of demand relevant for various functional areas of management. Q.4Distinguish between short run production function and long run production function. The law of diminishing returns is sometimes known as the law of Variable proportions how? Explain the law with examples and figures. Q.5(a) Oligopolists are more likely to match the price cut then a price increase by a competitor why? Explain with example. (b)In perfect competition AR=MR and in monopoly AR>MR
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CONSUMER BEHAVIOUR LESSON 41: INDUSTRIAL BUYING BEHAVIOUR Introduction A model is very often referred to as an abstract representation of a process or relationship. In this chapter we are going to deal with the industrial buying process with the help of the Sheth model of Industrial buying. • Perceived risk: When the decision involves risk‚ more members of the DMU will be involved. • Type of purchase :If the type of problem is an extensive problem‚ then more members of Objectives After studying
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What is Organizational Behaviour? Organizational behavior is a field of study that investigates the impact that individuals‚ groups and structures have on behavior within an organization for the purpose of applying such knowledge towards improving an organization’s effectiveness.[1] It is an interdisciplinary field that includes sociology‚ psychology‚ communication‚ and management; and it complements the academic studies of organizational theory (which is focused on organizational and intra-organizational
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Cost Definition: A actual amount that has to be paid or given up in order to get some thing. In business cost is usually a monitory valuation of * Effort * Material * Resources * Time * Utilities consumed * Risk incurred * Opportunity foregone in a product. * Delivery of goods or services. * All expenses and cost Classification of cost Purpose of classification | classification | Preparing External Financial statements | Product classification (Inventoriable)
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Three most important things in the history of the Industrial Revolution; 1) Urbanization: By industrial revolution migrations started from rural areas to the urban areas. So new economic incomes appeared apart from agriculture. 2) Steam Engine: In my opinion it was the most important invention during the industrial revolution. It was appeared in 1698 and people improved it in further years. People were able to transport wood‚ fur and coal by these trains. Also this steam engine used in ships‚
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The Industrial Revolution was a time period that the working class really suffered in. Cities and jobs were packed and workers were being treated unfairly. Children were the most affected by this negative aspect of intense unfair labor. Although there was a good side to this time period‚ for the upper and middle class this period was a positive and a great advancement in transportation‚ machinery‚ medicine‚ and new inventions. The negatives in this situation for the working and poor class definitely
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Industrial buyer behaviour Types of organizational markets The government are a major purchaser of health‚ defence‚ social security‚ transport‚ communications and education the government use a complex buying procedure using bids the EU law states that government is not allowed to protect its own industries by favouring domestic bids but must be seen to accept the lowest bid. Institutional markets are organizations with non business goals like education centres and charities organizations selling
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life for all time. The Industrial Revolution started in Britain. In contrast with most political revolutions‚ it was neither sudden nor swift. Instead‚ it was a long slow‚ uneven process in which production shifted from simple hand tools to complex machines. New sources of power replaced human and animal power. In the 250 years since it began‚ the Industrial Revolution has spread from Britain to the rest of Europe‚ to North America‚ and around the globe. 4. Industrial-age travellers moved rapidly
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Justin Grzechowiak Essay #1 During the second industrial revolution the U.S. was expanding and advancing rapidly. This ultimately led to a lot of corruption and most importantly a very unequal distribution of wealth amongst the people. The factory owners of this time period were living lavishly while their hard working employees were struggling to put food on the table. The gap between the rich and the poor was growing just as fast as the country itself. Something needed to be done about
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The Industrial Revolution The Agriculture Revolution was a time when people worked the land by using simple hand tools. By the 1800’s‚ most people in Western Europe and the United States lived on farms. The nation’s economy was based on farming and the making of goods by hand and trading. They lived in rural areas in little cottages lit with firelight and candles. They made their own clothes and grew their own food. The system of making your own clothes was called the putting out system. The
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