Business, Commerce, Economics

Advantages of Transportation

INTRODUCTION:  Transport refers to physical means by which human beings and commodities are transferred from one place to another. It removes the hindrances in the movement of goods and persons. Agricultural development, industrial development social welfare and political integration of a country largely depended on the means of transportation. Transport distributes the goods, which are centrally produced to various parts…

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MONETARY POLICY VS FISCAL POLICY
Banking, Business, Commerce, Differences, Economics

MONETARY POLICY VS FISCAL POLICY

MONETARY POLICY NEED FOR: If the monetary system of the country is unorganized then the balance of demand and supply of credit disturbs. Due to which the economic system of the country faces many difficulties. If the amount of credit increases in any country the country becomes inflation stricken, which leads to the problem of dearness. However, if the amount…

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Fiscal Policy and Its Objectives
Business, Economics

Fiscal Policy and Its Objectives

Fiscal Policy Definition: It is the management of taxes and public expenditure to achieve the goals of economic growth with employment creation and stable prices. This policy must be consistent with other polices like monetary policy. What is Fiscal Policy? Public finance is managed by the government to influence the economy in a required direction. This is called fiscal policy.…

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Difference between Microeconomics and Macroeconomics
Business, Differences, Economics

Difference between Microeconomics and Macroeconomics

Economics is classified into many types but in this blog, we will concentrate only on microeconomics and macroeconomics presently. Microeconomics: The analysis of the behavior of individual decision-making unit within an economic system, from households to business firms is called microeconomics. It focuses on individual participant in the economy. For example, the producer, consumer, worker etc. The following issues (and…

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Market and Types of Market
Business, Economics

Market and Types of Market

What is Market? Market means an arrangement that bring buyers and sellers of product and resources together. The buyers and sellers can come together by any means of communication. They can come face to face as in a shop. They can communicate on telephone or by correspondence. In a market, the prices of goods and services tend towards equality through…

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Production in Economics
Business, Economics

Production in Economics

What is Production? Production is the process of using labour, capital and other inputs to make goods and services. Input mean labour, capital, land entrepreneurship and natural resources that are combined to make outputs like cars, computers, wheat, rice or any other marketable goods or service. Thus production is a process of transforming inputs into outputs. Production Function The more…

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Market Equilibrium in Economics
Business, Economics

Market Equilibrium in Economics

What is Market Equilibrium in Economics? Market equilibrium is a situation when price of a goods is such that the quantity the buyers are willing to purchase (demand) is exactly equal to the quantity the producers are offering for sale (supply).                       Quantity Demand = Quantity Supplied Shortage: A shortage exists in a market if the quantity demanded of a…

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Difference Between Quantity Demand and Quantity Supply?
Business, Differences, Economics

Quantity Demand and Quantity Supply

Quantity demanded is the actual amount of the commodity bought at specific price in a particular market during a specific period of time. Quantity supply means the number of commodities offered for sale at a particular price. The term supply is different from production or stock.