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This unit helps to train students on how to utilize economic techniques to address business issues like the ones mentioned above. Students must first comprehend the economic tools before learning how to use these ideas to solve challenges in the real world. Managers make numerous decisions every day that have an impact on their company's chances of survival. Among them are choices about how much of a particular product to create, how much to charge for it, how to hire people, how much time and effort should be put into streamlining the production process, and how much money should be bid in an auction, etc. Such decision-making within a corporation can be improved by having a basic understanding of economic ideas. Ask for help from our highly experienced experts for GA503 assessment answers if you need assistance with a problem relating to this unit. If you need assistance with your assignment solution on GA503, you have come to the correct spot. You can receive the best academic guidance from our team of highly educated subject matter specialists at Sample Assignment.
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Governments affect the economy via altering tax rates and types, spending amounts and types, and borrowing amounts and types. Both directly and indirectly, governments impact how resources are employed in the economy.
In the absence of market competition, businesses would put less emphasis on technological advancement and cost-cutting initiatives. Companies would benefit from higher prices and better services, and consumers would not receive any benefits.
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