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Describe the Managerial functions
A manager has to take numerous decisions that conform to the objectives of the firm. Several business decisions fall prey to conditions of risk and uncertainty. Risk and uncertainty arise chiefly because of volatile market forces, changing business environment, government policy, emerging competitors with highly competitive products,external influences on domestic market and political and social changes in the country. The intricacy of modern business world weaves complexity in to decision making process of a business. Though the degree of risk and uncertainty can be greatly condensed if market conditions are computed with a high degree of reliability. Envisaging a business environment in the future doesn't suffice. Appropriate business decisions and formulation of a business strategy in conformity with the objectives of the firm hold similar significance.
Using Factor Incomes for Calculating National Income A second method is to sum up all the incomes to individuals in the form of wages, rents, interests and profits t
what is deadweight loss calculation?
I would like to get the answer to the question - Weston Industrial Manufacturing Products ("WIMP") has the capability to produce a variety of industrial products, including a numb
A firm producing hockey sticks has a production function given by X = 2 KL In the short-run, the firm's amount of capital equipment is fixed at K = 1000. The rental rate fo
Problem 1: Using relevant examples, discuss the pricing strategies that firms can use to capture value from their customers. Problem 2: You are a manager in a perfectl
NORMAL AND SUPERNORMAL PROFITS Normal profit refers to the payment necessary to keep an entrepreneur in a particular line of production. In economics, it is generally belie
Management Decisions: An effective demand forecast assists the management to take suitable steps in factors which are relevant to decision making like plant capacity, raw-material
bargaining power of customer for a cement company
Factors affecting the size of National Income The size of nation's income depends upon the quantity and quality of the factor endowments at its disposal. A nation will be ri
monopoly
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