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IGBizStudies
- May 27, 2021
- 2 min
Revenue, cost and profit in income statement
How to calculate and use information on revenue, cost and profits in income statements 1. Revenue - Total sales 2. Cost of sale - Total...
450
IGBizStudies
- May 26, 2021
- 1 min
What are sustainable development practices
Sustainable development practices adopting practices that are environmental friendly and socially responsible. Businesses can adopt...
140
IGBizStudies
- May 25, 2021
- 1 min
What is quality control, quality assurance and total quality management
They are practices that ensures the quality of product. Quality Control Quality control removes defective output at the end of the...
260
IGBizStudies
- May 25, 2021
- 1 min
How to decide on production methods?
Nature of product, size of market, demand needs, productive capacity
200
IGBizStudies
- May 25, 2021
- 2 min
What is economies of scale and diseconomies of scale
Economies of scale happens when a business grow large enough to enable them to lower average cost, while diseconomies of scale happens...
520
IGBizStudies
- May 5, 2021
- 2 min
What influences pricing decisions
The three (3) major factors influencing pricing decisions are cost, supply and demand Cost refers to the cost of production, which...
130
IGBizStudies
- Apr 27, 2021
- 2 min
What is opportunity cost
Opportunity cost happens when we forgo an alternative activity or use of resources to produce goods and services. The benefits from...
290