2020 JUPEB Economics Expo | JUPEB Economics Runs Now Available, Jupeb Economics Expo 2020 / Jupeb Economics (Theory) Runs 2020 / Jupeb Economics Answers 2020 / Economics Jupeb Runz 2020 / September 8th Jupeb Economics Answers. Get 2020 Jupeb EconomicsTheory Expo Runs Answers Runz midnight before your exam starts.
JUPEB – The Joint Universities Preliminary Examinations Board will hold today been 8th September 2020 kick start in various afflicted tertiary institutions in the Nation. As we know, Jupeb is one of the biggest and hardest exams like IJMB, your knowledge alone may be the project you to your promise land, that is the reason for this article, to help you accelerate the rate of your success in every subject.
Many candidates are afraid of being Scammed because of the nature of things, due to this reason, they decided to subscribe for only one subject to test how real the answers are, if you belong to this group of people, please after confirmation always goes to the main page to subscribe for the remaining subjects, Check the JUPEB Agricultural Science expo question and answers here
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JUPEB ECONOMICS OBJ
JUPEB ECONOMICS THEORY
Explicit Cost refers to all payment made directly for the raw material used during production. While Implicit Cost is all payments made or cost at which the owner or coordinator of the firm indirectly incure on factors of production.
Fixed cost that donot change or vary with the level of output. While Variable cost changes or varies directly with the level of activities.
Average Costs is the cost per unit of output while Marginal cost is the additional cost incurred on the production of an additional units of a commodity
Their products is subjects to standard cost
They usually embark on extensive research on publicity
They employ heavy, technologies and machinery
They easily benefit from internal and external economies
The national debt is simply the net accumulation of the federal government’s annual budget deficits. It is the total amount of money that the U.S. federal government owes to its creditors.
Public debt is undoubtedly caused by excessive expenses, which may be caused by the militarisation of the economy, extensive administration or high social transfers. Maladjustment may also have short-term character related to the alternate nature of economic development, which is expressed in the business cycle.
Low Per Capita Real Income
Low per capita real income is one of the most defining characteristics of developing economies. They suffer from low per capita real income level, which results in low savings and low investments.
It means the average person doesn’t earn enough money to invest or save money. They spend whatever they make. Thus, it creates a cycle of poverty that most of the population struggles to escape. The percentage of people in absolute poverty (the minimum income level) is high in developing countries.
High Population Growth Rate
Another common characteristic of developing countries is that they either have high population growth rates or large populations. Often, this is because of a lack of family planning options, lack of sex education and the belief that more children could result in a higher labor force for the family to earn income. This increase in recent decades could be because of higher birth rates and reduced death rates through improved health care.
High Rates of Unemployment
In rural areas, unemployment suffers from large seasonal variations. However, unemployment is a more complex problem requiring policies beyond traditional fixes.
Dependence on Primary Sector
Almost 75% of the population of low-income countries is rurally based. As income levels rise, the structure of demand changes, which leads to a rise in the manufacturing sector and then the services sector.
Dependence on Exports of Primary Commodities
Since a significant portion of output originates from the primary sector, a large portion of exports is also from the primary sector. For example, copper accounts for two-thirds of Zambia’s exports.
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