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Last Revised – Sunday, July 3, 2016What is Poverty? According to the United Nations definition, Poverty is a deprivation of options and prospects and is a breach of social self-respect that is the right of all human beings. Poverty and deprivation result in the inconsistency in society as the poor are unable to play a […]
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Last Revised – Sunday, July 3, 2016What is Collusion? Collusion is when two or more firms conspire and act together in order to restrict the competition. Oligopolies are driven by the goals of profit and there is mutual interdependence among the firms. So, some firms are tempted to collude and decide on a joint action […]
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Last Revised – Sunday, July 3, 2016What is the Standard Theory of the Firm? The Standard Theory of the Firm belongs to the neoclassical economics. The Standard Theory of the Firm holds that firms exist and the goal of the firm is profit maximisation. The firms examine the market to determine the price of their […]
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Last Revised – Sunday, July 3, 2016Alternative Objectives According to the standard theory of the firm the maximisation of their profit in the long as well as the short-term is the main objective of the firm. However the decisions regarding this also assume that the goal of profit maximisation is the singular goal of the […]
Continue ReadingStrategic Behaviour of Oligopoly in Theory and in Practice
Last Revised – Sunday, July 3, 2016What is Strategic Behaviour of Oligopoly? Strategic Behaviour is the conduct that ensues when what is best for one entity is determined by upon what another does, and what is best for second is subject to what the first entity does. So a firm’s decisions can in turn can […]
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Last Revised – Sunday, July 3, 2016What is Markup Pricing Theory? Markup Pricing Theory is a post Keynesian theory that derives the price that the manufacturer sets for his product. The Markup Pricing Theory can be stated in simple terms as the Price (P) is the sum of the average profit per unit sold and […]
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Last Revised – Sunday, July 3, 2016Local and Global Pollution Problems is an important subject for a future economist and decision maker and also one of the coursework writing topics set for students of Economics and Marketing. Here is a short sample of the topic. If you need a full assignment writing on this or […]
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Last Revised – Sunday, July 3, 2016Income Distribution: a Definition Income Distribution is a statistical measure that shows in what way the total Gross Domestic Product (GDP) of a country is dispersed among its residents. It should be noted that the word ‘distribution’ in Income Distribution is used in the statistical sense and not as […]
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