Day: May 28, 2022

1.1 Introduction Purchasing describes the process of buying: learning of need, locating and selecting suppliers negotiating prices and other pertinent terms, and follow up to ensure delivery. It entails the following activities: Purchase needs identification through liaison with user departments. Read More …

10.1 Definition of Economic growth is the increase of per capita gross domestic product (GDP) or other measure of aggregate income. It is often measured as the rate of change in real GDP. Economic growth refers only to the quantity Read More …

9.1 Phases of the Business Cycle Four phases of the business cycle are identified as follows A peak is when business activity reaches a temporary maximum with full employment and near-capacity output. A recession is a decline in total output, Read More …

8.1 Categories of investment Before developing any theories investment choices by people it is important to define what is meant by investment. Investment: is the formation of real capital, tangible or intangible, that will produce a stream of good and Read More …

We discuss the consumption choices of individuals .the theory of intertemporal choice was developed by irving fisher (1867-1947)the intertemporal choice theory is about individual not aggregate consumption but it does not have important implication for aggregate consumption because aggregate consumption Read More …