Resource
Production involves bringing together certain inputs – called factors of production or resources- to create goods and services i.e., the output. Resources are the ingredients necessary for producing goods and services, just as you cannot bake a cake without ingredients of flour, eggs, sugar, and so on. It is these resources that are scare and, [...]

To human the prime issue, as a biological being, is to maintain own life like any other animal or bird. By meeting some basic needs (like fresh air to breath, water to drink, foods for nutrition) this target is obtained. But, for human, as a social and civilized being, earning the livelihood doesn’t carry less [...]

Higher employment (or lower unemployment) rate is good indicator of the macro economic health of any country and that is desirable to any government, economic analyst, even to a commoner. But ‘employment’ is not an economic problem, rather the problem is ’scarcity of employment opportunity’ that is unemployment. So unemployment covers more economic discussion than [...]

Collective bargaining is the process of negotiation between representative of firms & workers for the purpose of establishing mutually agreeable condition of employment. The wage and fringe benefit of unionized workers are determined by collective bargaining.
In every free modern industrial society, trade unions are an accepted part of the industrial scene. Labour unions are complex [...]

The  lecture  is  still  the  most  frequently  used method   of   instruction.   However,   presenting   a lecture without pausing for interaction with trainees can be ineffective regardless of your skill as a speaker. The use of pauses during the lecture for direct oral questioning creates interaction between instructor and trainee.
Unfortunately, when classes  are  large,  the  instructor  cannot [...]

You will often find that many people confuse marketing with advertising or vice versa. While both components are important they are very different. Knowing the difference and doing your market research can put your company on the path to substantial growth.
Let’s start off by reviewing the formal definitions of each and then I’ll go into [...]