Economics (Page 2)

National Income is a measure of the money value of goods and services becoming available to a nation from economicRead More →

The compilation of national income statistics is a very laborious task.  The total wealth of a nation has to beRead More →

National Income is a measure of the money value of goods and services becoming available to a nation from economicRead More →

Oligopoly refers to the market structure that is dominated by large few firms. The number of sellers (firms) is smallRead More →

Most markets have neither the single seller required to meet the definition of a pure monopolist nor the large numberRead More →

A monopoly is a type of market structure having many buyers and one seller selling a product which has noRead More →

Perfect competition refers to a market where many buyers and sellers are selling homogeneous/ identical products. It is common inRead More →

Delocalization of firms refers to establishment of firms in different parts of country as opposed to localization where firms areRead More →

Localization of firms means the concentration of similar firms in one particular area or region. Firms in the same industryRead More →

The location of the firm refers to the selection of a place where the proposed firm would be established. ThisRead More →

Economies of Scale Economies of scale are the benefits or advantages that accrue to a firm by virtue of itsRead More →