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Business Vs Commerce

Reading Time: 3 minutes Business focuses on creating and selling products or services for profit, while commerce encompasses the entire process of exchanging goods and services, facilitating the smooth flow between buyers and sellers.

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What is Economics?

Reading Time: 4 minutes Economics is the study of how individuals and societies allocate scarce resources to satisfy their needs and wants. It examines the production, distribution, and consumption of goods and services to understand and optimize economic decisions.

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Demographic Segmentation

Reading Time: 5 minutes Demographic segmentation is the process of dividing a market into distinct groups based on variables such as age, gender, income, education, occupation, and family size, to better target and tailor marketing efforts.

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History of Economics

History and Evolution of Economics

Reading Time: 3 minutes Economics has come a long way from its ancient roots in trade and resource management to the diverse theories we use today, like Keynesian and Behavioral Economics. Exploring this evolution helps us understand how past ideas continue to influence our modern economic practices.

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Adam Smith, Lionel Robbins, Alfred Marshall's Definitions

Adam Smith, Lionel Robbins, Alfred Marshall’s Defnitions

Reading Time: 3 minutes Adam Smith, the father of modern economics, defined economics as the study of wealth creation. Lionel Robbins expanded this, viewing economics as the science of scarce resources and their allocation, while Alfred Marshall emphasized economics as the study of human behavior in relation to material welfare.

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