Category Economy

ROLE OF MANAGEMENT

                                                                    According to Henry Mintzberg in his book “the nature of managerial work “a manager fulfills 10 roles which can be categorized into 3 groups Interpersonal role Informational role Decisional role Interpersonal role Interpersonal roles include those roles that involve…

ROLE OF GOVERNMENT IN SOCIETY

In any type of economic system, the purpose of economic activity is to satisfy the material needs of that society and to improve the welfare of members of society.   People receive income, spend, save and invest.  Hence decisions must…

ECONOMIC SYSTEMS

                                                                American economist  Paul  A . Samuelson said that   every society needs to answer three fundamental questions when we look at the world we find that there are only a limited number of ways in which societies have set about…

The nature and scope of economics.

(i) Scope of economics Question; how does economics differ from other subjects? Economics involves the study of the problem of production, consumption, exchange and distribution of wealth as well as the determination of the values of goods and services. Besides,…