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In economics a goal of a firm is?
The goals are: 1) Profit Maximisation 2) Cost minimisation 3) Technological Advancement 4) Return on investment 5) Customer Satisfaction. Bas that's enough......
What is the characteristics of monoplistic competition?
Large number of sellers and buyers in the groupThe products of the sellers are differentiated, yet they are close substitutes of one another.There is free entry and exit of firms in the groupThe goal of the firm is profit maximisation, both in the short run and in the long runThe prices of factors and technology are given
What is a firm's goal when determining how many goods to produce?
to produce enough goods to meet demand while making a profit
Is profit making the primary goal of any business enterprise and why?
Yes, profit making is the primary goal of business. It is the reason businesses exist. If they don't make a profit, they will not survive.
Economists normally assume that the goal of a firm is to?
yh
Analyze two other alternative to profit maximisation as a goal of the firm?
is this in relation to energy markets?
In economics a goal of a firm is?
The goals are: 1) Profit Maximisation 2) Cost minimisation 3) Technological Advancement 4) Return on investment 5) Customer Satisfaction. Bas that's enough......
What are some of the problems involved with the use of profit maximization as the goal of the firm How does the goal of maximization of shareholder wealth deal with those problems?
Problems involved with the use of profit maximization as the goal of the firm due to numbers of reasons. 1 It ignore the timing of return. 2 It ignores the timing of returns. 3 It ignores the risk.
Goal of the firm?
profit maximization &wealth maximization of shareholders.
The differences between goal of a firm and profit maximization?
A goal of firm isn't always profit driven, it can be any cause. Profit maximization is revenue driven, making more money is it focus.
Shareholder wealth maximization is considered to be a more appropriate goal for the firm than profit maximization because?
Shareholder wealth maximization is considered to be a more appropriate goal for the firm than profit maximization
Boumal's static and dynamic models?
Baumol suggested sales revenue maximisation as an alternative goal to profit maximisation. He presented two basic models: A static single–period model and a multi-period dynamic model of growth of sales revenue maximisation. Each model has two versions, one with advertising activities and another without.
What is the characteristics of competition?
Large number of sellers and buyers in the groupThe products of the sellers are differentiated, yet they are close substitutes of one another.There is free entry and exit of firms in the groupThe goal of the firm is profit maximisation, both in the short run and in the long runThe prices of factors and technology are given
What is the characteristics of monoplistic competition?
Large number of sellers and buyers in the groupThe products of the sellers are differentiated, yet they are close substitutes of one another.There is free entry and exit of firms in the groupThe goal of the firm is profit maximisation, both in the short run and in the long runThe prices of factors and technology are given
What are some of the problems involved in the use of profit maximization as the goal of a firm?
Uncertainity and timing are some of the problems
What is a commercial goal?
A goal a firm may have that is not to maximise profit or sales, but a goal to help the community for example fundrasing for a local charity. These goals could also be to help the enviroment.
What is a non commercial goal?
A goal a firm may have that is not to maximise profit or sales, but a goal to help the community for example fundrasing for a local charity. These goals could also be to help the enviroment.
