• PRINCIPLES OF DEMAND
    AGRICULTURAL SCIENCE

    PRINCIPLES OF DEMAND

    In order to know how a market economy works and how resources are allocated in an economic system, it is very important to understand what determines the demand and supply of goods and services.   DEMAND Demand may be defined as the quantity of goods a consumer is willing and ready to buy at a given price over a given period of time. It is also defined as the ability and willingness to buy specific quantities of goods or services at alternative prices, over a given period of time. When a consumer’s demand is backed up by the necessary ability and willingness to pay, it is said to be effective…

  • PURCHASE, SUPPLIES AND MERCHANDISING OF GOODS AND SERVICES
    MARKETING

    PURCHASE, SUPPLIES AND MERCHANDISING OF GOODS AND SERVICES

    Marketing business is all about purchasing goods from manufacturer and making them available to consumers. Marketing outlet exist to bridge the gap between the manufacturer and the consumer by providing total marketing solutions to their clients. They purchase goods from manufacturers or producers such as manufacturers of beverages, dairy and eggs, food additives and chemicals, grains and cereals, meat, poultry and seafood, fruits, nuts, and vegetables, cosmetics, makeup and perfumes, underwears, tooth brush and tooth paste, photo printing machines, t-shirt, trousers, fabrics, cigarette and cigar, detergent, toilet soap, tooth paste, medicated soap, etc and supply them to the retailer or the final consumer.   SELLING AND BARGAINING SKILLS Bargaining is…

  • INFLATION AND DEFLATION
    ECONOMICS

    INFLATION AND DEFLATION

    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, with too much money in circulation chasing too few goods.   TYPES OF INFLATION There are four main types of inflation. These are: Demand-pull inflation: Demand pull inflation occurs when consumers have high purchasing power, leading to increases in aggregate demand without a corresponding increase in supply. In other words, this inflation occurs when the demand for goods and services is greater than their supply. The factors responsible for this type of inflation may be due to population increase; increase…

  • INTERNATIONAL MARKETING
    MARKETING

    INTERNATIONAL MARKETING

    At its simplest level, international marketing involves the firm in making one or more marketing mix decisions across national boundaries. It is the total system of business activities designed to plan, price, promote and distribute goods and services to potential foreign customers. It is the act of marketing goods and services of a country in another country. At one extreme, there are firms that opt for ‘international marketing’ simply by signing a distribution agreement with a foreign agent who then takes on the responsibility for pricing, promotion, distribution and market development. the other extreme, there are huge global companies such as Ford with an integrated network of manufacturing plants worldwide…

  • WAREHOUSING
    MARKETING

    WAREHOUSING

    We need different types of goods in our day-to-day life. We may buy some of these items in bulk and store them in our house. Similarly, businessmen also need a variety of goods for their use. Some of them may not be available all the time. But, they need those items throughout the year without any break. Take the example of a sugar factory. It needs sugarcane as raw material for the production of sugar. You know that sugarcane is produced during a particular period of the year. Since sugar production takes place throughout the year, there is a need to supply sugarcane continuously. But how is it possible? Here…

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