What Is Cardinal Utility Approach? Cardinal utility approach is propounded by neo-classical economists and is based on the assumption that the satisfaction or utility derived from consumption of a particular good and service is measurable and can be expressed cardinally or in absolute numbers. The concept Cardinal utility approach to consumer behavior was first pioneered … Read more
What Is Inbound Logistics? Inbound logistics refers to the network that brings goods or material to the business. Inbound logistic network includes everything you need to transport, store and deliver goods to your business from the supplier. The actual products that come into your business depend on the nature of your business. Inbound logistics can … Read more
Price elasticity of demand is a measure of the change in quantity demanded or purchased of a product in relation to its price change. It may also be defined as the ratio of the percentage change in quantity demanded to the percentage change in price of particular commodity. There are two major types of elasticity … Read more
What Is Forward Logistics? Forward logistics entails the flow of products from a manufacturing plant to the consumer. The different types of forward supply chain management include direct order fulfillment, hub services, pick-and-pack services and shipping. Forward logistics are used to manage the forward movement of goods from raw materials to the consumer. Value is … Read more
What Is Private Equity (PE)? Private equity (PE) are those investments that are made in companies that are not listed publicly on any stock exchange or simple it refers to investment in shares outside a stock exchange. As a source of investment capital, private equity comes from high-net-worth individuals and firms that purchase stakes in … Read more
What Is Balance Of Trade (BoT)? The balance of trade also referred to as commercial balance is the difference between the monetary value of a nation’s exports and imports over a certain period of time. The balance of trade figures shows whether the country had achieved to sell locally produced goods and services to foreign … Read more
What is an asset? An asset refers to any resource that a company owns or controls and that can be used to generate economic value. These resources can take many forms, including physical objects like buildings, land, machinery, and equipment, as well as intangible items like patents, copyrights, trademarks, and goodwill. Assets are essential to … Read more
Understanding needs and wants is a cornerstone of personal finance and sound decision-making. In a world brimming with endless temptations and ever-changing desires, it becomes imperative to discern between what we truly require for sustenance and fulfillment and what merely allures us momentarily. This article looks into the difference between needs and wants, shedding light … Read more
What Is One-Way ANOVA? One-way analysis of variance (abbreviated one-way ANOVA) is a technique that can be used to compare means of two or more samples (using the F distribution). This technique can be used only for numerical response data, the “Y”, usually one variable, and numerical or (usually) categorical input data, the “X”, always one variable, hence “one-way”. … Read more
What Is Microenvironment? Micro environment refers to the environment which is in direct contact with company and affects the routine activities of business straight away. It is a collection of forces or factors that are close to the organization and can influence the performance as well as the day to day activities of the firm. … Read more