Meaning of the Term “Production” Define the term “Production” Production-is any activities, which results in the creation of goods and services in order to satisfy human wants. In economics sense, production is for exchanging In the general meaning production may mean the creation of goods and services for personal consumption. Production is not complete if … Read more
The Nature and the Subject Matter of Commerce Explain the nature and the subject matter of commerce THE MEANING OF COMMERCE The scope of commerce means areas of study covered in commerce. It comprises the study of all activities in the transfer (distribution) of goods and services from the producers to consumers. Example of those … Read more
The Meaning and Importance of Management Explain the meaning and importance of management Management – act of allocating resources to accomplish desired goals and objectives efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of … Read more
The Term Business Units Explain the term business units A business organisation is one unit of control which is engaged in the production or distribution of any commodity.business organisation are of business nature from the point of view of ownership,control and size. It comprise the following sole proprietorship partnership joint stock companies cooperative Meaning of … Read more
The Meaning of Insurence Define Insurance Insurance: is an agreement in which a person makes regular payments to a company and the company promises to pay money if the person is injured or dies, or to pay money equal to the value of something (such as a house or car) if it is damaged, lost, … Read more
Meaning of Taxation Taxation refers to the practice of government collecting money from its citizens to pay for public services. or A means by which governments finance their expenditure by imposing charges on citizens and entities. Without taxation, there would be no public Expenditures. One of the most frequently debated political topics is taxation. Taxation is the … Read more
The Meaning and Importance of Export Trade Explain the meaning and importance of export trade Is the selling of goods, materials or services to foreign markets. An export is a function of international trade whereby goods produced in one country are shipped to another country for future sale or trade. The sale of such goods adds to the producing … Read more
The Meaning of Importance of Import Trade Explain the meaning and importance of import trade Import trade is the trade that involves buying goods from abroad. Examples of goods in Tanzania they are bought from abroad are cars, petrol and computer. There are basically five main reasons for which a country may decide to import a … Read more
The Meaning of International Trade Explain the meaning of international trade International trade, economic transactions that are made between countries. Among the items commonly traded are consumer goods, such as television sets and clothing; capital goods, such as machinery; and raw materials and food. Other transactions involve services, such as travel services and payments for foreign … Read more
Historical Background of Banking Explain the historical background of banking Banking can be defined as the business activity of accepting and safeguarding money owned by other individuals and entities, and then lending out this money in order to earn a profit. However, with the passage of time, the activities covered by banking business have widened … Read more