What do we mean by scarcity in general? Scarcity is the state of unavailability of certain goods in a society. In economics, Scarcity means limitations that imply inadequacy or insufficiency in goods, resources and capacities through which desired goals are … Read More...

PESTEL is a framework used by marketers for the purpose of assessing the macroeconomic factors that affect the functioning of an organisation. The result of this process is used in SWOT analysis to assess the strength and weakness of an … Read More...

What is the purpose of setting a price floor and price ceiling? Price Ceiling is one of the approaches used by the government and the purpose of which is to control the prices and to set a limit for charging … Read More...