What is Tariff? Types, Example, Importance, PDF
A tariff is a tax on imported goods and services to influence trade relations, generate revenue, or protect domestic industries.
What is Balance of Payments? Meaning, Types, PDF
The Balance of Payments (BoP) is a record of all economic transactions between a country and the rest of the world over a specific period, including trade, investments, and financial transfers.
What is Balance of Trade (BOT)?
The Balance of Trade (BoT) is a fundamental economic indicator that measures the difference between a country’s exports and imports over a given period.
What is Product differentiation? Importance, Types, Strategy, PDF
Product differentiation is a process businesses use to distinguish a product or service from other similar ones available in the market.
What is Product Management? Roles, Responsibilities, Skill required, Process
Product management is a dynamic and multifaceted discipline at the intersection of business strategy, user experience, and technology. It involves guiding a product from conception to launch and ensuring its success throughout its lifecycle.
Revenue vs Profit | Difference between Profit & Revenue
Revenue vs profit: Profit and revenue are both exceptionally solid marks of a business’s monetary prosperity. Since one uses both, it is crucial to understand their difference to precisely manage an organisation’s funds and make an adequate financial plan.
What is Market segmentation? Types, Importance, Examples
In today’s competitive business landscape, understanding your audience is key to creating truly resonating products, services, and marketing strategies. Market segmentation is a way of aggregating prospective buyers into groups or segments based on demographics, geography, behaviour, or psychographic factors to better understand and market to them. This targeted approach not only improves customer satisfaction but … Read more
Microeconomics: Principles, Applications, Uses, Importance, PDF
Microeconomics is a branch of economics that examines how individuals and firms make decisions about allocating scarce resources. In contrast to macroeconomics, which looks at the economy as a whole, microeconomics focuses on the individual elements of the economic system.
Turnover vs. Revenue- Types, Example, Calculation, and Detailed Comparison Table [PDF Inside]
Business turnover, also known as sales revenue, is the total income a company generates from selling its products or services. It’s a key metric used to assess a company’s financial health and performance.
Depreciation: Methods, Cause, Taxes, Schedule, Units of Production
Depreciation is the gradual reduction in the value of an asset over time because of wear and tear, obsolescence, or other factors. It’s a financial accounting concept that reflects the economic reality that assets ultimately lose their usefulness or become less valuable.