Monthly Archive: May 2016

B-Com Notes: Production and Factors Of Production 749

B-Com Notes: Production and Factors Of Production

Chapter # 7 PRODUCTION AND FACTORS OF PRODUCTION Creation of utility in a certain product or service as a result of which it commands a price in the market is known as production. It is still a common practice to talk of productive and non­ productive worker. Productive workers are...

Letter: A letter to your father about a life in a college hostel 248

Letter: A letter to your father about a life in a college hostel

A letter to your father about a life in a college hostel Room No 123 Govt College Lahore June 15, 2016 Dear Father,                 I received your letter yesterday. You have asked me to write you about a college hostel life. The first thing, in this regard is that a...

Letter: A letter to your father explaining the causes of your failure in the examination 908

Letter: A letter to your father explaining the causes of your failure in the examination

A letter to your father explaining the causes of your failure in the examination Room No 123 Govt College Lahore June 15, 2016 Dear Father,                 In explaining the causes of my failure in the examination, I am ashamed but there were two major reasons. No sooner did the test...

B-Com Notes: Supply  (Principles of Economics) 175

B-Com Notes: Supply (Principles of Economics)

Supply Supply is the quantity of output brought for sale in the market at a certain price. Difference between supply and stock Stock   is the quantity of output which a businessman has with him and has not yet been brought for sale. Supply is the quantity of output brought form...

B-Com Notes: Elasticity of Demand (Principal of Economics) 190

B-Com Notes: Elasticity of Demand (Principal of Economics)

Elasticity of Demand (Principal of Economics) The law of demand states that as the prices of consumer goods go up, the quality demanded for them will decrease, with other factors remaining the same. One shortcoming of this statement is that it does not explain as to how much of an...

B-Com Notes Demand (Principles of Economics) 146

B-Com Notes Demand (Principles of Economics)

DEMAND Demand is the power to purchase a product coupled with willingness to purchase it. If a consumer holds only one of them, then the meaning of demand does not hold. Take the case of a poor man; he may be willing to purchase expensive goods. But his willingness is...

B-Com Notes Consumption and Consumer’s Behavior 352

B-Com Notes Consumption and Consumer’s Behavior

THE IMPORTANCE OF CONSUMPTION: A BASE FOR ECONOMIC ACTIVITIES A BASE FOR PRODUCTION A BASE FOR FAIR DISTRIBUTION OF WEALTH A BASE FOR EFFICIENCY       1.   IT IS A BASE FOR ECONOMIC ACTIVITIES: A subset of economic activities, production, has four elements:­ land , labor, capital and...

B-Com Notes: Nature and Scope of Economics. 161

B-Com Notes: Nature and Scope of Economics.

Economics mean the wealth of Nations Wealth has four aspects:- Production of Wealth Exchange of Wealth Distribution of Wealth Consumption of Wealth The scope of Economics The use of the word ‘material ‘ by Marshall narrows the scope of Economic as we all need both the material and non­ material...

B-Com Notes: Principles of Economics B-Com 168

B-Com Notes: Principles of Economics B-Com

Economics is a science which studies the Economic life of the people living in a country or in the world.  [box type=”note” bg=”#” color=”#” border=”#” radius=”0″][/box]1.  Nature and Scope of Economics [box type=”note” bg=”#” color=”#” border=”#” radius=”0″][/box]2.  Consumption and Consumer’s Behavior [box type=”note” bg=”#” color=”#” border=”#” radius=”0″][/box]3.  Demand [box type=”note”...

Foreign Trade (Introduction to Business) 407

Foreign Trade (Introduction to Business)

Chapter 16 Foreign Trade The  buying  and  selling  of  goods  and  services  between  different  countries  is called  Foreign Trade. Visible trade The imports are purchases from other countries.  The exports,  pre sales to foreign countries. The re-export are imports from one country and export to another country.  The import and...