Patriarchal Theory of State According to patriarchal theory of the sate the state is nothing but an expansion of the family. In the beginning there was a husband and wife and children. The father was the chief controlling authority. With the passage of time, the family …

Matriarchal Theory of State The Matriarchal theory of state is very old. There are many people who support this theory. There was a time in human history when there was no system of permanent marriage and family. At that time people were still in the hunting …

Thomas Hobbes (1588-1679) was an Englishman. He lived at time when England was in the grip of civil war. There was complete confusion and anarchy. These conditions influenced the thinking of Thomas Hobbes and in this way he developed his theory of Social Contract. What is …

The social contract theory of government or theory of social contract is very old. It has discussed by Greek philosophers like Plato and Aristotle. But they rejected it. It remained forgotten for a very long time. It was revived in the 16th, 17th, and 18th centuries. …

Divine right of kings theory is an old theory of sate. In those days people were not civilized and did not have much knowledge. Religion was very powerful. As the time passed this theory was further developed. During the 17th and 18th centuries, due to development …

The advantages and merits concerning to the financial matters of the Muslims are called economic advantages. Following are the economic advantages of zakat or Economic benefits of zakat. 1. Equal Distribution of Wealth The main problem of modern economic system is unequal distribution of wealth which …

The main causes of business risk are as under: 1. Natural Factors There are certain nature factors like floods, earthquake etc. which can damage the business. For human beings nature is uncontrollable, so any loss due to nature calamities is unavoidable and uncontrollable. 2. Competition When …