"An economy is based on three sectorsdashagriculture, manufacturing, and services. For each unit of output, agriculture requires inputs of 0.20 unit from agriculture, 0.40 unit from manufacturing, and 0.20 unit from services. For each unit of output, manufacturing requires inputs of 0.30 unit from agriculture, 0.20 unit from manufacturing, and 0.20 unit from services. For each unit of output, services requires 0.20 unit from agriculture, 0.30 unit from manufacturing, and 0.30 unit from services. Determine the production levels needed to satisfy a final demand of 0 units for agriculture, 40 units for manufacturing, and 0 units for services. The production level needed from the agricultural sector is 40.00 units."

Required Production to fullfil a Demand for 40 industry units

Agriculture 54.4

Industry 83.2

Services 51.2

Explanation:

InputAgricuiltureIndustrialService

Agriculture0.2           0.30.2

Industrial0.4           0.20.3

Service         0.2           0.20.3

We require X input to generate a demand of 0 agriculture 40 industry and 0 services

The previous matrix will be the input we solve for the output

OutputAgricuiltureIndustrialService

Agriculture0.8            -0.7-0.8

Industrial-0.6             0.8-0.7

Service        -0.8            -0.80.7

We now reverse the matrix using excel:

OutputAgricuiltureIndustrialService

Agriculture2           1.360.96

Industrial1           2.08       0.88

Service         1           1.282.08

Now we multiply this by our desired outcome of

0

40

0

Agriculture 54.4

Industry 83.2

Services 51.2

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.