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Competition-oriented pricing, also known as market-oriented pricing, means basing the prices of your products or services on those of the competition rather than considering consumer demand and your own costs.
This pricing method also involves analyzing and researching your target market. As with most business strategies, competition-oriented pricing has its advantages and disadvantages.
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| <center>Stock</center> | <center>Flow</center> |
| <center>Definition</center> | |
| Stock is defined as a variable that is measured at a particular point in time | Flow is defined as a variable which is measurable over a period of time |
| <center>Time Dimension</center> | |
| Stock does not have a time dimension attached with it | Flow has a time dimension attached with it |
| <center>Nature</center> | |
| Stock is static in nature | Flow is dynamic in nature |
| <center>Influence</center> | |
| Stock influences the flow, as such greater amount of capital will lead to greater flow of services | Flow influences the stock, as in increased flow of money supply in an economy results in increase in the quantity of money |
| <center>Examples</center> | |
| Bank deposits, capital, wealth, population | Capital formation, income, interest on capital, depreciation |
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‘The last lesson' written by Alphonse Daudet narrates about the year 1870 when the Prussian forces under Bismarck attacked and captured France. The French districts of Alsace and Lorraine went into Prussian hands. The new Prussian rulers discontinued the teaching of French in the schools of these two districts. The French teachers were asked to leave. Now M. Hamel could no longer stay in his old school. Still he gave the last lesson to his students with utmost devotion and sincerity as ever.
One such student of M. Hamel, Franz who dreaded French class and M. Hamel’s iron rod, came to the school that day thinking he would be punished as he had not learnt his lesson on participles. But on reaching school he found Hamel dressed in his fine Sunday clothes and the old people of the village sitting quietly on the back benches. It was due to an order from Berlin. That was the first day when he realized for the first time that how important French was for him, but it was his last lesson in French.
The story depicts the pathos of the whole situation about how people feel when they don’t learn their own language. It tells us about the significance of one’s language in one’s life for the very existence of a race and how important it is to safeguard it.
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Microeconomics is the study of economics at an individual, group, or company level. Whereas, macroeconomics is the study of a national economy as a whole. Microeconomics focuses on issues that affect individuals and companies. Macroeconomics focuses on issues that affect nations and the world economy. Unemployment, interest rates, inflation, GDP, all fall into Macroeconomics. Consumer equilibrium, individual income and savings are examples of microeconomics.
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It is true that under the British rule, there was significant infrastructural development in the country. But the actual motive of the British behind the infrastructure development was only to serve their own colonial interests. British rule brought about development in the areas of transport and communication. The roads served the purpose of mobilising the army within India and facilitating transportation of raw materials from different parts of the country to ports, and ports were developed for easy and fast exports to and Imports from Britain. Similarly, railways were introduced and developed for commercialization of agriculture and for the transportation of finished goods of British industries to the interiors of India. Railways assisted British industries to widen the market for their finished products. Posts and telegraphs were developed to enhance the efficiency and effectiveness of the British administration in maintaining law and order. Hence, the aim of infrastructural development was not the growth and development of the Indian Economy but to serve the economic and political interests of Britain.
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Anurag Saral 4 years, 10 months ago
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