A perfectly competitive market is a market where you can find a large number of buyers and sellers. The firms in such a market offer homogeneous products. Also, no firm is large enough to influence the market price. Basically, perfect competition exhibits the 'ideal' form of competition that exists in the industry. For instance: An industry comprising street corner vendors can come under this category. On the other hand, a monopoly is when a single firm owns all or almost all of the market … [Read more...]
Difference Between Economic and Social Infrastructure
Infrastructure is primarily classified into economic and social infrastructure. Economic Infrastructure is one that contributes to promoting economic activities. This may include highways, telecommunication, electricity etc. On the contrary, social infrastructure is one that assists in the promotion of education and health-related standards. Investment in the infrastructure of the country is one of the important drivers of economic development. This is because it is pertinent for the … [Read more...]
Difference Between Transitive and Intransitive Verbs
Basically, transitivity is a universal characteristic of a clause, which results in the transfer of activity from an agent (subject) to the patient (object). When you talk about the difference between a transitive and intransitive verb, the point to ponder is whether the sentence contains object or not. While transitive verb is one that has a subject and object as well, the intransitive verb has a subject only. A sentence consists of a subject, verb and object. Subject implies the doer (noun) … [Read more...]
Difference Between Economic Development and Sustainable Development
Economic Development refers to the process by which the economic health and quality of life of the country improves. It contains a number of structural changes. On the other hand, sustainable development is a process of development wherein economic, social and environmental policies are designed to result in a development which is sustainable, i.e. which maintains ecological balance. In short, it ensures a better quality of life for all people whether they belong to the present or future … [Read more...]
Difference Between Autonomous and Accommodating Items
Autonomous Items are the reason for the imbalances in the Balance of Payment Account. On the other hand, Accommodating Items are intended to restore the balance in the Balance of Payment Account. While autonomous items are foreign exchange transactions which arise due to profit motives. Accommodating items are nothing but short-term capital transactions which emerge to overcome the disequilibrium in the Balance of Payment causing due to autonomous items. Do you know that the balance of a … [Read more...]
Difference Between Personal and Personnel
The word personal and personnel are such a pair of words which easily confuses people, due to which they use it incorrectly, but they have very different meanings. While personal is used when we are talking about something which is private or owned by someone. On the other hand, personnel means the people who are under the employment of an organization or business. Let's take a look at these examples to understand the difference clearly: The personal information of all the personnel … [Read more...]
Difference Between Ex-showroom Price and On-road Price
Typically in the vehicle advertisements that you have seen on Television or in Newspapers, the price they show is the Ex-showroom price. But when you actually visit the showroom and ask for the actual price of that vehicle they tell you the On-road price. This strategy is used by companies to get more and more responses from the target audience. Having a car or a bike of our own is important for day-to-day transportation. If you are one of those who are looking for buying a vehicle for … [Read more...]
Difference Between Speak and Talk
There is a very slight but significant difference between the verbs 'speak' and 'talk'. As both are used when there is a verbal communication taking place between two or more people, it is common to get confused between these two. However, talk is a straightforward word, which we use in casual conversation. As against, speak is more of a formal word, which is mainly used in critical or hypothetical situations. Let's have a look at the examples below to understand them: While we were … [Read more...]
Difference Between Economy Class and Business Class
The main difference between economy and business classes lies in the prices and facilities offered. The fare of a business class is two to five times higher than an economy class. The business class allows you to carry additional luggage. Plus, you get free food and drinks, lounge services, and wider seats. On the other hand, the economic class lack such privileges. In an airline, these areas are separated by a door or panel. Passengers cannot enter the other area except when they are … [Read more...]
Difference Between If and Whether
The words if and whether are conjunctions which can be used interchangeably while reporting yes/no questions. If is primarily used when we put a particular condition in a sentence. On the other hand, whether is applied when we talk about two alternatives or situations that may happen. Let's take a look at the examples below to understand the difference: Jane will reach the station if Kate is coming by train. I don't know whether Kate is coming by train or by car. In these two … [Read more...]
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