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Q. Discovery of new technical know-how?
Growth of Technical Know-how: Expansion of an industry may result in the discovery of new technical know-how. As a result of this firms may be able to use improved and better machinery that will increase the productivity of the firms and consequentlydecrease the cost of production.
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 ris
how it is revalent?
Suppose a given demand curve for massage therapy services. In the context of giving massage therapy services, list, and explain in detail, 5 different variables that may cause an i
define scarcity and oppurtunity cost.show how these concepts are useful in managerial decision making
how does knowledge of economics help in maximizing profit in firm
1. Prof. Thomas "Generally the term Monopoly is used to cover any effective price control, whether of demand or supply of services or goods; hardly it is used to mean a combination
Monetary Theory We have seen that Schumpeter theory which runs in terms of innovations and technical change, is at best an incomplete explanation of trade cycle . there are eco
Q. Construction of an explanatory model? Construction of a sample: To apply multiple regression a large sample is generally essential (ideally between 2,000 to 15,000 indivi
monopolistic competition
Opportunity Cost This is the amount that is sacrificed when choosing one activity over the next-best alternative. In organization, an example of opportunity cost is seen in th
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