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 marginal cost pricing and differential pricing?
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What are the merits and demerits of Scarcity Definition of economics?
A government-supported literacy program provided from a firm which primarily employs unskilled labor is an illustration of an investment in: (1) human capital depreciation. (2) business paternalism. (3) specific training. (4) laissez-faire economics.
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Illustrates the term monetary policy?
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What are the reasons for adopting penetration price strategy?
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