It was only in the 1960s that the neo-classical theory of the firm was seriously challenged by alternatives such as managerial and behavioural theories. Managerial theories of the firm, as developed by William Baumol (1959 and 1962) suggested that managers' interests are best served by maximising sales after achieving a minimum level of profit which satisfies shareholders.

Right answer because investment depends heavily on expectations of future returns.

Right answer becasue a factor of overall unemployment that relates to the cyclical trends in growth and production that occur within the business cycle.

This means that an increase in price leads to a fall in quantity demanded; this means the demand curve is downward sloping.

It is a useful tool for ranking projects because it allows one to quantify the amount of value created per unit of investment.

Right answer because the difference between gross and net investment is the amount of depreciation.

Any person, company, or other institution that owns at least one share in a company. A shareholder may also be referred to as a stockholder. Shareholders are the owners of a company. They have the potential to profit if the company does well, but that comes with the potential to lose if the company does poorly.

Social auditing is a process that enables an organisation to assess and demonstrate its social, economic, and environmental benefits and limitations. It is a way of measuring the extent to which an organisation lives up to the shared values and objectives it has committed itself to. Social auditing provides an assessment of the impact of an organisation's non-financial objectives through systematic and regular monitoring of its performance and the views of its stakeholders.

Right answer because if the price was fixed too, low there would be excess demand.

Right answer because GNP is the total value of all final goods and services produced within a nation in a particular year, plus income earned by its citizens (including income of those located abroad), minus income of non-residents located in that country.

Right answer because in the long term a firm will produce provided the revenue covers total costs.

Right answer becuase it is being set up at Kochi the first time.

Right answer because a shift in supply will affect the equilibrium price more than the quantity, if demand is steep i.e. price inelastic.

Right answer because the income per person is usually low.

To create the unlimited resources is not possible by any economy in the world,because there are only finite resources. There are only a finite (or limited) number of workers, machines, acres of land and reserves of oil and other natural resources on the earth. Because most of our resources are finite, we cannot produce an unlimited number of different goods and services and by producing more for an ever-increasing population we are in real danger of destroying the natural resources of the planet. This has important consequences for the long-term sustainability of economies throughout the world and potentially huge implications for our living standards and the quality of life.