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Articles on Trending Technologies
Technical articles with clear explanations and examples
Occupational Structure
Introduction Occupational structure refers to the framework of different occupations that build up the economy of a nation. Usually, in an economy, people are engaged in various professions in different proportions. All these professions make up the occupational structure of an economy. The occupational structure of different nations varies greatly in terms of professions. While developing nations like India have a considerable population engaged in agriculture, the share of technology and research is prevalent greatly in richer countries like the United States of America. Learning about the occupational structure of a country is important for various reasons. It shows whether ...
Read MoreOrganic Farming
Introduction: What is Organic Farming? Organic farming is an agricultural system based on ecologically based pest controls and biological fertilizers. These fertilizers used in organic farming are derived chiefly from animal and plant wastes and nitrogen fixation obtained by using special crops. Present- day organic farming is a response to the environmental harm caused by the use of chemical pesticides and synthetic fertilizers. These chemicals and harmful fertilizers were used largely in conventional agriculture previously, and replacing them has many ecological benefits. In comparison to conventional agriculture, organic farming utilizes less amount of pesticides, decreases nitrate from leaking into ...
Read MoreOutstanding Expenses
Introduction: What is an Outstanding Expense? Outstanding expense refers to expenses that have not been paid by a business yet. Usually, businesses do not pay all expenses when they incur them. Some expenditures are made at the end of the year or at some other decided time. These expenses are known as outstanding expenses. As is clear from the above note, outstanding expenses are liabilities that the business must pay at a given time. Businesses keep account of these expenses so that they can meet their expenses in due course of time. There are some select methods of keeping ...
Read MorePerfect Competition Defining Features
Introduction: What is Perfect Competition? The term perfect competition is attached to a market condition where − All companies sell similar or the same products There is no barrier for firms to enter the market. Market share of companies does not influence the price Buyers have complete, perfect, or full information Companies cannot determine prices. Simply said, perfect competition refers to a market where the prices are determined by mere demand and supply, and companies cannot determine the prices even if there is no entry barrier for new firms in the market. Perfect competition is more of a ...
Read MorePhysical Capital Vs Human Capital
Introduction Companies need money and/or assets to start a new venture or expand the existing one. These assets and money that a company owns are known as capital. No company can run successfully without capital. Money is needed in every business aspect while monetary and non-monetary assets help organizations run smoothly. Usually, the term capital is used to indicate physical assets, but nowadays, human capital is also realized as an essential asset for organizations. Human capital comprises the knowledge base and skills of the workforce. Although it is hard to measure human capital directly, the investments made in improving human ...
Read MorePhysical Distribution in Economics
Introduction In order to operate successfully businesses, need to move products, raw materials, and goods between factories, warehouses, and distribution centers. They also need to move or send finished products to the markets. These movements are broadly called physical distribution in economic terms. Physical distribution involves various channels, including wholesale and eCommerce, and contains components, such as inventory, customer service, materials, order processing, and transportation. Benefits of Physical Distribution Physical distribution plays an important role in modern business practices. Some of the important benefits of physical distribution include the following − Cost Cutting Physical distribution may help to reduce costs ...
Read MoreWhat is the full form of VAT?
What is VAT? The full form of VAT is Value Added Tax. The tax is levied on goods and services that are related to each stage of the supply chain. Here the value is added from the point the production of a product is started to the point where the product is sold. VAT has to be paid on the basis of the cost of the product minus the cost of materials used to manufacture the product. VAT is paid on the basis of consumption of a product and not the income. VAT is being used in 160 countries and ...
Read MoreAdvantages and Risks Associated with Preference Shares
Introduction: What are Preference Shares? There are two types of shares that are allowed investors to invest in – equity shares and preference shares. Equity and preference shares have some distinct differences and they appeal to different categories of investors. Although equity shares are more common in financial terminologies, preference shares are also liked by many investors. Preference shares are instruments that combine the characteristics of equity shares and debt securities. Like equity shares, they represent ownership of the issuing company and are traded in the stock market. On the other hand, they offer fixed dividends over a certain ...
Read MorePolicy Tools to Control Money Supply
Introduction: What is Monetary Policy? The monetary policy includes actions taken by the central bank of a nation to promote healthy economic growth. The focus of monetary policy may be on cash, ledgers, credit, mortgage, bonds, loans, cheques, etc. These policies are aimed to control the economy and are helpful in situations of inflation and deflation. Monetary policy is overseen by a board of members consisting of top-level managers of the central bank and government representatives. The monetary policy is regulated because without regulation it may head toward inflation or deflation. To regulate the money supply and thereby regulate the ...
Read MorePower Infrastructure and Generation
Introduction: What is Power? Power refers to the energy reserve of a nation that runs the industries and helps the nation achieve economic growth. Power is an inseparable part of all modern economies. No country can survive and grow without adequate power resources. Power resources can be divided into hydro, oil, gas, coal, nuclear, etc. It is important to note that the growth of modern economies is fully dependent on the availability of power as it is needed to run factories, vehicles, and other modes of transport and industries. Power is also needed in households where it helps run household ...
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