30 August Economic Environment Of Business

ECONOMIC ENVIRONMENT OF BUSINESS AFTERSCHO☺OL – DEVELOPING CHANGE MAKERS CENTRE FOR SOCIAL ENTREPRENEURSHIP PGPSE PROGRAMME – World’ Most Comprehensive programme in social entrepreneurship & spiritual entrepreneurship OPEN FOR ALL FREE FOR ALL

ECONOMIC ENVIRONMENT OF BUSINESS Dr. T.K. Jain. AFTERSCHO☺OL Centre for social entrepreneurship Bikaner M: 9414430763 [email_address] www.afterschool.tk www.afterschoool.tk

During the stage of diminishing returns, the MP and AP are positive or negative?

MP = marginal production

AP = average production

Both these are diminishing, but positive.

During the stage of diminishing returns, the production reaches its maximum or minimum point?

Maximum point

During the 3 rd stage of law of production returns, the MP and AP are positive or negative?

The third stage is the stage of Negative returns, and in this stage MP is negative, but AP is not negative, but constantly diminishing.

Name the stage when AP and MP are equal?

It is the stage when Ist stage completes and IInd stage starts (the mid point of Ist and IInd stage).

We double our production inputs, our output also double, what is the returns to scale?

Constant Returns to scale.

I increase inputs from 100 to 500, but the production increases from 75 to 89, what is returns to scale?

Diminishing returns to scale

In which stage of production would you like to produce? (short run)

IInd stage (when optimum output is there).

Returns to scale are about short run or long run?

Long run

What is economy of scale?

As the production increases, firms enjoy certain economies (fixed costs remain fixed to some extent and they enjoy the benefits).

Can economies become diseconomies?

Yes – after optimum level of production, economies will become diseconomies.

In which stage is the TP highest (short run)?

TP = total production

TP is heighest in the mid of IInd and IIIrd stage.

In production laws, do we consider monetary profitability?

No, we only consider physical inputs and outputs.

Do we assume technology to be constant in long run?

Yes, Technology changes only in very long term.

Which laws will be applicable, when all factors are proportionately changing?

Returns to scale.

Is entrepreneurship also a factor of production?

Yes

Nidhi becomes an entrepreneur, had she worked in a company, she could have earned Rs. 30 Lakhs, will this amount be a part of any cost (accounting, economic or any other)?

It is part of economic cost (not accounting cost – as there is no money outflow).

Prateek becomes an entrepreneur by investing Rs. 50 Lakhs. He could have easily earned Rs. 6 Lakh per annum as interest on this money. Is 6 Lakh his cost?

It is economic loss (not accounting loss).

What is SAC in cost analysis?

Short run Average Cost

What is LAC?

Long run average cost

How many SAC can you have in long run?

Infinite

How many LAC can you have in short run?

None

Are fixed costs function of output?

No (in short run)

What is the relation between cost and output called?

Cost Function

The average product of labour is maximum at which point?

When it is equal to marginal product of labour

What is AFC?

It is average fixed cost.

What is AVC?

Average Variable Cost

ABOUT AFTERSCHO☺OL

Afterschoool conducts three year integrated PGPSE (after class 12 th along with IAS / CA / CS ) and 18 month PGPSE (Post Graduate Programme in Social Entrepreneurship) along with preparation for CS / CFP / CFA /CMA / FRM . This course is also available online also. It also conducts workshops on social entrepreneurship in schools and colleges all over India – start social entrepreneurship club in your institution today with the help from afterschoool and help us in developing society.

Why such a programme?

To promote people to take up entrepreneurship and help develop the society

To enable people to take up franchising and other such options to start a business / social development project

To enable people to take up social development as their mission

To enable people to promote spirituality and positive thinking in the world

Who are our supporters?

Afterschoolians, our past beneficiaries, entrepreneurs and social entrepreneurs are supporting us.

You can also support us – not necessarily by money – but by being promotor of our concept and our ideas.

About AFTERSCHO☺OL PGPSE – the best programme for developing great entrepreneurs

Most flexible, adaptive but rigorous programme

Available in distance learning mode

Case study focused- latest cases

Industry oriented practical curriculum

Designed to make you entrepreneurs – not just an employee

Option to take up part time job – so earn while you learn

The only absolutely free course on internet

Workshops from AFTERSCHO☺OL

IIF, Delhi

CIPS, Jaipur

ICSI Hyderabad Branch

Gyan Vihar, Jaipur

Apex Institute of Management, Jaipur

Aravali Institute of Management, Jodhpur

Xavier Institute of Management, Bhubaneshwar

Pacific Institute, Udaipur

Engineering College, Hyderabad

Flexible Specialisations:

Spiritualising business and society

Rural development and transformation

HRD and Education, Social Development

NGO and voluntary work

Investment analysis,microfinance and inclusion

Retail sector, BPO, KPO

Accounting & Information system (with CA / CS /CMA)

Hospital management and Health care

Hospitality sector and culture and heritage

Other sectors of high growth, high technology and social relevance

Salient features:

The only programme of its kind (in the whole world)

No publicity and low profile course

For those who want to achieve success in life – not just a degree

Flexible – you may stay for a month and continue the rest of the education by distance mode. / you may attend weekend classes

Scholarships for those from poor economic background

Latest and constantly changing curriculum – keeping pace with the time

Placement for those who are interested

Admissions open throughout the year

Latest and most advanced technologies, books and study material

Components

Pedagogy curriculum and approach based on IIM Ahmedabad and ISB Hyderabad (the founder is alumnus from IIMA & ISB Hyderabad)

Meditation, spiritualisation, and self development

Essential softwares for business

Business plan, Research projects

Participation in conferences / seminars

Workshops on leadership, team building etc.

Written submissions of research projects/articles / papers

Interview of entrepreneurs, writing biographies of entrepreneurs

Editing of journals / newsletters

Consultancy / research projects

Assignments, communication skill workshops

Participation in conferences and seminars

Group discussions, mock interviews, self development diaryng

Mind Power Training & writing workshop (by Dr. T.K.Jain)

Pedagogy

Case analysis,

Articles from Harvard Business Review

Quiz, seminars, workshops, games,

Visits to entrepreneurs and industrial visits

Presentations, Latest audio-visuals

Group discussions and group projects

Periodic self assessment

Mentoring and counselling

Study exchange programme (with institutions out of India)

Rural development / Social welfare projects

Branches

AFTERSCHO☺OL will shortly open its branches in important cities in India including Delhi, Kota, Mumbai, Gurgaon and other important cities. Afterschooolians will be responsible for managing and developing these branches – and for promoting social entrepreneurs.

Case Studies

We want to write case studies on social entrepreneurs, first generation entrepreneurs, ethical entrepreneurs. Please help us in this process. Help us to be in touch with entrepreneurs, so that we may develop entrepreneurs.

Basic values at AFTERSCHO☺OL