Successfully reported this slideshow.
Your SlideShare is downloading. ×

Practical-Exercise-Timeline.pptx

Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Loading in …3
×

Check these out next

1 of 3 Ad

Practical-Exercise-Timeline.pptx

Download to read offline

Timeline economicsTime element plays an important role in price determination of a firm. During short period two types of factors are employed. One is fixed factor while others are variable factors of production. Fixed factor of production remains constant while with the increase in production, we can change variable inputs only because time is short in which all the factors cannot be varied.

Raw material, semi-finished material, unskilled labour, energy, etc., are variable inputs which can be changed during short run. Machines, capital, infrastructure, salaries of managers and technical experts are included in fixed inputs. During short period an individual firm can change variable factors of production according to requirements of production while fixed factors of production cannot be changed.

Timeline economicsTime element plays an important role in price determination of a firm. During short period two types of factors are employed. One is fixed factor while others are variable factors of production. Fixed factor of production remains constant while with the increase in production, we can change variable inputs only because time is short in which all the factors cannot be varied.

Raw material, semi-finished material, unskilled labour, energy, etc., are variable inputs which can be changed during short run. Machines, capital, infrastructure, salaries of managers and technical experts are included in fixed inputs. During short period an individual firm can change variable factors of production according to requirements of production while fixed factors of production cannot be changed.

Advertisement
Advertisement

More Related Content

Advertisement

Practical-Exercise-Timeline.pptx

  1. 1. © 365careers, 2015 1 Timeline Equity Contribution 1 June 2015 $3,000 Acquisition of Lemonade Stand 10 June 2015 $1,000 Purchase Raw Materials 12 June 2015 $500
  2. 2. © 365careers, 2015 2 Timeline Equity Contribution 1 June 2015 $3,000 Acquisition of Lemonade Stand 10 June 2015 $1,000 Purchase Raw Materials 12 June 2015 $500 Revenues 26 June 2015 Revenue $1,200 (Cogs $500) Utility Expenses 26 June 2015 $150 Start of Trading
  3. 3. © 365careers, 2015 3 Timeline Revenues 20 August 2015 Revenue $2,700 (Cogs $900) Utility Expenses 20 August 2015 $200 Depreciation $100 Purchase Raw Materials 15 July 2015 $900

×