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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1. The environment is the surroundings or conditions in which a person‚ animal‚ or plant lives or operates; the natural world affected by human activity. 2. Environmental science is the study of the interaction between living and nonliving‚ physical‚ chemical‚ and biological components of the environment including their effects on all types of organisms but most often the impact humans have on the environment. Ecology‚ conservation biology‚ forestry‚ soil science‚ forest technology and physics are
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Perfect competition A perfectly competitive market is a hypothetical market where competition is at its greatest possible level. Neo-classical economists argued that perfect competition would produce the best possible outcomes for consumers‚ and society. Ex:- Wheat‚ rice Key characteristics Perfectly competitive markets exhibit the following characteristics: 1. There is perfect knowledge‚ with no information failure or time lags. Knowledge is freely available to all participants‚ which means
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References: Huynh‚ ML 1999‚ ‘Concept and Poverty Line’‚ viewed 28 June 2012 . Causes of Continuing Poverty‚ 2003‚ viewed 28 June 2012 < https://docs.google.com/viewer?a=v&q=cache:eOX7jyA_8XgJ:epress.anu.edu.au/wp-content/uploads/2011/02/ch152.pdf+&hl=en&gl=my&pid=bl&srcid=ADGEESgpPdSPTOjU7ZsR3g9-cjoStiEWg1EMwg_6RogF3EVvx51DjqPc5Ijlx745lLIXK3fmJblUTt1MWnuS0b9mnSSWX1dtTMZcg1LfSMkwu9kggOU7oYiojZ5UdY9abHsJhikSR8B2&sig=AHIEtbRAYR63p5VRmScWAoyCNMmPpB3LJA>
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1. General overview of GATS The General Agreement on Trade in Services (GATS) is the first and only set of multilateral rules covering international trade in services. The definition of services trade under the GATS is four-pronged‚ depending on the territorial presence of the supplier and the consumer at the time of the transaction. The GATS covers services supplied a. Cross border trade: from the territory of one Member into the territory of any other Member. b. Consumption abroad: in
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THE BASICS OF SUPPLY AND DEMAND - EXERCISE 1) Use supply and demand curves to illustrate how each of the following events would affect the price of butter and the quantity of butter bought and sold: a. An increase in the price of margarine. b. An increase in the price of milk. c. A decrease in average income levels. 2). Use Supply and demand curve shifts to illustrate the effect of the following events on the market for apples. Make clear the direction of the change
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In Robert Graves "The Naked and the Nude" he supplies the reader with an anomaly by characterizing naked and nude as two opposing ideas. Essentially‚ the words "naked" and "nude" have the same definition‚ however‚ in a progressive society‚ the two words are associated with different interpretations. Robert Graves conveys the differing interpretations through the exertion of imagery with usage of couplets‚ parallelism‚ and a fluctuating tone to distinguish the contrasting views between the interpretation
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predatory pricing where‚ so long as costs are covered‚ a firm may reduce price to drive rivals out of the market. Sales maximisation means achieving the highest possible sales volume‚ without making a loss. To the right of Q‚ the firm will make a loss‚ and to the left of Q sales are not maximised where AC=AR. [1] Managers are more interested in firm size than profits. Size leads to greater monetary and non-monetary rewards. For example‚ managers usually have sales related bonuses. As well
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Overview of Autonomic Computing The concept of autonomic system is introduced in 2001by Dr. Paul Horn (Cybenko). This concept is a way to address the unsustainable growth in administration costs for model software‚ computing and networking system. There are some paradigm that this concept is introduces such as self-aware‚ self-repairing and self-optimizing application software‚ operating system and network infrastructure. Autonomic computing system has a sense of self-awareness which prevent IT
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Project Management Fundamentals WELCOME Slide 1 UNIT 1 – INTRODUCTION AND BASIC CONCEPTS PROJECT MANAGEMENT FUNDAMENTALS UNIT 1 INTRODUCTION AND BASIC CONCEPTS Slide 2 UNIT 1 – INTRODUCTION AND BASIC CONCEPTS Course Structure INTRODUCTION AND BASIC CONCEPTS INITIATION 2 Slide 3 1 PLANNING EXECUTION AND CONTROL CLOSURE 3 4 5 UNIT 1 – INTRODUCTION AND BASIC CONCEPTS Welcome to the KION Project Management Fundamentals Course • Objectives:
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