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free market economy functions automatically, explain why in practice most countries adopted some form of the mixed economy in allocating resources. Mixed economy is a method of organizing the economy to produce goods and services. Under thi...
Agency conflict between management and shareholders arise as a result of different goals of managers and shareholders. Although, organizations have a single goal, to maximize the wealth of shareholders; however, managers sometimes peruse th...
economic costs depend a huge deal on the cost of the alternative that is chosen as well as the extent of the benefit the best alternative can provide. The striking feature in the case of economic costs is the inclusion of opportunity cost w...
Businesses & Pricing by Market Structures The behaviour of competitors and the barriers to entry is the two factors on which the output decisions and pricing of the firm depends upon. The behaviour of a firm can be easily influenced by the ...
a few producers. Furthermore, entry by new firms into the market is impeded; consequently, firms in an oligopolistic industry can earn substantial economic profits over the long run. Products produced by oligopolies can be relatively homog...
economics, management science, etc. It is linked to the understanding of the contexts of action, intuitions, feelings that can hardly be understood by those who do not share that experience. Tacit knowledge is integrated in individuals and ...
demands in his life which he wants to be supplied with. There are different concepts which are associated with the demand and supply, for instance elasticity of demand, price and income elasticity and coefficients of them etc. All these con...