DEFINITION:- It is a science of measuring the aggregate output and income of an economy OR National income is that part of the objective income…

DEFINITION: Inflation is measure of rate of change by the rise in price level. 1-low inflation 2- Galloping inflation. Major inflation creates by Govt. because…

DEFINITIONOF DEMAND One has need , have capacity to by and make decision to by, the demand comes in the market. OR The demand for…

UTILITY: Utility is the capability of commodity which could satisfy any human wants. It is a mental Phenomena because physical or physiological characteristics differ from…

PRODUCTION: The transmission of input to output in a physical shape is called production. PROCESS OF PRODUCTION: 1- Natural resources to raw material 2- Raw…

MARKET: Market is mechanism or institution, which bring closer together to seller and purchaser of goods or services where both deal on agreed price. CLASSIFICATION…

TURNOVER FORMULA Determine how many employees left the department during a given period of time. Divide this number by the total number of people employed…

Entrepreneurship is one of the four mainstream economic factors: land, labor, capital, and entrepreneurship. The word itself, derived from 17th-century French entreprendre, refers to individuals…

Trade is the activities concerned with the buying and selling of goods and services. The objectives of trade is to make the goods available to…