Public enterprises are business organizations that came into existence through appropriate enabling Acts of Parliament, or Decrees or Edicts in a particular country or state. They may be commercially-oriented or public service-oriented.
The wholesaler is that person who obtains goods from the manufacturer in bulk and sells to the retailer in smaller quantities. He is therefore a vital link between the manufacturer and the retailer in the chain of distribution that is, he is the middleman.
A partnership exists when two to twenty persons having similar economic interests come together to set up a business purposely to make profits. This fonn of business organization is very common.
Distribution Trade refers to that aspect of commercnal activities which is responsible for the commerct channelling of commodttles from the producers to the ultimate consumers.
Sole Proprietorship is a one man business organization. It is the simplest unit of business organization though usually not the smallest in all respects. It features prominently in the trades, occupations, agriculture and small scale industrial establishments.
Private Limited Company is a form of business organization that is privately owned by a minimum of two and a maximum of fifty members. By its nature of existence, it cannot offer its shares to the public for subscription.
A co-operative society is an organization or body of people of common interest who come together to protect their interest and utilize this to better the lot of its members by engaging in various economically viable ventures.
A joint stock company or a public limited liability company is that form of business organization in which the liability of the shareholders is limited to the amount of capital they contributed and the unpaid part of the capital allotted to them. It must have a minimum of seven members but no maximum membership is prescribed for it.
A labour market is any institution or arrangement which brings job seekers and employers of labour together within a particular geographical region. We can therefore talk of local labour market, national labour market and international labour market.
Market Structure | A market may be defined as any place at a point in time where buyers and sellers meet for the exchange or buying and selling of goods and services.
Population Distribution Definition
Population distribution refers to the structure of the population. The structure includes geographical age, sex and occupational distribution.
Factors Affecting Geographical Distribution
By geographical distribution of population, we mean the dispersion of people throughout the length and breadth of a particular country.
Factors affecting the distribution are:
Availability of agricultural...
What is Labour Mobility?
Labour mobility or mobility of labour means the ease with which labour can move both geographically and occupationally.
That is, labor mobility refers to the flexibility with which the workforce can relocate. This is an important variable for the economic study since work is one of the...
Nigeria Banking History
All started in the nineteenth century when Elder Dempster Company bought in a foreign owned bank into Lagos.
Standard Bank Nigeria Limited (Now First Bank PIC)
In 1894, a British-owned bank opened its office in Nigeria and operated under the name of Bank of British West Africa. This...
A perfect market may be defined as a market where neither the sellers nor buyers can influence the prices of goods and services because they are many in number.
It is also called competitive market or perfect competition. In such a market, identical goods are sold by many sellers at a common price.
An imperfect market may be defined as any market structure where either the buyers or the sellers can influence the prices of goods and services because they are few in number. An imperfect market deals in different products.
In general, price discrimination occurs when a producer sells a commodity to different buyers at different prices for reasons not associated with differences in cost.
For example, doctors, lawyers and engineer sometimes vary their fees according to the incomes of their clients. Cinemas also charge lower admission prices for children.
A bank may be defined as a financial institution set up purposely for safe-keeping of money, valuable goods and documents like wills and others. The existence of banks has been a big boost to business activities theworld over.
Money is any tangible commodity which is generally acceptable as a medium of exchange for goods and services or for purposes of settling debts within a given society/community.
Inflation is a worldwide phenomenon but the rate varies from country to country.
Nigeria has been experiencing a high rate of inflation estimated to be well over 45%. Despite the various measures adopted to control inflation it has defied solutions.
