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  • An Industry (As The Production of Machine Tools or Chemicals) Whose Output Is Essential To The Successful Operation of Many Other Industries

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    Samantha Ameztoy
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    This document defines several key economic terms including automation, gross national product, interest rate, output, value added tax, and key industry. Automation refers to using machines instead of people to do work. Gross national product measures the total value of goods and services. Interest rate is the percentage charged to borrow money. Output is the amount of goods or work produced. Value added tax is added to the price of goods and services. A key industry produces outputs essential to other industries.

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    Automation

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    This document defines several key economic terms including automation, gross national product, interest rate, output, value added tax, and key industry. Automation refers to using machines instead of people to do work. Gross national product measures the total value of goods and services. Interest rate is the percentage charged to borrow money. Output is the amount of goods or work produced. Value added tax is added to the price of goods and services. A key industry produces outputs essential to other industries.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    Download as docx, pdf, or txt
    11 views1 page

    An Industry (As The Production of Machine Tools or Chemicals) Whose Output Is Essential To The Successful Operation of Many Other Industries

    Uploaded by

    Samantha Ameztoy
    This document defines several key economic terms including automation, gross national product, interest rate, output, value added tax, and key industry. Automation refers to using machines instead of people to do work. Gross national product measures the total value of goods and services. Interest rate is the percentage charged to borrow money. Output is the amount of goods or work produced. Value added tax is added to the price of goods and services. A key industry produces outputs essential to other industries.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 1

    Automation: The use of computers and machines instead of people to do a job GNP: Gross national product Interest rate:

    The percentage amount charged by a bank when you borrow money. Output: The amount of good or work produced by a person, machine, factory (production) VAT: Value added tax, a tax added to the price of good and services in Britain and EU Key industry: an industry (as the production of machine tools or chemicals) whose
    output is essential to the successful operation of many other industries BUSINESS AND INDUSTRY

    MONEY AND FINANCES

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