ISSN: 2225-8329
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The production of a country is done in order to provide the resources for the general final consumption of the population, but also consumption we consider the use of results of the previous or current period in the development of production and for investments. From the production function of Coob-Douglas we know that the economic activity is carried out using three factors namely capital, labor and material-financial resources. Production is the main factor, meaning, we will analyze the possibility of using and adapting macroeconomic models to such a complex analysis. We also addressed consumption issues because economic growth is based on mixed consumption or investment. As in the case of Romania this economic growth is mainly achieved through consumption, we have granted a series of privileges to treat such a model. We logically identified the nature of the correlations that arise at the level of macroeconomic production, presented the new variables that should be taken into account, we referred to the basic macroeconomic model and through the used examples we concluded how to use such a model.
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To cite this article: Anghelache, C., Grigorescu, D.L., Radu, I. (2019). Models Used in the Analysis of Production and Consumption, International Journal of Academic Research in Accounting, Finance and Management Sciences 9 (4): 24-29
Copyright: © 2019 The Author(s)
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