ECONOMY
Market Penetration
Market penetration is a marketing strategy that focuses on increasing the market share of a company’s products or services in a particular market. This is achieved by targeting existing customers and potential customers within that market. Key elements of market penetration: 1. Customer targeting: Identifying and understanding the specific customer segments within the target market.2. […]
Sterilisation
Sure, here’s an explanation of sterilisation: Sterilisation: Sterilisation is a process that destroys all living organisms, including bacteria, viruses, fungi, and protozoa, on a surface or object. It is a highly effective way to disinfect and prevent the growth of harmful organisms. The process involves employing physical, chemical, or even radiation techniques to eliminate all […]
Cease And Desist
Meaning: Cease and desist is a legal phrase that means to stop and refrain from doing a particular act or activity. It is a legal order that prohibits a person or group from continuing a certain action. Legal basis: Cease and desist orders are based on the principle of prohibiting harmful or offensive actions. They […]
Ilo,International Labour Organisation
The International Labour Organization (ILO) is a United Nations agency that sets international labour standards and promotes decent work for all. It has 187 member states and is the leading international organization in the field of labor standards. Key Functions: Setting Labour Standards: The ILO develops and enforces international labor standards on a wide range […]
Law Of Supply
Definition: The law of supply is a fundamental economic principle that states that the quantity of a good or service that producers are willing to offer for sale at a given price will increase as the price increases, and decrease as the price decreases. Key Principles: Quantity Offered: The quantity of a good or service […]
Gdp Deflator
The GDP deflator is a measure of inflation that measures the overall change in prices in a country’s economy. It is calculated by dividing GDP price index by GDP deflator. The GDP deflator is a key indicator of inflation and is used by central banks to control inflation. The GDP deflator is important because it […]
Fiat Money
Fiat Money Fiat money is a type of money that is not backed by a physical commodity, such as gold or silver. Instead, it is backed by the government’s authority and its promise to redeem it for its face value. Fiat money is also commonly known as “paper money.” Examples of Fiat Money: U.S. dollar […]
Financial Sector
Definition: The financial sector is a group of industries that provide financial services to individuals and businesses. It includes a wide range of institutions, such as banks, credit unions, insurance companies, and investment firms. Major Components: Banking: Deposits, loans, payments, wire transfers, and other services. Insurance: Protection against loss or damage. Investment banking: Advising companies […]
Giffen Goods
A Giffen good is a type of good that exhibits the paradoxical behavior of increasing in demand when its price increases. This seemingly paradoxical behavior occurs because the good is so cheap that even a proportionally large increase in its price does not significantly impact its affordability for the majority of consumers. Instead, the increase […]
Ppp – Purchasing Power Parity
Purchasing Power Parity (PPP) is a macroeconomic theory that relates the prices of goods and services in different countries to their relative purchasing power parity. Key Concepts: Purchasing Power Parity (PPP) is a theory that the prices of identical goods and services in different countries should be equal after adjusting for the differences in cost […]
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