Economics/Accounting

Opportunity Search and Identification

 Introduction/definition of concepts Opportunity refers to  the  extent to  which possibilities for new  ventures exist and theextent  to  which  entrepreneurs  have  the  leeway  to  influence  their  odds  for  successthrough their own actions. Simply put, opportunity is a perceived means of generatingincomes that previously have not been exploited and are not currently being exploitedby others. Opportunity …

Opportunity Search and Identification Read More »

Start Up Decision – What Motivates People to Begin New Businesses

Introduction/Definition of Concepts It  is  worthy  of  note  to  consider  what  motivates  people  to  begin  new  businesses particularly  when  one  reflects  on  what  it  takes  to  start  a  new  one  in  the  Nigerian environment. It should be understood that new businesses are not created by accident, but clearly intentional. Entrepreneurs are driven by challenges which …

Start Up Decision – What Motivates People to Begin New Businesses Read More »

CONTRACT COSTING

This is a form of specific order costing that is used by firms of builders and public works contractors who under take work on the contract basis. This costing method is applied to work which: Is undertake to meet customers specific requirement. This means that the construction is undertaken following the customers expectation. Takes a …

CONTRACT COSTING Read More »

PLANNING AND CONTROL THEORY

3.0   INTRODUCTION Planning is an integral part of all human activities, social, economic, political e.t.c. All activities require planning in order to enhance performance. The popular saying, “Whoever fails to plan has planned to fail”, underscores the need for planning. 3.1 DEFINITION OF PLANNING Planning refers to the establishment of objectives and the formulation, evaluation …

PLANNING AND CONTROL THEORY Read More »

what is an economies scale or scale of production?

By economies scale, we mean the growth of a firm or an industry resulting from expansion of the scale of productive capacity which leads to increase in output and decrease in its cost of production per unit of output. There are two types of economies scale and they are; 1. Internal economies and internal dis-economies. 2. External …

what is an economies scale or scale of production? Read More »