The two driving forces of the market and also the economy, i.e. demand and supply. 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 people are very selective regarding the things they use, … [Read more...]
Difference Between Revenue and Profit
Revenue is the income earned by the business entity through its day to day operations, i.e. from the sale of goods or rendering of services to the customers. On the other hand, Profit refers to the financial gain of the company i.e. when the amount earned from the sale of goods exceeds the amount spent on buying or producing goods; the result would be profit. There are two types of profit, i.e. gross profit and net profit. If revenue is the backbone, then profit is the lifeblood of the … [Read more...]
Difference Between EPF and PPF
EPF is an arrangement in which the salaried employees can make a contribution from the salary they draw each month towards a fund. Similarly, PPF is also a fund in which any person can make a contribution. These two are major vehicles of savings, in which investment is made to secure future, and also to mobilize savings of the general public, which reap interest, Provident Fund is an investment fund, wherein specified individuals can make the contribution, and a lump sum amount which includes … [Read more...]
Difference Between Sales and Marketing
In business parlance, sales refer to the exchange of products and services for money whereas marketing is a broad term that involves a chain of activities such as market research, promotion, and sales. Marketing focuses on customer's need, whereas sales stresses on the needs of the company. Marketing is all about ascertaining human needs and satisfying them, by providing the products they require, or say, it is about meeting needs profitably. On the other hand, sales is simply, inducing the … [Read more...]
Difference Between Economics and Finance
The term economics refers to a science of making the logical decisions regarding the use of scarce resources, so as to satisfy the unlimited human wants. It is many times juxtaposed with the term finance. Finance is defined as the study and the management of funds for the purpose of wealth maximization While economics is a social science, which studies how people, maximize gains from limited resources, i.e. selects the best alternative with the objective of maximizing gains. Conversely, … [Read more...]
Difference Between Micro and Macro Economics
The micro economics is the study of an economic behavior of a particular individual, firm, or household, i.e. it studies a particular unit. On the other hand, macro economics is the study of the economy as a whole i.e., not a single unit but the combination of all, firms, households, nation, etc. 'Economics' is defined as the study of how the humans work together to convert limited resources into goods and services to satisfy their wants (unlimited) and how they distribute the same among … [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...]
Difference between Lay-off and Retrenchment
The biggest difference between layoff and retrenchment is that layoff is volatile in nature, i.e. employees are recalled, once the period of layoff is over while retrenchment is non-volatile i.e. that involves full and final termination of services. The employment contract is terminated with the employees by the employer, due to three major reasons which are: (i) the organization is going through the lean period, (ii) initial faulty hiring, (iii) employee shows deviant behavior, which affects … [Read more...]