Capitalism economy is a system of the economic organization featured by the private ownership and use for the private profit of man-made and nature-made the capital. There is private ownership of the means of production and distribution which are used for earning maximum profits according to the competition available. The existence of the capitalism economy had been … [Read more...] about 15 Characteristics of Capitalism Economy (With Examples)
Managerial Economics
13 Characteristics of Socialism Economy (With Examples)
Socialism is an economic system where the means of production are either owned and managed by the state maximum social benefits is the central idea of socialism. Socialism is an economic organization of society in which the material, means of production are owned by the whole community according to a general economic plan, all members being entitled to benefits from the … [Read more...] about 13 Characteristics of Socialism Economy (With Examples)
17 Scope and Importance of Macroeconomics (With Examples)
Macroeconomics scope is wide and it studies the economic variable affecting the economy as a whole and other economies as well. Macroeconomic is called income and Employment analysis. It studies the effective demand and income, employment, investment economic variables. Scope of Macroeconomics The scope of macroeconomics is very wide following points can be studied … [Read more...] about 17 Scope and Importance of Macroeconomics (With Examples)
15 Importance and Limitations of Microeconomics (Explained)
The importance of microeconomics in the modern economic system is limited because it provides a solution to individual problems only. Its scope of the study is limited and it is a part of the macroeconomic analysis From the above discussion, it is clear that microeconomics is an important branch of economic analysis. Importance of Microeconomics Following are the major … [Read more...] about 15 Importance and Limitations of Microeconomics (Explained)
11 Role and Importance of Management in Society (Explained)
Management is an indispensable element for the establishment of proper functioning and success of all organization's social, political, religious, charitable or business units. If effectively and efficiently organizes and utilizes the human and non-human resources and directs them towards the accomplishment of organizational goals. The importance of management in … [Read more...] about 11 Role and Importance of Management in Society (Explained)
