Business

Concept of Cross Elasticity of Demand Cross elasticity of demand is the relation between the percentage change in demand for a commodity to the percentage…

Concept of Cardinal Utility Analysis Cardinal Utility is the idea that economic welfare can be directly observable and given a value. Cardinal utility analysis is…

Determinants of Elasticity of Demand A good with more close substitutes will likely have a higher elasticity. The higher the percentage of a consumer’s income…

Concept of Total Utility Total utility refers to the utility derived out of the consumption of a commodity. The total satisfaction received from the consumption…

Concept of Marginal Utility Utility is an idea that people get a certain level of satisfaction / happiness / utility from consuming goods and service.…

Assumptions, Exceptions and Importance of the Law of Diminishing Marginal Utility This law was first developed by a German economist Hermann Heinrich Gossen. This law…

Concept of the Law of Diminishing Marginal Utility The marginal utility of a commodity diminishes at the consumer gets larger quantities of it. Marginal utility…

Annual Performance Appraisal System Performance appraisal is the systematic evaluation of employees with respect to their performance on their job and their potential for development.…

Safety policy for Manager A safety policy or health and safety policy of an organization is a recognized written statement that states an organization’s commitment…

Safety  Management Concepts Safety management is commonly understood as applying a set of principles, framework, processes and measures to prevent accidents, injuries and other adverse…

Importance of Consumer’s Surplus Consumer surplus is an extra amount which we feel as surplus of satisfaction. We as consumers give importance to this concept…

Categories of Risks in Investment Shortly speaking risk is the variability of return from an investment. Returns on investment may vary from the expectation of…