Consumption: the act of taking the goods and applying it’s function.
The buyers must have something they can offer in exchange for there to be a
potential transaction.
DEMAND: the ability and desire to purchase goods and services; “Demand is
high for the Nintendo 3DS because it’s selling like pancakes."
MicroEconomics – Examples
Household behaviors
Firm process
Product prices
MacroEconomics – Examples
Unemployment
Economic Growth
Title: Taxes
Title: Taxes
Income: The amount of money or its equivalent received during a period of
time in exchange for labor or services, from the sale of goods or property, or
as profit from financial investments.
Title: Taxes
Corporate Tax: Corporate tax refers to a direct tax on the profits made by
companies or associations.
ICC is the largest, most representative business organization in the world. Its
hundreds of thousands of member companies in over 130 countries have
interests spanning every sector of private enterprise.
Ref. http://www.globalpolicy.org/
For instance, a primary product might be an apple and some wheat, and the
chain of production will turn this into an apple pie for you to enjoy.
Primary producers are always the first stage in any chain, and the part they
play is to produce the raw materials from which the final product will then be
created.
The secondary stage of production is when the product itself takes shape in
the hands of manufacturing companies. These companies bring together
products and other raw materials to create the final product.
The last and final stage in each production chain is the actual selling of the
product to the consumer. A retailer such as a supermarket will buy a large
amount of the final product from the supplier, to then sell on to you, the
consumer.