Advantages of marginal costing (Relative to the absorption costing) Preparation of routine operating statements using absorption costing is considered less informative for the following reasons: 1. Profit per unit is a misleading figure: in the example above the operating margin of Rs2 per unit arises because fixed overhead per unit is based on output of 5‚000 units. If another basis were used margin per unit would differ even though fixed overhead was the same amount in total 2. Build-up or run
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literally "one-string"‚ also called iktar‚ ektar‚ yaktaro gopichand is a one-string instrument most often used in traditional music from Bangladesh‚ India‚ Egypt‚ and Pakistan. In origin the ektara was a regular string instrument of wandering bards and minstrels from India and is plucked with one finger. The ektara usually has a stretched single string‚ an animal skin over a head (made of dried pumpkin/gourd‚ wood or coconut) and pole neck or split bamboo cane neck. Pressing the two halves
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Theories of emotion The James-Lange Theory American Psychologist William James and the Danish Psychologist Carl Lange. James-Lange theory holds that physiological response give rise to our cognitive experience of emotion. Our body responds to a perception of an event before we experience the emotion. James-Lange Theory: 1. Event 2. Arousal 3. Emotion Example: The dog is growling; My muscles tense; My heart races; I feel afraid. The Cannon-Bard Thalamic Theory Walter Cannon a psychologist
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What is the difference between competitive advantage and comparative advantage? Answer: An advantage that a firm has over its competitors‚ that differentiates the Product or services offered by the firm and allows the firm to reduce it’s Cost or generate Higher Revenue or Margin is known as Competitive Advantage. A competitive advantage is something that a consumer views in a product or service as having higher value than the other competitors of the firm in the industry. It is an expertise that
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Los Angeles Rams Football Club v. Cannon 185 F. Supp. 717 (S.D. Cal. 1960) Plaintiff prays for an injunction to restrain defendant playing football or engaging in related activities for anyone other than the plaintiff without the plaintiff’s consent during the term of a contract or contracts allegedly entered into by the parties on November 30‚ 1959‚ and an order declaring the existence of a valid written contract or contracts. Defendant denies he ever entered into a contract or contracts as
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The Absolute Advantage concept is generally attributed to Adam Smith for his 1776 publication An Inquiry into the Nature and Causes of the Wealth of Nations in which he countered mercantilist ideas. Adam Smith argued that it was impossible for all nations to become rich at the same time by following mercantilism because the export of one nation is another nation’s import and instead stated that all nations would gain simultaneously if they practiced free trade and specialized in accordance with their
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I have chosen the Comparative Advantage Theory for my key term to discuss. I chose this term because it has a great importance on world trade clearly help shape the pattern of world trade‚ and also to get a better understanding of the concept. Comparative Advantage is the benefit or advantage of an economy to be able to produce a commodity at a lesser opportunity cost. According to Satterlee (2009)‚ opportunity cost is the value of what had to be given up‚ or forgone‚ to consume or achieve the object
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The theory of comparative advantage is perhaps the most important concept in international trade theory. As the economies that exist in our world our becoming increasingly more intertwined‚ it is becoming even more important. Nearly every country in the world depends on other countries to supply them with goods that they cannot produce in their own country. I believe that comparative in necessary in today’s economy. In this paper I am going to discuss comparative advantage and it’s effect on globalization
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Essay by George Kotselopoulos Why do countries trade with each other? Show‚ using examples‚ why this may be to do with the principle of comparative advantage. International trade is the barter of goods and services between nations. The reason of such exchanges is because each country has access to different forms of natural‚ human‚ and capital resources; as well as a different way to use them for production of goods and services. Therefore countries are not always able to supply the goods
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the theory of comparative advantages‚ does international trade always benefit the lower income group in a poor country? Who do they trade with? Who are the poor countries? Define by using GDP per capita (usual gauge). Thus China can be considered as a poor country. Among the poorer group‚ they are richly endowed in labor. Poor countries tend to have more workers than machines. They’re comparative advantage lies in their labor industries. According to theory of comparative advantage‚ the
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