Gross Domestic Product (GDP) GDP is an estimated value of the total worth of a country’s production and services, within its boundary, by its residents whether nationals and foreigners, generally…Read More

    A Monopoly is said to exist when a person/firm/company is the only supplier of a product/commodity or service. Pure monopoly – where only one producer exists in the industry In…Read More

    An oligopoly is a market condition or form which occur when market or industry is dominated by a small number of sellers called as oligopolists. Oligopolies can result because of various forms…Read More

    Monopolistic Competition is a form of imperfect competition in which one selling/buying firm dominates the market. This firm regulates the prices in the market as no other firm is large…Read More

    Perfect competition in economics refers to condition in market in an ideal situation. In this situation price for all goods and services are decided by market on basis of competition…Read More

    Gross National Product GNP – It stands for Gross National Product. It is a projected value of the total worth of production and services, by citizens of a country, on its…Read More