Notes

Money The Historical Background of Money Expalin the historical background of money Commerce plays a fundamental role in the satisfaction of human wants. In primitive societies, the producers themselves were the consumers. Hence; they were compelled to provide themselves with…

Marketing Meaning of the Term Market from “Marketing” Define the term “market” from “marketing” Marketing are activities of a company associated with buying and selling a product or service. It includes advertising, selling and delivering products to people. People who…

Stock Administration Meaning of the Term Administration Define the term stock administration Are the overseeing and controlling of the ordering, storage and use of components that a company will use in the production of the items it will sell as…

Ware-housing Management Meaning of the Terms Ware-housing and Ware-house Define the terms ware-housing and ware-house Warehousing is the institutional arrangement for the storage of goods i.e. receiving, storing and dispatching the goods to the uses. It is a very important aids…

Wholesale Trade Meaning of Wholesale Trade Define wholesale trade Wholesale trade is a form of trade in which goods are purchased and stored in large quantities and sold, in batches of a designated quantity, to resellers, professional users or groups, but not to…

Retail Trade Meaning of Retail Trade Define Retail Trade Retail trade is the sale of goods in small quantities to consumers. OR is a business activity involving buying goods and retailing them to ultimate consumers without changing the physical and…

Theory of Supply Explain the meaning of supply What Is Supply? In economics, we have two forces: the producer, who makes things, and the consumer, who buys them. Supply is the producer’s willingness and ability to supply a given good at various…

Theory of Demand Meaning of Demand Define demand Demand is willingness (desire) and the ability to buy a certain quantity of a commodity at the going price at a specific period of time. Condition for effective Demand Demand Schedule and…