DifferenceWalla
The main difference between B2B and B2C marketing is that B2B marketing is aimed at businesses, while B2C marketing is aimed at consumers. These two types of marketing have different goals and strategies. And so the way that they approach customers is also different. What is B2B Marketing? B2B marketing is the process of marketing […]
The type of training and the length of the program are the main differences between apprenticeship, internship, and learnership. Apprenticeship involves one to four years of on-the-job training, while an internship usually lasts for three to six months. Learnerships usually last for one to two years. What is an Apprenticeship? An apprenticeship is a system […]
The quantity of a good or service demanded by an individual household is called the Individual Demand. The sum total of all such demands over a period of time for any commodity in the market is described as Market Demand. What is Demand? In economics, demand is how much of a product or service is […]
What is the meaning of Oligopoly? Oligopoly is a market structure that occurs when a few firms dominate the industry. It can occur naturally or as a result of government intervention. There are only very few oligopolies in the economy, and they have been studied extensively by economists due to their relatively rare occurrence […]
What is the meaning of Factor Income? Factor Income refers to incomes that accrue as rewards for the services provided by land, labor, capital, and entrepreneur. These factor incomes are usually distributed among three main factors of production i.e. land or natural resources, labor, and capital. For example, wages paid to a laborer after working 8 […]
What is the meaning of Re-Order Level? Re-Order Level (ROL) is the point at which new supplies are ordered. It usually occurs when the inventory level reaches some predetermined point, known as reorder point so that fresh supply can be received in time without any delay. Reorder Point denotes the stock level at which a […]
Difference between Standard of Living and Quality of Life What is the definition of Standard of Living? Standard of living can be defined as the level of income and services available to an individual or society. It is a measure of the quality of life of an individual. It is calculated by comparing the average […]
Difference between Strike and Lock-Out What is the definition of a strike? A strike is a form of industrial action. It is a group of workers who decide to stop working in order to achieve a personal or group goal. Strikes are done in a peaceful manner. Purpose: A strike is done by the workers […]
Differences between Stock and Supply What is the definition of Stock? Stock is the excess of goods that are already available with a seller over and above those demanded from him at any given time. Stock may be an outcome of production or it may have been obtained through resale, purchase, or even gift. In […]
Differences between National Income and Domestic Income What is National Income? National Income is defined as the total monetary value of all goods and services produced within a country during a given period. It represents an aggregate measure of national output or GDP and can be expressed in both nominal terms and real terms to […]