This week in our college we were said that on Onam Day all the students of our college had to were Dhoti and white shirts(for boys).Unfortunately I never knew how to were a Dhoti nor did i have any Dhoti.When I went to the shop to purchase one, the shopkeeper quoted me ₹300. Which was a bit on the higher side. So the students together decided to order in bulk , around 90 of the together. This brought down the price to ₹200 each. This happened because the shopkeeper was able to produce it are a lower cost, there by taking the Avengers of economies of scale.
Economics when applied to real life sounds beautiful. this blog is for those students who are discovering the different facets of economics applications and want to share their discoveries.
Subscribe to:
Post Comments (Atom)
IMPACT OF SOCIETY /SOCIAL GROUPS ON PURCHASE INTENTIONS OF HOME BUYING- Consumers are the most important factor that will make any bus...
-
Price Discrimination Price Discrimination is action by which a single consumer may be charged different prices for different units of g...
-
IMPACT OF SOCIETY /SOCIAL GROUPS ON PURCHASE INTENTIONS OF HOME BUYING- Consumers are the most important factor that will make any bus...
-
CONSUMERS SWITCHING TO CLOSE SUBSTITUTES The goods with close substitutes have more elastic dem...
No comments:
Post a Comment