business management and industrial economics
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Business Management and Industrial Economics
M Haneef Solangi
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Basic Concepts of Economics
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Economics
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Utility
Utility Refers to power, value or ability of a commodity which satisfy the Human want
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Income
The term income refers to sum of money individuals receive during given period of time against their services.
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Saving is the portion of income that is not spent on consumers goods is called savings.Saving= Income - consumption
Saving
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Wealth
All those goods which possess utility and have value-in-exchange.
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The portion of money spent to earn more money.
Investment
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The power of a good to command other goods or services in exchange for it is called it’s value.
Value
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Thanks