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.
Central Bank: Definition, Features, Functions & Examples
Posted inEconomics Finance

Central Bank: Definition, Features, Functions & Examples

A Central Bank is a National Government owned apex financial institution which controls and supervises the entire monetary system of a country. It assists, directs and regulates the activities of other financial institutions to make them comply with government monetary and economic policies.
Monopoly: Definition, Types, Features, Causes, Pros & Cons
Posted inEconomics

Monopoly: Definition, Types, Features, Causes, Pros & Cons

Monopoly may be defined as a market situation where there is only one producer or supplier of a particular commodity that has no substitute and who has the power to influence the price of the commodity to his own favour. The commodity sold by a monopolist is usually differentiated.