Economics project business plan

Critical Thinking - Graduates will be able to think critically and determine appropriate actions. Students can define the problem by describing it what is wrong in the present situation and identifying its source. Students can establish criteria for a good solution to the problem. Students can determine appropriate solutions for qualitative and quantitative problems.

Economics project business plan

The reason why the father wished to close down the branch was that it appeared to be making a loss. However, it is quite the reverse; if the branch was closed then, the positive contribution from the branch would be lost and overall profits would fall.

This is because the indirect costs of production do not vary with output and, therefore, closure of a section of the firm would not lead to immediate savings.

economics project business plan

This may mean that closing the branch would be a mistake on financial grounds. This mistake is made due to a misunderstanding of nature of cost behavior.

If the branch is closed then the only costs that would be saved are the costs directly related to the running of the branch: The costs are indirect in nature, in this example the marketing and central administration costs, would still have to be paid as they are unaffected by output.

For this decision to be made, we should use contribution as a guide for deciding whether or not to close a branch. This can also be applied to the production of certain product lines, or the cost effectiveness of departments. On financial grounds, contribution is therefore, a better guide in making decisions.A project plan is a detailed written overview of individual workplace projects.

The plan includes information related to staffing, budgets, . Economics case studies. Covering micro as well as macro economics, some of IBSCDC's case studies require a prior understanding of certain economic concepts, while many case studies can be used to derive the underlying economic concepts.

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A project plan is a detailed written overview of individual workplace projects. The plan includes information related to staffing, budgets, time lines, deadlines, goals and measurements.

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How Economics Survived the Economic Crisis by Robert Skidelsky - Project Syndicate