a) Identify the nature of resource cost structure and the practical significance of different costs;
b) Explain the factors influencing optimum size and the significance of demand and supply relationships;
c) Demonstrate an understanding of the relevance and limitations of economic theory to management decisions.
"The recent price wars in the supermarket and mobile phone industries have been beneficial to both consumers and their respective industries." Discuss critically, using all the recent theoretical models.
Make references to important microeconomic models.
Some examples are :( Supply, Demand, Market equilibrium,
Price discrimination, Opportunity cost)
"The cost of mobile phones have fallen to such a level which, if this trend continues ,would make mobile telephony more affordable to much larger segments of the emerging markets population". Discuss critically, using all the recent theoretical models.
Make references to important macroeconomic objectives: Some examples are :( Growth, Inflation, Unemployment, GDP, Exchange rates)