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22
Jun

The perfectly competitive model Vs the monopolistic model !

A monopolistic model and a perfectly competitive model are economic presentation of two different market structure that can be differentiated on the basis of market share, control over the price and barriers to entry in the market. In a perfectly competitive market model, there are a huge number of firms and no single firm has a proper control over the market (Taylor, Stonebarger & Leven, 2015). Contrary to the perfectly competitive model, a monopolistic market model comprises of only a single firm that decides the price, supply level of goods and has a total control over the market. However, a monopolistic…

22
Jun

Comparing Perfectly competitive model with the monopolistic model!

Market is a place where buyers & sellers meet for some kind of transaction. There are three different types of market structure perfect competition, monopoly and imperfect competition. Perfectly Competitive – In perfect competition the product sold by different firms is identical. It’s a market structure where there are various sellers who offer similar products or services which are manufactured by using a standard method and every firm has details about the market as well as price. The entry and exit to a perfectly competitive market is free and in this situation the competition is at its peak. In this case the firms are…

19
Jun

MGT301A: Ethics and Sustainability

Ethics and Sustainability The ethical dilemma I faced in my workplace was the introduction of a new technology i.e. installation of the self-packaging device which will help in making the packaging process fast, easy and economical. As this new technology is beneficial for the company and clients but if it’s brought into use it will affect the manpower requirement by the company, the employees may get de-motivated because of the idea of losing their job (Curre, 2018). The ethical dilemma I faced here is to keep loyalty towards the employees who have helped the company grow since long and on the…

18
Jun

The concept of elasticity explaining how the economics is the way of life !

            Elasticity is also an important concept that plays a vital role in every day activity. Elasticity as a concept is defined as the extent to which the demand or even the supply of a particular product changes at a given time to the change in price. A product is considered to be highly elastic if its consumers become highly sensitive to the price once it increases or decreases, and the change in price has an immediate impact on the quantity demanded (Imbs and Mejean 2015). For example, when the price of Coca Cola increases, the…

18
Jun

The concept of equity and efficiency explaining how the economics is the way of life !

            Economics is definitely the way of life as it deals with the important concepts of equity and efficiency. While optimum production as well as allocation of resources is important for the advancement of any economy, ensuring that the resources are being equally distributed amongst the all is equally important. By ensuring equity, the government does ensure that it does take steps to reduce the problems of absolute property whereby each individual has some resources to live with. For example, usually the government ensures that the richer who enjoys greater allocation of resources pays a higher…

18
Jun

The concept of demand and supply explaining how the economics is the way of life !

Economics is definitely the way of life as it helps in ensuring the proper allocation of resources and ensures that these resources do not become scarce in the face of heavy demand. The concept of demand and supply have always been found to be extremely integral to any sort of economic activity performed daily by humans. According to the law of demand, there exists an inverse relation between the price of a product and the quantity demanded. In other words, if the price of a good is higher, the demand for the good will naturally decrease while if the demand of…

16
Jun

Unfair dismissal provisions under The Fair Work Act 2009 (Cth)

“The Fair Work Act 2009 (Cth) provides all employees with a clear and accessible right to protection from unfair dismissal. The protection it provides give the right balance to the rights of employees and the rights of employers”. Critically discuss. Introduction In the year 2009, the Fair work act was introduced by the Labour government so that they could replace the less popular work choices legislation. The act was divided into two categories, firstly the right of employees and secondly the protection of employees. The fair work act refers to the “moral or legal entitlement to have or do something with…

14
Jun

Financial analysis of Alaris Holdings Limited

Alaris Holdings Limited – Current ratio = Current assets / current liabilities 2017 109424 / 76488 = 2.2 2016 199926 / 90558 = 1.43   The normal acceptance of current ratio is more than 1, which is indicates the capability of meeting the creditor’s obligations with the current assets. However, higher amount of current ratio is not acceptable as it might reflect the fault in working capital management policy of the company (Delen, Kuzey and Uyar, 2013). In this context, Alaris Holdings belongs to communication industry, antenna manufacturer and products related to radio frequency and wideband products. Hence, this company should…

07
Jun

Highlights and In-class Participation

Social class and consumer behaviour    # Consumer buying behaviour is a complex process whereas it is important to determine the purchase pattern. There are marketers and researchers in the field who have a major identification towards the purchasing decision of consumers. Consumer behaviour is mainly influenced while focusing towards several factors and it even includes the social class as one of the core factors. Social class has a major influence and it affects the consumer behaviour. # Consumer buying behaviour has a representation towards a complex picture and in a multi-market brand, the customers have an individual behaviour purchase system…

15
Dec

Issues Prevalent in Various Contexts of Tourism and Hospitality Management

1.0  Introduction This report has been written to discuss the issues prevalent within the various contexts of tourism and hospitality management like operational management, human resource, financial, and the product and marketing concepts. This report can be used as a guide to understand these issues and find out strategies to mitigate them. 2.0  Brief Research and Analysis 2.1 Issues in Operational Context There are various operations within the tourism and hospitality management sector that needs to be managed properly for the overall profit maximization of the company. However, this industry has been facing some issues related to labour shortage and cost…

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