The cheque is just like a paper leaf, containing an order to the bank to pay the specified amount to the person whose name is stated on it. However, there is always a risk of dishonour of a cheque due to various reason, for which many entities prefer demand draft instead, as the payment is guaranteed. A demand draft is an instrument issued by the bank in favour of the beneficiary and used for the transfer of money. But, again the person has to visit the bank branch to apply for the demand … [Read more...]
Difference Between Demand and Supply
To understand the market mechanism, one needs to have a good knowledge of demand and supply, as these two forces regulate the entire market. Demand implies the desire for a good, supported by the ability and readiness to pay for it. On the other hand, supply alludes to the total amount of a commodity ready for sale. When demand rises there is a shortage in the supply and when a supply is enough the demand falls short, so there is an inverse relationship between these two elements. Nowadays … [Read more...]
Difference Between Revenue and Profit
A business entity always focuses on increasing revenue, because it is the revenue which decides its fate. In addition to this, the profit of the company also greatly depends on the revenue earned. For earning profits, revenue should always be more than the cost of inputs, or else the firm would not be able to survive in the long run. Revenue is the proceeds which a firm earns from different activities, in a particular period. On the contrary, profit, as we all know, is the surplus of income … [Read more...]
Difference Between EPF and PPF
Provident Fund is an investment fund, wherein specified individuals can make the contribution, and a lump sum amount which includes the principal and interest thereon is paid to the holder, either on maturity or on retirement. EPF or Employees Provident Fund refers to an arrangement whereby a certain percentage of the salary of the employees is deducted every month to contribute it towards the EPF account. On the other hand, PPF or Public Provident Fund is one such scheme for the general … [Read more...]
Difference Between Sales and Marketing
While sales is more of transaction-based, marketing aims at winning and retaining the customers for the long term. These two often share a common goal of increasing the company's revenue but differ in their functions and process. Basically sales imply the exchange of products and services for money or money's worth. On the other hand, marketing is an umbrella term which indicates a set of activities that starts with the market research and ends with consumer satisfaction. The focus of the two … [Read more...]
Difference Between Economics and Finance
The term economics refers to a science of making logical decisions regarding the use of scarce resources, so as to satisfy the most compelling of unlimited wants. It is many times juxtaposed with the term finance. Finance is defined as the study and management of funds for the purpose of wealth maximization. While economics studies how people, maximize gains from limited resources, i.e. select the best alternative with the objective of maximizing the level of satisfaction. Conversely, finance … [Read more...]
Difference Between Micro and Macro Economics
Micro Economics talks about the actions of an individual unit, i.e. an individual, firm, household, market, industry, etc. On the other hand, the Macro Economics studies the economy as a whole, i.e. it assesses not a single unit but the combination of all i.e. firms, households, nation, industries, market, etc. ‘Economics’ is defined as the study of how humans work together to convert limited resources into goods and services to satisfy their wants (unlimited) and how they distribute the same … [Read more...]
Difference between Biography and Autobiography
The two traditional forms of literature that describe the character sketch and course of the life of a person are biography and autobiography. Biography is the life history of an individual, written by someone else, whereas the autobiography is an expression of a person's life, written by self. Both of these two presents the view of, what happened in the past where the author lived. These are non-fiction books, written in chronological order, tells a story about the person who made a … [Read more...]
Difference between Biodegradable and Non-Biodegradable Substances
We often counter terms like 'biodegradable' and 'non-biodegradable' in a variety of things and products around us. From household items to the food we eat, basically, everything can be labeled in either of the two categories. So, what is this stuff all about and why is it so important to know the difference between them. Content: Shares Vs Debentures Definition Key Differences Conclusion Definition of Biodegradable Substances The term 'Biodegradable' is used for those things … [Read more...]
Difference between CBSE and ICSE Board
The principal difference between CBSE and ICSE education is that while CBSE is a board, ICSE is an Exam conducted by CISCE. CBSE and ICSE, both are most popular school board formats in India and is widely spread across all states. The subjects offered for study are almost same in these two. As far as the education of children is concerned, many parents are curious and at the same time confused to know which board of education will offer quality education CBSE or ICSE. As the educational … [Read more...]