What is meant by a closed system? How does this concept help us understand the course of technological change?

Q: How do economies of scale affect business models in manufacturing industries, and how can smaller…

A: Economies of scale refer that when a manufacturing company starts their production on large scale it…

Q: what is the impact of digital technological developments on retailing, the supply chain and stock…

A: As the businesses around the world have gone digital there's been experienced a lot of changes in…

Q: How do design, creativity, and innovation connect in our current environment?

A: Economic activities are incrasing in all over countries eithe developing or developed economy.…

Q: How prevalent and important are small entrepreneurial firms in economies around the globe?

A: Small entrepreneurial firms are businesses that are typically characterized by their size,…

Q: What impact does technological change have on the economy?

A: Economic growth has three main indicators technological advances, capital accumulation, and increase…

Q: How the General Systems Theory works in research & development and marketing?

A: idea of general structures is an interdisciplinary ideational framework concentrating at the…

Q: a= 1, b= 9, c=1, d=8, e=8 8. A Factory manufactures three types of Cars. The fixed and variable…

A: Solution a) The payoff table is the table that represents and analyses a situation where there is a…

Q: What would be another example of a system in the real world that could serve as a metaphor for micro…

A: Microeconomics reflects on the function played by customers and enterprises in the market, including…