Category: Free Items

5 Most Important Differences between Sub-Agent and Substituted Agent

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2. There is no privities of contract between the sub-agent and the principal. 3. A principal cannot sue directly the sub- agent except when he was properly appointed and he commits wilful wrong or fraud. 4. The sub-agent works under the control and direction of the agent. 5. The agent is responsible to the principal […]

7 Most Important Differences between Coercion and Undue Influence

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2. It entails use of physical force or threat, to cause consent in a con­tract. 3. Relationships are not implied. 4. Onus to prove that coercion was used to obtain consent lies on the partly who is complaining or the aggrieved party who is entitled to set aside the contract. 5. If the aggrieved party […]

14 Major Differences between Public Corporation and Government Departmental Undertaking

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2. It is a purely commercial. 3. It is an autonomous body. 4. Examples: ONGC, RTC, LIC, FCI, Damodar Valley Corporation, Air India, etc 5. There are two different basic concepts in the management of public corporations, viz. autonomy and accountability. 6. The structure of the public corporation cannot be amended by Government itself. The […]

Useful Essay on the Male Reproductive Organs (750 Words)

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This optimal temperature is ensured through the interplay of temperature receptors and cremaster muscles. When the temperature outside the scrotum is suboptimal than: the muscles under the skin of scrotum contract, drawing the testes close to the body. In contrast, when the considerable amounts of heat are generated within the body than the muscles of […]

Useful Notes on Short-Run Equilibrium of Competitive Firm – Incurring Losses

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= Average Cost x Equilibrium Quantity – Price x Equilibrium Quantity = BQ x OQ – OP x OQ = Area (OABQ – OPEQ) = Area (APEB) Fig. 10.4: Short-Run Equilibrium of a Competitive Firm Suffering Losses The competitive firm suffers losses in the short-run, when it cannot cover the full average cost (AC). In […]

What is the Impact of Government Policies on Consumer and Producer Surplus under Perfect Competition?

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= Consumer Surplus + Producer Surplus = CS + PS Now, suppose the government intervenes and imposes price ceiling such that producers cannot sell above the ceiling price. Price ceiling at or above the equilibrium price is meaningless or non-binding. Suppose the original equilibrium is attained at point ‘E’, through the intersection of demand AD […]