Tag Archives

Factors of Production

An economy owns factors of production which are used in production process. Factors of production are also known as inputs of the production process. Level of …

Licensing and Franchising

Licensing Through licensing, a firm (licensor) grants a foreign entity (licensee) some type of intangible rights, which could be rights to process, a patent, a …

Barter Economy

Barter economy is where goods are exchanged for goods rather than using money to perform transactions. Barter economy existed in the past where there were no …

Economic Models and Production Possibilities Frontier

The expression of a model can be in the form of words, diagrams, or mathematical equations, depending on the audience and the point of the model. These are the …

Goods vs Services

Goods and services aims at fulfilling customer needs.  Examples of goods are books, foods, clothes and so on. Examples for services would be hair dressing, …

Domestic versus International Business

A firm needs to identify its potential market, locate adequate and available sources of supplies of raw materials and labor, raise initial amount of capital, …

The Multinational Corporations

During its early stages, international business was conducted in the form of enterprises that were owned singly or in partnerships. As the size of …

What is International Business?

In it’s purest definition, international business is described as any business activity that crosses national boundaries. The entities involved in business …

Present Value of an Annuity

Present Value of an ordinary annuity (Monthly/Annual investments are made to recover a large some of money at the end of n number of periods) can be found …

Needs, Wants and Demand

Needs are basic physical and mental conditions of a human that need to be satisfied using a product or a services. In other hand wants can be defined as ways …