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Production Possibility Curve
Production possibility curve is a curve which depicts all possible combinations of two goods which an economy can produce with available technology and with full and efficient use of its given resources. Resources to...
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Basic methods of price determination
Following points must be taken into consideration before fixing the price of a product. Costs Competition Demand Legal Considerations Elements of Marketing Mix etc. However, major determinants of price are -...
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Factors affecting price determination
Following are the important factors that affect the price of a product or services: 1. Product Costs 2. Value of the product to the buyer 3. Legal Considerations 4. Competition 5. Other elements of marketing....
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Role and importance of pricing
Pricing is an important aspect of Marketing. So it needs to be done carefully. That is why organizations formulate pricing policies and strategies to fix the price of their products. Pricing affect the sales as well...
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Definition and scope of accounting
Different authorities defined the subject of ‘Accounting’ in different ways. So it is difficult to define the subject through a single definition. Let us look at some of the prominent definitions: American...
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Meaning and Functions of an Economy
As per Professor A G Brown, "Economy is a system by which people get their living." Just like a machine, made up different parts that perform specific functions, an economy is made up of a system which has different...
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The Meaning and Importance of Macroeconomics
Learn about how the theory of macroeconomics started, what it is, and why it's important.
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Concept of Intermediate Product and Final Product in economics
It is important for you to understand the meaning of the terms "intermediate products" and "final product". Intermediate products: Some of the final products of a production unit could be the raw materials for another...
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ABC Analysis - Technique of Inventory Control
ABC analysis is a type of analysis of material dividing in three groups called A-group items, B-Group items and C-group items For the purpose of exercising control over materials. Manufacturing concerns find it useful...
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Material Control/Material Management
Material control or Material Management plays an important role in controlling the cost of production. Strict control over cost of material will increase profit as well as reduce the cost of production. Therefore, it...
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Methods of Costing and Types of Costing
Learn about the various methods and types of costing.
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Role, duties and responsibilities of an Officer supervisor and office manager
Role, duties and responsibilities of a Office supervisor and office manager The office manager normally is the head of the office and is in charge of general administration of the office. The manager in addition...
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What is Correspondence, Methods of Dictation
Correspondence covers many types of written communication like reports, circulaers, letters, memoranda, telegram, notes, facsimiles, cables, postcards, email etc. But the term is commonly used to mean communication...
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The Effects of Inflation
Inflation is not considered bad so long as it creates additional employment to the factors of production. It becomes bad the moment it goes out of control. Inflation may be compared to a robber. It deprives the...
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Evils of Money
Invention of money has not proved to be an unmixed blessing as its use has become a source of so many evils too. If money is not used properly, it can create havoc and may prove to be disastrous for the mankind. ...
- 2
Definitions of Money, What is money?
Different economists have given different definitions of money. Let us see what are the definitions given by some of the well known economists. "In order for anything to be classed as money, it must be accepted fairly...
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Financial Administration
Finance is the life blood of very business. As personnel and materials which are necessary for the functioning of any office, industry, enterprise can be made available through money. Hence, finance plays an important...
- 11
What are the qualities of a good salesperson
What are the qualities of a good salesperson. Different types of selling situations require different qualities in salespeople. However, some common qualities are required in all types of sales jobs, but the extent...
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Logistical and transactional Functions of Channels of Distribution
Functions of Channels of Distribution. Functions performed by Channels of distribution can be categorized in to three main groups. They are: 1. Transactional Functions. 2. Logistical Functions. 3. ...
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Meaning and importance of Promotion in marketing
Communication plays an important role in marketing. Communication perform the function of informing the target customer about the nature and type of the firm's product and services, their unique benefits, uses and...
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importance of Marketing concepts in business enterprises
Business enterprises are conducting their marketing activities under the following five marketing concepts. 1. Product Concept 2. Production Concept 3. Selling Concept 4. Marketing Concept 5. Societal Concept ...
- 10
Profit and Loss Account
As per companies Act, 1956 there no prescribed performa for the preparation of Profit and Loss Account. But the information and particulars are to be present in the Profit and Loss Account are laid down in Schedule VI...
- 20
Essentials of a valid Contract of Sale, Elements of a valid contract
Some essential elements are to be present in a contract which makes the contract of sale valid. If, the essential elements are missing, then the contract of sale will not be valid. For example, Ram agrees to sell...
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Meaning and Definition of vouching
Vouching of cash transactions After preparing Audit note book, audit planning, auditing working papers, audit preparations etc., the next step is to proceed with the examination of accounting entries passed in the...
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Objectives of Audit auditing
For a better understanding we could classify the objective of audit as: 1. Primary Objectives 2. Secondary Objectives. Primary Objectives: To determine and judge the reliability of the financial statement and...
- 35
Advantages of Auditing audit
Advantages of Auditing It is compulsory for all the organizations registered under the companies act must be audited. There are advantages in auditing the accounts even when there is no legal obligation for doing...
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Definition of Auditing
The word 'Audit' is originated from the Latin word 'audire' which means 'to hear'. In the earlier days, whenever there is suspected fraud in a business organization, the owner of the business would appoint a person...
- 9
origin of auditing and oregin of audit
From the time of ancient Egyptians, Greeks and Romans, the practice of auditing the accounts of public institutions existed. Checking clerks were appointed in those days to check the public accounts. To locate frauds...
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Meaning and definition of Statistics
Statistics is an old discipline, as old as the human activity. Its utility has been increasing as the ages goes by. In the olden days it was used in the administrative departments of the states and the scope was...
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I am ambitious and hopeful for a better tomorrow. My activities with hub pages are a stepping stone towards reaching my goal of financial independence. On my journey, many good friends have encouraged, helped and guided me to become financially independent. I take this opportunity to thank you all for your kind help and guidance.
May God Bless you all.
Please note I am open to all possibilities of being financially independent. I am enthusiastic about it. If you would like to follow me, it would be my pleasure and privilege.
Wish and pray for me so that I may reach my goal at the earliest. 2011 was very good for me. Looking forward to a better 2012
Wish you all success and happiness in your life.