Effective Demand The starting point of Keynes theory of employment and income is the principle of effective demand. Effective demand denotes money actually spent by the people on products of industry. The money which entrepreneurs receive is paid in the form of rent, wages, interest and profit. Therefore effective demand equals national income. An increase […]
Tag: what is black economy
GLOSSARY BUSINESS ADMINISTRATION – Major Topics and Its Meanings Used In Business
Black economy : Money earned in private cash transactions, which is untraceable, and therefore untaxable. Black kinght : A company which makes a hostile takeover bid for another company that does not want to be bought. Black letter law : Well known principles of law that are not doubted or disputed. Blind test: Research method […]