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WHY MANAGERS NEED TO KNOW ECONOMICS
The influence of economics towards the performance of managerial duties and responsibilities is of major importance. The importance and contribution of economics to the managerial profession is akin to the contribution of biology to medical profession and physics to engineering. It has been perceived that managers equipped with a working knowledge of economics overcome their otherwise equally qualified peers, who lack knowledge of economics. Managers are responsible for attaining the objective of the firm to the maximum possible extent with limited resources placed at their disposal. It is significant to note that maximisation of objective has to be attained by utilising limited resources. In the event of resources being unlimited, such as sunshine orair, the problem of economic utilisation of resources or resource management wouldn't have arisen.
Problem: Long-Run Labor Demand and Factor Substitutability Suppose there are two inputs in the production function, labor (L) and capital (K), which can be combined to produce
Suppose a firm's budget were large enough to employ 100 units of either labor or capital, the cost of a unit of labor being the same as a unit of capital. The production function i
marris'' model of managerial enterprise?
Using the discounting principle calculate the present value of an annuity of five years at Rs. 500 payments made at the end of each of the next five years at 10% interest. stion..
You have been provided with daily data starting in January 2009 on the main New Zealand stock market index, the NSX-50. Choose a suitable model for measuring volatility on the New
Limits on the process of bank deposit creation On the demand side , there may be a lack of demand for loans, or at least of borrowers who are sufficiently credit worthy .
Q. What is Monopoly? The term 'Monopoly' has been derivative of Greek term 'Monopolies' that means a single seller. So, monopoly is a market condition in that there is a single
A study of 86 savings and loan associations in six northwestern states yielded the following cost function. I''ve been given the following data; C=2.38- .006153Q1 + .000005359Q2 +
Model Specification We proceed with the model specification in the following steps. 1) The economy is composed of competitive firms (F in number) and identical workers
Neo Classical vs Keynesian School We know that Keynesian economics was propounded as a revolution against the then prevailing orthodoxy of the classical school. In time,
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