The Balance of payments (BOP) country is a record of all ‘Economic Transactions’ between the residents of the country and the residents of other countries. The balance of payments is a comprehensive and systematic record of all economic transactions, between the residents of a country and the rest of the world. The balance of payments is merely a way of listing … [Read more...] about What is Format of Balance of Payment (With Examples)
Managerial Economics
11 Key Advantages and Disadvantages of Mixed Economy
A mixed economic system is a system in which the public sector and private sector are allotted their respective roles in promoting the economic welfare of all sections of the community. A mixed economy may be defined as a system of Mixed private and governmentally owned or controlled enterprises, it is one in which business activities are carried on with numerous business … [Read more...] about 11 Key Advantages and Disadvantages of Mixed Economy
15 Advantages and Disadvantages of Socialist Economy
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
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)