GDP or GNP, Which one is a better approach? Determining whether Gross Domestic Product (GDP) or Gross National Product (GNP) is a “better” concept depends on the specific analytical and policy goals. Each measure provides different insights into a country’s economic performance, and the choice of which to use may depend on the context and …
Quick Revision notes for B.Com | BBA| BBM | BMS | BHM | MBA | MHA | MMS | CA| CS | CMA | ICWA & Others Aggregate Demand and Aggregate Supply Aggregate demand and aggregate supply are key concepts in macroeconomics that help explain the overall performance of an economy. These concepts are used …
Define the term “Elasticity of demand.” Discuss different types of elasticity of demand. Also, explain why this concept should be of interest to anyone in business who has a choice to determine the price at which to sell their products. The Elasticity of Demand: Understanding Price Sensitivity in Business Introduction: Elasticity of demand is a …
“The root of the economic problem is the scarcity of resources while our wants are infinite”. Elaborate the given statement explaining the three types of economic problems faced by an economy in achieving in production and distribution. The Scarcity of Resources and Infinite Wants: Unraveling Economic Problems The statement “The root of the economic problem …
“Demand forecasting plays a vital role and enables organizations to arrange for the required input as per the predicted demand, without any wastage of material and time” Substantiate your view on demand forecasting and discuss the various factors influencing demand forecasting. The Significance of Demand Forecasting in Organizational Planning Introduction: Demand forecasting is a pivotal …
Q1. “Demand forecasting plays a vital role and enables organisations to arrange for the required input as per the predicted demand, without any wastage of material and time” Substantiate your view on demand forecasting and discuss the various factors influencing demand forecasting. (10 Marks) Demand forecasting is a critical process for organizations across various industries, …
Economics Question and Answers for NMIMS Assignments of December 2023 Read More »
“Corporate value addition” and “Economic Value Added (EVA)” are concepts that focus on measuring the value created by a company’s operations and financial decisions. Let us delve into each of these concepts: Corporate Value Addition: Corporate value addition refers to the enhancement of a company’s overall value through various strategies, actions, and decisions. It encompasses …
Corporate value addition and Economic Value Addition Read More »
Students are requested to use the NMIMS Books for writing the assignment ; just use your own language.
The MCQs on economics are collected and prepared for students appearing for various types of exams like Bcom, Mcom, BBA , MBA, CA , CS, CMA etc. Economics is a compulsory subjects and hence the basic idea of economics is required for every students.
3. a. Suppose the monthly income of an individual increases from Rs 20,000 to Rs 25,000 which increases his demand for clothes from 40 units to 60 units. Calculate the income elasticity of demand. (5 Marks) 3. b. Assume that a business firm sells a product at the price of Rs 500. The firm has …
