# Tag - short

## Write short note on a factor affecting productivity. Or What are the factors affecting productivity Discuss.

Ans. There are two types of factors which affect the productivity - (i) Factors Affecting National Productivity - (a) Human Resources- In national productivity, the general level of education is an important factor. The use of computers and other sophisticated equipment and systems need~ better educated [...]

## Write short note on human resource management.

Ans. Human Resource Management - Human resource management determines how the organization should move from its current manpower position to its desired manpower position through planning management strikes to have the right number and the right kind of people at the right places, at [...]

## Write short note on batch or quantity production.

Ans. Batch production is the manufacture of a number of identical articles either to meet a specific order or to satisfy continuous demand. When production of the batch is terminated, the plant and equipment are available for the production of similar or other products. [...]

## Write short note on Cobb-Douglas production function.

Ans . in Cobb-Douglas production function, there are two inputs, capital and labour. Cobb-Douglas production function is given by the following mathematical form Q = Here, Q is the output, L is the quantity of labour employed, K is the· quantity of capital employed and A, [...]

## Difference between a short period and long period production functions.

Ans. Difference between a Short Period and Long· Period Production Function - Short period is the period during which at least one of the factors of production is available in a fixed quantity. Thus, during such a period, production could be increased or decreased [...]

## Write short note on ‘isoquants’.

Ans. An isoquant is defined as the locus of all those combinations of labour and capital which yield the same output. As an example, a cobbler having the minimum tools would hardly be able to complete one pair of shoes in a day while [...]

## Write short note on average cost and marginal cost.

Ans. Average cost is the cost per unit of product, assuming that the production of each unit incurs the same cost. It is obtained by dividing the total cost of production by the total number of products produced. Marginal cost is the additional cost [...]

## Write short notes on short run cost and long run cost.

Ans. Short-run Costs - Short-run costs are costs that vary with output when fixed plant and capital equipment remain the same. Short-run costs become relevant when a firm has to decide whether or not to produce more in the immediate future. In this case, [...]

## Write short notes on replacement cost and historical cost.

Ans. Replacement Cost - Replacement cost is the cost that would have to be paid currently for purchasing the new plant to replace the old one. As an example, let us say that a plant had cost the firm Rs. 5 lakhs ten years [...]

## Write short notes on incremental cost and sunk cost.

Ans. Incremental Cost - Incremental costs are the additions to costs resulting from a change in the nature and level of business activity e.g., change in product line or output level, adding or replacing a machine, changing distribution channels etc. Incremental costs are also [...]

## Write short note on ‘micro’ and macro-economics’

Ans. Micro-economics - The term 'micro' means small. Therefore, micro-economics deals with the economic actions of individuals and groups of individuals and firms. This can be stated in another way that microeconomics presents the economic microscopic view of the company. In the words of K.E. [...]

## Write short note on decision-making under risk. Or Discuss decision making under risk.

Ans. 'Decision-making under risk' refers to situations where there are a number of states of nature and the manager knows the probability of occurrence for each of these states of nature (based upon past experience, etc.). It describes a situation in which each strategy [...]