Answer and Explanation:
Economic Growth can be defined as an increment in production capacity of an economy using all its available resources. The PPF illustrates the largest possible quantity of goods and services a nation can produce base on its available resources. An outward shift in the economy’s production possibility frontier (PPF) depicts a raise in productive capacity of an economy. An outward shift implies that an economy has capacity to increase its production outputs. This can be as a result of the economy employing new technology, allowing specialization, increasing its labour force, using new production approaches etc. Likewise, an inward shifting PPF implies an economy has witness a loss or exhaustion of some of its scarce resources and it will culminate into reduction in an economy’s productive potential.
Effects of saving and investment upon national GDP
level of savings direct related to the level of investment, investment feeds on available finance from saving. If more people save, the banks will be able to lend more to firms to support their investments.
low savings and investment implies a PPF inward shift. low savings in economy implies that the economy is opting for short-term consumption over long-term investment, and this will lead to future undue pressure on available infrastructures ad resources.
spending on consumer goods vs capital goods effect on the economy
In the short run, the economy must prefer using available resources to produce capital rather than consumer goods. Standards of living will be affected, as private consumption will have access to fewer resources. However, in the longer run, the raised production of capital goods will boost the production of more consumer goods ad therefore standards of living will experience more increase than they would have witness if the economy had spent most of its income on consumer goods.
He formal decision-making process used when considering the economic feasibility of implementing information security controls and safeguards is called a CBA
WHAT IS A CBA ?
CBA stands for cost benefit analysis .
Businesses utilize a cost-benefit analysis as part of a systematic procedure to determine which options to take and which to ignore.
The cost-benefit analyst adds up the potential benefits anticipated from a circumstance or course of action before deducting the overall expenses related to that course of action.
It has the following benefits -
- Increased income and sales as a result of greater production or new goods.
- Benefits that can't be seen, such higher employee morale and safety, as well as increased consumer satisfaction via better products or quicker delivery.
- Gained market share or a competitive advantage as a result of the choice.
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<span>Credit cards are included in neither the M1 definition of the money supply nor in the M2 definition. Credit cards do not come under these definition because M1 and M2 by definition deals with deposits, saving accounts tiny deposits and assets conversion and cash in the money supply sector. Hence the concept of credit cards is not covered in M1 and M2.</span>