Essay About State Government And Sweet Sugar

Microeconomics
Microeconomics
1. Explain with the help of examples, how the price of a product is determined in market.
Also, explain the change in equilibrium prices & quantity under following cases:
a. Increase in demand > increase in supply
b. Increase in demand < increase in supply c. Increase in demand = increase in supply 2. What is elasticity of demand and supply? Explain in detail (with the help of examples) the factors, which determines the elasticity of demand and supply. Describe the Human Resource Planning process State any 3 types of interviews with examples of the situation in which a particular type of interview is used What do you understand by Internationalization. Include in your response, the process, challenges, barriers, advantages and disadvantages How can a nation seek to attain competitive advantage. Explain with reference to context of the Michael Porter Diamond Theory The State Government granted license to Sweet sugar Ltd. to manufacture and sell sugar with a stipulation that 40 % of the output should be sold to the state government at a controlled price of Rs.3000 per ton and the balance output can be sold in the open market at any price. Following are the details of sweet sugar ltd. for the year ended 31st march 2004. During the year 3600 tons sugar cane was consumed at Rs. 1000 per ton. Direct labor amounted to Rs.825 per ton of sugar produced. The details of other expenditure are as follows: Particulars Rs. Direct expenses 4,20,000 Telephone charges 3,52,695 Office computer purchased 2,75,350 Factory rent and insurance 3,54,760 Machinery purchased 4,25,560 Machinery repairs 98,847 Commission on sales 3,37,650 Factory salaries 2,19,588 Carriage outward 1,54,090 Packing expenses 1,94,450