What are the various fields of Economics
What are the various fields of Economics? Explain.
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A. Economies in the production: This arises term as follows:
Technological advantages and Advantages of separation of labour and specialization
B. Economies in the marketing:
This facilitates with: Large scale purchase of inputs and Advertisement economies and Economies in large scale distribution as well as other large-scale economies.
C. Managerial economies: This achieves with: Specialization in management and Mechanization of managerial function.
D. Economies into storage and transport
Economies in transportation and storage costs occur form fuller make use of transport and storage facilities.
States the Wealth Definition in economics?
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Explain the follow-up pricing.
What are the Functions and Responsibilities of managerial economist?
Illustrates the term Law of Demand? Answer: The law of Demand is termed as the “first law in market”. It shows the relation in between quantity and price
Explain the Expenditure Method of Measurement of Elasticity.
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The supply curve of labor is LEAST probable to be “backward bending” for: (1) an individual worker. (2) the economy as a whole. (3) highly specialized industries which are main employers of dedicated PhDs hired only after
Illustrates the important question regarding the managerial economics?
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