Business

In macroeconomics, the focus is on the demand and supply of all goods and services produced by an economy. In macroeconomics, aggregate demand (AD) or domestic final demand…

Firm Offer is a definite offer to buy something at a fixed price. It is a kind of proposal, which is sure to hold firm…

Face Value The value as appeared on the face of the security is called face value. It is the value printed or depicted on a…

Ex-Warehouse The term is used in the price quotation of goods. The meaning of ‘ex-warehouse’ is out of or in front of the warehouse and…

Goodwill is the value of the reputation of a firm built over time with respect to the expected future profits over and above the normal…

The labor theory of value (LTV) is a theory of value that argues that the economic value of a good or service is determined by…

Optimal tax theory or the theory of optimal taxation is the study of designing and implementing a tax that maximises a social welfare function subject…

Economic surplus is the total of the producer surplus and the consumer surplus. In mainstream economics, economic surplus, also known as total welfare or Marshallian…

Deadweight loss is defined as the loss to society that is caused by price controls and taxes. A deadweight loss, also known as an excess…

Excise Duty is a tax that is designed to discourage the purchase of particular goods. It is an inland tax imposed on those products, ‘…

A Pigovian tax is a tax on any market activity that generates negative externalities (costs not included in the market price). It is a government…

Land Value Taxation is a method of raising public revenue by means of an annual charge on the rental value of the land. A location…