Discount vs. Rebate

The difference between ‘Discount’ and ‘rebate’ is that when it comes to discount, it means a reduction of the price. Whereas when it comes to the rebate, it may be defined as refunding a part of the paid amount. So particularly the difference is between time and type of concession. Discount is the concession in […]

Salary vs. Wages

Salary and wages are used interchangeably as both refer to the remuneration. Although on a keener look into both this term tells that they are quite different to each other. The salary is the fixed amount that is given after a per pay period, it can either be on monthly basis or the yearly basis. […]

Microeconomics vs. Macroeconomics

Economics is the branch of knowledge that deals with the production, consumption, and transfer of wealth. The other famous definition of the economics tells that it is the relation of the scarcity of the commodities and their demand. Following it, we can determine that economics is the broader concept, as it is the knowledge which […]

GDP vs. GNP

During business degree, students come across certain terms which sound familiar to them, but they don’t know the exact meaning of it, two similar names are GDP and GNP, which are used quite often during political debates and in business talks. Expanding on what they actually stand for, GDP is Gross Domestic Product while GNP […]