Month: June 2022

To survive or prosper in the global business environment, a firm must be skilful in how it applies its strategies to compete globally. Although global competitive strategies are imperative for firms operating in multiple countries, the solely domestic firm must Read More …

5.1 Perfect Markets Perfect market is a market with many buyers and sellers where nobody can determine the price of goods or services. Characteristics Large number of buyer and sells where each individual firm supplies part of total quality supplied. Read More …

Definition Production comprises all activities that provide goods and services which people want and for which they are prepared to pay a price. The composition of the total output can be classified into consumer goods and produce goods and services. Read More …

Introduction It touches on satisfaction other than a customer desire from consuming a particular commodity’s. The satisfaction the consumers derives from consumption of commodity is called utility. Average utility is the satisfactory per unit consumed on average. Marginal utility is Read More …

Purpose The theory of demand and supply enables us to understand the determination of prices and quantities in different markets. For example, why the prices of agricultural commodities such as tomatoes, apples, mangoes and cabbages increase and decrease at certain Read More …

Economics essentially studies the way in which mankind provides for the material well being. It’s thus concerned with the way people apply their knowledge, skills and effort to the gift of nature in order to satisfy human their material wants. Read More …

This focuses on effectiveness or performance of the organization as a whole. Effectiveness or performance of an organization as a whole may depend on various factors e.g. role in social responsibility, corporate image, and business portfolio. Business portfolio i.e. the Read More …

INTRODUCTION TO ECONOMICS NOTES – Click to view DEMAND AND SUPPLY NOTES – Click to view THEORY OF  CONSUMER NOTES  – Click to view THEORY OF PRODUCTION NOTES – Click to view MARKET STRUCTURE NOTES  – Click to view

TOPIC 11 EMERGING ISSUES AND TRENDS IN LABOUR LAW AND INDUSTRIAL RELATIONS 11.1 Emerging trends and issues Minimum Wages: In countries which have a legal minimum wage three concerns are evident. The first is that minimum wage levels sometimes tend Read More …

TOPIC 10 LAWS RELATING TO REMUNERATION OF WORKERS 10.1 Legal provisions governing employee remuneration (Regulations of wages and conditions of employment act cap 229) Meaning of remuneration – Refers to the amount paid or to be paid to the employee Read More …