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  Types of  utility  1) Form utility       When utility is created due to a change in the shape or structure of existing material , it is called form utility . for example , toys made of clay , furniture from wood etc . 2) Place utility       When utility of a commodity  increases due to change in its place  , it is called place utility . for example ,  Woollen  clothes have more  utility at cold places than at warm places. Transport creates place utility . 3) Service utility      Service utility arises when personal services are rendered by various professionals . for example service of doctors , teachers , lawyers etc . 4) Knowledge utility        When a consumer acquires knowledge about a particular product , it is called  knowledge utility . for example , utility of a mobile phone or a computer increases when a person knows about its various functions . 5) possessi...

Micro economics   Micro means a small part of a thing. micro economics thus deals with a small part of the national economy. It studies the economic actions and behaviour of individual units such as an individual consumer, individual producer or a firm etc. Macro economics Macro economics is  the branch of economics which analyses the entire economy. It deals with the total employment, national income, total consumption, total savings, general price level interest rates , inflation, trade cycles, business fluctuations etc. thus, macro economics is the study of aggregates.

Law of Demand Introduction   The law of demand was introduced by prof. Alfred Marshall in his book ,'principles of economics' which was published in 1890. The law explains the functional relationship between price and quantity demanded.    Statement of the law According to prof.  Alfred Marshall  , " Other thing being constant , higher the price of a commodity , smaller is the  quantity demanded and lower  the price of  a commodity ,  larger is the quantity demanded "    Demand curve

 Types of Taxes  There are two main types of taxes. they are :   1) Direct Tax  2) Indirect Tax  1) Direct Tax : It is paid by the taxpayer on his income and property. The burden of tax is borne by the person on whom it is levied. As he cannot transfer the burden of the tax to others, impact and incidence of direct tax falls on the same person. For example- personal income tax, wealth tax etc. 2) Indirect Tax  : It is levied on goods or services. It is paid at the tine of production or sale and purchase of a commodity or a service. The burden of an indirect tax can be shifted by the taxpayer (producers) to other person. Hence, impact and incidence of tax are on different heads. For example- newly implemented goods and services Tax (GST) in India has replaced almost all indirect taxes, custom duty. 

 B usiness management Types of  business management There are nearly two dozen branches of business management. Here is an overview of the 22 sectors in this wide field: 1. Financial management Financial management deals with finding a healthy balance between profit and risk so that even with a setback, the business is profitable in the long term. This type of business management involves planning, directing and coordinating with the accounting, investing, banking, insurance, securities and other financial activities of a business. The three key elements of financial management are financial planning, financial control and financial decision making. Short-term financial management is often referred to as "working capital management" and relates to cash management, inventory management and debtor management. Both the assessment and technique of financial decisions fall under this type of business management. 2. Marketing management Marketing management focuses on the practical...

Computerized Accounting   Manual accounting for thousands of years had been the trend and standard until around 1980s when fast computers hit the market globally. Computers for diverse functions were not only found to be reliable, highly accurate and the easiest to use in accounting circles but made it so easy to store and manage tons of financials data. With accounting software today allowing small businesses, governmental bodies to individuals to basically accomplish any type of accounting function   computerized accounting   continue to pack lots of unique features. The following are all the important information about computerized accounting. The Definition of Computerized Accounting Accounting in itself is the system made up of diverse controls, processes and procedures for the summarization, classification, recording and collection of financial data to help businesses, individuals, governments and other entities make decisions and interpret it to understand their fi...