In perfect competition market, all super profits are eliminated by an infinite number of firms producing infinitely divisible, homogeneous products In the long run.

Marginal costing may be defined as the technique of presenting cost data wherein variable costs and fixed costs are shown separately for managerial decision-making Absorption Costing is apportionment of total costs to the cost center in order to determine the total cost of production.

Succession planning is a process for identifying and developing internal people with the potential to fill key business leadership positions in the company. Succession planning increases the availability of experienced and capable employees that are prepared to assume these roles as they become available.

 Bottom line growth is growth in the net income of a company.

 Under the leadership of IDBI, an Inter-Institutional Group was formed representing financial institutions like SFC, SIDC, SIIC and other tern lending institutions such as IFCI, ICICI and ARC

 Job Analysis is a process to identify and determine in detail the particular job duties and requirements and the relative importance of these duties for a given job.

Modigliani – Miller theory is a major proponent of ‘Dividend Irrelevance’ notion. According to this concept, investors do not pay any importance to the dividend history of a company and thus, dividends are irrelevant in calculating the valuation of a company.

 In reality it is almost impossible that all firms sell identical products, all firms are price takers, All firms have a relatively small market share, buyers know the nature of the product being sold and the prices charged by each firm and the industry is characterized by freedom of entry and exit. Hence, perfect competition is considered a myth.

Road blocking advertisement is an advertising method in which a commercial is broadcast simultaneously on several radio stations and/or television channels.

If the demand for imports is inelastic, the increase in prices as a result of devaluation will adversely affect the balance of payments, because at higher prices of the imports and almost the same quantity of imports, the country would have to spend more on the imports than before and vice versa. Hence, price elasticity plays significant role in international trade.

 There were four main categories of land reforms in India: Abolition of intermediaries (rent collectors under the pre-Independence land revenue system); Tenancy regulation (to improve the contractual terms including security of tenure); A ceiling on landholdings (to redistributing surplus land to the landless); Attempts to consolidate disparate landholdings

Covariance is a measure of how much two random variables change together.

Strategic planning is a systematic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.