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Describe about the Theory of profit
Every industrial and business enterprise aims at maximising profit. Profit is the difference between total economic cost and totalrevenue. Profitability of an organisation is greatly influenced by the below factors:
Therefore profit management and profit planning are very significant requisites for improving profit earning efficiency of the firm. Profit management includes the use of most efficient technique for predicting the future. Probability of risks must be minimised as far as possible.
The Historical development of money For the early forms of money, the intrinsic value of the commodities provided the basis for general acceptability : For instance, corn, s
Discuss the full cost pricing and marginal cost pricing method. Explain how the two methods differ from each other.
What are the important external forces Management has to identify all significant factors which influence a firm. These factors can largely be divided into two categories. Mana
INDIRECT TAXES These are imposed on an individual mostly producers or traders but they can be passed on to be borne by others usually the final consumers. They can also be de
Marginal Utility The extra utility derived from the consumption of one more unit of a good, the consumption of all other goods remaining unchanged. The hypothesis of dimin
What is Cyert and March's behavior theory? What are the demerits.
Burden of the national debt The extent of the burden on a nation of public debt, depends in the first place on whether it is an external or an internal debt. The burden of th
Determine the Managerial economics techniques Though the most frequent applications of these techniques are as below: Risk analysis: Numerous models are used to quantif
Northern Lumber operates a large lumber-processing mill in a small town in Washington State. It is one of the larger lumber producers in the region and has some market power in th
Fall in Supply When the supply falls, the supply curve shifts to the left to position S 1 S 1 . At the initial equilibrium price P 1 , quantity supplied falls from q 1
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