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When wants are greater than the resources available to satisfy them scarcity exits?

Scarcity exists only because people’s wants are greater than the resources available to satisfy their wants. Scarcity is the condition resulting from infi...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

What are the 6 Ps in business?

The Marketing Mix – Product, Price, Promotion and Place. What do the 7 P’s stand for? The marketing mix is an acronym that encompasses 7Ps: Product, Place...

What is the difference between trade business and profession?

1. Meaning. Business is an economic activity where people sell goods or services. Profession is an economic activity where people work with their knowledg...

Can you go straight to Level 3 Health and Social Care?

You want to develop or demonstrate your skills, perhaps to become a senior care worker. There are two pathways available at level 3: Diploma in Health and...

What can the government do to encourage entrepreneurship?

Grants, Loans and Disbursements Loans and grant programs offered directly to entrepreneurs are one way to use tax revenue to stimulate business activity. ...

How has the automotive industry helped society?

The automobile gave people more personal freedom and access to jobs and services. It led to development of better roads and transportation. Industries and...

Which is the strongest board in the world?

The Ultimate Skateboard Deck – the Lithe Slate 3 So let’s start with the king of durability. Crowdfunded on Indiegogo and now available to the public in l...

Does Miley Cyrus still make money from Hannah Montana?

However, she didn’t only make money from the show itself. Cyrus also released several albums, went on tours and sold a ton of Hannah Montana merchandise. ...

How did Kleenex get its name?

How did Kleenex® Tissue get its name? Kleenex® Tissue was originally designed in 1924 as a cold cream remover; hence, the “Kleen” portion of the word was ...

What is bin card in cost accounting?

1. Bin card is the record maintained under the perpetual inventory system by the stores department and shows the quantities of materials received, issued ...