Question 1.1 “According to the definition of opportunity cost‚ the more alternatives that we have given up in undertaking an action‚ the higher the opportunity cost.” Please comment on this statement and explain your answers using examples. Ans Opportunity cost of an action refers to the value of the best alternative that must be given up in order to undertake that action. That is‚ the highest-valued option forgone. The statement in the question is uncertain and is determined by situation
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Nature and Scope of Operations Management Operations management is often used along with production management in literature on the subject. It is therefore‚ useful to understand the nature of operations management .Operations management is understood as the process whereby resources or inputs are converted into more useful products .A second reading of the sentence reveals that‚ there is hardly any difference between the terms produ7ction management and operations management .But‚ there are a least
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The Nature and Scope of Managerial Economics Managerial Economics • Managerial economics‚ meaning the application of economic methods in the managerial decisionmaking process‚ and it is a fundamental part of any business. This is happening for several reasons It is becoming more important for managers to make good decisions and to justify them‚ as their accountability either to management or to shareholders increases. Number and size of multinationals increases‚ the costs and benefits
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Increasing Interdependence in the Global Economy Financial management of a company is a complex process‚ involving its own methods and procedures. It is made even more complex because of the globalization taking place‚ which is making the world’s financial and commodity markets more and more integrated. The integration is both across countries as well as markets. Not only the markets‚ but even the companies are becoming international in their operations and approach. This changing scenario makes
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THE ROLE OF SMALL SCALE INDUSTRY IN NATIONAL DEVELOPMENT IN NIGERIA Ayozie Daniel Ogechukwu‚ Delta State University‚ Abraka‚ Delta State‚ Nigeria‚ The Federal Polytechnic‚ Ogun State‚ Nigeria Abstract A business whether small or big‚ simple of complex‚ private or public is created to provide competitive prices. Business in Nigeria has been classified as small‚ medium and large. In both the developed and developing countries‚ the government is turning to small and medium scale industries‚ as a means
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This algorithm is not intended to be used for those individuals with diabetic ketoacidosis or hyperglycemic hyperosmolar states. Target range for Glycemic Control: 140-180 mg/dL 1. STANDARD DRIP DILUTION: Humulin R 100 units in 100mL 0.9% NaCl 2. Start IV Insulin therapy when glucose is above the target range. 3. Insulin infusions should be discontinued when: a. Patient has no history of diabetes and is receiving less than 1 unit/hour. b. Patient receives 1st dose
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Chapter – VIII GLOBALISATION AND INDIAN SMALL SCALE INDUSTRIAL SECTOR Globalisation means gradual integration of economies through free movement of goods‚ services and capital which has significant impact on the economies of both developed and developing countries. Therefore‚ globalisation refers to a process of growing economic interdependence among different countries of the world. Thus‚ in the globalised era‚ the whole world is changing into a global village in the sense that economic activities
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Body Paragraph What is the history of Major scale? At this time young musician people and children don’t know about this. They didn’t pay attention about history. But this story is very interesting and instructive. And all musician people should know this. ‘In ancient Greece‚ Pythagoras is attributed with using the prime intervals of the octave‚ the P5 and the P4 to break the octave into smaller harmonious intervals. Pythagorean tuning influenced music in the middle ages and Renaissance periods
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The issues and challenges faced by the small scale tourism industries are the main aim of this essay in the essay it is critically analysed the difficulties and problems faced by the small scale industry and a lot of research is done on the small scale industries and it is discussed and argued in the essay. It is said that small scale industry is a very vital part of the tourism industry and economically it contributes a lot to the economy which is being talked about. Issues like innovative way of
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The Stanford-Binet Intelligence Scale Robin Snyder PSY/525 October 22‚ 2012 Alyssa Oland The Stanford-Binet Intelligence Scale This paper will cover the historical significance of the Stanford-Binet intelligence scale. This scale was originally called the Binet-Simon scale. Albert Binet and Theodore Simon together created this scale. This scale was originally created for children. Intelligence testing became significant in the 21st century as it enabled mainly schools to
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