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Technical Economies:
They are economies that accrue from the use of large machines with emphasis on full utilization and efficiency in production. First, there are some equipment which are available only in certain minimum sizes, and unless the plant acquisition and usage will permit the production or at least these minimum output levels of production, it will not be economical to acquire them.Secondly, large-scale production, it will not be economical to acquire them. Secondly, large-scale production allows for the specialization of different sets of equipment for the different phases of the firm’s activities. This reduces the cost (i.e. time and money cost) involved in setting and re-setting the same equipment for different functions. Thirdly, the firm can have a standby machine as an insurance against any form of equipment breakdown.Also, the specialization of machines aids the further development of division of labour. These benefits derived by the firm from such approach to production lead to substantial economies of scale thereby by the firm from such approach to production lead to substantial economies of scale thereby reducing the unit cost of output produced.
What is endothermic reaction? 3. Draw a generalised energy graph for an endothermic reaction.
How has the Harberler''s theory of opportunity cost an improvment over the classical theory of trade?
Securitization: A process in that financial relationships (like loans) are converted into financial securities or assets (like bonds) that can be bought and re-sold in securities m
total revenue
Another school of thought developed what is called loanable funds theory of interest. Among the principle economists who contributed to the development of loanable funds theory men
Consider two hypothetical nations, Solowia and Growia, which are defeated in wars. These two nations were suffered from wars differently; the damage is on capital stock in Solowia,
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How the inflation effect on the Import and Export of the country? When general price level enhances in an economy, local currency is devalued. Economy has to spend more on imp
Q. What do you meant by Retained Earnings? Retained Earnings: Business profits that aren't distributed to shareholders (by dividends or other pay-outs) thoughinstead are retain
Price Discrimination: occurs when the same product is sold at different prices to different consumers. A monopolist divided his consumers into groups and sells his product at vary
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