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Minimum Wage is fixed by legal authority or by contract as the least that may be paid either to employed persons generally or to a…

This article describe about Income Tax, which is annual charge levied on both earned income; wages, salaries, commission and unearned income; dividends, interest, rents. It…

Depression in Economics is actually described as a more severe form of a recession that leads to extended unemployment, a spike in credit defaults, broad…

Terms of Trade actually used to help determine how healthy a country’s economy is, can lead analysts to draw the wrong conclusions. It can also…

Consumption in Economics is the process in which the substance of a thing is completely destroyed, used up, or incorporated or transformed into something else.…

Collective Action occurs when a number of people work together to achieve some common objective. It has long been recognized that individuals often fail to…

Business Cycle is basically defined in terms of periods of expansion or recession. It is the downward and upward movement of gross domestic product (GDP)…

Open Economy is one that engages in international exchange of goods, services, and investments. It is mostly free from trade barriers and where exports and…

Natural Economy is an economic system, which is directly opposed to financial currency, or the currency that focuses on finances, money, profit and trade. It…

Socioeconomics is a field of study that examines social and economic factors to better understand how the combination of both influences something. It is relating…

Management by Objectives is a personnel management technique where managers and employees work together to set, record and monitor goals for a specific period of…

Enterprise Modelling is related to the value of visuals in planning. It is a term for the modeling of various processes, infrastructures, asset groups, or…