MONEY Definition
• A medium of exchange. • With the help of money any exchange of goods and services can take place. • Money is said to be the most liquid asset among all the…
Economic Fluctuation
• The business world in capitalistic economy is said to experience ups and downs in its economic activities. • The fluctuations take the form of Wave are known as Trade…
Marginal Productivity of Capital (MPC)
• The additional physical product obtained due to the employment of one extra unit of capital (do/ dc) per unit of time. • The MPC is net current product of…
Investment Definition
Investment has dual aspect. It implies the production of new capital goods like plants and equipments. Secondly, a change in inventories or stocks of capital of a firm between two…
Difficulties in Estimating National Income
Conceptual Difficulties: • No practicable methods exists for inclusion of some items in National Income (NI), such as — services for which no remuneration is paid, goods that are marketed…
Duopoly
It is a specific type of oligopoly where only two producers exist in one market. In reality, this definition is generally used where only two firms have dominant control over…
Oligopoly
Oligopoly is a market situation in which there are few firms producing either differential goods or closely differential goods. The number of firms is so small that every seller is…
Monopolistic Competition
It is that form of market in which there are large numbers of sellers selling differentiated products which are similar in nature but not homogenous, for eg., the different brands…
