Characteristics of the socialistic economy

There are some important characteristics of the socialistic economy. These are – State ownership The main characteristics of the socialistic economy are the termination of private ownership of assets. There is private ownership over organization, land, and other materials of production. The state ownership is established overall assets of the …

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What are the Causes of inflation

What is Inflation? When the value of currency decrees against the regular price of the daily used products then it called Inflation. Inflation is a complex economical problem. There is the various reason for inflation. The major reasons are described below- Increased supply of money: The major reason for inflation …

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Disadvantages of Globalization

The original scenario of globalization is different. according to world economists,globalization is a part of capitalism. Globalization is the power of consumerism and aggression to the third world country. Underdeveloped and developing countries are suffering from fear of globalization. Some disadvantages are described below: Economic exploitation: Under the globalization process, …

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Arguments in favor of globalization:

The economist and sociologists in the western world are showing their strong logic in favor of globalization.  The advantages of globalization are described below: The free flow of product and service: The major positive side of globalization is free to flow goods and services among various countries in the world.   …

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Measures to control inflation          

The following measures are needed to take to control inflation and reduce goods prices. Increased production To reduce inflation, it is important to increase production in a country. Besides, the use of better quality seeds, fertilizer, and better water supply can increase production. The production in the industrial sector can …

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Effect of inflation on different classes of  people

There are various types of people live in our society. Inflation effects are not the same for all people in society. One party may damage due to inflation and the other party may gainer at this time. The effects of inflation on the people in the society are given below. …

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The effects of coronavirus pandemic on world economy | COVID-19 business impact

The effects of coronavirus pandemic on world economy : What did this COVID -19 bring to the global economy instead of progression? Stagnation ( L,U,V curve on economics type): It defines that a prolonged period of little or no growth in an economy . Besides, if the economic growth is …

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What is competitive intelligence and Why it is important for firms?

What is competitive intelligence? Competitive intelligence is the way of collecting information on the business environment, competitors, competitive products and services, and overall business industry. In short,  Competitive intelligence is a way of identifying competitive gaps between two competitors.   Is Competitive intelligence gather ethical? Yes.  Competitive practices are ethical and legal …

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