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Economies of Scale
The reduction in the cost of each additional unit produced as all factors of production increase. Factors contributing to economies of scale include discounts on bulk purchases of raw materials, the ability to use fixed assets to full capacity, the skills to use particular labor to its fullest capability, and the skills to use management to govern the largest number of people as efficiently as possible.
Pre-Funded Pension: A pension plan in that funds are invested and accumulated throughout an individual's working life in order to pay for subsequent disbursement of pension benefit
A government official announces a new policy. The country wishes to eliminate its trade deficit, but will strongly encourage financial investment from foreign firms. Explain why su
what is discounting principle?
Demand Pull Inflation: It describes a sustained increase in the general price level that is caused by a permanent increase in nominal aggregate demand. Simply, is can be view
Q. Central Planning of economic system? Central Planning: An economic system in that crucial decisions regarding consumption, investment, exchange rates, interest rates and pri
Economic Reforms and Infrastructure Growth Infrastructure data for the pre-reform period (1980-81 to 1990-91) is with1980-81 as base year and for post-reform period (1993-94 t
State trading is often associated with canalisation. Canalisation means estaolishment of state monomply in foreign trade. In other words, an item that is canalised can be imported
The Law for Diminishing Marginal Returns - As use of an input increases in equal increments, a point will be approched at which the resulting additions to output decreases
Strategic Importance of Supply Chain Management This describes the scope of supply chain management (SCM), including the management of procurement, logistics and materials. It
Define the Production Possibilities Curve
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