What is a Mixed economy? Mixed economy is the combination of capitalism and socialism. Under the mixed economy, the advantages of both capitalism and socialism are incorporated and
Top 10 responsibilities of Government towards Business The Government’s responsibilities towards business are as follows: 1. Enacting and Enforcing Laws Enacting and enforcing laws is the prime responsibility
Advantages of Capitalism The major benefits or advantages of capitalism are as under: 1. The resources are utilized efficiently and economically. 2. Producers, consumers and the workers all
Capitalist economic system In a capitalist economic system, the means of production are owned and operated by private individuals whose main object is to maximize profits. Free enterprise,
Forfeiture of Shares If a shareholder, who is called upon to pay any call fails to pay the amount, even after sending several reminders, the company may forfeit
Socialism is also known as the Communist Economic System or Centrally Planned Economy. It is an alternative to capitalism. Definition of Socialism According to Hicks, socialism is “an
What is a Trade Association? A trade association is a voluntary organization of independent business units in the same branch of industry, which conducts cooperatively activities aimed at
Dishonor of Cheque – Meaning A cheque is said to have bounced, or been dishonored, by non-payment when the drawee (banker) commits defaults in payment upon being asked
Advantages of business combinations to combining firms 1. Business combinations eliminates wasteful competition. Costs incurred for advertisement and sales promotion by different small firms can be saved if
Business combinations came into existence in order to hold ruinous competition in check. Great organizing ability, strategic genius, or personal ambition on the pan of one or a