Q4) what are the advantages and disadvantages to a firm of operating on a large scale? Economies of scale fall under microeconomics and are the cost advantages a business obtains due to expansion. As scale is increased they cause a producers average cost per unit to fall. Microeconomics (from Greek prefix micro- meaning "small" and "economics") is a branch of economics in which you study the behaviour of how the individual firms make decisions to allocate limited resources. Normally‚ it applies
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to keep in touch and became very close with one another. I communicated with her in English and shared some information about Malaysia as well as a little about Asia and its ethnics as she too shared about where she resides in. However‚ our conversation shortly became rigid and tense as our cultural differences arose. Jenny had a frank and straightforward way of communicating which at some point was hurtful and discriminating. What anger me most was when Jenny assumed that I‚ as someone raised
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Aztecs I would be a Mayan Aztec is not for me I didn’t choose the Aztecs for a couple of reasons. One of them is the sheer number of people they have. The Aztecs stood at about 6‚000‚000 people‚ which is way to many. They are also very war oriented and formed most of their alliances this way. I‚ personally‚ am much more interested in the arts than in war. If I could choose to live in the Aztec‚ Inca‚ or Mayan empire‚ I would easily choose the Mayan civilization. From a personal point of view‚ I would
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My trade is Brick laying because I would like to build things when I get a home. I choose Job Corps because they would help me with my school and get a career and have a better future. I need to be built in my body and be healthy as well and know what I have to do for my job. I’m need boots‚ pants and gloves‚ with hard work in my trade. I’m need to focus on the job be on time‚ do what I got to do and show that I really want to get this job. I prefer to work in a group because it keeps me
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Diversification Economy in Las Vegas “Las Vegas is lagging behind many cities in the recovery because we were in much worse shape than most cities‚” David Christianson‚ who is a TCA 449 professor in University of Nevada‚ Las Vegas who is a knowledgeable international tourism professor said so in my personal interview‚ “Since we are a mono economy‚ any kind of diversification would be helpful.” The dominating economy in Las Vegas are from gaming‚ tourism‚ convention and meeting‚ which then could
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[NOVEMBER The Nature of the Firm By R. H. COASE ECONOMIC theory has suffered in the past from a failure to state clearly its assumptions. Economists in building up a theory have often omitted to examine the foundations on which it was erected. This examination is‚ however‚ essential not only to prevent the misunderstanding and needless controversy which arise from a lack of knowledge of the assumptions on which a theory is based‚ but also because of the extreme importance for economics of
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Firms did not flourish until the early 20th century. They emerged as an authorized structure and were granted exclusive rights to trade and conduct business in certain markets and products. The fact that firms are a different way to organize economic activities cannot explain explicitly and adequately the reason of firm formation. Many socialists and economists have given their interpretations of the conditions under which firms emerged and developed in certain ways in a specialised exchange economy
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CHAPTER 3 The Competitive Environment Learning Objectives Upon completing this chapter‚ you should be able to: Identify the structural characteristics of the environment faced by the firm and how these drivers influence both competition and value creation Choose the appropriate level of specificity in environmental analysis‚ depending on the locus of the decision-making group Predict how changes occurring in the environment might influence future competition and value creation Incorporate understanding
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Why do some children need to be taken away from their families? This is a report about why children and young people may be looked after away from their families. It will also look at the views of children through accounts of their experiences‚ thoughts and opinions about being looked after away from their families‚ it will also look at family related and child-related reasons why children would be taken away from their families and looked after elsewhere. A person called Dr Roger Morgan published
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but‚ other members of Congress can veto the presidents ideas. Document A and document E that the president was supposed to have limited powers but ultimately they are unlimited. One specific piece of evidence that I found was‚ “The President was given ONLY the powers included in Article II of the US Constitution.” These powers include; with the consent of the Senate he can make Treaties‚ from time to time he will give Congress Information of the State of Union‚ and he shall make
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