Explain the term business cycle in brief
Explain the term business cycle in brief.
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The period of business prosperity alternate along with period of depression. The era of business prosperity consists of within itself the seed of the coming period of depression. One time depression reached the by, recovery starts and rapidly grows in boom or prosperity. On the peak of the boom recession grips the economy that soon slides in depression. To be exact, there are four phase’s are as: boom recession, recovery and depression.
The Business cycles affect business decision. The cycles influence not only the economy within general, but each particularly business firm. The era of prosperity promotes business. It gives new investment opportunities. Similarly, a period of depression slackens business. A manager who is all the time confronted along with the problem of forward planning takes in consideration the phase of the business cycle. It helps to take benefit of the chance ahead or to decrease the chance of heavy losses to the firm.
Illustrates the merits of scarcity definition?
Wages tend to increase while labor demand: (w) and supply both decrease. (x) decreases and supply increases. (y) and supply both raise. (z) increases and supply decreases. Please choose the right answer from above.
Diminishing returns to labor or questions of monitoring and coordination start to overwhelm any gains by specialization and division of labor within this graph at: (1) point a. (2) point b. (3) point c. (4) point d (5) point e.
When, for a perfectly competitive firm that price exceeds the marginal cost of production then the firm must: w) raise its output. x) reduce its output. Y) keep output constant and enjoy the above normal profit. z) lower the price.
Signaling: (w) attempts to finesse adverse selection. (x) involves behavior by agents to communicate special qualifications which will elicit the offer of a contract from a principal. (y) refers to potential employees obtaining skills, education or ex
States the implicit cost concept briefly.
Give a brief introduction of the term P/V ratio and Contribution?
CD sales have fallen from 2000, although sales of DVDs have increased, suggesting such that: (w) supply of prerecorded music should have fallen. (x) law of demand does not apply to the music market. (y) demands of many consumers adjusted to new technology. (z) music i
Derived demand curves for labor slope downwards since: (w) additional workers are usually less skilled and thus deserve lower wages. (x) when another resource is fixed, hiring more workers ultimately reduces output per hour worked. (y) higher wages us
The demand for labor is less elastic when: (w) resource substitution is easy. (x) output demand is relatively inelastic. (y) wages are a huge percentage of total cost. (z) firms have more time to adjust to wage changes. Discover Q & A Leading Solution Library Avail More Than 1426911 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1954785 Asked 3,689 Active Tutors 1426911 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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