INSURANCE AND BANKING
Demand Forecasting Forecasting is important for business planning. Demand forecasting means predicting the future demand for a product. The success of a business manager depends on how accurately he can predict the future demand...
Determinants of Demand We know that the demand for any commodity depends on the desire, consent and ability to pay the price. The desire to purchase depends on the preferences and interests of the...
Exceptions to the Law of Demand Exceptions to the Law of Demand refer to those circumstances and reasons in which this law does not apply. In other words, there are certain circumstances in which...
Assumptions of the Law of Demand The Law of Demand If other things remain constant’ is an important clause of the law of demand. This clause means that the law will apply if certain...
Law of Demand The law of demand is one of the fundamental laws of economics. The law of demand explains the relationship between the price and demand of a commodity. It is a matter...
Types of demand (i) Demand for consumer goods and producer goods- Consumer goods are those final goods which directly satisfy the needs of the consumer. Such goods are: bread, milk, clothes, furniture etc. Capital...
Theory and Nature of Demand The theory of demand plays an important role in business decision making. In every business firm, there are many issues on which the executives have to take decisions such...
Determination of profits under perfect competition – Modern profit theory Selling Powers of Perfect Competition – Modern Profit Theory Profit is demanded like the reward of any other factor-service and the power of the...
Marginal Productivity Theory of Profit- Like any other factor, an attempt has been made to explain the determination of remuneration of an entrepreneur in terms of his marginal revenue productivity. Angsworth, Chapman, Stigler and...
Shackle’s Profit Theory Professor Shackle has extended Prof. Knight’s theory by introducing expectations under conditions of uncertainty. According to Shackle, expectations are of two types: general and specific. General expectations relate to general variables...