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Why do most firms employ a combination of departmentalization bases?
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Firms will employ an input up to the point where?
The input's price equals its marginal revenue product
When relationship between the wage and the quantity of labor that all firms are willing to employ is called?
the individual labor supply
Why is demand for labor curve downward sloping?
I believe in economics we assume that firms are rational and because of this a rational firm would not employ additional labor if it caused a decline in the total output of the firm.
How the circular flow model works?
house holds work and spend firms - provide goods and employ also some spply other firms government - provide goods and services but transfer payments eg taxes and pensions Banks - take savings and lend for spendings - Interconnected economy - Money is Vital - Banks and government allow complex economy MO!!
What are the financial problems facing small scale enterprise development in rural areas?
There are 4.8 million small businesses in the UK (up from 4 million in 2003)3.6 million businesses are sole proprietors1.3 million are companies of which 747,000 have employees444,000 are partnerships97 per cent of firms employ less than 20 people95 per cent employ less than 5 peopleOver 500,000 people start up their own business every yearSmall and medium-sized firms employ more than 59.8 per cent of the private sector workforce22.8 million people work in small and medium-sized firmsSmall firms contribute more than 49 per cent of the UK turnover64 per cent of commercial innovations come from small firmsWholesale, Retail and Repairs was the biggest employer at the start of 2009The 563,000 enterprises in this sector employed 4,853,000 people (21.3 per cent of all UK private sector employment)Small firms collect and pay Tax, NICs, VAT and other dues which help pay for public servicesAround 1,580,000 of all UK enterprises are in London and the South-East
How many percent of all US firms employ 100 or fewer workers?
25%
Firms will employ an input up to the point where?
The input's price equals its marginal revenue product
When relationship between the wage and the quantity of labor that all firms are willing to employ is called?
the individual labor supply
What happens when wages are set above the equilibrium level by law?
Firms employ fewer workers than they would at the equilibrium wage.
Who is Edward Jones and why is he significant?
Edward Jones was an investment banker. He started a chain of investment firms that offer many products from 401k to insurance. These firms also employ many people and created jobs for many people.
How many are employed in the wrecking and demolition industry?
roughly 1,000 firms operate in this industry. These companies employ nearly 19,000 workers and secure more than $3.5 billion in sales. Many of these firms are small, family-owned companies
Where do most of the people in the securities field work?
brokerage firms employ the majority of the workers in this industry. Headquarters for these firms are located in New York City, where most of the executives and support personnel work. Mutual fund management companies and regional brokerages
What are the biggest CPA firms in the US now?
Deloitte, Ernst & Young, PriceWaterhouseCoopers and KPMG are together known as the "Big 4" accounting firms. Together, they employ nearly half a million people worldwide and have a combined revenue of over $100 billion annually.
What does a commercial law firm actually do?
Commercial law firms represent the legal obligations of it's clients. Some firms may specialize in a part of the law fore example tax law, others will employ multiple lawyers to practice in all areas of the law.
Why is cost an important factor in market economies?
the least-cost production method will have to be used. If any other method were used, firms would be sacrificing potential profit. Any firm that fails to employ the least-cost technique will find that other firms can undercut its price.
What is acquisitive intrapreneurship?
The companies here look out for individual with intrepreneurship in other firms; employ them to benefit from their creativity. They can acquire them through mergers, takeovers, join ventures, and buy-outs
Why is demand for labor curve downward sloping?
I believe in economics we assume that firms are rational and because of this a rational firm would not employ additional labor if it caused a decline in the total output of the firm.
