02Dec 2018 by Reese Bannister

5 Main Reasons for the Emergence of Oligopoly Market

Marketing
Oligopoly is a market structure in which a few sellers supply all or most of the total market output. Now, let us examine why does oligopolistic tendency arise in the market? There are various reasons for the emergence of oligopoly. 1. Huge Capital Investment: Industries like cement, steel, chemicals, petroleum, aircrafts, ship building, etc., are highly capital intensive and require huge capital investment as well as recurring expenses. ADVERTISEMENTS: The cost and time that new firm will have to face make the entry unviable and unattractive.Consequently, only a few big firms continue to operate in the market, who also enjoy the economies of large scale. Few big firms produce enough to meet the entire demand at a lower cost than a large number of firms dividing this total output. Further,…
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02Dec 2018 by Reese Bannister

Useful Notes on the Long Run Equilibrium of Monopolist

Business
The barriers to entry in one form or the other allow the profits of a monopolist to continue even in the long-run. In the long-run, the monopolist has time to expand his plant or to use his existing plant at any level, which will maximise his profits.However, the monopolist need not reach for an optimal scale of plant where the long-run average cost is minimum. With entry blocked, he need not even use his existing plant at an optimal capacity. The size of plant and the extent of utilisation of existing plant of a monopolist depend upon the size of the market demand (i.e., quantity of demand in the market) and long-run average costs. Image Source: crawfordsworld.com ADVERTISEMENTS: Accordingly, he may remain at sub-optimal scale (falling part of his LAC)…
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02Dec 2018 by Reese Bannister

Short Notes on “Monopoly Market Form”

Industry
Monopoly is a market form, which has always attracted the attention of economists. This word has come from the Greek words, monos (single), polein (selling), which mean alone to sell. Therefore, in literary terms, it implies a market structure, where there is a single seller.In economic theory, monopoly is characterised by sole producer selling a distinct product for which there are no close substitutes and there are strong barriers to entry. This sole producer (may be known as monopolist) controls the entire supply of the market.Thus, the supply curve of the firm and the industry will be one and the same. Under these circumstances, the monopolist will tend to have complete control over the price of the product sold by him. That is why, monopolist is a price maker rather…
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02Dec 2018 by Reese Bannister

7 Assumptions or Conditions of Perfect Competition Market

Industry
The following features serve as a necessary set of assumptions or conditions underlying the model of perfect competition: 1. Large Number of Sellers and Buyers: In perfectly competitive market, there are a large number of sellers and buyers in the indus­try. On account of innumerable transactors, each seller produces a very small portion of the total quantity offered in the market and each buyer has an inappreciable portion of the total demand of the market.Thus, no individual seller (or buyer) has any economic or market power to influence the market price in his favour through his own individual behaviour or action. The number of sellers and buyers are so numerous that variations in output by one seller or change in purchase by a single buyer can hardly make any difference…
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02Dec 2018 by Reese Bannister

9 Important Factors That Influence Social Mobility

Professions
Generally the following factors influence social mobility: 1. Economic Prosperity: There are three main groups in the society known as poor, middle and rich. There are various differences in their standard of living. Rich people are respected very much in the society due to their riches.Therefore, every individual in the society is trying his best to earn money and to improve upon his position so as to enter into the category of rich people. Image Source: dustywunderlich.com 2. Structure of Society: ADVERTISEMENTS: Social structure of society influences the social mobility. The societies of the world can be divided into two groups— closed societies and open societies. Closed societies are caste ridden (as in India) and the status of a person is determined by his being born in a particular caste.Therefore,…
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01Dec 2018 by Reese Bannister

Speech on Gender-Based Discrimination in India

Management
Here are you speech on Gender-Based Discrimination in India:It is paradox of our Indian society, that on one side we worship the women Goddesses and on the other we meet out sub-human treatment to the women. In Indian society the position of the women has been always looked as less important than the male person. ADVERTISEMENTS: Since the time of Ramayana and Mahabharata women have always been easy victims of gender-based discrimination.Though after independence, women are becoming more self-reliant but still the problem of aggression against women by powerful continues, only mode of such aggression or discrimination has changed to some extent. Image Source: 185.26.182.219Gender bias is widely prevalent throughout women’s life span. Indian women have become an easy prey for discrimination and aggression based on gender.It is observed that…
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01Dec 2018 by Reese Bannister

Essay on the Concept of Islamic System of Education

Decision Making
Man has the capacity to understand the ideational relation between the two orders of reality. It includes all the functions of memory, imagination, reasoning, observation, intuition, apprehension and so on.The world according to Islam is not the work of chance; it was created in perfect condition. Everything that exists does so in a measure proper to it and fulfils a certain universal purpose. Man has the capacity to know that purpose and ability to work accordingly.Man is capable of modifying the activities of him and his society so as to actualize the divine pattern or commandant in himself as his fellows and environment must all be capable of receiving the efficacious action of man, the subject. Image Source: genheration.com ADVERTISEMENTS: Islam suggests rationalistic activities for man. These include the rejection…
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01Dec 2018 by Reese Bannister

6 Major Differences between Memorandum of Association and Articles of Association

Management
6 Major Differences between Memorandum of Association and Articles of Association are listed below: Memorandum of Association: 1. It is the fundamental document ADVERTISEMENTS: 2. It is the Charter of the company.3. It dictates external and internal affairs of the company. Image Source: 185.26.182.2194. It has effects on the members as well as the outsiders.5. Ratification: No act can be ratified which is done beyond the memorandum: This is called as “Doctrine of Ultra Vires”. 100% members of the company also cannot ratify such ultra virus acts. ADVERTISEMENTS: 6. The memorandum of association is bound to observe.(a) The provisions of the Companies Act,1956;(b) Any other law in force. Articles of Association: ADVERTISEMENTS: 1. It is the subsidiary document.2. These are me regulations of the company.3. It dictates only internal affairs…
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01Dec 2018 by Reese Bannister

Eight important provisions of law under which a non-owner can convey a good title to a buyer

Business
Important provisions of law under which a non-owner can convey a good title to a buyer are as follows:1. An unauthorised sale by a mercantile agent (Sec. 27):A mercantile agent means an agent having in the customary course of business as such agent authority either to sell goods, or to consign goods for the purposes of sale, or to buy goods, or to raise money on the security of goods [Sec. 2(9)]. ADVERTISEMENTS: Thus as a rule a mercantile agent having an authority to sell goods conveys a good title to the buyer. But by virtue of this provision (proviso to Sec. 27) a mercantile agent can convey a good title to the buyer even though he sells goods without having any authority from the principal to do so, provided…
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01Dec 2018 by Reese Bannister

What is the Relationship between Productivity and Quality? – Explained!

Industry
When quality increases, the productivity also improves. This is because wastes and rework are reduced, and inputs are optimally utilized. Higher productivity enables an organization to reduce price and gain competitive advantage both in terms of price and quality. Customers also feel happy as they get value for their money. Since organization’s bottom line improves, it raises the satisfaction level of all stakeholders, including employees.The significance of cost of quality has been discussed, while explaining the ISO certification requirements. Saving the cost of quality will have an immediate effect on the enhanced productivity of an organization. All these establish that quality and productivity are indirectly related.Thus, productivity should not now be misconstrued as labour performance alone. It is the sum total of efficiency and, therefore, linking productivity to wages should…
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