Batch Production Batch Production is a way of creating items in bulk. In batch production‚ general-purpose equipment and methods are commonly used to produce small quantities of items that will be made and sold for a limited time only. Usually a similar design and process will be used to make a new product‚ cars are a good example of this. Often after car has been made another version will be created that has got new features. In batch production specialized tools or items for construction purposes
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Monopolies can be national (royal mail)‚ regional (water companies) or local (petrol station). Unlike a perfect competition situation were firms are ’price takers ’ and only respond to consumer demand‚ a monopoly finds itself in an imperfect competition market. In this type of market the firm is more of a ’price maker ’ and can therefore influence the market price. When comparing monopoly and perfect competition under the same conditions‚ we can find that the monopolist when in equilibrium produces
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English 50 April 6‚ 2014 Virtual World In today’s world technology is a part of everyday life. We have all seen people contently texting as they are walking‚ headphones blasting in peoples ears‚ and hearing about people playing video games for hours on end. People today seem to be stuck in their own virtual world because they can get instant gratification and there is nonstop communication weather it’s through computers‚ cell phones‚ or gaming systems. Are all this technological advancements
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For-Profit Education For-Profit education has been present for many years however has recently become a popular commodity. The for-profit educational world has been gaining popularity for a number of reasons. These include such aspects as access‚ student population‚ financial cost‚ etc. This paper will explore For-Profit education‚ a brief history‚ the students these institutions aim to serve‚ the intended focus of For-Profits and quality‚ the impact on higher education‚ and the roles of student
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COST OF PRODUCTION CONTENTS 1. Introduction 2. Types of costs 3.1 Opportunity‚ implicit and explicit costs 3.2 Fixed and variable costs 3.3 Average costs 3. Types of cost curves 4.4 Marginal cost curve 4.5 Average cost curves 4. Costs in Short run and in the Long run 5.6 Short run 5.7 Long run 5.8 Economies of scale 5. Cost analysis in the real world 6.9 Economies of scope 6.10 Experiential
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smeQUESTION 1 SMEs AND LARGE ORGANIZATIONS Small and Medium Enterprise (SMEs) and large enterprise might operate in the same market‚ but there are certain differences in the two. Certain parameters are used in differentiating a small company from a big company. Such parameters include: BUSINESS SIZE: Organization size can be determined by the number of employees and IT staffs that work in it. SMEs have lesser employees; say from 10 employees to 200. But large corporations have larger number of
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General Administrative Tasks Cut Costs and Expand Your Business Productivity with Administrative Help from a Remote Office Assistant. This is a big time saver for any business. Have a Remote personal assistant (with a 3 year university degree) to do your busy work for you. Imagine all the time you will save when an administrative assistant takes over many of your office support tasks. From presentation creation and data entry to answering phones and personal tasks‚ a general tasks VA is there
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Profit Determination Prepared by John Hoggett and Clare Innes Measurement of Profit • Cash basis • Cash income received - Cash expenses paid – Revenues recorded when received – Expenses recorded when paid • Accrual basis • Profit = Income (incl. Revenues) - Expenses – Revenue is recognised when the anticipated inflow of economic benefit can be reliably measured – Expenses when the consumption of benefits can be reliably measured 2 Adjusting Entries • The need for adjusting entries-
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Case Study- Color Film Industry By: Ankur Garg Early Color Film Industry was dominated by Kodak and had almost 80% to 90% of market share until 1980’s. Kodak was clearly a price maker and also faced several Antitrust Law suit. In 1921 it faced its first lawsuit as Kodak was monopolizing the market by buying competitors and imposing various restrictions on retailers. It faced lawsuit again in 1954 and 1992. Kodak famous Campaign Slogan “You push the button‚ we do the rest” made photography
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Definition: In economics‚ production is the act of creating output‚ a good or service which has value and contributes to the utility of individuals.[1] The act may or may not include factors of production other than labor. Any effort directed toward the realization of a desired product or service is a "productive" effort and the performance of such act is production. The relation between the amount of inputs used in production and the resulting amount of output is called the production function. Economics
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