Everything you need to know about the characteristics of business. Business refers to activities involving production or purchase and then sale of goods desired by the people, with the intention of earning profit. Even if the businessman is providing services such as internet connectivity or transfer of money from one place to another, such activities are termed business and not [...]
Essay on Global Warming: Causes, Effects, Impact and Prevention of Global Warming The following points highlight the top six characteristics of land. The characteristics are: 1. Fixed supply 2. Alternative uses 3. No cost of production 4. Differences in fertility 5. Operation of the law of diminishing returns 6. Mobility. Characteristic # 1. Fixed supply: The total land area of [...]
The following points highlight the eight main characteristics of a perfect competition. The characteristics are: 1. A Large Number of Buyers and Sellers 2. An Identical or a Homogeneous Product 3. No Individual Control Over the Market Supply and Price 4. No Buyers' Preferences 5. Perfect Knowledge 6. Perfect Mobility of Factors 7. Free Entry and Free Exit of Firms [...]