ECONOMICS

The Pareto principle, also known as the 80-20 rule, is an observation that applies to a wide range of situations. It states that roughly 80% of the effects of an action or system come from 20% of its causes or components. Here’s a breakdown of the principle: 80% effect from 20% causes: 20% of the […]

Real Income Real income is a measure of economic well-being that adjusts for inflation. It is calculated by dividing nominal income by the Consumer Price Index (CPI) or the cost-of-living index for a particular country. Formula: Real Income = Nominal Income / CPI Explanation: Nominal income: The total amount of money earned by an individual […]

Definition: Demography is the study of human populations, including their size, composition, distribution, and changes over time. It encompasses a wide range of topics, including: Key Concepts: Population: A group of living organisms of the same species in a particular area. Demography: The study of human populations. Fertility: The number of births per unit time. […]

A monopoly is a situation in which a single company controls the majority of the market for a particular product or service. This company is able to dictate the prices of its products, extract excess profits from its customers, and have significant control over its competitors. Key characteristics of a monopoly: Control over majority of […]

Social justice is a concept that emphasizes fairness, equality, and respect for all individuals and groups. It involves addressing the systemic inequalities that perpetuate injustice and marginalization. Key principles of social justice: Equality: Treating all people with the same respect, regardless of their race, gender, sexual orientation, social status, or other factors. Fairness: Ensuring that […]

Scalability Scalability is the ability of a system to handle a growing amount of data and users with minimal degradation in performance and reliability. It refers to the system’s ability to scale its resources and capacity to meet increasing demands without compromising its core functionality. Key Factors Affecting Scalability: 1. Architecture:– Modular and distributed architectures […]

The word “uptick” is an idiom meaning a period of time in which the market or the value of something rises. Example: The stock market is experiencing an uptick, with the Dow Jones Industrial Average rising to a new high. Synonyms: Rise Increase Ascent Climb Antonyms: Downtick Decline Fall Trough

Monopolistc Competition Monopolistc competition is a type of market competition in which there are a few large firms that control a majority of the market share. These firms have the ability to set their own prices and control the flow of goods and services into the market. Key Features of Monopolistc Competition: Few large firms: […]

Definition: Commerce, also known as trade, is the exchange of goods, services, and ideas between individuals, businesses, and nations. It encompasses all activities related to the production, distribution, and consumption of products and services. Types of Commerce: Retail: Sale of goods and services to consumers. Wholesale: Sale of goods and services to businesses. Manufacturing: Production […]

Capital Adequacy Ratio (CAR) The capital adequacy ratio (CAR) is a measure of a bank’s ability to absorb losses in a stressful financial environment. It is a key liquidity ratio that measures the amount of capital a bank has relative to its total assets. Formula: Capital Adequacy Ratio (CAR) = Tier 1 Capital/Total Assets Components […]