Category: Economics

      Economic growth implies an increase in the productive capacity of an economy which leads to an increase in GNP, national income, or output. Economic development on the other hand is much more encompassing because it denotes not only an increase in the GNP of a country but also an increase in the general welfare […]

     A business organization is any form of establishment that undertakes the production of goods or rendering of services demanded by the consumers. The primary objectives of any business or organization are to make a profit.  Types of Business Organizations Business organizations can be classified into two major types. These are private enterprises and […]

  WHAT IS ECONOMIC INTEGRATION?                  Economic integration is a condition of international trade in which all trade barriers and restrictions are removed. There is perfect capital mobility, complete freedom of migration, complete freedom of establishment of businesses, and unhindered flow of information and technology. As stated above, economic integration is […]

                                  MEANING OF INFLATION        Inflation refers to a persistent and sustainable rise in the general price level. A general phenomenon during a period of inflation is the continuous fall of the value of money in the economy.        PRICE […]

Trade by Barter       Trade by barter is the direct exchange of goods for goods, goods for services, or services for services. It was a system of exchange that was in use before the introduction of money. Problems of a trade by barter1) Problem of double – coincidence of wants: It was time-consuming and energy-sapping […]

Definition of Industry and Industrialization Industry: The term industry refers to a group of firms that produce broadly similar goods or offer broadly similar services e.g. all the firms producing cement belongs to the cement industry. The firm on the other hand refers to an independently administered business unit that carries out production, construction, or distribution […]

           FINANCIAL INSTITUTIONS        Financial Institutions can be defined as the business organizations that deal in money, though some may deal in other financial assets such as shares, letters of credit, bills of exchange, etc. Except for the Central Bank, they make profits by trading in money; that is, through the process […]

     Balance of payments can be defined as the systematic record or summary statement of accounts of all the major economic or trading transactions between a reporting country and the rest of the world, during a specific period, usually one year. Balance of payments is a summary of receipts (income) and payments (expenditure) of a country in the […]

Banks are financial institutions that are licensed to accept deposits and loans. Banks may also offer financial services such as wealth management, currency exchange, and safe deposit boxes. There are different types of banks, including Development banks, Commercial bank, Merchant banks, and Mortgage banks etc. In most countries, banks are regulated by the national government […]