Difference Between Money Income and Real Income
Posted inDifference Between

Difference Between Money Income and Real Income

Money Income in economics is the price of inputs such as fixed supply such as land, the principal or even a unique talent such as a footballer or musicians while Real Income is the amount of goods and services that a person can acquire through their monetary income.
Public Finance: Definition, Features & Objectives
Posted inFinance

Public Finance: Definition, Features & Objectives

Public Finance is an aspect of economics that state how a government gets and spends the revenue it collects. In a more technical sense, it can be defined as that branch of economics that studies the relationship between the revenue and expenditure patterns of the government.
The Mode – Definition, Features, Merits & Demerits of Modal
Posted inEconomics

The Mode – Definition, Features, Merits & Demerits of Modal

Mode is the score that occurs most frequently in a set of scores. For example, the mode of 3, 4, 5, 6, 3, 7, 4 8, 3, 9 and 10 is 3 because it is the figure that occurs most frequently in the set. A set of values can have two modes or bi-modals, e.g. 3, 9, 12, 6, 11, 24, 13, 11, 6.