Category: Management

Balance of Payment (BOP)

Balance of payment is the sum of all transactions that take place between its residents and the residents of all...

Balance of trade is the summary of total volume of exports and imports of visible goods and services of a...

International trade affects various sectors of the economy directly and indirectly. The main roles of international trade are discussed below:...

Introduction International trade is the transaction of goods and services between different countries. It is taken as a major part...

Importance of Macroeconomics Macroeconomics is also an equally useful tool in analysis of various fields of economic activities. It is...

Concept of Macroeconomics: The prefix ‘macro’ in macroeconomics is derived from the Greek word ‘makros’ which means large. So, macroeconomics...

Describe the nature of marginal utility curve. Marginal Utility Marginal utility is the change in total utility by the consumption...

What is Monopoly? How are Price and Output are determined under it? Monopoly: Monopoly is defined as the market structure...

What is the price elasticity of demand? Explain its determinants. Price Elasticity of Demand: The price elasticity of demand is...

Explain the law of variable proportions The law of variable proportions: The law of variable proportions was propounded by economists...