Chapter 1 Nepalese business Environment Business is an organization‚ trade‚ commerce‚ profession‚ occupation and industry carried out to make profit through customer satisfaction. Environment literally means the surrounding external objects influences or circumstances under which someone or something exists. Business environment can be defined as the combination of the entire factor that influences a business activity. A business firm exist in two worlds i: e internal and external
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NMIMS Global Access School for Continuing Education (NGA-SCE) Course: Business Economics SEM – I 1. Calculate Elasticity in the following cases: a) Assume that a business firm sells a product at the price of Rs 500. The firm has decided to reduce the price of the product to Rs 400. Consequently‚ the demand for the product is raised from 20‚000 units to 25‚000 units. Calculate the price elasticity of demand. ANSWER A: PRICE ELASTICITY OF DEMAND: MEANING: Price elasticity of demand
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The external Environment of business refers to the external forces which consist of legal-political‚ economic and culture‚ that play a part in influencing the direction that the firms take. The legal element of the environment is the framework of rules laid down by the government which business must operate. The labor laws protect the rights of the NBA players by providing for contracts of employment ‚ compulsory insurance ‚ recognition of National Basketball Association and industrial
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$500‚000 x 14% = $70‚000 Explicit Costs: What is paid for products/services = $80‚000 Total Economic Costs: Implicit Costs + Explicit Costs = $70‚000 + $80‚000 = $150‚000 b) Economic Profit: Total Revenues – Total Economic Cost = $175‚000 - $150‚000 = $25‚000 c) Accounting Profit: Total Revenues – Explicit Costs = $175‚000 - $80‚000 = $95‚000 d) New Implicit Costs = $500‚000 x 20% = $100‚000 Economic Profit: $175‚000 – ($100‚000 + $80‚000) = $ (5‚000) Chapter Two Technical Problem 1 Qd
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organisms. This technology allows scientists not only to exchange genes from members of the same species‚ which is what farmers and nature has been doing through out history‚ but also the exchange of genes between completely separate species. For example genetic engendering allows scientists to insert the genes from a fish into a tomato‚ something that can never happen in nature. Many in the biotechnology industry claim that the recent advancements in this field of research will help solve many of
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negligible part of it. The mind has identified a man from the animal world and has given him a tremendous power. During the centuries people have been striving not to adapt to the natural environment‚ but to make it convenient for their existence. Now we realize that any human activity has an impact on the environment‚ and the deterioration of the biosphere is dangerous for all living creatures‚ including humans. Up to 85% of all diseases of modern man associated with adverse environmental conditions
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affect BA’s operation can be stakeholders of British Airways. Stake holder can be either internal or external. Internal stakeholders: are those who are involved with business internally for example owners‚ shareholders‚ managers and employees. External Stakeholders: are those who are involved in business externally for example customers‚ suppliers‚ local community and government. Owner: Since BA is public Limited Company so it belongs to its share holders. More control goes to that individual
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The Business Environment and the AIS An AIS does not exist in a vacuum; rather it is an integral part of the firm it serves. The AIS has close relationship with the organization of the firm and its physical operations or process. The firm itself is a system with its own environment. Many of the business and accounting events that are captured and processed by the AIS arise within the environment of the business firm. There are three subsystem of the firm: organizational‚ operational and information
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Human impact on the environment Human beings compete with other living things for resources and space. As the world’s population continues to increase‚ and standards of living improve‚ there is serious danger of a permanent change to the global environment. In the year 1800 the population was just 1billion‚ now it is more than 6 billion. With the population increasing the waste produced is also increasing and so is the pollution causing massive changes in the environment. Pollution is a massive
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The purpose of this essay is to analyse the performance of Barratt Developments PLC as an example of any organisation in terms of business‚ economic and management concepts. One of the most important and influential elements of the business environment is the structure of the industry. How a firm performs depends on the state of its particular industry and the amount of competition it faces. (Book) To describe the characteristics of the modern construction industry we should look at the nature of
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