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What is Normative economics
It is concerned with varied corrective measures which a management undertakes under different circumstances. It deals with goaldevelopment, goal determination and achievement of these goals. Policy-making, Future planning, optimal utilisation and decision-making of available resources comes under the banner of managerial economics.
Question 1: Martha National County Club is a golf club in an isolated wealthy community and accepts only females as members. There are 1,000 identical female members of the club an
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
Balance of Payments Perhaps the most immediate reason for bringing in protection is a balance of payment deficit. If a country had a persistent deficit in its balance of paym
What is Oligopoly? Oligopoly is a general market structure. This arises from similar forces that lead to monopoly, except within weaker form. This is an industry along with onl
Problems of prices and Incomes policy i. Confrontation The imposition of the prices and incomes policy, voluntary or statutory, risks the possibility of confrontation w
Individual firm and market supply curves The quantities and prices in the supply schedule can be plotted on a graph. Such a graph is called the firm supply curve. A fir
what is the role of managerial economics in running a business?
What is the difference between monopoly and perfect competition? Monopoly versus Perfect Competition: 1. Perfect competition is equal to monopoly competition, at the perfe
Q. Show the Long Term Goals - Demand forecast? Long Term Goals: If the demand forecast period is more than a year, in that scenario it's termed as long term forecast. Follow
critically analysis the profit maximisation theory of business firm and illucidet the role of profit in business
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