DERIVATION OF THE SLOPES OF AN INDIFFERENCE CURVE AND A BUDGET CONSTRAINT
Consider one indifference curve. Let the individual consume a small additional amount of x. The effect of this on total utility is given by the…
DERIVATION OF THE SLOPES OF AN INDIFFERENCE CURVE AND A BUDGET CONSTRAINT
Price changes and an individual’s demand curve
We now demonstrate that if a good rises in price, the quantity demanded of it is likely to fall. A geometric analysis of maximising utility…
The substitution and income effects of a price change
Although a consumer’s demand curve for any good x is likely to be downward sloping we cannot be certain of this because of the presence…
From individual demands to the market demand for a good
To this point , our focus has rested entirely on the individual consumer. For economic and business analysis, though, it is market demand that matters….
Macro Environment
The macro environment consists of the societal forces that affect all the sectors in the company’s macro environment namely, the demographic, economic, natural, technological, political…
MicroEnvironment:
The microenvironment consists of the actors in the company’s immediate environment that affects the performance of the company. These include the suppliers, marketing intermediaries, competitors,…
Internal Environment
The important internal factors which have a bearing on an organisation include: Value system: The value system of the founders and those at the helm…
Main components of business environment
Generally Business refers to those activities that are related to the buying and selling of goods. Business Environment consists of all those factors that have…
Social responsibility of business
As business operates in society, it can’t exist and grows unless it cares for society. It exist vis-à-vis with society. It is required to meet…
Essential Qualities of Good Business Report
A well written business report can help avoid semantic and perception barriers. A well written business report eliminates the possibility of misunderstanding and misinterpretation. In…