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Domestic Territory & Normal Residents

Under national income, the concept of domestic territory and normal residents is crucial. Students get identification questions on this topic and are asked to provide the reasoning of the same.…

Functions & Importance of Statistics in Economics

Let’s understand the functions & importance of statistics in economics. But before that, you can revise the introduction to the statistics post once. Then you can read about the functions…

Packaging as an Element of the Marketing Mix

Packaging refers to the act of designing and producing the container or wrapper of a product. In this post, I will be discussing packaging as an element of the marketing…

The Relation Between TC, TVC & TFC

Hi, today I will explain the relation between TC, TVC & TFC. It will be highly beneficial if you read my post on Total cost, Total variable cost, and total…

Introduction to Statistics

Statistics play an important role in economics. Statistics mean quantitative information on facts and findings. In Singular sense, statistics may be defined as the collection, organization, presentation, analysis, and interpretation…

GDP and Welfare

GDP is considered as an index of the welfare of the people. Welfare means the sense of material well being among the people. So, higher GDP indicates the greater welfare…

Marketing Mix: Product

The marketing mix involves creating a market offering to satisfy the needs and wants of the existing and potential customers. You can read a brief about the marketing mix. There…

Marketing Mix

Marketing mix involves creating a market offering to satisfy the needs of existing and potential customers. To create a market offering a business needs to take various crucial decisions like…

Total Cost, Total Fixed Cost, and Total Variable Cost

To understand the concept of the total cost, total fixed cost, and total variable cost, we will start with the meaning of cost, cost of production, and so on. I…

Worksheet – Development Experience of India, China, and Pakistan

Attempt this worksheet after revising the development experience of India, China, and Pakistan and the Development path of Pakistan. Go ahead, you can do it. Good luck! Worksheet 1. Why…

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