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Profit: This is surplus left over after a company sells its output and pays off cost of production (which includes raw materials, labour costs and a proportional share of its capital equipment). Its calculation is: revenue - cost = profit.
concept of supply and the factors that affect the supply
Economies of Common Services: Through the concentration of firms in a particular industry in a given geographical location, the firms may enjoy certain commonservices.These
Q. What is Gross Domestic Product Per Capita? Gross Domestic Product, Per Capita: Level of GDP divided by the population of a region or country. Changes in real GDP per capita
Do not submit more than 1 file in the Canvas submission link. A few years ago peanut farmers in India experienced a super-bumper crop due to favorable weather conditions. Initially
Population census: A population census is the head count of people living in a geographical area or in a country. A population census collects comprehensive data on people to
How we constract the cost structure of firms
The definition of a price maker is states as “firm with some power to set the price bcoz the demand curve for its output slopes downward”, that in effect, mean those firms with a d
Problem 1: Any development strategy should put people first; indeed, its very effectiveness should be measured in terms of how it impacts the poor. (a) Describe the link bet
Absolute advantage is the simplest yardstick of economic performance and it may be simply describe as If one person or a firm or a country may produce more of something with the sa
can average labor productivity fall even though total output is rising
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