Is Management An Art or Science?
Is Management an Art or Science? Students always ask this question, Is management an Art or Science? In this article, we will consider some factors that classify management as an …
Definition Of Management
Definition of Management What you’ll learn. Definition of management Meaning of management by different authors, and different basis for their definition The nature and features of management. What do you …
Consumer Behaviour – Theory of Consumer Behaviour
Theory of Consumer Behaviour assumes that you can only order or arrange your preference in order of priority, you cannot quantify the level of your satisfaction. After reading this summary, …
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Law of Diminishing Marginal Utility
Generally, the more of a particular commodity human being possesses the less the intensity for more. Hence man’s subsequent unit, desire diminishes. The law of diminishing marginal utility was first …
Elasticity Of Demand – Types of Elasticities
Elasticity concepts generally deal with the response(s) of demand or supply to its determinant; in the course of our discussion of demand and supply, their determinants were discussed. The Elasticity …
Supply And Demand | Price Theory
The concept of price theory came into being as a concept of valuation, i.e. the medium through which values are attached to goods and services. The concept of price theory …
Basic Economic Problem
Scarcity | Choice | Opportunity Cost Three big questions summarise the scope of economics- How do choices end up determining what, how, and for whom goods and services are produced? …
Monetary Policy – Objectives of Monetary Policy
Monetary Policy Monetary policy refers to the combination of measures designed to control the supply of money and credits conditions in an economy for the purpose of achieving macroeconomic goals. …
Inventory Control Formulas and Terms +Video Guide
In this summary on Inventory Control, I will briefly explain the terminologies being used in this topic and also state their formulas in a way you can easily remember. NOTE: …
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Users of Accounting Information
Different people involved in one business or the other will be interested in the accounting information of such business organizations. The accountant needs to take cognizance of the fact that …
Accounting Concepts And Convention
Accounting Concepts And Convention Accounting concepts are broad working rules adopted by the accounting profession as guides for recording and reporting the affairs and activities of corporate organizations. In this …
Revenue Expenditure & Capital Expenditure
First of all, you can recollect from your daily activities that you incur expenditure on various items every day. You buy food items, stationery, cosmetics, furniture, etc. Some of them …