TASK 1 Consider the following equation: MRSXY < PX/PY where MRS = marginal rate of substitution x and y are two goods P = price < = is less than {draw:frame} The graph above shown us the indifference curve budget line diagram which explaining the equation MRSXY < P X / PY. There are two ways to measure the consumer preferences or what the consumer wants. The first one is by trying to put a ‘value’ on the satisfaction a consumer obtains from consuming
Premium Supply and demand Consumer theory
Global factors affecting business The way of running the business differs from country to country. The marketing‚ sales and technical skills are required to increase the productivity of business. Business in general is enhanced when people from different cultures find new approaches to old problems‚ creating solutions by combining cultural perspectives and learning to see issues from the viewpoint of others. Business Environment consists of factors influential to the business operations. These
Premium Economics Business Strategic management
more information. We know that the demand for a product is elastic if: Select correct option: When price rises‚ revenue rises. When price rises‚ revenue falls. When price rises‚ quantity demanded rises. When price falls‚ quantity demanded rises The demand for chicken is downward-sloping. Suddenly the price of chicken rises from Rs. 130 per kg to Rs. 140 per kg. This will cause: Select correct option: The demand curve of chicken to shift to the right. The demand curve of chicken to shift to the left
Premium Supply and demand
1. Discuss the nature of the market structure and the demand for Cisco’s products. The nature of the market structure and demand of Cisco Systems is its business market which contains fewer bvut larger companies. For Cisco Systems‚ this implies that even though they have fewer clients than other companies‚ they still have a good and profitable relationship with their clients. For the customers of Cisco Systems‚ this implies that they will receive better and faster service and products
Premium Supply and demand Router Cisco Systems
virtually no wait for Sunday or Monday evening. How do you explain these events using demand and supply? Market demand is the demand by all the consumers of a given good or service. In the case of a restaurant‚ the demand for meals on a Friday and Saturday night is very high‚ as traditionally‚ these are evenings where people are more likely to go out and have a good time‚ as it is the end of the week. Therefore‚ the demand on these nights is significantly higher as we can see by the fact that there is
Premium Mother Employment Family
Factors Affecting Organizational Design Although many things can affect the choice of an appropriate structure for an organization‚ the following five factors are the most common: size‚ life cycle‚ strategy‚ environment‚ and technology. Organizational size The larger an organization becomes‚ the more complicated its structure. When an organization is small — such as a single retail store‚ a two-person consulting firm‚ or a restaurant — its structure can be simple. In reality‚ if the organization
Premium Organization Environment Natural environment
Factors Affecting the Poor Academic Performances of College Education Students The research consists of an investigation of students’ behavior‚ attitudes‚ and home environment as it relates to misbehavior in school and the need for discipline. So that the study may be understood within the context of the existing work in the field‚ this chapter of the proposal presents a review of the research on school discipline. The review begins with a delineation of basic patterns of school misbehavior which
Free University College Education
accounting profession has always been how to attract competent applicants. In recent years the demand for accounting graduates has been strong. Although a severe economic downturn beginning in the fall of 2008 lessened the demand for accounting graduates‚ the employment outlook for entry-level accountants overall is positive. The purpose of this survey study is to assess the relative importance of factors affecting students’ employment choices (Bloom & Myring‚ 2011). The results of this study can
Premium Decision making Decision theory Decision making software
Kuis 5 1. The countries of A and B are small island countries. Both produce fruit and timber. Each island has a labor force of 30. The following table gives production per month for each worker in each country. Workers | Baskets of Fruit | Board Feet of Timber | A | 10 | 10 | B | 4 | 8 | a. Which country has an absolute advantage in the production of fruit? Which country has an absolute advantage in the production of timber? b. Which country has a comparative advantage in the
Premium Supply and demand
Factors affecting Cultural tourism Economic Impact The events and festivals are recognized as economic drivers‚ with their help business and tourism are not only industry field which benefits from festivals‚ but the most cities and municipalities themselves benefit. Cultural tourism has been placed at the center of many urban regeneration strategies because it can provide the basis to reanimate city centers‚ rejuvenate existing cultural facilities‚ create new cultural
Premium Tourism City Cultural tourism