Statistics for Management and Economics
Added on 2020-06-03
17 Pages1890 Words72 Views
ECONOMIC
Table of ContentsINTRODUCTION...........................................................................................................................1PART 1............................................................................................................................................1EXERCISE 1...............................................................................................................................1EXERCISE 2...............................................................................................................................1EXERCISE 3...............................................................................................................................1PART 2............................................................................................................................................7EXERCISE 1...............................................................................................................................7EXERCISE 2...............................................................................................................................7EXERCISE 3...............................................................................................................................9PART 3..........................................................................................................................................10EXERCISE 1.............................................................................................................................10EXERCISE 2.............................................................................................................................10EXERCISE 3.............................................................................................................................11PART 4..........................................................................................................................................11EXERCISE 1.............................................................................................................................11EXERCISE 2.............................................................................................................................13CONCLUSION..............................................................................................................................14
INTRODUCTIONEconomics is the management of work cost and profits or gains made over the product. Itincludes various technologies that have been made to maintain the demand and supply in themarket. In the presents report, there will be various cases and strategies made by severalgovernment fro different nations as to control the demand. Different manufacturer has also madestrategies as to expand the work potential and reduce labour hours.PART 1EXERCISE 11.Defining meaning of quote and private property:The quote addresses debate over excise bill imposed by Lord Bute as Prime minister inyear 1763. it describes that no body can enter into a property without any legal rights like ownerhave. As in private property legal right and authority is only for owner and possessor of suchasset. Applied over local peopleFor assessment over domestic place it has been identified here people has ownership overtheir property and they have rights to make changes in it. There is no rights for externalindividuals who do not have rights and authority to make any changes or enter into property.EXERCISE 2Formation of a firm based on a leader and his employees, where leader gives a vision andin respect to that employees make efforts. For instance, pirate ships works as same because theydiscover routes and robe other ships as well as recruit robbers for robbery. Pirates haveresponsibility of their live, they are optimistic, they have magnetic personality. They hasencouraged towards their jobs as well as they work enthusiastic and independently. Braveness intaking any bold decisions are also the features of employees in a firm.EXERCISE 3a. technology (a&b)1
b. dominant:Technology B is dominating because of use of machinery in-spite of using men forassembling parts of cars is prompt and there is swiftness in producing a single car within lesstime utilisation.c. isocost:2
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