Definition of External Economies of Scale External economies of scale are not related with the ability, skill, management, education and experience neither these are linked with a specific business. All the businesses enjoy these economies equally. These economies arise as a result of the expansion of …
Definition is Internal Economies of Scale “Internal economies are those economies in production which occur to the firm itself when it expands its output or enlarge its scale of production”. Types of Internal Economies of Scale Folllowing are the types of Internal economies of scale: Administrative …
What is Community We can define community as a larger group of individuals living together for a long time in a locality having common interest, goals, ways of life and norms etc. and meeting out most of their needs from local social institutions. The examples of …
Since the dawn of recorded history we find many scholars and social philosophers who made contributions in this field. Keeping aside the versatile ancient Egyptian, Mesopotamian, Greek, Hindu, Chinese and Persian scholars there were many intellectuals who appeared after tenth century and tried to explain the …
Culture is the man made environment Most of which is transmitted from one generation to the other. Culture is a very wide term which covers the entire activities, ways of thinking, behaving and many other things ranging from very simple to the most complicated learned behavior …
What do you understand by capital? On what does the growth of capital in a country depend. According to Alfred Marshall “Capital consists of those kinds of wealth, other than free gifts nature, which yield income” in the words of Samuelson “Capital goods represent, product goods …
