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Continuity and Regularity:
We should make it a point that once we have entered the market for a particular commodity and have gained some foothold in it, we must strive to maintain this position, notwithstanding constraints of domestic production in some future years. If such a situation arises, we should be ready to sacrifice domestic consumption. Switch-off and switch-on systems do not work in trade. Continuity and regularity are hallmarks of success in international markets. Equally important is for Indian exporters to change their mind-set. Exporters should get dedicated to 'marketing' which is the exchange of 'satisfaction' for money, as distinct from 'trading' which is the exchange of goods for money. The former can be described as sadhana, while the latter is pooja. Marketing needs perseverance.
Statistical methods are considered to be superior techniques of demand estimation because: a. The element of subjectivity in this method is minimum, b. Methods of es
Internal and external economies of scale: Internal economies of scale are the advantages or benefits that the firm enjoys as it expands its size or increases its scale of ope
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Describe Dalton''s law of partial pressures, specification of Dalton''s law of partial pressures, Dalton''s law states that, at a given known temperature total pressure exerted b
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Explain externality, how can government intervene to achieve allocative efficiency in case of external cost or external benefit? Answer The term externalities refers to bot
how does compensated demand curve help managers?
Arc Elasticity of Demand - Arc elasticity calculates elasticity over the range of prices - The formula of it is: * Arc Elasticity of Demand: An Example
Ask qExplain why each of the following factors may influence the own price elasticity of demand for a commodity. (i) Consumer preferences, that is, whether consumers regard the com
Suppose you are a painter, and the price of a gallon of paint increases from $3.00 a gallon t $3.50 a gallon. Your usage of paint drops from 35 gallons to 20 gallons a month. 1. Co
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