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Primary Function of Money: Medium of Exchange & Store of Value
Money, therefore, plays its primary function of being a medium of exchange, unit of account, store of value, and standard…
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Secondary Sector of Economy: Industries, Role & Its Importance
The Secondary Sector of Economy has a very important function of transforming raw materials into ready-to-market products, contributing significantly to…
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What Is Planning: Definition, Process & Importance Explained
Planning can simply be described as a process where the individual sets goals, develops strategies, and outlines tasks and schedules…
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Consumer Awareness: Importance, Rights & Responsibilities
Consumer Awareness is an important concept through which consumers are made aware of the choice they make in purchasing and…
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What is Liberalisation? Meaning, Impact, Objective & Reforms
Liberalisation has played an important role in changing economies by opening markets for international trade and investment. Over the years,…