This essay provides a note on managerial economics:- 1. Introduction to Managerial Economics 2. Principles of Managerial Economics 3. Techniques. Essay # Introduction to Managerial Economics: Business Management and Economics have always been closely related; in fact, most schools of business have their origins in departments of economics. Yet, the viewpoints of the economist and the manager have, until recently, [...]
After reading this article you will learn about the principles and forms of taxation. Principles of Taxation: Taxation is required to cover Government expenditures such as cost of: (i) Administration, (ii) Defence from external aggression, (iii) Police for the maintenance of law and order, (iv) Judicial courts for administration of justice, (v) Schools and colleges for giving education to people, [...]
This article throws light upon the four main theories of wages. The theories are:- 1. Subsistence Theory. 2. Wage Fund Theory. 3. Marginal Productivity Theory. 4. The Bargaining Theory of wages. 1. Subsistence Theory: It states that wages tend to keep to a level that will provide the workers only with bare subsistence. If wages for a time rise above [...]