The two main components of a balance of payment account are: Current account Capital account Also read: Balance of Payments Surplus and... View Article
Normative economics is a branch of economics that deals with economic fairness and how the economy should be. It is subjective and heavily relies... View Article
Subsidies are a type of benefit that is offered by the government to the people, it results in reduction in the value of the subsidised product.... View Article
Nominal flow is defined as the flow of factor payment from firms to the households for their factor services and the corresponding flow of money... View Article
Money supply is referred to as the total stock of money that is circulating in the economy at any given time, this includes the money in the... View Article
In an oligopoly market, the firms that function need to invest a large amount of capital in order to survive. Also, there is fluctuation in the... View Article
Central problems of an economy arise due to the fact that resources that are present in an economy are in short supply or scarce and the human... View Article
Following are a few of the limitations of accounting: It is unable to measure things or any events that do not have a monetary value. It uses... View Article
The different elements of a computer system are as follows: Hardware: It comprises the physical parts of a computer system like CPU, keyboard,... View Article
Income tax paid by a sole proprietor is not considered as an expense that is done for generating revenue. Therefore, it is not treated as an... View Article
The objectives of preparing trial balance are as follows: To determine the accuracy of the ledger accounts. To identify errors in recording... View Article
E-banking or electronic banking is a faster and more convenient way of banking that allows customers with the option of performing basic banking... View Article
Capital goods are those goods that are used by the business for producing the consumer goods. In other words, we can say that capital goods are... View Article
Intermediate customers are regarded as those customers who purchase goods for resale. A final customer does not sell things that are bought. It... View Article
There is no requirement of further processing in case of Idli. Therefore, idli is regarded as a final good as it is the product that is consumed... View Article
Machinery will be considered as a final good if it is purchased by a consumer for use at home, while it will be regarded as a capital good if it... View Article
