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Scalability is the property of a system to handle a growing amount of work. One definition for software systems specifies that this may be done by adding resources to the system. [1] In an economic context, a scalable business model implies that a company can increase sales given increased resources. For example, a package delivery system is ...
Managerial economics aims to provide the tools and techniques to make informed decisions to maximize the profits and minimize the losses of a firm. [4] Managerial economics has use in many different business applications, although the most common focus areas are related to the risk, pricing, production and capital decisions a manager makes. [31]
Economies of scale is related to and can easily be confused with the theoretical economic notion of returns to scale. Where economies of scale refer to a firm's costs, returns to scale describe the relationship between inputs and outputs in a long-run (all inputs variable) production function.
Organizational economics is primarily concerned with the obstacles to coordination of activities inside and between organizations (firms, alliances, institutions, and market as a whole). Organizational economics is known for its contribution to and its use of:
External economies of scale result from an increase in the productivity of an entire industry, region, or economy due to factors outside of an individual company. There are three sources of external economies of scale: input sharing, labor market pooling, and knowledge spillovers (Marshall, 1920). [1]
In mainstream microeconomics, the returns to scale faced by a firm are purely technologically imposed and are not influenced by economic decisions or by market conditions (i.e., conclusions about returns to scale are derived from the specific mathematical structure of the production function in isolation). As production scales up, companies can ...
Public economics examines the design of government tax and expenditure policies and economic effects of these policies (e.g., social insurance programs). Urban economics , which examines the challenges faced by cities, such as sprawl, air and water pollution, traffic congestion, and poverty, draws on the fields of urban geography and sociology.
Many universities offer courses in business economics and offer a range of interpretations as to the meaning of the word. [8] The Bachelor of Business Economics (BBE) Program at University of Delhi is designed to meet the growing need for an analytical and quantitative approach to problem solving in the changing corporate world by the application of the latest techniques evolved in the fields ...