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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.
measurement and scaling techniques in business research
Calculate point elasticity of demand for demand function Q=10-2p for decrease in price from Rs 3 to Rs 2
Disguised unemployment Situation where some people are employed apparently, but if they are withdrawn form this job, total production remains the same. In most developing coun
Evaluate critically chamberlin''s model of monopolistic copetition
Autonomous Expenditure Also called Exogenous expenditure, is any expenditure that is taken as a constant or unaffected by any economic variables within our theory. For instan
Q. Explain Mark-up pricing? In addition to using above methods to conclude a firm's optimal level of output, a firm can also set price to maximise profit. Optimal markup rules
The neo-classical view The neo-classical view is that market forces are the best directors of the economy. Positive attempts by the government it is argued inevitably make th
Q. What do you mean by External Economies? External economies arise outside the firm as a result of improvement in industrial environment in that the firm operates. They are ex
In the city of Gelato the market for ice cream is perfectly competitive. Aggregate demand for ice cream is: where p is the price for one cone of ice cream. All ice cream pr
What are the essential points to determine in monopoly? Points essential to determine in monopoly: a. The importance of monopoly, where a particular monopolist is the merely
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