25Nov 2018 by admin

The Main Elements of the Indifference Curves Analysis of Consumer Behaviour

Budget
Main elements of the indifference curves analysis of consumer behaviour are given below:Prof. J.R. Hicks developed the ‘indifference curves technique for explain consumer behaviour as an alternative to ‘Utility Analysis’. This technique is based on ordinal measurement of utility.An indifference curve is a locus of points, each representing a different combination of two goods, which yield the same level of satisfaction to the consumer. ADVERTISEMENTS: According to Prof. Left witch, “A single indifference curve shows the different combination of X and Y goods that yield equal satisfaction to the consumer.”Indifference curves slope negatively and are convex to the origin. Higher indifference curves represent higher level of satisfaction.Indifference curve technique is based on preference hypothesis. It assumes that the consumer is rational and consistent in his choice of basket of goods.Rationality…
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25Nov 2018 by admin

5 Important Applications of Indifference Curves – Explained!

Budget
The technique of indifference curves has assumed special significance because of its application in almost every sphere of economic activity. A few such applications can be mentioned as follows: Applications 1. In the theory of production: The basic aim of a producer is to attain a low cost combination. Indifference curves are useful in the realization of this objective.When we use these curves in the theory of production, they are called iso-product curves. Producer’s equilibrium i.e. low cost combination is obtained at the point where producer’s budget line becomes tangent to one of the iso-product curves on the map. Image Source : st.motortrend.com 2. In the theory of Exchange: Prof. Edge worth used the technique of indifference curves to show the mutual gains from the exchange of two goods between…
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25Nov 2018 by admin

1141 words essay on the Aim of Education (Free to read)

Investment
Free sample essay on the Aim of Education (Free to read). The main aim of education is the all-round development of a student. Its purpose is to develop a student into a full, whole and integrated person.The main aim of education is the all-round development of a student. Its purpose is to develop a student into a full, whole and integrated person. Thus, the objectives to be achieved through education and training are many and comprehensive. Education helps in achieving and developing skills, abilities, insights and scientific temper. Besides literary and aesthetic appeal of education, there are utilitarian aspects as well and they are equally important. Education aims at developing and bringing out the best of a student’s inner personality, without neglecting the outer and material aspects. Education also means…
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25Nov 2018 by admin

1491 words essay on India in the 21st Century

Housing
Free sample essay on India in the 21st Century. We have stepped into a new century. Talking about the future is always exciting. Man wants to peep into the future to find out what is in store for him and his fellow beings.Man’s curiosity to know about the future and the shape of things and events to come has given rise to such subjects as astronomy, astrology, and palmistry, etc., which try to predict the events to come.Now, what would be the future of India in the coming years of this century? Can we project and predict the future of India as a nation with some certainty and precision? Are we in a position to predict the conditions that are likely to prevail in future? How would the country look…
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24Nov 2018 by admin

21 Acts of Indiscipline That Your Employees May Create Within Your Organisation

Trade
Every act of indiscipline is called misconduct. It is very difficult to prepare an exhaustive list of all such acts:1. Disobedience or willful insubordination.2. Theft, fraud or dishonesty in connection with employer’s goods or property. ADVERTISEMENTS: 3. Willful damage or loss of employer’s goods or property.4. Taking or giving any bribes or illegal gratification.5. Habitual absence without leave or unauthorised absence for more than a certain number of days.6. Habitual late attendance. ADVERTISEMENTS: 7. Habitual breach of any law applicable to the establishment.8. Riotous or disorderly behaviour during working hours at the establishment or any act subversive of discipline.9. Habitual negligence or neglect of work or frequent repetition of any act or omission for which fine may be imposed.10. Striking work or inciting others to strike in contravention of any…
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24Nov 2018 by admin

Essay on Political Science – Meaning, Definition and Nature

Trade
Plato (427-347 B.C.) and Aristotle (384-322 B.C.) were the two early Greek political philosophers who made far-reaching and lasting contribution in the field of political science. In his famous book, ‘the Republic’, Plato justified moral significance of the State, its organic unity, educational functions and above all its supremacy over the individuals. Aristotle is said to be the intellectual child of Plato and in his famous book, ‘the Polities’, he first developed a systematic study of political science as an independent academic discipline. In fact, Plato’s ‘Academy’ and Aristotle’s “Lyceum” were the schools which aimed at preparing the future administrators, constitutional experts and rulers of the Hellenic City States. Aristotle is regarded as “the father of Political Science”, because of his far-reaching and permanent contribution in the field of political…
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24Nov 2018 by admin

7 Key Components of an International Compensation Programme

Currency
Key components of an international compensation programme are as follows:The major focus of most international compensation programme is to keep international employees at a sufficient financial level during their international assignments so that they do not lose ground economically. Image Source: middlemarketcenter.org ADVERTISEMENTS: Components of an international compensation package, in addition to the normal salary and benefits offered in the home country, frequently include the following. These components are discussed below: Components 1. Base salary: For expatriates, the term base salary means the primary component of a package of allowances which are:(a) Foreign service premium,(b) Cost-of-living allowance, ADVERTISEMENTS: (c) Housing and utility allowance,(d) Basis for in-service benefits and pension contributions.Base salary may be paid in home or local currency or in some hard currency like pound or dollar. 2. Foreign…
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24Nov 2018 by admin

17 main reasons given for the issue of bonus shares

Investment
Usually, the following reasons are given for the issue of Bonus Shares: (1) When the company has sufficient reserves, which it does not need in future, it issues Bonus Shares. ADVERTISEMENTS: (2) When there is a big gap between the paid-up capital and the capital actually employed in the business of account of huge reserves, it is thought proper to issue Bonus Shares and, thus to fill up the gap. (3) Payment of dividend at a high rate is possible if there are excessive divisible profits with the company. This attracts the competitors in the business. Thus, Bonus Shares are issued to reduce the rate of dividend and to regularize it from year to year. Image Source: cdn.publishyourarticles.net (4) A high rate of dividend paid to the shareholders is usually…
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24Nov 2018 by admin

464 Words Essay on India – An Emerging Power

Investment
The Indian economy is the second fastest growing major economy in the world. In terms of Purchasing Power Parity, the Indian economy is the third largest in the world. Its gross domestic product is US $ 3.666 trillion. In 2003, economist at Goldman Sachs had predicted that by the economies of the BRIC (Brazil, Russia India and China) nations would overtake the US and Japan in wealth generation. They would also produce 40% of the world’s GDP If these predictions come true, India will become the world’s largest economies. Some reasons why this will be possible for India, ii an open society, public higher education skilled labor force proficient in English and computers. Considering that India was a colonized country only six decades ago, such a grow only be termed…
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23Nov 2018 by admin

5 Main Causes for Extinction of Species Throughout the World

Trade
In the last 150 years, the rate at which species are disappearing is about thousands per decade; while natural extinction rate is only one or two species per decade. Some of the main causes are as follows: (i) Loss/degradation of Habitat: A habitat is place where living beings find food, cloth and shelter and a safe place to reproduce and bring up their offspring. Thus, loss of habitat is the greatest threat to the world. Image Source: 185.26.182.219 (ii) Overexploitation of Resources: A number of species like tigers, giant pandas etc. are on the verge of extinction because of overexploitation of resources. (iii) Pollution: ADVERTISEMENTS: Pollution is responsible for global climatic changes and for the extinction of most of the species. (iv) Extinction of weaker species due to aggressive non-native…
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