The socialist economy involves the abandonment of free voice to the individual at any rate as fundamental liberty, consumption, and production must fit into the central planning. The demerits present in the capitalist economy lead to the growth of the socialist economy. An essential feature of the law of socialism accumulations is that its operations are accompanied by the … [Read more...] about 15 Advantages and Disadvantages of Socialist Economy
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21 Advantages and Disadvantages of Capitalist Economy
The capitalist economy works on the profit motive. Non-interference by the government in the economic life of the economy made the capitalist economic system an unplanned economy. It is the oldest form of economic organization: The Industrial Revolution of England led to took place during the industrial revolution in England the birth of the capitalist economy to produce and … [Read more...] about 21 Advantages and Disadvantages of Capitalist Economy
Industrial Relations: Types, Needs and Importance (With Examples)
Industrial relations have their roots in the Industrial Revolutions, Which created the modern employment relationship by spawning free labor markets and large-scale industrial organizations with thousands of wage workers. Industrial relations have been used to refer to multilateral relations between employees, employers, and govt. Industrial relations have their roots … [Read more...] about Industrial Relations: Types, Needs and Importance (With Examples)
Social Injustice in Business Environment: Causes and Solutions
In addition to the problems of poverty, unemployment, regional imbalances, influence, and parallel economy, and industrial sickness; There is another important problem of economic development social injustice. Its main reason is that the developing countries have not made the sincere efforts required for the solution of the problem. Illiteracy, conservative attitude, … [Read more...] about Social Injustice in Business Environment: Causes and Solutions
8 Different Types of Branch Accounting (Explained)
Businesses often operate in multiple locations or branches, each functioning as a distinct unit with its own financial transactions and operations. This complexity gives rise to the necessity of effective branch accounting, a system that ensures accurate record-keeping, financial transparency, and efficient decision-making. Branch Accounts have for their purpose the … [Read more...] about 8 Different Types of Branch Accounting (Explained)