Basically, in a market economy, economic activities are not planned, they take place as per the interaction of economic agents. As against this, in a command economy government has full control over the economic activities. An economy is nothing but a framework within which the economic activities are undertaken. It is that system operating in the country which organizes, coordinates and balances the economic activities, i.e. production, distribution, consumption and exchange of goods and … [Read more...]
Difference Between Intermediate Goods and Final Goods
Intermediate goods are goods which are used as a factor of production to produce goods which have the ability to satisfy wants. For this purpose, they undergo the production process. On the contrary, final goods are the goods which are readily available to sale, to the ultimate consumer of the product. Think of a car, which is a final product, however, the parts used to manufacture a car such as gear lever, tyres, steering wheel, windscreen, windscreen wipers, seat belt, speedometer, bumpers, … [Read more...]
Difference Between Tariff and Non-tariff Barriers
Tariff barriers are the tax or duty imposed on the goods which are traded to/from abroad. On the contrary, non-tariff barriers are the obstacles to international trade, other than tariffs. These are administrative measures implemented by the country's government to discourage goods brought in from foreign countries and promote domestically produced items. Though liberalization widened the scope and opportunities for the domestic companies, however, it has also posed a threat of competition … [Read more...]
Difference Between Article and Journal
Written compositions are available in varied types and forms, and targets a different segment of audiences. One who is interested in reading can find articles in various publications. An article is nothing but just a piece of writing on a particular topic, which along with other written material included in the books, magazines, newspaper, website, blogs, journals, etc. On the contrary, Journal is a periodical publication in a specific field of study, which is often reviewed by experts in the … [Read more...]
Difference Between Judgement and Decree
"Law" implies the system of rules and regulations, which are based on different principles of justice, fairness and equality, so as to govern human activities. In law, Decree implies the legal and formal order, which specifies the rights and obligations of the parties concerned. On the other hand, the judgement refers to the decision taken by the judge, on the premise of order or decree. As we know that thousands of cases are dealt in courts daily, on which judgement is pronounced, after … [Read more...]
Difference Between Commercial Bank and Development Bank
Commercial Bank is the bank organized to perform public utility banking services, such as accepting deposits, lending money, etc. On the other hand, development bank refers to a multi-purpose financial undertaking set up to provide financial aid to the industrial and agricultural sector, to encourage development. Banks play a very important role in the financial system of every country. If the banking system in the economy is effective, it adds to the economic development of the country. … [Read more...]
Difference Between Appeal and Revision
An appeal refers to a legal process of applying to a superior court for reconsideration of a decision, judgement or order, given by a subordinate court. It is a well-known fact that the right to appeal is not a natural one, rather it is an inherent right to the litigation process. On the contrary, a revision implies the act of re-examining a case, so as to make it defect free or grant some relief in case of improper exercise or failure to exercise jurisdiction by a subordinate court. The … [Read more...]
Difference Between Conference and Seminar
Conferences and Seminars are often conducted for an elongated period of time, wherein a huge presentation or speech is given by a speaker on a particular subject, due to which people often juxtapose them up. However, a conference is a kind of pre-arranged meeting conducted over a period of few days, wherein a particular topic is deliberated and all the participants have some shared interest. On the contrary, a seminar implies an academic gathering of people, wherein the attendees are provided … [Read more...]
Difference Between Transactional and Relationship Marketing
Transactional Marketing is amongst the different marketing strategies that emphasize maximizing the sales volume and revenue of the firm. On the other hand, Relationship Marketing is concerned with building long term relationships with customers. At present, the biggest challenge for a company is not just to attract customers, but also to retain them for the long term, so as to gain new customers from the existing ones. Basically there are two marketing strategies which are being used by the … [Read more...]
Difference Between Copyright Infringement and Plagiarism
Though the subject matter of plagiarism and copyright infringement is the copying of the content and that too without the consent of the creator, however, they are not one and the same thing. Plagiarism involves stealing someone else's original and unique creation and not giving proper credit to the originator. On the contrary, Copyright infringement refers to the unauthorized duplication or stealing of another person's unique and creative work, in a way, which is specifically prohibited by … [Read more...]
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