in an oligopoly is economies of scale. Economies of scale generally refer to the cost advantages that will be associated with large organizations. Margaretta (2012‚26) suggests that companies pursue economies of scale in the belief that this will be decisive in determining a competitive advantage and increased profitability. Woolworths enjoys significant economies of scale in relation to its competitors. In the supermarket industry‚ benefits of economies of scale is usually achieved by buying products
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Returns to Scale Returns to scale is a concept that tries to explain the behaviour of the output in relation to the change in the total scale of operations of the firm. A change of scale of operations means a change in the total size of the firm‚ i.e. a change in both labour and capital of the firm. For determining the returns to scale‚ we need to calculate the Output Elasticity where: Output Elasticity = % change in Output/% change in all inputs The different types of returns to scales are:
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Discuss three problems faced by international students in the UK. Suggest and evaluate possible solutions to these problems. International study is a very common thing nowadays ‚ students tend to study abroad for different reasons. The United Kingdom (UK) and the United States (US) are the most popular countries where students prefer to study. Lebcir‚ Wells and Bond (2008) claim that ’International students constitute an important part of university life in the United Kingdom (UK).Most universities
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Problems faced by Human Resource Department Human resource issues in Administration and the possible solution Human resource department also faces several issues regarding the administrative policies of the business organization. Not only they have to maintain their own administrative policies but also have to devise plan and strategies to properly administer the employees in the university and make presentation and reports to the organization about the staff and its achievements. The possible
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International Conference on Technology and Business Management March 26-28. 2012 The Role of Small Industries Development Bank of India (SIDBI) in developing the Micro‚ Small & Medium Enterprises (MSMEs) in India Anand Chakravarthi anandc2707@gmail.com IBS‚ Hyderabad 1. Introduction to MSMES The Micro‚ Small and Medium Enterprises (MSMEs) sector plays a vital role in the growth of our country in creating employment‚ exports‚ gross industrial value of output‚ gross value added‚ investment
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‘Big Three’ automobile companies are located in this city. The concept of External Scale Economies can help us explain why these three major companies are located in this area. Scales economies are important for a country because they represent a growth in its economy. Companies are able to produce more products or services at a lower cost of input. “External scale economies are based on the size of an entire industry within a specific geographic area.”1 These companies bulk in one specific area in
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Motion in a Viscous Medium Aim The aim of this experiment is to measure the terminal velocity of spherical beads falling under gravity in a liquid determine‚ and hence determine its viscosity using Stoke’s law. Introduction When a stationary solid object is complete or partially immersed in a fluid‚ it experiences an upthrust or buoyant force. According to Archimedes’ principle‚ this buoyant force B is given by where ρ is the density of the fluid‚ Vs is the immersed volume of the
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for peace and development‚ based on the principles of justice‚ human dignity and the well being of all people. However‚ the UN peacekeepers have to face many problems in order to maintain world peace such as‚ non-agreeing members of Security Council‚ high maintenance cost‚ unwillingness of the members to intervene in another nations problem. In 1956‚ the UN created a peacekeeping force and the Security Council was appointed its head. The Security Council consists of five permanent and ten non-permanent
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Economies of Scale * This is the cost advantage that a business obtains due to expansion. * That is the factor that cause the average cost of producing a product to fall‚ as output of the product rises as explained in the ‘Dictionary of Economics’. * By achieving economies of scale‚ a company would have the cost advantage over its existing and new rivals. * Further‚ the company could achieve lower long run average cost (i.e. productive efficiency). But if technology changes‚ this
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RATING SCALES INTRODUCTION Rating scales‚ as the name implies‚ are scales for rating each of the characteristics or activities one is seeking to observe or assess. A rating scale is a set of categories designed to elicit information about a quantitative or qualitative attribute. They enable an observer to systematically and objectively observe a person and record those observations. In the social sciences‚ a common example is the Likert scale in which a person is person selects the rating which
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