Forces Affecting Organization-Environment relationships | Principles Of Management

Forces Affecting Organization-Environment relationships The major forces that affect Organization-Environment relationships are as follows:     Economic Environment : The economic  environment of business is largely determined by the economic system of the country .A number of economic factors such as economic planning and control,national income ,industrial policies,monetary and fiscal policies,investments,savings,inflation,and international economic activities reflect […]

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Microeconomics- Business Decision making

Microeconomics- Business Decision making a)Explain the role of microeconomics in business decision making. Ans) The role of microeconomics in business decision making can be explained as under: 1) Optimal resource utilization: The productive resources are scarce in the economy and microeconomics tells how the productive resources are allocated in the production of various goods and […]

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Elasticity

Very short questions of Elasticity Define elasticity of demand. Ans) The elasticity of demand is the measure of responsiveness of demand for a commodity to the change in any of its determinants like price of the same commodity,price of the related commodity,income of the consumer,etc. What are the types of elasticity of demand? Ans)There are […]

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