An improved economy is one of the first Characteristics of Developed Country These countries have a high level of economic growth as well as security….
The 11 Features of Capitalism: Its Advantages and Disadvantages
Capitalism is an economic system where individuals and firms have the right to own properties like farms and factories etc. privately and they can use…
16 Important Features of Democracy
Democracy can be defined as a system where the power of voting elects the system of government by the people. People choose their representative by…
The Economic Cycle: Stages, Causes, Examples, and Features Explained
The upward or downward movement of GDP or gross domestic product around a long duration trend of growth is called an economic cycle. It is…
Mixed Economies: Meaning, Types, Advantages, and Disadvantages
A mixed economy is that economy which includes the aspects of more than one economic system. A mixed economy contains both government-owned and privately-owned enterprises…
Monopolistic Competition: Meaning and 10 Important Features of Monopoly
It is difficult to define the words monopoly and competition separately as both are quite common and frequently used terms in the business world. However,…
Difference between Depression and Recession – Meaning and Impact
An economic cycle refers to the ups and downs in commercial activities such as investment, saving, employment, income, etc. over a certain period of time….
What is Economic Environment? 10 Factors affecting it
The economic environment can be defined as the combination of all the economic factors such as, inflation, income, employment rate, etc. which affect the buying…
Marginal Benefit: Things to consider in Marginal Benefit, and Examples
Marginal benefit in simple terms is defined as the uppermost amount a customer is willing to shell out for an additional service or product. It…
Economic Efficiency: Meaning, Types and Examples Explained
Economic efficiency is defined as a state where all the goods are distributed in such a way that most economic output is achieved and waste…
Poverty Cycle: Causes, Factors and How to Break the Cycle of Poverty
The poverty cycle is defined as a chain of events that results in the continuation of poverty until and unless there is some outside intervention….
Natural Monopoly: Regulation, Advantages, Disadvantages and Examples
Natural monopoly as the name suggests is a type of monopoly that exists in the industry because the infrastructural costs give the largest and in…
Break-even Point: Meaning, Advantages, Disadvantages and Examples
The breakeven point is defined as the point where both total expenses and total revenues are equal to each other. It is the production level…
10 Types of Inflation and the reasons that cause them
Inflation is a word that we all hear frequently, and people don’t like the sound of this word even they don’t understand it correctly. However,…
Economic Order Quantity: Meaning, Formula, Assumptions, & Advantages
Economic order quantity is also popularly known as EOQ. It is defined as a production scheduling concept as it is used to determine the frequency…
