4. 1) Labor demand is more elastic the greater the elasticity of demand for the output. When the wage rises‚ the marginal cost of production increases. A wage increase‚ therefore‚ raises the industry’s price and reduces consumers’ demand for the product. Because less output is being sold‚ firms cut employment. The greater the reduction is consumer demand‚ the larger the cut in employment and the more elastic the industry’s labor demand curve. Unions want to limit the availability of goods that compete
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competitive firms increase total revenue by * increasing production (To increase revenue‚ firms look to increase price or quantity‚ as price multiplied by quantity equals total revenue. Purely competitive firms can sell as much as they want at the market price. Adding additional units of the product does not result in a change in the market price. Therefore‚ since purely competitive firms do not influence price‚ they increase total revenue by increasing quantity). 2. What are two ways for a competitive
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CONTENTS 1 EXECUTIVE SUMMARY 2 INTRODUCTION 3 - 7 STUDY OF OBJECTIVES‚ SCOPE & LIMITATION 8 RESEARCH METHODOLOGY 9 - 12 COMPANY PROFILE 13 – 20 CONCEPTUAL BACKGROUND 21 - 25 COMPETITIVENESS OF BUSINESS PROCESS INTEGRATION 26- 65 ANALYSIS & INTREPRETATION 66 - 81 PORTER’S FIVE FORCES MODEL 82 - 84 SWOT ANALYSIS 85 - 87 FINDINGS AND SUGGESTIONS 88 - 89 CONCLUSION 90 ANNEXURE 91 - 92 BIBLIOGRAPHY 93 1. EXECUTIVE SUMMARY This project is done at GARDEN CITY FASHIONS
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SHIFT OF US MARITIME PRIORITIES FROM ATLANTIC TO ASIA PACIFIC REGION 1. Introduction. This “Strategic Shift” essay predicts important changes in United States defence planning during 2012 and early 2013. Through a series of strategic and operational exercises made by United States Navy in the region that placed greater emphasis on the Asia-Pacific and Middle East regions‚ the plan is to shift bulk of its naval assets to Asia within the next decade and increase the number of military exercises
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1. Define the term “collective bargaining” and list and describe four issues that are mandatory components of a collective bargaining agreement. Collective bargaining can be defined as the process of involving representatives from both employers and employees to come to terms and conditions of employment that both parties agree. These agreements are written into legally binding contacts good for one to five years. (Budd‚ 2009‚ p. 229) Four issues that are mandatory components of collective bargaining
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TYPES OF COSTS Introduction :-Production is the result of services rendered by various factors of production.The producer or firm has to make payments for this factor services. From the point of view of the factor inputs it is called ‘factor income’ while for the firm it is ‘factor payment’‚ or cost of inputs.Generally‚ the term cost of production refers to the ‘money expenses’ incurredin the production of a commodity. But money expenses are not the only expensesincurred on the production
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There are many different types of transitions during life between the ages of 0 -19. Some are common‚ happening to most‚ if not all children. Others are less common‚ happening to fewer (a minority) children. All changes can affect children and young people in some way. If children are able to be given the opportunity to ask questions‚ and discuss changes and events then this could help lessen any anxieties and negative effects on their development. Four main types of transitions are below.
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you need to understand the definitions of period costs and product costs. Period costs are not a necessary part of the manufacturing process. Rather they are costs associated with the selling part of the business or its administrative overhead. These costs are expensed in the period in which they occur. Product costs are the direct materials‚ direct labor and overhead associated with making the company’s product. If a unit is not sold‚ these costs are reported as part of the company’s inventory and
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-two weeks per year -4 percent of an employee’s current annual earnings - roughly 6 percent of annual earnings 2. Deferred compensation includes travel expenses paid one month after the travel has taken place. (F) Deferred compensation is compensation received by an employee after the conclusion of his or her period of employment‚ most commonly known as retirement 3. Labor control attempts to obtain maximum efficiency from all employees without compromising standards of labor performance.
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recession that reduces consumer incomes by 10 per cent. (2 marks) (b) How might you determine whether the pre-recorded music compact discs and MP3 music players are in competition with each other? (2 marks) (c) Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; (3 marks total‚ 1.5 marks per part) YED= +0.7 YED= -3.4 (d) Interpret the following Cross-Price Elasticities of Demand (XED) and explain the relationship
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