Category: Economics Study Notes

Meaning of market Market refers to a situation where buyers and sellers are in close contact exchanging goods and services and the price of the commodity is...

–Marketing: refers to making communication about products or services. A purpose of which is to endistribution tries to identify the role played by cooperatives, crop authority, board,...

Population refers to a group of people living in a particular geographical area at a specific period of time. Population size refers to the total number of...

Generally, the subject matter tells us about what we study in Economics. However for the sake of conveniences, economics is concerned with the following:        1. It...

         Introduction Economic plan is the set of goals/objectives that a person/government intends to achieve within a specified period. Economic planning is the process of organizing available...

      –  Is the trade taking place between two or more countries. Bilateral trade – Is the trade taking place between two countries Multilateral trade...

Production is the process of creating utility. In production there are four types of utilities which are form utility, time utility, place utility and possession utility. To...

Demand refers to quantity of the goods and services consumers are able and willing to purchase at the prevailing price in a given period of time. According...

Economic growth is the quantitative increase in national income produced in an economy.OR Economic growth is the increase in the market value of the goods  and services...

CONCEPT OF ECONOMIC INTEGRATION: Economic integration is the union of countries which has common objectives and agreed to cooperate in order to create collective bargaining so as...