perfect competition

In economic theory, perfect/pure competition describes markets such that no participants are large enough to have the market power to set the price of a homogeneous product. Because the conditions for perfect competition are strict, there are few if any perfectly competitive markets. Still, buyers and sellers in some auction-type markets, say for commodities or some financial assets, may approximate the concept. Perfect competition serves as a benchmark against which to measure real-life and imperfectly competitive markets.

product testing

product testing is the testing of a paerticular to ensure that it is safe for consumers to purchase.

how do you calculate revenue?

Revenue= Total sales from goods and services, before expenses and taxes.

what is revenue? and how is revenue calculated?

Revenue is a U.S. business term for the amount of money that a company receives from its activities in a given period, mostly from sales of products and/or services to customers. ...
Source :en.wikipedia.org/wiki/Revenue 
or Revenue is the money you collect for providing a product or service. Revenue is different from earnings, which is what's left of your revenue after subtracting the costs of producing or delivering the product or service and any taxes you paid on the amount you took in. ...

what are stake holders?

A person, group, or organization that has direct or indirect stake in an organization because it can affect or be affected by the organization's actions, objectives, and policies. Key stakeholders in a business organization include creditors,customers, directors, employees, government (and itsagencies), owners (shareholders), suppliers, unions, and thecommunity from which the business draws its resources.

Although stakeholding is usually self-legitimizing (those who judge themselves to be stakeholders are stakeholder ), all stakeholders are not equal and different stakeholders areentitled to different considerations. For example, a company’s customers are entitled to fair trading practicesbut they are not entitled to the same consideration as thecompany's employees. See also corporate governance.

normal objectives

In the design of a relational database management system (RDBMS), the process of organizing data to minimize redundancy is called normalization. The goal of database normalization is to decompose relations with anomalies in order to produce smaller, well-structured relations. Normalization usually involves dividing large tables into smaller (and less redundant) tables and defining relationships between them. The objective is to isolate data so that additions, deletions, and modifications of a field can be made in just one table and then propagated through the rest of the database via the defined relationships.

What factors have made markets more competitive?

. Anew product entering the market
. If the market is in decline, here is more competition
. If there is a recession markets become more competitive
. If another market has a similar idea, and they put their product on the market then there will be more competition taking place

quantitive data:

The term quantitative data is used to describe a type of information that can be counted or expressed numerically. This type of data is often collected in experiments, manipulated and statistically analyzed. Quantitative data can be represented visually in graphs, histograms, tables and charts.

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effective objectives:

• use action words that specify definite, observable behaviors
• indicate an appropriate level of attainment
• are assessable through one or more indicators
• comprehensively and meaningfully define a goal
• are realistic and achievable
• use simple language

what is the difference between qualitive and quantitive data?

Qualititive data: Data that approximates or characterizes but does not measure the attributes, characteristics, properties, etc. Qualitive data describes where as quantitive data defines.

define job batch

A batch job is a scheduled program that runs without user intervention. Corporations use batch jobs to automate tasks that they need to perform on a regular basis. Batch jobs usually run during off peak hours when systems are not being used for online processing. (For example, systems can run to update files, create printed reports, or purge files.) Batch jobs that need to be processed on a regular basis are incorporated into batch schedules.

setting up a business

Understand everything you can about your customers.Before you get started, it pays to talk to the people you’ll be looking to sell to. Unless your product or service is completely revolutionary, your customers will already be buying it from someone else. By communicating with them, it will help you to understand what might make them buy from you instead.

starting up a business

2. Learn all you can about your chosen industry.
If you have never worked in your business sector before, get some work experience. Make sure you know the laws you need to comply with as there is a considerable amount of red tape to deal with. For example, talk to HM Revenue & Customs about tax issues before you start. If your industry has a trade association, it might be worth getting in touch to see if they can help you understand any special regulations you might need to comply with.

setting up a business

1. Write a business plan.Many businesses seem to get by without a plan, and so might yours. On the other hand, preparing and presenting an effective business plan can make all the difference between success and failure. Besides being a great way of capturing the long-term objectives and financial goals for your business, your business plan can be used to demonstrate to prospective lenders, investors and customers that you have thought through your ideas and that they are dealing with a business which has good potential. It also gives you a benchmark to monitor your progress, so if something starts to go off track you can take prompt action to put it right.

Market Analysis

marketing research that yields information about the marketplace

http://youtu.be/efo1TIawwVc

british economy last yeareconomy last year

We should be celebrating. Yesterday brought a raft of good news about the British economy.

Tax receipts up, retail spending up, manufacturers' order books growing, and the public finances in a marginally better shape than we feared - crack open the bubbly and cry 'hoorah'.

Of course, there is always the proviso that one set of figures does not a recovery make.

Nevertheless, the fact that most of the economic signals contained in yesterday's announcements point in the same direction is cheering.

Some of the news is surprising, too. (If Mervyn King, governor of the Bank of England, can admit to having been 'surprised', then surely we mere mortals should be allowed the same emotion.)

Specifically, the fact that corporation tax receipts in July were so strong - up by more than a third on the level seen a year earlier - is striking. Economists seem puzzled by the sudden jump: there is no obvious explanation.

But whatever the reason, it is clearly helpful from the point of view of the public purse: there is now the real possibility that the government's deficit this year will be less than the £149bn that the Office for Budget Responsibility suggested only a few weeks ago.

