increase the tax on petrol. Examine the relevance of price elasticity of demand for this proposal. When considering increase the tax on petrol‚ there are a few things to look at. First of all‚ the price elasticity of demand is a measure of responsiveness of the quantity of a good or service demanded to change in its price. Petrol is an inelastic product. This is because petrol is a needed in a daily basis. An increase in price of petrol will cause a small change (decrease) in petrol. Therefore it is
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[pic] BUSINESS ECONOMICS FINAL REPORT ON ELASTICITY OF DEMAND OF PETROL AND CNG SUBMITTED TO: SIR FAISAL SULTAN QADRI PREPARED BY: Syeda Tabinda Naz Anum Zehra Madiha Khan ACKNOWLEDGEMENT We owe our profound thanks and deepest gratitude to ALMIGHTY ALLAH‚ most merciful‚ who blessed us with determination‚ strength‚ ability and divine help to complete this report. This Report is on ELASTICITY OF DEMNAD OF PETROL. This report is a part of our course titled as Business economics conducted
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personally am of the belief that increasing petrol cost is not the only solution to resolve the traffic issues and inevitably‚ governors should choose alternative parameters to decrease the potential causes of such difficulties. Living in the 21st century has increased people`s tendency to use their private cars excessively in comparison to the past‚ chiefly because of the modern lifestyle that people have chosen for themselves. In addition‚ expensiver petrol price might be a constructive measure for
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the major oil company in Malaysia has conducted two main businesses‚ which is the fuel business and the convenience store business. Under the fuel business‚ the petrol stations sold Petrol Ron 95 (R95)‚ Petrol Ron 97 (R97)‚ and Diesel. Mr Aiman was as an Area Manager is responsible for directing the sales activities of more than twenty petrol stations in the northern region of Malaysia. They are having a difficulty to sustain in the business even though they are in the stable business segment and consistent
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The Government introduces a high rate of tax on petrol. This tax may have negative effects on many drivers. Should the Government repeal or relax the tax? Contents 1. Introduction……………………………………………………………………………………………………………….1 2. Findings………………………………………………………………………………………………………………………2 3. Conclusions…………………………………………………………………………………………………………………4 4. Recommendations………………………………………………………………………………………………………4 5. References…………………………………………………………………………………………………………………..5 Introduction
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Modeling Queuing Phenomenon at Petrol Pumps -A Case Study of Bharat Petroleum Rakesh Kumar Lecturer School of Mathematics Shri Mata Vaishno Devi University‚ Sub Post Office‚ Katra-182320 (J&K)-INDIA Abstract The queuing problems are more frequent everywhere. A significant amount of time and resources are wasted if we do not have a suitable mechanism to deal with the rising congestion/queuing problems. This study is a part of a consultancy project which is undertaken at Bharat Petroleum. The problems
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INTRO Definition of ’Price Elasticity Of Demand’ A measure of the relationship between a change in the quantity demanded of a particular good and a change in its price. Price elasticity of demand is a term in economics often used when discussing price sensitivity. The formula for calculating price elasticity of demand is: Price Elasticity of Demand = % Change in Quantity Demanded / % Change in Price If a small change in price is accompanied by a large change in quantity demanded‚ the product
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ASSIGNMENT 1 What Happen the Petrol Price Decrease in the Ends of 2008 and its Effect on Consumers and Suppliers. Petrol is a petroleum-derived liquid mixture‚ primarily used as fuel in internal combustion engines. It also is used as a powerful solvent much like acetone. Petrol is very important in our life. Most current or former Commonwealth countries use the term "petrol"‚ abbreviated from petroleum spirit. In North America‚ the word "gasoline" is the common term‚ where it is often
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| Marketing Mix and Retail Petrol Outlets | The Four P’s | | Introduction This report aims to address four elements that collectively create the marketing mix. These marketing tools will then be analysed and how these marketing elements are applied to retail petrol outlets within Australian will be discussed. The Marketing Mix elements collectively are made up of the four P’s; Product‚ Price‚ Place and Promotion. Marketing as often defined‚ utilises these four tools; putting the right
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GEZ PETROL STATION: USING COST-VOLUME-PROFIT ANALYSIS FOR PLANNING By KU NOR IZAH KU ISMAIL (Corresponding author) School of Accountancy UUM College of Business Universiti Utara Malaysia E-mail: norizah@uum.edu.my Tel: 04-9283906 And WAN NORDIN WAN HUSSIN Othman Yeop Abdullah Graduate School of Business Universiti Utara Malaysia GEZ PETROL STATION: USING COST-VOLUME-PROFIT ANALYSIS FOR PLANNING INTRODUCTION As an Area Manager of GEZ Bhd‚ a major oil company in Malaysia
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