Various Elasticities of Demand: Price Elasticity
The Elasticity of Demand measures the percentage change in quantity demanded for a percentage change in the price. Simply, the relative change in demand for a commodity as a result […]
Using Elasticities in Managerial Decisions
The concept of price elasticity of demand has important practical applications in managerial decision-making. A business man has often to consider whether a lowering of price will lead to an […]
ME/U2 Topic 6 Revenue Concepts
The revenue of a firm jointly with its costs ascertains profits. Now let us discuss the concepts of revenue. The term revenue denotes to the receipts obtained by a firm […]
Relevance of Demand Forecasting and Methods of Demand Forecasting
According to Evan J. Douglas, “Demand estimation (forecasting) may be defined as a process of finding values for demand in future time periods.” In the words of Cundiff and Still, […]
Nature and Scope of Managerial Economics
Managerial economics generally refers to the integration of economic theory with business practice. Economics provides tools managerial economics applies these tools to the management of business. In simple terms, managerial […]
Managerial Economics Relationship with Other Subjects
Many new subjects have evolved in recent years due to the interaction among basic disciplines. While there are many such new subjects in natural and social sciences, managerial economics can […]
Small Industry Setup
The small scale industry sector has flourished in the Indian economy over the past five decades. In India, the small scale industries accounts for about 95 percent of industrial units […]
Types of Organization: Sole Proprietorship, Partnership
It is important that the business owner seriously considers the different forms of business organization—types such as sole proprietorship, partnership, and corporation. Which organizational form is most appropriate can be […]
Joint Stock Company
The simplest way to describe a joint stock company is that it is a business organization that is owned jointly by all its shareholders. All the shareholders own a certain […]
Co-Operative Organization
A cooperative organization is an association of persons, usually of limited means, who have voluntarily joined together to achieve a common economic end through the formation of a democratically controlled […]
Organisational Locations
Organizational location comes in many flavors. One of the most widely used among larger organizations is a geographic organizational location. A form of top-down organizational location, a single executive division […]
Steps in Starting a Small Industry
Who do establish small business enterprises? Broadly, there are two types of people who establish small enterprises. One people who want to take the advantages of opportunities available. Two, people […]
Incentives and Subsidies Available for Small Industry
An incentive and Subsidies are a motivational factor which induces a person to work hard or to do his work more efficiently. Many incentives and Subsidies are provided both by […]
Export Possibilities
When you get involved in an import-export type of business, you will need to chase opportunities along the way. Paying attention to the trading process is even more important for […]
Project and Report Search for Business Ideas
Somewhere between scribbling your idea on a cocktail napkin and actually starting a business, there’s a process you need to carry out that essentially determines either your success or failure […]
Transformation of Idea into Reality
First of all, recognize that ideas are just ideas. In order to turn your business idea into reality, you need to start executing them. Once you settle on an idea […]
