The History and Evolution of Banking in Nigeria
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…
Posted inEconomics
Perfect Market: Definition, Features, Merits & Demerits
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.
Posted inEconomics
Deflation: Definition, Causes, Effect & Control of Deflation
Deflation refers to a persistent or continuous fall in the general price level. The value of money increases during a deflationary period.
Posted inEconomics
Imperfect Market: Definition, Features, Types, Merits & Demerits
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.
Posted inEconomics
Price Discrimination: Definition, Features & Examples
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.