Meaning and Nature of Economics
Meaning Economics deals with how goods are produced, circulated, consumed, and disposed of in the economy. Natural resources are extracted …
Danish Malik
Price Policy and It’s Objectives: With Examples
Meaning Strategies designed by a company for pricing its products and services are called Price Policies. Every company has limited …
Law of Diminishing Marginal Utility and It’s Assumptions
Meaning of Diminishing Marginal Utility The human intensity of want for any commodity tends to decrease as more and more …
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Consumer Surplus With Examples: Comparison with Marginal Utility
Meaning The term Surplus refers to additional or extra. Before making any buying decision, a consumer assumes the cost of …
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What is Capitalist Economy and It’s Features: Pros and Cons
Meaning A capitalist economy is an economic system and mode of production in which the means of production and trade …
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Reference Price Meaning and Types in Business Management with Examples
Meaning of Reference Price A reference price is a price at which the producer “intends” to sell products and services …
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What is Velocity of Money in an Economy with Examples
Meaning The velocity of money refers to the rate at which money is transacted within the economy for goods and …
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Meaning of Intermediate Goods With Examples and Classification
Meaning of Intermediate Goods Intermediate goods are goods used as input to create the final products sold to the consumers. …
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What is Departmentation and It’s Types: Benefits and Structure
Meaning of Departmentation Departmentation is the process of dividing the whole organization into different groups and segregating people into those …
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Differences and Similarities Between Recession and Inflation in Economic Crisis
Basic Concepts of Recession and Inflation Recession A recession refers to a period of decline in productive economic activity or …
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