Day: December 12, 2020

Meaning of firm and industry A firm is an individual enterprise or business unit under one control an ownership e.g. a business unit carrying the production of a good or service such as production of soap or a legal service Read More …

Meaning of demand Demand is the quantity of a product that buyers are willing and able to buy at a given price over a given period of time.   Factors that determine the demand for a product (determinants of demand) Read More …

Product is an item or service offered to the consumers at a price. Therefore, product promotion is the communication or any activity undertaken to inform the consumers, persuade and remind them to buy the product from the market.   The Read More …

Insurance-This is an undertaking or contract between an individual or business and an insurance an occurrence of risk(s) (i.e. against events whose occurrences are unforeseen but causes financial losses or suffering to the affected parties. Risks are also referred to Read More …