suggestions for how to answer questions. Don’t try to pass them off as your own work. For more micro economic help. See also the Economics Revision Guide available at www.economicshelp.org/ Copyright © T.Pettinger 2011. All Rights Reserved (For single use license only) www.economicshelp.org Micro Economic Essays Market Structure 1. Discuss how firms within an oligopolistic market compete. 2. Discuss whether monopoly is always an undesirable form of market structure. 3. Explain how interdependence
Premium Economics Monopoly Oligopoly
of the Firm The firm’s goal is to maximize profits‚ !. In order to do this it must decide what quantity of a good to produce given costs‚ technology and demand. A competitive firm is assumed to be able to sell as much as it wants at the market price without affecting price. So it takes price as exogenous (beyond it’s control) and does not worry about demand. In addition‚ for our purpose we’ll assume the firm operates efficiently‚ that is‚ whatever the level of production that the firm chooses
Premium Supply and demand
1) FIRM OBJECTIVES: The standard economic assumption underlying the analysis of firms is profit maximization. Real world firms‚ however‚ might not‚ and many times do not‚ make decisions based on the profit-maximization objective‚ or at least exclusively on the profit-maximization objective. Other objectives include: (1) sales maximization‚ (2) pursuit of personal welfare‚ and (3) pursuit of social welfare. Although firms are assumed to make decisions that increase profit in standard economic
Premium Profit maximization Economics
Group No. 2 : MBA 3rd Semester Strategic Management Agenda to Discuss: 1) Concept‚ Definition‚ Need and Dimension of Strategy 2) Strategy planning and Strategy Decision making and process 3) Strategic intent 4) Knowledge management strategy Submitted to: Submitted by: Dr. Bhagvan Singh Prakriti sood
Premium Strategic management Management Decision making
Entrepreneurial Competencies - The EMPRETEC Model Research by McClelland and McBer‚ funded by USAID‚ has identified 14 personal entrepreneurial competencies (PECs) which appear to characterize the behaviour of successful entrepreneurs. The study‚ conducted in India‚ Ecuador and Malawi‚ also found that these PECs transcended culture‚ country and continent. These competencies can be grouped into 3 main clusters and the EMPRETEC model has merged some of these competencies to derive 10 PECs
Premium Term Risk Finance
that it is the parents responsibility not the government‚ nor are the fast food companies bound to teach kids how to eat healthy and how to say active. He also mentioned results of statistics made on social economic status and gender‚ which shows that more kids are overweight due to fast food restaurants‚ supersizing and lack of exercise. Weintraub refutes these findings by emphasizing how parents are responsible for what their kids eat. As a result‚ his own recommendations include: limiting the consumption
Premium Nutrition Obesity Fast food
COMPETENCY MAPPING – A RIGHT CONCEPT TO EMULATE Prepared by A.Madhu Lecturer‚ Department of Management studies Einstein College of Engineering‚ Sir.C.V.Raman‚ Seethaparpanallur Tirunelveli-12 627012 Madhuindia2008@gmail.com T.Rita Rebekah Head‚ Department of English Einstein College of Engineering‚ Sir.C.V.Raman‚ Seethaparpanallur Tirunelveli-12 627012 ritarebekah@gmail.com Dr.R.Mohan
Premium Human resource management Management
IMPROVEMENT INITIATIVE WITHIN A PRODUCTION PLANT INITIALS SURNAME STUDENT NO PS XXXXX 2008YYYY RESEARCH PROPOSAL Submitted in partial fulfillment for the degree of B/TECH (OPERATIONS MANAGEMENT) In the DEPARTMENT OF QUALITY AND OPERATIONS MANAGEMENT At the UNIVERSITY OF JOHANNESBURG SUPERVISOR: A. Vermuleun October 2007 JOHANNESBURG TABLE OF CONTENTS CHAPTER 1 Page 1.1 Background 1 1.2 Problem formulation
Premium Quality management Costs Management
Competency- Definition A competency is a characteristic of an employee that contributes to successful job performance and the achievement of organizational results. Fig 1 These include knowledge‚ skills‚ and abilities plus other characteristics such as values‚ motivation‚ initiative‚ and self-control. Fig 2 Competency based Recruitment Organizations need to attract and select
Free Interview Question
main objective is to maximise profit‚ a planning and control system is essential. Firstly‚ a strategy that best satisfies the objectives of a company has to be selected. Secondly‚ the decision has to be implemented into a planning process. Therefore‚ a budget that relates to the entire activity of a company and to forecasted future revenues and expenditures has to be prepared. Standard costing can assist in budget setting and it supports cost control by setting standards. Establishing a standard cost
Premium Cost accounting Cost Costs