Distinguish between diminishing returns and economies of scale (15 marks) In Business Economics‚ the short run is defined as the concept that within a certain period of time‚ in the future‚ at least one input is fixed while others are variable and the long run is defined as a period of time in which all factors of production and costs are variable. The law of diminishing returns is a short run concept‚ which states that increasing successive units of a variable factor to a fixed factor
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INTRODUCTION Production is a formal activity that adds value to goods and services‚ including creation‚ transport‚ and warehousing until used. Production is an organized process with specific goals. It implies the creation of a utility or services. Operation is that part of as organization‚ which is concerned with the transformation of a range of inputs into the required output (services) having the requisite quality level. Production function is ‘the part of an organisation‚ which is concerned
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The reason it is important to keep your chain of command informed is because when you are in the military you never know what any one person might need you for and you are a solider 24hours a day 7 days a week 365 days a year. A few of the other reasons are the chain of command mite need to contact you because your unit is being activated in which case you will have to show up with all of the bags and whatever else they tell you to bring in at a certain place at a certain time. Another reason is
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obligation. In its more confined sense‚ it is an agreement between two or more persons‚ concerning something to be‚ done‚ whereby both parties are hound to each other‚ or one is bound to the other. After learning the law of contract‚ we know more about the basic principles of the law governing contracts and use it to solve problems. This assignment includes the explanations of two questions: Question 1: In this passage‚ I describe the differences between offer (proposal) an invitation to treat under common
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Distinguish between primary data and secondary data? Primary data is the data that is collected first hand from the original source for the purpose of making statistical inference while secondary data is the data that is collected by the method of abstraction and is used to make statistical inference by using primary data already collected by an investigator. Primary data is collected by Identifying population of interest choosing sample analyse sample information draw inference from
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1Distinguish between international marketing‚ multinational marketing and global marketing. If we talk in general‚ both Global and International marketing are used interchangeably now-a-days. But if we are talking in terms of marketing theories‚ international marketing was a stage in the evolution of global marketing. Let us see how‚ Stage 1 : Domestic Marketing : Companies manufacturing products and selling those within the country itself. So‚ no international phenomenon at all. Stage
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DISTINGUISHING BETWEEN SCREENING TEST AND DIAGNOSTIC TESTS A diagnostic test is any kind of medical test performed to aid in the diagnosis of detection of a suspected disease or condition. This is different from a screening test which is used when not when a disease or condition is suspected‚ but when people are considered to be at high risk of developing a disease or condition. Diagnostic test are usually performed after a positive screening test to establish a definitive diagnosis. They are
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In Leucippe and Clitophon‚ we find a novel‚ at face value at least‚ with a similar plot to the other ancient novels: the protagonists are two young lovers who go through numerous misadventures‚ while staying true to each other‚ and are rewarded with marriage. However‚ it could be argued that the novel parodies its predecessors and the idealised picture of love portrayed in them‚ and that Achilles Tatius makes a mockery of the ideas typical of the ancient novels – or‚ as Morgan puts it‚ ‘conducts
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Life-span development is literally what it sounds like; how you development from the start of your life until the end. Since taking this class we have really focused on the developmental aspect on the events that have occurred during childhood and the relationships our caregivers have molded for us. One thing that is the biggest factor in how we act and mature is how our parents raise and handle our mistakes. In the movie Mean Girls‚ for example‚ the character Mrs. George‚ Regina George’s mother
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1. BIBLE QUIZ 2013 1. 2 CHRONICLES 1 2. Who was King Solomon? Son of David ch1verse 1 2. What did Moses‚ the servant of the Lord make in the wilderness? a. The tent of meeting of God ch1 verse 3 3. Who made the bronze alter? Bez`alel 1verse 5 4. Who was Bez`ael? Son of Uri/son of Hur 1verse 5 5. What did God say to King Solomon when He appeared to him in the b. night? Ask what I wil give you 1verse 7 6. Who said these words‚ "O‚ Lord God. Let they
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