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Economics: Definition, Branches & Basic Concepts of Economy
According to Professor Robbins, Economics may be defined as “a Science which studies human behaviour as a relationship between ends and scarce means which have alternative uses."
Why Economics is a Science? Meaning & Definition
Why Economics is a Science? | Economics is called a science subject because it uses scientific measures to explain, observed phenomena and predict the outcome of future events. This scientific method of observation is generally referred to as inductive method.
Basic Problems of Economics
Basic Problems of Economics | Scarcity and choice are the cardinal problems faced by economists and the society at large. The study of economics is necessitated by scarcity and the problem created by scarcity has led to choice.
Why Study Economics?
Why Study Economics? - The study of economics assists individuals to be independent and be practical individuals. This is possible through the application of practical approaches to emerging issues and providing solutions to deny problems.
Value of Money: Meaning & Measurements in Economics
The value of money (TVM) is the perception attributed to money at a given time taking into account economic circumstances that influence it, such as inflation.
William Stanley Jevons | Biography, History, Theory & Political Economics
William Stanley Jevons was an English economist and logician, known for pioneering the Marginalist Revolution and for his use of the differential calculus in economics.
William Stanley Jevons (1835-1882) was born in Liverpool to a wealthy merchant family. He entered University College London , but due to the bankruptcy of the family businesses, he had to withdraw from studies and travel to Sydney, Australia to work for several years at the Mint.
Which Math Isn’t Used In Computer Science?
Computer science, at its core, is the study of computation and information processing, both in theoretical and practical terms. It encompasses a broad range...
Where Can I Get Balloons Filled With Helium – Here Is Everything You need...
When it comes to party decorations, few things are as universally beloved as balloons. But not all balloons are created equal.
Helium balloons, in particular,...
List Of Best Undergraduate Courses in Canada Universities
Canada has emerged as a popular education destination for international students. Its high-quality education, multicultural environment, and opportunities for work after graduation are all...
8 Reasons Why An Interdisciplinary Studies Degree Is Perfect For You
Interdisciplinary studies programs combine two or more fields of study into one degree. You'll take classes that cover the ideas, history, and structure of...
What is Interdisciplinary Studies? A Definition and Explanation
What is Interdisciplinary Studies? Interdisciplinary studies programs are offered at almost all colleges and universities, but they are not always easy to find. Many...
Problems of Agriculture and Possible Solutions
Agriculture may be defined as the production of animals, fishes, crops and forest resources for the consumption and other benefits of man. Agriculture is the dominant occupatnon, employing about 50-60 per cent of the total population of West Africa.
Although subsistence agriculture is practised in this part of the world, it will not be an over-statement to say that it is the live-wire of the economies of West African countries.
Retailer: Definition, Functions, Types & Features
The retailer is that person who sells goods in smaller quantities or units to the final consumers. He is the last link in the chain of distribution. He is therefore the middleman between the wholesalerand the consumer.
Partnership: Definition, Features, Merits & Demerits
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.
Market Structure | Definition & Types of 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.
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.
Stock Exchange Market: Definition, Functions & Examples
The stock exchange market is a market which deals with the buying and selling of long term financial assets (securities) such as stocks and shares.
Merchant Banks: Definition, Functions & Examples
A merchant bank is a ‘wholesale bank’ which deals in large sums of money and whose main functions are: issuing of shares and dealing in discounting and acceptance of bills.
Insurance Company: Definition, Roles & Functions
Insurance Company Meaning
An insurance company is a financial institution whose primary function is to receive premiums and enter into contract with individuals and organizations...
Trade by Barter: Definition, Problems, Pros & Cons
Trade by barter is the direct exchange of goods for goods, goods for services, or services for services. It was a system of exchange which was in use before the introduction of money.