Read more: http://www.thisismoney.co.uk/money/news/article-1702186/Economy-view-Lets-keep-the-bubbly-on-ice.html#ixzz1dF4mPOrX

british economy last yeareconomy last year

We should be celebrating. Yesterday brought a raft of good news about the British economy.

Tax receipts up, retail spending up, manufacturers' order books growing, and the public finances in a marginally better shape than we feared - crack open the bubbly and cry 'hoorah'.

Of course, there is always the proviso that one set of figures does not a recovery make.

Nevertheless, the fact that most of the economic signals contained in yesterday's announcements point in the same direction is cheering.

Some of the news is surprising, too. (If Mervyn King, governor of the Bank of England, can admit to having been 'surprised', then surely we mere mortals should be allowed the same emotion.)

Specifically, the fact that corporation tax receipts in July were so strong - up by more than a third on the level seen a year earlier - is striking. Economists seem puzzled by the sudden jump: there is no obvious explanation.

But whatever the reason, it is clearly helpful from the point of view of the public purse: there is now the real possibility that the government's deficit this year will be less than the £149bn that the Office for Budget Responsibility suggested only a few weeks ago.

Read more: http://www.thisismoney.co.uk/money/news/article-1702186/Economy-view-Lets-keep-the-bubbly-on-ice.html#ixzz1dF4mPOrX

british economy last year

On the face of it, we should be celebrating. Little more than a month ago, we were speculating that the British economy might have grown by 0.6% in the second quarter – a reasonable, if unexciting performance.

Then, on July 23, the Office for National Statistics gave us its first snapshot (perhaps 'guess' might be a better word) of the real growth figure: it said that GDP had in fact expanded by 1.1%. Result: much celebration all round.

And yesterday, after a bit more number-crunching and careful reflection, the ONS said the right number was even higher, probably 1.2%. In other words, the rebound in the economy was twice as strong as we had originally speculated.

A striking recovery, indeed: the highest quarter-on-quarter increase for a decade.

So why aren't we all hanging out the bunting, planning street parties and throwing our hats in the air?

As with all economic statistics, it is worth scratching the surface to see what lies beneath. Between April and June, the economy received a hefty push from the construction industry.

When last month's preliminary estimates were released, it was suggested that this part of the economy grew by 6.6% quarter-on-quarter. Now, the increase is reckoned to have been 8.5%.

Read more: http://www.thisismoney.co.uk/money/news/article-1702843/British-economy-This-is-no-time-for-panicking.html#ixzz1dF4N4UPL

Current state of the British Economy

Workers in London and the South-east will bear the brunt of the recession, a hard-hitting report warned today.

Recession map: Click 'enlarge' to see full-size version, or scroll down to end of story

Almost two in five of jobs lost will be in the two regions (see map right and below) which have been the engine room of the British economy over the past decade, according to Town Hall chiefs.

But the renaissance of Northern cities such as Liverpool and Manchester, devastated during the industrial decline of the Eighties, means they are best placed to weather the economic storm.

These areas have also benefitted from the relative boom in public sector jobs, whilst the South-east jobs markets is largely dominated by private sector workers.

Construction and manufacturing will be the hardest hit during the financial crisis with an estimated 705,000 jobs going. But employment in shops, restaurants and hotels could also drop by a similar level before the UK's economy recovers.

Read more: http://www.thisismoney.co.uk/money/news/article-1647026/The-recession-map-of-England.html#ixzz1dF3z2kjp

current state of the british economyof the british economy

How big is Britain's debt problem?

The UK had one of the worst budget deficit's in the EU in the last fiscal year, at more than 10% of GDP. It was second only to Ireland (-32.4%) and Greece (-10.5%). Basically that means the British government spent more than it earned - to the tune of £146bn, according to the OBR.

Britain owed £944bn in August, up from £810.5bn a year earlier, according to the ONS. It is likely to hit £1 trillion in 2012-13, given that economists forecast a need to borrow more than £120bn in the 2011/12 financial year. 

Read more: http://www.thisismoney.co.uk/money/news/article-1616085/Economy-watch-What-Britain.html#ixzz1dEyrCZnY

current state of the british economyof the british economy

How big is Britain's debt problem?

The UK had one of the worst budget deficit's in the EU in the last fiscal year, at more than 10% of GDP. It was second only to Ireland (-32.4%) and Greece (-10.5%). Basically that means the British government spent more than it earned - to the tune of £146bn, according to the OBR.

Britain owed £944bn in August, up from £810.5bn a year earlier, according to the ONS. It is likely to hit £1 trillion in 2012-13, given that economists forecast a need to borrow more than £120bn in the 2011/12 financial year. 

Read more: http://www.thisismoney.co.uk/money/news/article-1616085/Economy-watch-What-Britain.html#ixzz1dEyrCZnY

current state of the British Economyof the british economy

curren state of the british economy

Britain's 'Great Recession' started in the spring of 2008 and ended in the summer of 2009. This is based on the technical measure of recession' - two 'quarters' of the year, back-to-back where the size of the economy shrinks, as measured by GDP (Gross Domestic Product). 

It was thought the British economy shrank a total of 6.3% but a change in official measurement in October 2011 suggested the decline was in fact 7.1%.

Read more: http://www.thisismoney.co.uk/money/news/article-1616085/Economy-watch-What-Britain.html#ixzz1dEyHfmko

Current state of the British Economy