management basics

Arm's Length Price

5 Key Strategies to Master Arm’s Length Price: A Comprehensive Guide for the Modern Business

Introduction Brief explanation of the term ‘Arm’s Length Price’ At its most basic, the Arm’s Length Price refers to the price at which two unrelated and independent parties would agree to transact under normal market conditions. It’s the price you would expect to see if the two parties were dealing with each other purely on …

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Engel's law, Engel's law graph

Engel’s Law- Definition, History and Modern Day Implications: 6 Things to know

What is Engel’s Law? Engel’s law is one of the cornerstones of macroeconomic and income studies. Ernst Engel first observed the pattern now known as Engel’s Law in the Prussian census of 1817-1818. He noticed that as incomes increased, households spent a smaller portion of their income on food consumption than those with lower incomes. …

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Diseconomies of Scale: 10 Things that you Know: A Comprehensive Guide

Diseconomies Of Scale arise in a business as the scale and scope of the business begin to expand. As businesses grow Knowing what diseconomies of scale are and how they can affect a business is essential for business owners and managers. In this article, we will explore the causes, types, examples, differences, effects, and strategies …

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Management as a Science and Art: A Pertinent Debate and Combining Best of Both Worlds

Management as a Science and Art: Introduction Management as a Science and art has been a quintessential debate among practitioners. Management has long been seen as a science – a set of processes and methods that can be used to achieve organizational goals. But what if there is more to management than meets the eye? …

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