26Nov 2018 by admin

Sources, Treatment, Manufacturing Process and Disposal of Cane Sugar Industry Effluents

Industry
Today, the sugar industry is the third largest industry in the country and ranks next only to the iron and steel, and cotton industries. The effluent from sugar industries contains a large amount of dissolved organic matter.This organic matter is readily decomposed by biological action. Consequently, discharge of these liquors to surface water causes serious damage to aquatic life. In India, there are about 314 sugar factories, of which 90 are in U.P. The statewide position is given in. Of about 4.1 million tonnes of sugar produced annually, 1.1 million tonnes are produced by Uttar Pradesh. Standards for Pollutants: The standards prescribed by the Uttar Pradesh Pollution Control Board, Bureau of Indian Standards, and some developed countries, e.g., the UK, USA, Japan and Switzerland. ADVERTISEMENTS: The variations in case of…
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26Nov 2018 by admin

4 Main Responsibilities of a Managerial Economist

Management
Let us now examine have can the Managerial Economist best serve the management. He can serve the management best when he recognizes and adher to his responsibilities towards the management. The main responsibilities of a managerial economist are the following: Responsibilities 1. To make reasonable profits on capital employed: He must have strong conviction that profits are essential and his main obligation is to assist the management in earning reasonable profits on capital invested by the firm.He should always help the management to enhance the capacity of the firm to earn profits. If he fails to discharge this responsibility then his academic knowledge, experience, expertise and business skill will be of no use to the firm. Image Source : retoolingcapitalism.com 2. Successful forecasts: It is necessary for the managerial economist…
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26Nov 2018 by admin

7 Important Scopes of Managerial Economics

Accounting
Important scopes of managerial economics are given below:1. Demand analysis and forecasting.2. Cost and production analysis. ADVERTISEMENTS: 3. Pricing decisions, policies and practice.4. Profit management.5. Capital management.6. Analysis of business environment. ADVERTISEMENTS: 7. Allied disciplines.Now we discuss these in detail: 1. Demand analysis: A business firm is an economic organization which is engaged in transforming productive resources into goods that are to be sold in the market. ADVERTISEMENTS: A major part of managerial decision-making depends on accurate estimates of demand. A forecast of future sales serves as a guide to management for preparing production schedules and employing resources.It will help management to maintain or strengthen its market position and profit-base. Demand analysis also identifies a number of other factors influencing the demand for a product. Demand analysis and forecasting occupies…
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26Nov 2018 by admin

9 Main Differences between Managerial Economics and Traditional Economics

Accounting
Managerial Economics has been described as economics applied to decision-making. It may be viewed as a special branch of Economics. However, the main points of differences are the following:1. The traditional Economics has both micro and macro aspects whereas Managerial Economics is essentially micro in character. ADVERTISEMENTS: 2. Economics is both positive and normative science but the Managerial Economics is essentially normative in nature.3. Economics deals mainly with the theoretical aspect only whereas Managerial Economics deals with the practical aspect. Image Source : c2.staticflickr.com4. Managerial Economics studies the activities of an individual firm or unit. Its analysis of problems is micro in nature, whereas Economics analyzes problems both from micro and macro point of views.5. Economics studies human behaviour on the basis of certain assumptions but these assumptions sometimes do…
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25Nov 2018 by admin

3 Types of Factors that Influence the Cost of Production

Decision Making
Types of factors which influence the cost of production are as follows:An entrepreneur has to take some very important decisions before setting up a new venture. These decisions have close bearing on the cost of production of the product in the long run.He has to decide the site of the works, the nature of production, scope and size of the market that will be served and the size of the plant. ADVERTISEMENTS: All these decisions are of such nature that once taken cannot be altered time and again. All these decisions affect the cost of production in the long run.The entrepreneur, therefore, should study the various forces (factors) which may affect the cost behaviour in the long run.Generally there are three types of factors which influence the cost of production…
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25Nov 2018 by admin

Price Determination under Monopolistic Competition – Explained!

Industry
Each firm under imperfect competition or monopolistic competition produces different commodities which are close substitutes.This makes the output and price policies of an individual firm’s product partially dependent on the output and price policies of its rivals.In other words, the average revenue curve and the average cost curve of each firm will be partially affected by the price and output policies of its rivals. ADVERTISEMENTS: Since each firm can also increase or decrease the price of its commodity by its own action, the average revenue curve of each firm slopes downwards.It should be remembered that under perfect competition the average revenue curve of each firm is a horizontal straight line. It is so because no firm by its individual action increases or decreases the price of its commodity.Further in the…
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25Nov 2018 by admin

How to Determine Price under Oligopoly Market? – Explained!

Industry
There is no definite theory of price-output determination under oligopoly. The reason being that there is interdependence in the decision-behaviour of oligopolistic firms and the uncertainty about the reaction patterns of rival firms.The demand curve of each firm is uncertain. Due to interdependence in the behaviour of firms and uncertain reaction patterns, there can be a variety of behaviour patterns.Different economists have made different assumptions about the aims of oligopolist firms and they assumed different behaviour patterns of firms accordingly. ADVERTISEMENTS: Different behaviour patterns may be-(i) rivals may decide to co-operate in the pursuit of their objectives, (ii) they may fight each other to increase their market shares, and (iii) agreements may be of wide variety.Therefore, a large variety of models about price-output determination under oligopoly have been developed by…
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25Nov 2018 by admin

1636 words essay on Drought and Flood in India (Free to read)

Management
Free sample essay on Drought and Flood in India. The rainfall in India varies from place to place and year to year. The north-eastern states of Assam, Arunachal Pradesh, Meghalaya, and Nagaland, etc. receive very heavy rainfall.The Indian sub-continent has a distinct geographical and historical identity. Its territories extend 3,214 kilometers between the extremes of the north and the south, and 2,933 kilometers between those of the east and the west. This vast landmass called India has been a playground of the monsoon from times immemorial. Monsoon is the seasonal wind of the Indian Ocean. By the end of the month of May, a low pressure is formed in the coastal plains in the west of India which attracts the monsoon winds and then there are occasional rains. In early…
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25Nov 2018 by admin

1429 words essay on the importance of Human Rights

Strategy
Free sample essay on the importance of Human Rights. Human right to live and exist, the right to equality, including equality before law, non-discrimination on grounds of religion, race, caste, sex or place of birth, and equality of opportunity in matters of employment, the right to freedom of speech and expression, assembly, association, movement, residence, the right to practice any profession or occupation, the right against exploitation, prohibiting all forms of forced labour, child labour and trafficking in human beings, the right to freedom of conscience, practice and propagation of religion and the right to legal remedies for enforcement of the above are basic human rights. These rights and freedoms are the very foundations of democracy.Obviously, in a democracy the maximum number of the freedoms and the rights are enjoyed…
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25Nov 2018 by admin

Top 5 Important Theories of Wages – Explained!

Management
Important theories of wages in compensation management are mentioned below: Theories of Wages 1. Subsistence Theory: This theory was propounded by David Ricardo. Ricardo states that “The labourers are paid to enable them to subsist and perpetuate the race without increase or diminution”.This theory is also known as “Iron Law of Wages”. According to this theory, if the wages fall below the subsistence level, the number of workers would decrease as many of them would die of hunger, disease, malnutrition. Image Source: ecx.images-amazon.com ADVERTISEMENTS: This would make the wage rates go up as labour will become scarce. However, if the workers are paid more than the subsistence wages, they would marry and procreate. This would increase their number and bring down the rate of wages. 2. Wage Fund Theory: This…
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