ECONOMICS

DIVISION OF LABOUR Division of labour is defined as the breaking down of a production process into a number of separate operations, whereby each operation is undertaken or performed by ...

Money is anything that is generally acceptable as a medium of exchange and in the settlement of debts. Money can also be defined as anything that is generally acceptable as ...

Inflation may be defined as a persistent rise in the general price level of goods and services. Inflation occurs when the volume of purchases is permanently running ahead of production, ...

Instrument of business finance also called Financial Instrument is a physical or electronic document that has intrinsic monetary value or transfers value. For example, cash is a financial instrument. Listed ...

Labour can be defined as all human efforts of any kind, either skilled or unskilled, mental or manual, directed towards the production of goods and services. Market on the other ...

Basic economic problems refer to the problems people encounter in the society while attempting to satisfy their numerous wants with the limited resources available to them. These basic economic problems ...

The subject Economics has no specific definition. It has been defined in many ways by various economists as a social science which studies human beings and their behaviour. Some of ...