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Economics

Market Structure

In a physical sense, a market means a fixed place where people meet to buy and sell goods; that is, […]

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Economics

Trade Union

TRADE UNION A trade union is an association of workers formed to enable the members to take collective, rather than […]

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Economics

Unemployement -Causes, types and Solution

UNEMPLOYMENT Unemployment is defined as a situation in which persons of working age, able and willing to work are unable […]

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Economics

Labour and Wages

SUPPLY OF LABOUR Supply of labour may be defined as the total number of people of working age offered for […]

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Economics

Concept of Labour Force

LABOUR MARKET Labour market is defined as a market which workers and employers are brought into contact and conditions of […]

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Economics

Capitalism, Socialism and Mixed Economy

ECONOMIC SYSTEMS An economic system may be defined as a medium or an organized way by which the means of […]

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Economics

Revenue concept and types of Revenue

TOTAL REVENUE (TR): This refers to the total income which a firm derives from the sale of its products. Total […]

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Economics

Law Of Diminishing Returns Or Variable Proportion

This law refers to a short run production situation.  The law of diminishing returns states that as more of the […]

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Economics

Production possibility curve

A production possibility curve (PPC) is a graphical or diagrammatic illustration of all possible bundles or combinations of two types […]

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Economics

INTERNATIONAL TRADE AND NATIONAL INCOME DETERMINATION

Effect of imports on the multiplier: Increased importation reduces the sizes of multiplier with a consequent reduction in the size […]