An industry consists of a group of firms producing broadly similar commodities. Examples are the shoe industry, the transport industry, […]
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EQUILIBRIUM IN THE SHORT-RUN The short run is the period in which a firm can vary its output by changing […]
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Labour and Wages
SUPPLY OF LABOUR Supply of labour may be defined as the total number of people of working age offered for […]
ECONOMIC SYSTEMS An economic system may be defined as a medium or an organized way by which the means of […]
TOTAL REVENUE (TR): This refers to the total income which a firm derives from the sale of its products. Total […]
Effect of imports on the multiplier: Increased importation reduces the sizes of multiplier with a consequent reduction in the size […]
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TAX– features and types
Tax is a compulsory levy imposed by the government or its agency on individuals and firms or on goods and […]
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INFLATION TYPES, CAUSES AND CONTROL
Inflation – types, causes and control Inflation refers to a persistent or sustained rise in the general price level of […]
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DOMESTIC AND INTERNATIONAL TRADE
Meaning of Domestic Trade Domestic or internal trade or home trade involve the exchange of goods and services among the […]
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SERVICE INDUSTRIES
Meaning of Service Industries The service industries involve the provision of services to business as well as to final consumers. […]