Explain the accounting cost concept in brief
Explain the accounting cost concept in brief.
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Accounting cost: These costs represent all such expenditures that are incurred by a firm upon factors of production. Therefore, accounting costs are explicit costs. Briefly, all items of expenses appearing upon the debit side of trading, loss and profit account of a firm shows the accounting cost. As all the expenses on production are in money terms, the accounting costs are nominal costs or money costs.
Illustrates the opinion of Samuelson for explaining Law of Demand?
what are the criteria for good forecasting
Screening devices used while employers try to stop adverse selection through applicants for positions do not comprise: (1) reviewing résumés to identify applicants’ qualifications. (2) needing non-compete clauses which prevent new
Diminishing returns to labor or questions of monitoring and coordination start to overwhelm any gains by specialization and division of labor within this graph at: (1) point a. (2) point b. (3) point c. (4) point d (5) point e.
Explain the meaning of Elasticity?
If all else regarding two occupations are relatively equal, then wages tend to be lower for jobs which: (1) require important education and training. (2) expose the worker to bad weather. (3) require extended periods away from home. (4) pose health and safety hazards
What are the advantages and disadvantages of trend projection method?
When all firms in an industry charge similar price for their product, it: (w) proves the existence of a cartel. (x) proves the existence of price leadership. (y) indicates an oligopoly. (z) may be consistent along with either pure competition or oligo
Differentiate between extension/contraction and shift in demand?
Describe the term trend projection.
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