PUBLIC CORPORATION

Securities of a company

Usually, the securities of a publicly traded company are owned by many investors while the shares of a privately held company are owned by relatively few shareholders. A company with many shareholders is not necessarily a publicly traded company

CO-OPERATIVE

A co-operative (also known as co-op, cooperative or coop) is an autonomous association of people united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically controlled business.^[1] Since 2002 cooperatives and credit unions could be distinguished on the Internet by use of a .coop domain.

A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.^[1] An LLC is not a corporation;

SOLE PROPRIETORSHIP

A sole proprietorship, also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one natural person and in which there is no legal distinction between the owner and the business.

DIVISION OF LABOUR

The division of labour is the separation of tasks in any economic system so that participants may specialize. Individuals, organizations, and nations are endowed with or acquire specialized capabilities and either form combinations or trade to take advantage of the capabilities of others in addition to their own. Specialized capabilities may include equipment or natural resources in addition to skills and training and these assets may contribute together, as when specialized equipment requires skilled operators

THEORY OF PRODUCTION

Production theory is the study of production, or the economic process of converting inputs into outputs. Production uses resources to create a good or service that is suitable for use, gift-giving in a gift economy, or exchange in a market economy. This can include manufacturing, construction,^[1] storing, shipping, and packaging. Some economists define production broadly as all economic activity other than consumption. They see every commercial activity other than the final purchase as some form of production.
Production is a process, and as such it occurs through time and space. Because it is a flow concept, production is measured as a “rate of output per period of time”. There are three aspects to production processes:

DEMAND AND SUPPLY

Supply and demand

From Wikipedia, the free encyclopedia

For other uses, see Supply and demand (disambiguation).

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The price P of a product is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). The diagram shows a positive shift in demand from D₁ to D₂, resulting in an increase in price (P) and quantity sold (Q) of the product.

In microeconomics, supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good, or other traded item such as labor or liquid financial assets, will vary until it settles at a point where the quantity demanded (at the current price) will equal the quantity supplied (at the current price)

REAL MEANING OF CHOICE

Choice involves decision making. It can include judging the merits of multiple options and selecting one or more of them. One can make a choice between imagined options ("what would I do if ...?") or between real options followed by the corresponding action

SCALE OF PREFERENCE

Preference (economics)

From Wikipedia, the free encyclopedia

A simple example of a preference order over three goods

In economics and other social sciences, preference is the ordering of alternatives based on their relative utility, a process which results in an optimal "choice" (whether real or theoretical). The character of the individual preferences is determined purely by taste factors, independent of considerations of prices, income, or availability of goods.
With the help of the scientific method many practical decisions of life can be modelled, resulting in testable predictions about human behavior

MEANING OF SCARCITY AND WANTS

human wants have unlimited wants. That is to say that there is never such a time that a human being is satisfied and not in need of anything. On the other hand, resources available in nature, which should be used to meet those human wants, are limited. The available resources can never be enough to satisfy all human needs. This phenomenon, where there are unlimited human wants which are to be met by very limited resources, is essentially what economists call scarcity.

AREA OF SPECIALISATION

Resource Utilization

A major component of economics is the way in which a community or business uses available resources. Financial budgets, for instance, involves prioritization decisions on where to invest limited monetary resources. Manufacturing companies must figure out how to best use equipment, labor and materials to develop goods in the most efficient way. Decisions on how to preserve

HISTORY OF NIGERIA ECONOMY

  Nigeria is a middle income, mixed economy and emerging market, with expanding financial, service, communications, technology and entertainment sectors. It is ranked as the 21st largest economy in the world in terms of nominal GDP, and the 20th largest in terms of Purchasing Power Parity. It is the largest economy in Africa; its re-emergent

CAUSES OF DOWNFALL OF ECONOMY IN A NATION

   Many things can cause the downfall of a nation's economy.like;change of Government,money laundry,multi party system and so on.                                                                                                   Nigeria is really affected and our economy is bad.Nigeria became independent in the year 1960.Our first prime minister was ALHAJI SIR ABUBAKAR TAFAWA BALEWA presided by

basic concept of economics

                   Economics belongs to a group of subject called SOCIAL SCIENCES                            other social science subject are: SOCIOLOGY,GEOGRAPHY,PSYCHOLOGY,GOVERNMENT,POLITICAL SCIENCE,RELIGIOUS STUDY,ANTHROPOLOGY AND PHILOSOPHY.Economics is regarded as a social science because it studies human behaviour. For example ,if the price of a commodity rises,people will buy less,while if the price of such commodity decreases

scope of economics

                                                    MEANING OF ECONOMICS 
According to John Stuart Mill;Economics can be defined as "the  practical science of production and distribution of wealth." To this man,economics is concerned with how people produce and distribute various goods and services that are required for the maintainance