Monopoly Meaning, Conditions, Sources and Advantages Monopoly Monopoly is a market where there is only one producer of a good or service. There is also no dose substitute of the good or service. Conditions of Monopoly 1. Single seller and large number of buyers. 2. There is no substitute in the market. 3. Entry ban. 4. Controlled supply. 5. Independent price...

Oligopoly Managerial Economics Notes Meaning Of Oligopoly The term oligopoly has been applied to an industry that consists of a few firms, each producing a substantial share of the total output of that industry. This type of market structure is typical of the petroleum industry, the automobile industry, or the iron and steel industry. If the industry consists of only...

Business Ethics Meaning, Definitions, Theories, Sources and Importance Meaning of Business Ethics The term business ethics refers to the system of moral principles and rules of conduct applied to business. Business ethics means that the business should be conducted according to certain self-recognized moral standards. Business, being a social organ, shall not conduct...

Measurement of Inflation and Measures to Control Inflation Degree of Inflation According to swiftness of rise in price level or intensity of increase in the general price level the inflation may be (a) creeping inflation, (b) running inflation, (c) galloping inflation, and (d) hyper inflation. (a) Creeping Inflation This is show moving and a very mild inflation....

National Income Concept, Types and Measurement Income refers to the flow of wages, interest payments, dividends and other things of values accruing during a period of time (usually a year). The aggregated of all incomes is national income. National income as the aggregate for money value of the annual flow of final goods and services in the national economy during...

Demand Forecasting Meaning, Scope, Types, Importance, Limitations and Criteria for Good Decision Making A forecast is a prediction about a future event which is most likely to happen under given conditions. In a world full of uncertainties, formation of some view about the future is inevitable. Therefore, firms try to forecast the likely demand for their products....

Indifference Curve Meaning, Nature, Assumptions, Properties and Limitations   Meaning and Nature of Indifference Curve The realms of consumer behavior were expanded to new horizons with the introduction of indifference curve analysis by J.R. Hicks and R.G.D. Allen. The crux of this analysis is that utility is ordinally measurable. From the above discussion on...

Word of the Day The better vocabulary we have, the easier we can describe our thoughts in a particular language. Moreover a good vocabulary is also helpful in entrance exams like SSC, Bank, CAT, IAS etc.  Vocabulary can’t be learnt or enriched overnight. You have to make a conscious and determined effort to improve. Learn a new word (or set of words)  every...

  List of Animal Sounds – English vocabulary The following is a list of sound words that denote animal sounds and bird cries. Animal Name of Sound Alligator Bellow, Hiss Apes Gibber Bats Screech Bears Growl Bees Hum, Buzz Beetle Drone Birds Chirrup, Chirp, Twitter, Tweet, Sing, Whistle Bulls Bellow Calves Bleat Camels Grunt Cats Meow, Mew, Purr, Caterwaul Cheetah Purr, Bleat, Bark, Growl, Hiss, Chirp Chickens Cluck, Cackle Chicks Cheep Chimpanzees Scream, Chatter Cobra Hiss, Rattle Cocks Crow Cows Moo,...

Outbreak of a new virus – 2019-nCoV Everything you need to know about Coronavirs About Coronavirus   Symptoms of Coronaviurs Source of Coronavirus Testing of Coronavirus Treatment of Coronavirus Vaccine of Coronavirus Global reported cases of Coronavirus India on Alert Prevention of Coronavirus         About Coronavirus (2019-nCoV) Novel...