Economics

25 posts

Marxism

Marxism: Definition – Meaning – Explanation

What Is Marxism? Marxism is the political, economic, and social theories of Karl Marx embracing the inevitable evolution of harmonious, classless socialism. Marxism holds that the fight between social classes is a major force in history.  Further, that there will eventually be a society without classes. It investigates the impact […]

Cutting Prices

Cutting Prices – Is Price Cutting a Good Strategy?

Cutting Prices vs Cutting Costs Cutting prices is the competitive strategy of reducing prices to introduce a new product, expand market share, or drive away competitors. Cutting costs refers to actions taken by a firm to cut expenses and increase profitability. Cost-cutting strategies are generally undertaken when a company is […]

Monetary Conditions Index

Monetary Conditions Index (MCI) Definition and Guide

What Is the Monetary Conditions Index (MCI)? The monetary conditions index (MCI) was created in the early 1990s to capture two significant monetary transmissions. It combines changes in the short-term interest rate and the effective exchange rate into a single variable or index to gauge the relative ease or tightness […]

Auditable Meaning

Auditable Meaning In Accounting and Software Applications

Auditable Meaning in Accounting vs Software Applications Auditable Meaning in Accounting and Finance: The ability of an auditor to successfully conduct a comprehensive examination of a client’s financial records, files, & data. A financial audit is an official examination of an individual’s or organization’s financial statements and records.  Typically, an […]