What is an example of opportunity cost in business?
Opportunity cost is also known as economic cost. An example is, if more resources are used to produce cotton, then... View Article
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Is a cheque a legal tender?
No, the cheque is not a legal tender. Postal orders, bills of exchange, bank drafts are also considered as non-legal... View Article
Why is fiat money legal tender?
Currency notes and coins are known as fiat money. Currency notes and coins are legal tender. They do not have... View Article
Why are demand deposits not legal tender?
Because demand deposits can be rejected by anyone as a mode of payment. Hence, it is a non-legal tender. Banknotes... View Article
What is the difference between limited and unlimited legal tender?
When the legal tender can be accepted without any limit, then it is known as unlimited legal tender, when the... View Article
What are the two types of legal tender money?
Banknotes and coins are two types of legal tender money in India. Every banknote issued by Reserve Bank of India... View Article
Can a shop refuse legal tender?
No, a shop cannot refuse a legal tender. Legally it should be accepted. Hence it is known as legal tender.... View Article
Is paper money legal tender?
Yes, paper is a legal tender. It is a medium of exchange for services and goods in an economy. Bank... View Article
What is not legal tender money?
Bills of exchange, bank drafts, postal orders, and cheques are examples of non-legal tender money. These types of money are... View Article
What is legal tender money in India?
Every banknote issued by the Reserve Bank of India (RBI) shall be a legal tender in India, provided those notes... View Article
What is a legal tender money example?
Legal tender means banknotes and coins which are offered in payment of debts and which must be accepted.You can read... View Article
What is the RBI repo rate?
Repo Rate is one of the tools used by the Reserve Bank of India (RBI) to keep inflation under control.... View Article
What is the 36th Amendment of the Indian Constitution?
The Thirty-Sixth Amendment, 1975 of the Indian Constitution made two important changes. They are as follows: Sikkim was made a... View Article
Who is the implementing agency of PMEGP?
The Scheme will be implemented by Khadi and Village Industries Commission (KVIC), a statutory organization under the administrative control of... View Article
What is the PMEGP scheme?
The Government of India introduced a new credit-linked subsidy programme called Prime Minister’s Employment Generation Programme (PMEGP) by merging the... View Article
What is the 21st Amendment Act?
The Twenty-First Amendment Act of 1967 included Sindhi as the 15th language in the Eighth Schedule. Further Reading: 8th Schedule... View Article
What are the objectives of the Khadi Commission?
The broad objectives for which the KVIC was established it are:- To promote and develop Khadi and Village Industries and... View Article
What is the composition of Khadi and Village Industries Commission?
The Khadi and Village Industries Commission consists of the following:- six non-official members having specialized knowledge and experience of khadi... View Article
What is the tenure of Khadi and Village Industries Commission?
The Government of India constitutes the Khadi and Village Industries Commission for a period of 5 years. Further Reading: Khadi... View Article
Who is the chairman of Khadi and Village Industries Commission?
The chairman of Khadi and Village Industries Commission in 2021 is Shri. Vinai Kumar Saxena. Further Reading: Khadi and Village... View Article
