Micro Economics:- Microeconomics is a branch of economics that analyzes the market behavior of individual consumers and firms in an attempt to understand the decision-making process of firms and households. It is concerned with the interaction between individual buyers and sellers and the factors that influence the choices made by buyers and sellers. In particular‚ microeconomics focuses on patterns of supply and demand and the determination of price and output in individual markets (e.g. coffee
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MACRO AND MICRO FACTORS AFFECTING THE STEEL INDUSTRY (TATA STEEL) The world GDP‚ as reported by International Monetary Fund‚ was on an upturn‚ growing by 5% in 2010 as compared to a negative growth of 0.5% in 2009. While the growth in the advanced economies was 3.0% in 2010‚in contrast to -3.4% in 2009‚ the emerging and developing economies grew by 7.3% in 2010 when compared to the growth of 2.7% in 2009. The growth in the developing and emerging economies slowed down during the end of 2010
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Micro vs. Macro Economics Micro-indiidual consumers/firms Macro-economic aggregates-GDP‚ inflations‚ unemployment Markets-opportunity for exchange 1) Opportunity Costs-value of the next best for gone alternative when a decision is made -all decisions involve an opportunity cost (assuming the firm operates efficiently) 2) Marginal Analysis-analyze situations involving incremental change -marginal: something is changing by a small amount (incremental/one-unit change) 3) Laws of supply and
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Textile Industry TEXTILE INDUSTRY The textile industry is one of the most important sectors of Pakistan. It contributes significantly to the country’s GDP‚ exports as well as employment. It is‚ in fact‚ the backbone of the Pakistani economy. Establishment I want to do this! What’s This? [pic]Pakistan is the fourth largest cotton producer in the world. Because of its plentiful‚ indigenous cotton supply‚ the textile industry is central to the Pakistani economy and is both
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REPORT ON TEXTILE INDUSTRY IN INDIA March‚ 2013 A brief report on Textile Industry in India 1. OVERVIEW OF INDIAN TEXTILE INDUSTRY 1.1 Background India Textile Industry is one of the leading textile industries in the world. Though was predominantly unorganized industry even a few years back‚ but the scenario started changing after the economic liberalization of Indian economy in 1991. The opening up of economy gave the much-needed thrust to the Indian textile industry‚ which has
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The micro-macro dilemma relates to a variety of circumstances and situations and is essential for numerous decisions daily that people make. This is particularly true for many of the business decisions that organizations make in concerns to marketing. From the perspective of marketing‚ high-powered engine in cars is a pleasurable and worthwhile option or many consumers‚ especially consumers who enjoy driving high-powered vehicles or participate in recreational activities that require the high-powered
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Production planning and control in textile industry: A case study Nikos I. Karacapilidis GMD - German National Research Center for Information Technology‚ Artificial Intelligence Research Division‚ Schloss Birlinghoven‚ 53757 Sankt Augustin‚ Germany Costas P. Pappis Dept. of Industrial Management‚ University of Piraeus‚ 185 34 Piraeus‚ Greece This paper presents an interactive model based system for the management of production in textile production systems focusing on the Master Production
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0 01 2 1 20 0 Indian Textile Industry: A Growth Perspective Mr. Sachit Jain Vardhman Group Singapore‚ March‚ 2010 1 g in S e or p ga n Si 1 20 0 Indian Textile Industry: Growth Drivers e or ap 0 01 2 o Global Opportunities o Domestic Policy Frame-Work o Manufacturing competitiveness 2 g in S 0 1 The consolidation of textile manufacturing in Asia 20 e or p gives impetus to Indian Textile Industry growth ga n Si e or ap
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Economics with Study Guide. Cincinnati: South-Western College Publishing. • "Macroeconomics/Microeconomics." Encyclopedia of Business and Finance. Ed. Allison McClintic Marion. Gale Cengage‚ 2001. eNotes.com. 2006. 20 Nov‚ 2009 • McCrane‚ Jim. “Macro vs. Microeconomics: How Do The Courses Compare?” ----------------------- [1] Source->
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“Economics has never been a science - and it is even less now than a few years ago.”…Paul Samuelson INTRODUCTION Economics is the social science that analyzes the production‚ distribution‚ and consumption of goods and services. A focus of the subject is how economic agents behave or interact and how economies work. A given economy is the result of a process that involves its technological evolution‚ history and social organization‚ as well as its geography‚ natural resource endowment‚ and ecology
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