Semester I Revised June 2012 Revised Business Economics I Syllabus for F.Y.B.Com from June 2012 onwards University of Mumbai Semester I Module I: Demand analysis Demand function and determinants of demand – Concept and importance of Elasticity of demand‚ Income‚ cross‚ promotional. Case studiesConsumer surplus‚ Demand forecasting: meaning significance and methods-case studies Module II Theory of production and cost Production function-short run and long run- Law of variable proportions- Isoquantproducers’
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often has primary responsibility for promotion and sales (TR); the production department has primary responsibility for development costs (TC); and the finance department has primary responsibility for acquiring capital and‚ hence‚ for the discount factor (i) in the denominator. These functional areas have lots of important overlaps. The marketing department can help reduce costs for a given level of output by influencing customer order size and timing. The production department can stimulate sales
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Economics The economics course provides students with a basic foundation in the field of economics. The course has five sections: fundamental concepts‚ microeconomics‚ macroeconomics‚ international economics‚ and personal finance. In each area‚ students are introduced to major concepts and themes concerning that aspect of economics. Fundamental Economic Concepts SSEF1 The student will explain why limited productive resources and unlimited wants result in scarcity‚ opportunity
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What is Economics? Economics is the study of the production and consumption of goods and the transfer of wealth to produce and obtain those goods. Economics explains how people interact within markets to get what they want or accomplish certain goals. Since economics is a driving force of human interaction‚ studying it often reveals why people and governments behave in particular ways. There are two main types of economics: macroeconomics and microeconomics. Microeconomics focuses on the actions
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Louis Sachar Louis Sachar A.K.A Louis The Yard Teacher is a very well known and award winning author who was born on March 20‚ 1954 in East Meadow‚ New York. Louis was born to his parents Ruth and Robert Sachar. Today Louis is happily married to his wife Carla and has a daughter named Sherre. He is 60 years old and currently lives in Austin‚ Texas. As a kid‚ Louis the Yard Teacher loved playing sports like baseball and tennis. He also enjoyed card games‚ but his favorite was bridge‚ which
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change in price‚ income and other commodities. Calculating price‚ income and crossprice elasticity can review the new cars market‚ it can be found that the demand and supply of new cars are always affected by these three factors. This essay will examine the economic factors that affect the elasticities for new cars. First of all‚ this essay will now examine the PED. The price elasticity of demand "measures the responsiveness of quantity demanded to the price change of a product"‚ and It can
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running had in Louis Zamperini’s life. Unbroken‚ by Laura Hillenbrand is a biography about Louis Zamperini and his journey in life. The novel takes the reader through Louis’ childhood‚ his running career‚ his stay in Japanese POW camps‚ and his later life. His track career and his time in the Olympics had a major effect on him by getting him out of trouble when he was younger‚ saving his life‚ causing him depression‚ and allowing him to meet influential people. From the time Louis starting running
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Comparative essay between the social significances of Louis xiv and Louis xvi Submitted by: - Avaljot Kaur Randhawa Submitted to: -Ms. Finn Course code: -CHY 4U7 Due date: -6th Oct‚ 2014 Introduction Louis xiv and Louis xvi were the two rulers of France. Louis XIV (1638-1715) exemplified the characteristics of absolute monarchy during his 72-year reign. He created the most centralized nation state in Europe and gave birth to a new sense
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Economics is the study of social behavior guiding in the allocation of scarce resources to meet the unlimited needs and desires of the individual members of a given society. Economics seeks to understand how those individuals interact within the social structure to address key questions about the production and exchange of goods and services. First‚ how are individual needs and desires communicated such that the correct mix of goods and services become available? Second‚ how does a society provide
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COURSE: BACHELOR OF COMMERCE (BCOM) UNIT: INTRODUCTION TO MACRO-ECONOMICS QUESTION: MICRO-ECONOMICS AND MACRO-ECONOMICS INTRODUCTION Economics is the foundation of all commercial activity and comprises two areas: microeconomics and macroeconomics. Macroeconomics is concerned with the big picture‚ for example‚ the national economy and gross domestic product. By contrast‚ microeconomics is concerned with the small picture and focuses on theories of supply and demand. Microeconomics is
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