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Division of labour:Division of labour involves dividing a production process into a number of smaller tasks for each task to be undertaken by a different worker. It may also be referred to as specialization because each worker specializes in doing only one task thereby producing a part of the product as against producing the whole product. Division of labour may be applied in all aspects of production including agriculture, manufacturing, etc.
discuss ho capacity utilization and product differentiation affect internal rivalry and entry barriers with the analytical framework of the porter five forces model. use the econom
GIVE EXAMPLES OF EACH OLIGOPOLY MODELS FROM REAL LIFE
how does pp curve solve the problem of how to produce, what yo produce, and when to produce?
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why use GNP in macroeconomichs analysis
Special Drawing Rights: SDRs are entitlement granted to member countries enabling them to draw from the IMF apart from their quota. It is similar to a bank granting a credit l
different types of production funtion and curve given by different economist
Economies of scale are advantages obtained from a company becoming large and diseconomies of scale are additional costs inflicted because a firm has become very large. The causes
how the equilibrium output and price is determined in williamson model of managerial discretion?
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