Journal Article United Nations Primer for Development: Reply Get access S. Herbert Frankel S. Herbert Frankel Nuffield College, Oxford University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 67, Issue 2, May 1953, Pages 280–285, https://doi.org/10.2307/1885339 Published: 01 May 1953
Is Group Choice a Part of Economics? Further Comment Howard S. Ellis Howard S. Ellis University of California, Berkeley Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 67, Issue 4, November 1953, Pages 609–613, https://doi.org/10.2307/1883606 Published: 01 November 1953
I. Introduction, 209. — II. Theoretical development of the acceleration principle, 211. — III. Critical appraisal of the acceleration principle, 216. — IV. Other forms of the acceleration principle, 221.
I. Introduction, 30. — II. The meaning of depreciation, 31. — III. The cause of depreciation, 33. — IV. Resumption and a choice of standard, 36. — V. The Ingot Plan, 37. — VI. The fall in prices after resumption, 40. — VII. Attitude towards Bank of England, 43. — VIII. Conclusion, 46.
Abstract Under a system of free enterprise, profit is essential to the continuation of business. The effectiveness of management is therefore, judged by its ability to maintain constant earnings. Accountants have frequently defined earnings or profits as the residue remaining after matching costs against related revenues. To alter this profit picture, two possible courses are open to management: (1) either increase the sales income, without a similar increase in costs, or (2) reduce the costs endeavoring to keep the sales income constant. In order for a manufacturer to increase his sales, he must first try to determine what the future may hold for his business in so far as the demand for his product is concerned, and then to plan the activities of the business to capitalize profit-wise on the increased sales. In order for the business executive to forecast business activity, there are certain fundamentals which should always be considered. The past experience of the business concerned is of paramount importance. The sales records of the company are the source for all this type of information. The economic condition of the business, the industry and of the country should also be considered. Also the type of industry will have significance due to the type of market demand which it may have.