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Synopsis
Excerpt from Business Economics and Statistics
For unless we can answer it we have little power of forecasting costs and profits; and what is perhaps more important, we have no basis on which to judge what is normal and proper.
To answer the question we will do well to try to see the market from the "enterpriser's" point of view. By the enterpriser is meant the one who assumes responsibility and risk in the handling of wealth. To be sure, the term is often little more than an abstraction, for so complicated is the business world that few men assume this function solely. In some degree every active person is an enterpriser selling his services, the uses of his capital, or his goods. He is investing what he has, and is taking the inevitable responsibility and risk. But in addition he is also performing other functions. Many men who are enterprisers on a large scale are also managers, and as we have just seen should properly charge off a certain portion of their income to their own time before reckoning what their capital has made. Perhaps in the director of a corporation we may find the function of the enterpriser in its most elementary form, particularly when he turns investigation and management over to paid experts. And in any case we may conveniently personify responsible control of business in the figure-head of the enterpriser, however much the function may in fact be divided.
Let us assume the case of the enterpriser of a large industrial corporation. He is using his own and associates' property, borrowing funds, hiring labor, purchasing equipment and supplies, and placing goods on the market. Suppose for the sake of argument that business in general is progressing fairly smoothly. Such change as occurs comes gradually, and is anticipated with some degree of accuracy. What now will determine the rent, interest, profits and wages that the enterpriser pays?
The usual answer to this question is the law of supply and demand. This is qui...
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- PublisherForgotten Books
- Publication date2024
- ISBN 10 1330029186
- ISBN 13 9781330029183
- BindingPaperback
- Number of pages32
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Business Economics and Statistics (Classic Reprint)
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Paperback. Condition: New. Print on Demand. This book concerns economics and statistics and their application within business. The author claims that understanding these principles is essential to a prosperous business. Economics is defined as the earning of capital in three forms: rent, profit, and interest, and how these three forms interact with each other. Statistics are used to track and examine the broader trends that can impact businesses, assisting them in planning for the future and adapting to changing conditions. The book discusses many other applications of economics and statistics in business, from the perspective of both the individual business and the wider market. By understanding these principles, individuals can understand the past and present to make wiser choices about the future. Forgotten Books publishes hundreds of thousands of rare and classic books. This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works. The digital edition of all books may be viewed on our website before purchase. print-on-demand item. Seller Inventory # 9781330029183_0
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Business Economics and Statistics Classic Reprint
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Business Economics and Statistics Classic Reprint
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LX-9781330029183
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