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When Burton Cummings graduated with honors from the Canadian Trucking Academy, his father gave him a $350,000 tractor-trailer rig. Recently, Burton was boasting to some fellow truc
how manager can apply scarcity and oppotunity cost in managerial decision making
Structural unemployment Caused by structural changes such that there exist: Cyclical unemployment : During depression, prices are too low and profit margins remain d
Principles of Managerial Economics points
POPULATION SIZE AND DEMOGRAPHIC TRENDS a. Changes in Population The people of a country are its consumers. They provide the labour force for production. A study of
#queCase Study Labor standards Geeta & Company has experienced increased production costs. The primary area of concern identified by management is direct labor. The company is co
FACTORS RESPONSIBLE FOR WAGE DIFFERENTIALS WITHIN THE SAME OCCUPATION i. Differences in the environment: For example a doctor sent to North Eastern Province must be pai
CLASSICAL VIEW ON UNEMPLOYMENT The classical economists as we observed in Unit 1 of this course, were of the view that full employment prevailed in the economy all the tim
(i) Do the laws of economics still work today? (use the case discussed in class to answer this question or any other examples) (ii) Provide examples of three factors that can sh
NATIONAL DEBT Taxation does not often raise sufficient revenue for the Government Expenditure. So, governments resort to borrowing. This government borrowing is called Publi
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