Domestic vs International Business Trade is the buying and selling of goods and services. Trade may occur within domestic borders or among countries internationally. In today’s modern world companies generally trade in local and international markets so as to increase the market size to which products and services can be offered. Local firms also […]
Difference Between Neoliberalism and Capitalism
Neoliberalism vs Capitalism Capitalism is a social and economic system that is prevalent in most parts of the world excluding socialist and communist countries. It is a system that encourages private ownership and entrepreneurship and does not find fault with the motive or profit making. It is a market that is not regulated by […]
Difference Between Free Trade and Free Market
Free Trade vs Free Market Free markets and free trade are terms that are widely used in the modern concepts of economics. Free trade and free markets are generally perceived as beneficial to economies, to promote efficiency, improve innovation, and encourage healthy competition. There are, however, quite a number of differences between the two; […]
Difference Between Aggregate Demand and Aggregate Supply
Aggregate Demand vs Aggregate Supply Aggregate demand and aggregate supply are important concepts in the study of economics that are used to determine the macroeconomic health of a country. Changes in unemployment, inflation, national income, government spending, and GDP can influence both aggregate demand and supply. Aggregate demand and aggregate supply are closely related […]
Difference Between Diminishing Returns and Diseconomies of Scale
Diminishing Returns vs Diseconomies of Scale Diseconomies of scale and diminishing returns are both concepts in economics that are closely related to one another. Both these concepts represent how the company can end up making losses as inputs are increased in the production process. Since these concepts are quite similar to one another, they […]
Difference Between FDI and FII
FDI vs FII FDI (Foreign Direct Investments) and FII (Foreign Institutional Investments) both relate to foreign investments made by an entity based in another country. FDI and FII are both quite similar in that they both result in a substantial inflow of funds into a foreign country, and generally result in higher development and […]
Difference Between Diminishing Returns and Decreasing Returns to Scale
Diminishing Returns vs Decreasing Returns to Scale Diminishing returns and decreasing returns to scale are terms widely used in the study of economics. They both show how levels of output can fall when inputs are increased beyond a certain point. Despite their similarities, diminishing returns and decreasing returns to scale are different to one […]
Difference Between Elasticity of Demand and Elasticity of Supply
Elasticity of Demand vs Elasticity of Supply Similar in meaning to the expansion of a rubber band, elasticity of demand/supply refers to how changes in X (which can be anything such as price, income, raw material prices, etc.) can affect the quantity demanded or quantity supplied. In price elasticity of demand (PED) and price […]
Difference Between Positive and Negative Externalities
Positive vs Negative Externalities An externality exists when a third party who is not directly involved in a transaction (as a buyer or seller of the goods or services) incurs a cost or benefit. In other words, an externality arises when a third party to a transaction experiences side effects (which can be negative […]
Difference Between Elasticity of Demand and Price Elasticity of Demand
Elasticity of Demand vs Price Elasticity of Demand Similar in meaning to the expansion of a rubber band, elasticity of demand refers to how changes in X (which can be anything such as price, income, etc.) can affect the quantity demanded. The most commonly known and easily understood type of elasticity of demand is […]
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