Law Of Demand

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Wikibooks has a book on the topic of Learning Theories In psychology and education, a common definition of learning is a process that brings together cognitive, emotional, and environmental influences and experiences for acquiring, enhancing, or making changes in one's knowledge, skills, values, and world views (Illeris,2000; Ormorod, 1995). Learning as a process focuses on what happens when the learning takes place. Explanations of what happens constitute learning theories. A learning theory is an attempt to describe how people and animals learn, thereby helping us understand the inherently complex process of learning. Learning theories have two chief values according to Hill (2002). One is in providing us with vocabulary and a conceptual framework for interpreting the examples of learning that we observe. The other is in suggesting where to look for solutions to practical problems. The theories do not give us solutions, but they do direct our attention to those variables that are crucial in finding solutions. There are three main categories or philosophical frameworks under which learning theories fall: behaviorism, cognitivism, and constructivism. Behaviorism focuses only on the objectively observable aspects of learning. Cognitive theories look beyond behavior to explain brain-based learning. And constructivism views learning as a process in which the learner actively constructs or builds new ideas or concepts.

Contents [hide] • • • • • • • •

1 Behaviorism 2 Cognitivism 3 Constructivism 4 Informal and post-modern theories 5 Other learning theories 6 Other interests 7 See also 8 Notes

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9 External links

The Principles of

management [edit] Management principles are statements of fundamental truth. These principles serve as guidelines for decisions and actions of managers. They are derived through observation and analysis of events which managers have to face in practice. 1. Division of Work The specialization of the workforce, creating specific personal and professional development within the labour force and therefore increasing productivity; leads to specialization which increases the efficiency of labour. By separating a small part of work, the workers speed and accuracy in its performance increases. This principle is applicable to both technical as well as managerial work. 2. Authority and ResponsibilityThe issue of commands followed by responsibility for their consequences. Authority means the right of a superior to give order to his subordinates; responsibility means obligation for performance. This principle suggests that there must be parity between authority and responsibility.. They are co-existent and go together, and are two sides of the same coin. 3. DisciplineDiscipline refers to obedience, proper conduct in relation to others, respect of authority, etc. It is essential for the smooth functioning of all organizations. 4. Unity of Command This principle states that every subordinate should receive orders and be accountable to

one and only one superior. If an employee receives orders from more than one superior, it is likely to create confusion and conflict. Unity of Command also makes it easier to fix responsibility for mistakes. 5. Unity of Direction All those working in the same line of activity must understand and pursue the same objectives. All related activities should be put under one group, there should be one plan of action for them, and they should be under the control of one manager. It seeks to ensure unity of action, focusing of efforts and coordination of strength. 6. Subordination of Individual Interest The management must put aside personal considerations and put company objectives first. Therefore the interests of goals of the organization must prevail over the personal interests of individuals. 7. Remuneration Workers must be paid sufficiently as this is a chief motivation of employees and therefore greatly influences productivity. The quantum and methods of remuneration payable should be fair, reasonable and rewarding of effort. 8. The Degree of Centralization The amount of power wielded with the central management depends on company size. Centralization implies the concentration of decision making authority at the top management. Sharing of authority with lower levels is called decentralization. The organization should strive to achieve a proper balance. 9. Scalar Chain Scalar Chain refers to the chain of superiors ranging from top management to the lowest rank. The principle suggests that there should be a clear line of authority from top to bottom linking all managers at all levels. It is considered a chain of command. It involves a concept called a "gang plank" using which a subordinate may contact a superior or his superior in case of an emergency,defying the hierarchy of control.However the immediate superiors must be informed about the matter 10. Order Social order ensures the fluid operation of a company through authoritative procedure.

Material order ensures safety and efficiency in the workplace. 11. Equity Employees must be treated kindly, and justice must be enacted to ensure a just workplace. Managers should be fair and impartial when dealing with employees. 12. Stability of Tenure of Personnel The period of service should not be too short and employees should not be moved from positions frequently. An employee cannot render useful service if he is removed before he becomes accustomed to the work assigned to him. 13. Initiative Using the initiative of employees can add strength and new ideas to an organization. Initiative on the part of employees is a source of strength for the organization because it provides new and better ideas. Employees are likely to take greater interest in the functioning of the organization. 14. Esprit de Corps This refers to the need of managers to ensure and develop morale in the workplace; individually and communally. Team spirit helps develop an atmosphere of mutual trust and understanding. These can be used to initiate and aid the processes of change, organization, decision making, skill management and the overall view of the management function. Fayol also divided the management function into five key roles: • • • • •

To organise To plan and forecast (Prevoyance) To command To control To coordinate

by:andy botingana

Further Reading - [edit] •

Administration Industrielle et Général, Henri Fayol, 1917

Sources - [edit] 1. http://www.12manage.com/methods_fayol_14_principles_of_management.html 2. Administration Industrielle et Général, Henri Fayol, 1917

Participants in this learning resource [edit] •

User:RobbiG

See also [edit] • • • • •

School:Business Topic:Master of Business Administration Topic:Business research Topic:Start-Up Business Financing Topic:International Business

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Business and Economics Portal This box: view • talk • edit

In economics, the law of demand is an economic law that states that consumers buy more of a good when its price decreases and less when its price increases. Ceteris Paribus. The greater the amount to be sold, the smaller the price at which it is offered must be in order for it to find purchasers. Assumptions:• There should not be any change in taste of the consumer of goods (T). • The purchasing power of the typical consumer must be remain constant. • The price of all other commodities should not be change. Limitation:• change in taste or fashion. • Change in income • Change in other prices. • Discovery of substitution. • Anticipatary change in prices. • Rare or distinction goods.

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There are certain goods which do not follow this law. These include Veblen and Giffen goods

[edit] See also Business and economics portal •

Supply and Demand

law of demand states that other factors remaining constant more of goods will be purchased only at lesser price. these other factors may include taste and preference of consumers,price of substitute and related goods,income,etc.

[edit] References 1. ^ Sullivan, Arthur; Steven M. Sheffrin (2003). Economics: Principles in action. Upper Saddle River, New Jersey: Pearson Prentice Hall. pp. 552. ISBN 0-13-063085-3. http://www.pearsonschool.com/index.cfm?locator=PSZ3R9&PMDbSiteId=2781&PMDb SolutionId=6724&PMDbCategoryId=&PMDbProgramId=12881&level=4.

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