A simplified economy involves categories of three commodities: Agriculture, manufacturing, and transportation, all in appropriate units. Production of 1 unit of agriculture requires 0.5 unit of manufacturing and 0.25 of transportation; production of 1 unit of manufacturing requires0.25 units of agriculture and 0.25 unit of transportation; and production of 1 unit of transportation requires 0.33 unit of agriculture and 0.25 unit of manufacturing. Required: (i) Develop the technological matrix for this problem (1 Mark) (ii) Suppose the final demand is 60 units of agriculture, 52 units of manufacturing, and 48 units of transportation. Determine how much should each sector produce to satisfy this both the internal and external demand

/in /by

A simplified economy involves categories of three commodities: Agriculture,
manufacturing, and transportation, all in appropriate units. Production of 1 unit of agriculture
requires 0.5 unit of manufacturing and 0.25 of transportation; production of 1 unit of
manufacturing requires0.25 units of agriculture and 0.25 unit of transportation; and production
of 1 unit of transportation requires 0.33 unit of agriculture and 0.25 unit of manufacturing.
Required:
(i) Develop the technological matrix for this problem (1 Mark)
(ii) Suppose the final demand is 60 units of agriculture, 52 units of manufacturing, and 48
units of transportation. Determine how much should each sector produce to satisfy this
both the internal and external demand

You might also like
The most imposing of all the pyramids is the Great Pyramid at Gizeh near Cairo, was built about 2650 B.C by the ____ of the Old kingdom.
You applied for a position as a sales assistant at the Specsavers in Mdantsane Mall and they phoned you last week to invite you to an interview in their office. Which labour legislation covers this situation and what are your rights according to the law in an interview situation?
The purpose of economics is to provide a way to think. The process of economic thinking and decision-making conclude that a scarce item/service cannot be obtained without giving up something else. Consequently, we must make our decisions by comparing the costs and benefits, and evaluating the trade-offs. In doing so, five principles of economic thought come into play: trade-offs, incentives, opportunity costs, marginal thinking, and voluntary exchange. How do you apply any THREE of these five principles of economic thought in your everyday life. Explain with a specific example of each of the three principles.
Which cultural influence came from the black power movement? A) Change in Lifestyles B) Black Art Movement C) Pride in Blackness D) Black is Beautiful
“What are the important decisions regarding planning, organizing, leading and controlling which are MacDonald organization”?
Which one of the following statements is wrong? Management is necessary to ______________________________ 1 direct an organisation towards its goals. 2 keep the operations of an enterprise on a balanced course. 3 keep the organisation in equilibrium with its environment. 4 attain organisational goals at the lowest possible productivity levels.
Shays rebellion was significant because it A) led for new constitution of US B) Many farmers got their lands back C) Both A & B D) None of the above
Which period in history, is known as '100 days'?