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.
Illustrates the pricing policies briefly?
When an exceptionally warm winter caused the quantity of cashmere sweaters supplied to exceed the quantity demanded at the present market price, in that case: (1) cashmere sweaters will be more heavily demanded subsequent year than this year. (2) an overload of cashme
Explain the about Fiscal Policy.
Labor supply curves “bend backward” within response to overwhelmingly powerful: (i) marginal effort effects. (ii) income effects. (iii) wealth effects. (iv) derived supply effects. (v) substitution effects. Q : Concept of marginal costing In what In what condition the concept of marginal costing basically applied?
In what condition the concept of marginal costing basically applied?
When a firm is a price taker in the sale of its product, in that case labor’s: (w) ARP (Average Revenue Product) = MRP. (x) ARP = VMP. (y) VMP > MRP. (z) VMP = MRP. Can someone explain/help me with best so
Economic rent shows part of the payment for the utilization of: (w) landowners’ labor and capital to keep their land. (x) landowners’ buildings and equipment. (y) resources for that supplies are less than perfectly elastic. (z) any piece o
What are the scopes of managerial economics?
Illustrates the different between expert opinion method and trend projection method?
In countries employing decentralized markets for nearly all decision making: (1) Private individuals select how most resources and goods are allocated. (2) Nonhuman resources should be individually owned. (3) Elaborate economic plans are planned and enforced by law. (
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