ECONOMIES OF SCALE Economies of scale are basically the increase in efficiency of production as the number of goods being produced in a firm increases. Typically‚ a firm that achieves economies of scale lowers the average cost per unit through increased production since fixed costs are shared over an increased number of goods. Fixed costs are those costs of production that do not change when output changes. There are two types of Economies of Scale: Internal economies External economies Internal
Free Economics Management Costs
International Business: The New Realities‚ 2e (Cavusgil/Knight/Riesenberger) Chapter 1 Introduction: What Is International Business? 1) International business is primarily carried out by individual companies. Answer: TRUE Diff: 1 Page Ref: 4 Skill: Concept Objective: 1-1 AACSB: Dynamics of the global economy 2) The globalization of markets refers to the growing independence and self-sufficiency of countries worldwide. Answer: FALSE Diff: 2 Page Ref: 4 Skill: Concept Objective:
Premium International trade Free trade World Trade Organization
Introduction to India & Indian Economy: India is the seventh largest country by area‚ the second-most populous country with a population of over 1‚241‚491‚960 people. India is surrounded by three-water bodies namely Indian Ocean on the south‚ the Arabian Sea on the west‚ and the Bay of Bengal on the east. India shares its border with 7 countries namely Pakistan‚ China‚ Nepal‚ Bhutan Afghanistan‚ Burma and Bangladesh. India is a democratic country and is governed under a parliamentary system consisting
Premium India Investment Construction
How Important Is Leadership In Political Development? There are many more important factors to human activity than leadership. Effective leadership helps our nation through times of danger and risky situations. In today’s competitive world‚ leadership skills are crucial for both personal and professional development. Leadership is an important function of management which helps an individual or a business to maximize efficiency and to achieve goals. It makes a business and/or nonprofit organization
Premium Management Sociology Leadership
Transition Economies Ms. Cummins Words: 826 (without citation) 1‚006 (with) Many countries these days have switched from a command to a more market orientated economy. This process is called a transition in which many countries have taken‚ including Ecuador. Prior to being a market economy‚ Ecuador was once a command economy which is an economy that has all its decisions made by a central government such as: what to produce‚ how to produce it‚ and for whom to produce. Ecuador’s economy depends heavily
Premium Inflation Mixed economy United States dollar
Barter economy The non-cash exchange of goods and services is known as barter. Bartering was common in earlier societies‚ but is rare in an advanced economy with a stable currency. Barter usually replaces money as the method of exchange in times of monetary crisis. This can occur when the currency may be either unstable or simply unavailable for conducting commerce. A barter exchange operates as a broker and bank. In this type of exchange each participating member has an account that is debited
Premium Trade Money Commerce
Individual in International Law Student`s name: Institution of Learning: The Role of an Individual in International Law At a glance‚ one may assume that individuals do not play a significant role in international law. International law may seem too broad to encompass individuals in any society. This is because that international law has no jurisdiction. It applies regardless of the local jurisdiction sometimes even overriding local legislation. Courts may use international law to pass judgement
Premium Law Sovereignty International law
Which political structure do you believe we are in? Nepal has established Latta-Kapada (we share clothes and other stuffs) relations with China and we have age-old Roti-Beti (we marry across and share the same bread) ties with India.as we know Nepal is a small country wedge between two big economically developed countries. China shares a border in the north and India shares the rest. Besides these Nepal also shares much other relationship between countries and many IGO .So due to which I feel
Premium United Nations Republic of China United States
Chandler Ledgerwood September 13th‚ 2013 American Government Political Socialization On the survey we took in class‚ I scored 16 liberal responses and 9 conservative responses. As for the economic and social political scale‚ I got 8 liberal responses for both. I expected this because I do feel like when it comes to economy we need more government‚ however on the social/political scale I believe we should have less government. ~Family has had a huge impact on my life. Without my parents‚ I wouldn’t
Premium Education Socialization Person
the model of the international marketing task displayed in the text‚ which of the following reasons demonstrates the most important difference between the international marketer ’s task and that of the domestic marketer? (Points: 1) The international marketer must deal with at least two levels of uncontrollable uncertainty instead of one. The international marketer must rely on at least two levels of controllable certainty instead of one. The international marketer is never
Premium Marketing