Primary/Standard Types of Auction In order to provide allocation for a single item, auctions are divided in following four traditional types: First-price sealed-bid auctions: These auctions are also known as blind auctions or sealed first-price auctions. The bids are kept secret until the result is declared. In this way, no bidder knows what amount the […]
Applied Economics is undoubtedly one of the most important subjects within the broader subject of economics. Applied economics refers to the branch which is associated with the applications of the economic principles and gives more light to the economic policies as a result. Applied Economics as a subject grew stronger only during the late 19th […]
About this Book Paul Collier is a faculty in Economics and presently working in the capacity of Director of Oxford University’s Center for the Study of African Economies and also he was previously the Director of the World Bank Development Research. He is the creator of many distinguished books to his credit viz., Wars, Guns […]
About this Book To many people, economics is as confusing as physics. Just as we use physics every day even if we don’t know its technical aspects, we all use economics on a daily basis even if we don’t know its technical aspects. Yet, unlike physics, introductory economics is not as difficult as it might […]
About this Book Bringing under consideration a significant time span, this brief history of economics is an ideal course for acquainting understudies with the field. This course represents how the thoughts of the considerable economics experts affected social orders along with themselves moulded by their social situation. Not does this course only discuss the history […]
About this Book Humankind has evolved in many ways. The basic reason for this evolution has been the non-stop urge for more. Innovation has helped humankind to facilitate living and increase the standard of living too. Capitalism has served the same purpose. It was by the way of capitalism that a major part of the […]
About this Book The world is interconnected through many links. One of the links is economic. The economies of the world are connected via trade and transactions. There is a huge number of transactions taking place on a daily basis between people belonging to different countries. Thus the world is in itself an economy. There […]
About this Book As most of the things in the world are scarce, the allocation of these scarce resources becomes very important. Economics, whether micro or macro, is needed because of this scarcity. Microeconomics deals with individuals and firms. Microeconomics can also be termed as the study of supply and demand. It assumes rational behavior […]
About this Book Applied Economics is a recent development in the subject of economics. By Applied Economics, the application part of any economic policy is to be considered without which an economic theory in itself would be rendered useless. Economic Theories are propounded every other day, but without a practical use to itself, the same […]
About this Book Accounting can be termed as the psychology of transactions. Psychology studies the behavior of the mind. To define accounting, one can refer it to be the study of money and its behavior in day to day lives. Money is essential for the survival of any being in modern times. It is a […]
About this Book The world is currently in a relatively peaceful state with billions of people living under a comfortable roof and feels warm enough during winter nights. Many do not suffer, but it is very possible for all these things to be flipped over in a matter of days. The economy and ‘peaceful’ nations […]
About this Book Economics is an important branch of studies that deal with the rules, principles, and laws governing the economy of a nation and different parts of the world. Economics is the study and an analysis of how individuals, businesses and populations use money or other resources in order to produce wealth. It is […]
About this Book A recession is a decline in economic activity for a period of at least half a year. The world has seen several recessions of varying degrees. Every part of the human inhabitable world has experienced a recession at a point of history. Compared to the underdeveloped and developing countries, the developed nations […]
About this Book Economics of any country determines the growth of the country. The subject is of utmost importance to know the exact status of a Nation in comparison to others, especially in the present globalized world. Both the branches namely, microeconomics and macroeconomics, has its own significance in compounding the economic conditions. Macroeconomics deals […]
About this Book Strategic agility has emerged as an important concept in today’s markets. Production processes are reformed with the help of strategic agility. Technology and innovation are used to develop new products and markets. Strategic agility is crucial to avail the first mover advantage in the market and getting the maximum share of the […]
About this Book Complexity is usually confused with the term complicated. There are many different elements, individuals and particles in a complex system that interact with each other. They also respond to the environments. These elements, individuals and particles are inter-genius in terms of the information, knowledge or otherwise. Interaction involves interchanging information and knowledge. […]
About this Book The concept of Managerial Economics is extremely urgent and vital to the field of economics. Also, the idea is state-of-the-art, and it has been used widely in almost all types of businesses. It is one of the three major divisions of economics, which is also very essential for the consumers. The Managerial […]
About this Book When the term ‘industrial revolution’ comes into mind, everything starts coming back from scratch. The Industry 4.0’ or the digitalization, took place in the economic industry for bringing a great transformation. The approach of the Industry 4.0 is simple and beneficial. The main purpose of the Industry 4.0 is to provide a […]
About this Book Sales refer to the process by the means of which the salesperson or the sales team is able to make revenue for itself on the basis of which the company is ranked positions in the market against its competitors. Sales are related to grasping people’s mind, understanding their needs and requirements that […]
About this Book Managerial accounting is considered one of the most important parts of any organization. With the help of this department, an organization or an enterprise can reach new levels of heights and successes. It is very helpful and beneficial for the progress of the business of any firm. There are many other departments […]