Planning and Decision Making
Planning Concept of Planning Planning is the process of setting goals, identifying tasks, and determining the resources needed to achieve those goals. It is a systematic approach to problem-solving that...
Monthly Archive: March 2023
Classical Theories of Management
Introduction to the Principles of Management The principles of management are a set of guidelines or rules that guide the decision-making and actions of managers in an organization. These principles...
Nature of Management
Meaning of Management Management can be defined as the process of coordinating and overseeing resources (human, financial, material, and informational) in order to achieve organizational goals and objectives. This involves...
Measurement of Price elasticity of Demand
The Outlay Method The Total Outlay Method is a way of measuring the Price Elasticity of Demand (PED) by examining the effect of a change in price on the total...
Cross-Price Elasticity of Demand
Cross-Price Elasticity of Demand (XED) is a measure of the responsiveness of the quantity demanded of one good or service to changes in the price of another good or service....
Income Elasticity of Demand
Income Elasticity of Demand (YED) is a measure of the responsiveness of the quantity demanded of a good or service to changes in consumer income. It is calculated as the...
Price Elasticity of Demand
Price Elasticity of Demand (PED) is a measure of the responsiveness of quantity demanded to changes in the price of a good or service. It is calculated as the percentage...
Concept of Elasticity of Demand
Concept of Elasticity of Demand Elasticity of Demand is a measure of the responsiveness of quantity demanded to changes in price. It is an important concept in economics as it...