Natural resources refer to the materials or substances with which a nation has been endowed by nature and which are necessary for the production of human wants. They are mostly associated with land in all its ramifications. Examples of natural resources are the minerals in the ground and vegetation. Natural … Read more
MEANING OF INFLATION Inflation refers to a persistent and sustainable rise in the general price level. A general phenomenon during a period of inflation is the continuous fall of the value of money in the economy. PRICE … Read more
Definition of Industry and Industrialization Industry: The term industry refers to a group of firms that produce broadly similar goods or offer broadly similar services e.g. all the firms producing cement belongs to the cement industry. The firm on the other hand refers to an independently administered business unit that carries out production, construction, or distribution … Read more
DIFFERENCES BETWEEN DOMESTIC TRADE AND INTERNATIONAL TRADE Domestic trade is also known as internal trade. It involves the exchange of goods and services within the national boundary. International trade is also known as foreign trade or external trade and it involves the exchange of goods and services … Read more
A business organization is any form of establishment that undertakes the production of goods or rendering of services demanded by the consumers. The primary objectives of any business or organization are to make a profit. Types of Business Organizations Business organizations can be classified into two major types. These are private enterprises and … Read more