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Sources of external economies of scale:
Economies of Skilled Labour:
This involves upgrading the skills of labour through the provision of education and training facilities in a well-organised industry. This ensures that education and training of labour do not become part of the industry’s daily operations but rather some specialized institutions take over the performance of these functions. This is often easier in well-organised industries than less organized ones. Such education and training culminate in economies of manpower development and generally lower the cost of production in the industry.
Provide an economic explanation of what you have shown in your diagrams above. Discuss what happens to Iceland's (1) level of economic output, (2) employment, (3) real wage rate,
Supply function given by equation QS = 3P - 50. Write an equation proposals if: a) Government introduces subsidies of 5 $ per unit; b) the government introduced subsidies of 15%
Tom's pizza sells for $ 5.00 ea and serves an average of 425 customers per week. During a recent sale, Tom lowered the price to $ 4.00 per ea. Sales increased to 500 customers duri
Types of budget: Surplus Budget: A surplus budget occurs when the expected government revenue is planned to exceed the proposed government expenditure. It can be achieved by
The plant cell when placed under hypertonic medium loses a great quantity of water and its cell membrane detaches from the cell wall. In that situation the cell is known as plasmol
use a graphical illustration to briefly describe what the influence of an increase in immigrants would be on the market supply of labour
#how do you draw a demand curve on excel
Economic growth and Economic development: Economic Growth refers to an increase in real aggregate output (real GDP) reflected in increased real per capita income.A country is
Purpose: this case is intended to model supply chain, especially the reverse logistic behaviour. Description: In Cal Poly Pomona, TOM301 (Operations Management) is a core cou
What are the most important challenges that economists try to address? (ii) What is the role of government in a market based economy? (iii) Who are the main economic players and w
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