ECONOMIC NATURALIST

A detailed Summary of ECONOMIC NATURALIST

WHY COMPANY GIVES OUT COMPLIMENTARY CALENDARS?

We always associate the month of December with flood season especially in Kelantan & Terengganu. December also normally become a vacation period for most of Malaysians as this time of the year coincide with school holiday and people are finishing off their annual leaves to be with their family. You might be wondering what December has to do with the economy? How about calendar? People are normally looking for calendar for incoming year in December. Many companies in Malaysia are producing calendars to be given out to their customers, official contacts and suppliers. We can find so many types of calendars form small and simple to big and colorful and quite expensive too. Why companies are producing calendars? Why they have to incur an additional unnecessary expenses? Is it part of the advertising expenses? What are

Originally, the theory of the firm was based on the assumption that the goal or objective of the firm was to maximize current or short-term profits but, the theory of the firm now postulates that the primary goal or objective of the firm is to maximize the wealth or value of the firm. This is given by the present value of all expected future profits of the firm. Future profits must be discounted to the present because a ringgit of profit in the future is worth less than a ringgit of profit today. As such, companies are willing to invest in producing calendars as they know that they will gain profit in long-term.

The above can be shown as a regression model as follows :-

From the above regression model, we can see that the quantity demanded (Q) will increase as the is a reduction in price of the product (P), increase in consumer's income (Y), increase in price of substitute's product, increase in consumer's taste, and increase in expenditure on calendars. Using the given t values, we can compare it with table t values at certain percentage level, normally at 5 percent level of significance. If the given (calculated) t values are higher than the table values, we can accept the hypothesis that there are statistically some significant relationship between Q (quantity demanded) and other determinants of Q which are P, Y, S, T, and A. The coefficient of determination (R2) of 0.85 shows that 85 percent of the total variation or dispersion in quantity demanded (Q) is explained by the variation in the independents variables which are the price of product, consumer's income, price of substitute's product, consumer's taste, and the total expenditure on calendars.

Some common words found in the essay are:
Theory Firm, Law Demand, Regression Analysis, Terengganu December, Production Theory, UUM DATE, quantity demanded, demand curve, consumer's income, increase price, consumer's taste, price product, price commodity, producing calendars, ECONOMICS EG, ADMINISTRATION OCTOBER, RADZALI MATRIX, shift demand curve, theory firm, increase consumer's, consumer's income increase, income increase price, price substitute's product, quantity demanded particular,

Approximate Word count = 1632
Approximate Pages = 7 (250 words per page double spaced)

Category: Politics

join now Save Paper

Saved Paper

Save your papers so you can locate them quickly!

Newest Essays

Testimonials

"Thank You So Much!!! You have saved me once again!!!"
Jack M.
"With so many papers to chose from, I was able to get ideas to help me with all of my classes. Thank You!"
Brian P.
"I've used this site for the last 3 years to help me come up with ideas for my papers."
Sara J.
"I use this site every week to help me write my own papers!"
Rachel W.
"I love this site!!!"
Marie N.

ECONOMIC NATURALIST

Related Essays

Professional Essays

Saved Paper

Newest Essays

Testimonials