Finance

Product Differentiation and Price Discrimination are distinct concepts in economics and marketing, although both relate to how companies strategize to maximize profits. Here’s a breakdown of their key differences: 1. Product Differentiation Definition: Refers to the process of making a product or service stand out from competitors by emphasizing unique features, quality, design, or other … Read more

The distinction between positive economics and normative economics lies in their approach and focus: 1. Positive Economics Definition: Describes and analyzes economic phenomena as they are, based on observable facts and data. It focuses on objective statements that can be tested and validated or falsified. Nature: Objective and fact-based. Examples: “An increase in the minimum … Read more

A financial system is a network of institutions, markets, instruments, and regulations that facilitates the exchange of financial resources between individuals, businesses, and governments. It plays a critical role in the functioning of an economy by enabling efficient allocation of resources, mobilizing savings, and facilitating investment and consumption. Key Components of a Financial System: Financial … Read more