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MONEY Definition

•         A medium of exchange. •         With the help of money any exchange of goods and services can take place. •         Money is…

Economic Fluctuation

• The business world in capitalistic economy is said to experience ups and downs in its economic activities. • The…

Marginal Productivity of Capital (MPC)

• The additional physical product obtained due to the employment of one extra unit of capital (do/ dc) per unit…

Investment Definition

Investment has dual aspect. It implies the production of new capital goods like plants and equipments. Secondly, a change in…

Difficulties in Estimating National Income

Conceptual Difficulties: • No practicable methods exists for inclusion of some items in National Income (NI), such as — services…

Concepts Associated with National Income

Duopoly

It is a specific type of oligopoly where only two producers exist in one market. In reality, this definition is…

Oligopoly

Oligopoly is a market situation in which there are few firms producing either differential goods or closely differential goods. The…

Monopolistic Competition

It is that form of market in which there are large numbers of sellers selling differentiated products which are similar…

Imperfect Competition

Imperfectly competitive markets may be classified as: Ø  Monopoly, Ø  Monopolistic Competition, Ø  Oligopoly and Ø  Duopoly Monopoly Monopoly refers to the market situation…