Absolute advantage is one when a country produces a commodity with the best quality and at a faster rate than another. On the other hand, comparative advantage is when a country has the potential to produce a particular product better than any other country. Due to the effect of globalization, one can enjoy Brazilian coffee, while living in the United States or go for a drive in a German car, on the roads of London. International trade helps the countries to expand their market and sell the … [Read more...]
Difference Between Fundamental and Technical Analysis
Fundamental Analysis studies all those factors which have an impact on the stock price of the company in future, such as financial statement, management process, industry, etc. It analyzes the intrinsic value of the firm to identify whether the stock is under-priced or over-priced. On the other hand, technical analysis uses past charts, patterns and trends to forecast the price movements of the entity in the coming time. Stock prices change every minute, and so every investor is keen to know … [Read more...]
Difference Between Unilateral and Bilateral Contract
Unilateral Contract, as the name suggests, is a contract in which the obligation of one party is yet to be performed. As against, Bilateral Contract is the contract, in which the obligation of both the parties is due. Contracts are all about legal enforcement, in the sense that if an agreement possesses legal enforceability, they are considered a contract, whereas, if they lack the same, they are nothing more than an agreement. Now, based on the performance, the contracts are divided into two … [Read more...]
Difference Between Entrepreneur and Entrepreneurship
An entrepreneur is someone who locates the need of society and tries to meet the same, with his/her innovative idea. On the other hand, 'entrepreneurship' which refers to the process of establishing a business entity, intending to get profit, as a return in the future. You might have heard the names like Bill Gates, Jeff Bezos, Steve Jobs, Mark Zuckerberg, Larry Page, Jack Ma and many more, for their innovative and unique products given by them to the society. They are not businessmen, rather … [Read more...]
Difference Between Gross Total Income (GTI) and Total Income (TI)
Most of the people have no idea about the income on which tax is levied and due to which they face trouble in ascertaining their taxable income and filing their return. As per the Income Tax Act, a person can earn income from different sources and these sources, are categorised as heads of incomes. In the context of income tax, the terms gross total income and total income are often used, wherein gross total income is the aggregate of income calculated under the five heads. On the other hand, … [Read more...]
Difference Between Previous Year and Assessment Year
According to the Income Tax Act, income earned by a person in a financial year is taxable in the following financial year. So, the financial year in which the person has received income is called as the Previous Year. On the other hand, the financial year in which the tax liability on the income of the person is assessed is known as Assessment Year. We all know that the Calendar Year commences on the 1st of January and ends on 31st of December every year. But, the calendar year has no … [Read more...]
Difference Between Product and Process Layout
In a product layout, the machines, material and other facilities are placed as per the order of processing. It is often used when the production is to be performed on a large scale. Process layout is a type of plant layout wherein like machines are grouped in a single department. It is primarily used when the production process is non-repetitive in nature. The layout is an important concept of operations management, which implies the systematic organization and grouping of facilities and … [Read more...]
Difference Between Crowdfunding and Traditional Fundraising
In the business world, crowdfunding has evolved as one of the fastest growing industry, which aimed at changing the way in which entrepreneurs raise money and also the mindset of people to invest their money in established companies only. Traditional fundraising for a business project or venture encompasses pitching a few investors, banks or venture capitalists for a hefty sum. But in crowdfunding, the 'crowd' funds the idea or project, through an online platform, i.e. internet is used to … [Read more...]
Difference Between Multilevel Marketing (MLM) and Pyramid Scheme
Multilevel Marketing is a marketing strategy in which companies recruit distributors to sell their products and services to the people and also encourage others to join the company as a distributor and earn a commission, by selling the products further and inviting others to work. Multilevel Marketing is commonly confused with Pyramid Scheme; wherein one pays to join and become an agent of the scheme who get paid for recruiting others into the system and thus widening their network. One of … [Read more...]
Difference Between Brand Equity and Brand Value
A brand is not just a name, logo, design, symbol or combination of them, that helps the consumer in identifying the origin of the product, but it is much more than that. A brand is a promise, feeling, expectation and experience. A point to ponder, relating to the brand is that Brand equity is not equal to brand value. Brand equity is consumer focused, as its value is derived from consumer's perceptions, experiences, memories and associations concerning the brand. On the other hand, brand … [Read more...]
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