Posted inEconomics

Joint Stock Company: Definition, Features, Merits & Demerits

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.
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.
Price Discrimination
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.