BUSINESS

Definition: A commission is a payment made to an agent or salesperson for services rendered in the course of business. It is typically a percentage of the total amount of the transaction. Types of Commissions: Flat commission: A fixed amount paid for each transaction, regardless of the size of the transaction. Percentage commission: A percentage […]

AGMARK AGMARK is a trademark symbol used in India to certify the quality and safety of agricultural products. It is administered by the Indian government under the Agricultural Products (Control and Regulation) Act, 1999. Purpose of AGMARK: Ensuring quality and safety: AGMARK certification guarantees that products meet specified quality standards and are safe for consumption. […]

The word “credo” is a Latin word that means “I believe.” Definition: Credo is a verb that means “I believe” or “I trust.” It is often used in formal or literary contexts. Example sentences: “I credo in the power of the human mind.” (Latin) “I believe in the importance of education.” “I don’t credo everything […]

Price discrimination is a pricing strategy that involves charging different prices for the same product or service to different groups of consumers based on their willingness to pay. Types of Price Discrimination: Explicit price discrimination: Charges different prices for the same product to different customers. Implicit price discrimination: Uses the same price for all customers, […]

Definition: The learning curve is a graphical representation that shows the relationship between the time or effort required to learn a new task or skill and the level of proficiency achieved at different points in time. Key Characteristics: Asymptotic: The learning curve approaches a limit, but never reaches it. Bell-shaped: The curve has a central […]

Modus Operandi (M.O.) Modus operandi (M.O.) refers to the specific methods, techniques, and procedures employed by an individual or group when committing a crime. It includes the tools, weapons, equipment, clothing, and other items used in the criminal act. Elements of M.O.: Target Selection: The specific criteria used to identify and select targets. Means of […]

Front Office The front office is the first point of contact for customers with a company. It is typically the area where customers interact with the company’s employees, make inquiries, and pay bills. Key Functions of the Front Office: Customer Service: Providing prompt and efficient customer service to address inquiries, complaints, and requests. Information Gathering: […]