What Are the Elements of the Balance of Payments?
The elements of the balance of payments are as follows: Current account Capital account Financial account Also read: Balance of... View Article
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What Are the Two Main Components of Balance of Payment Account?
The two main components of a balance of payment account are: Current account Capital account Also read: Balance of Payments... View Article
Define Normative Economics, With a Suitable Example.
Normative economics is a branch of economics that deals with economic fairness and how the economy should be. It is... View Article
What Are ‘Subsidies’?
Subsidies are a type of benefit that is offered by the government to the people, it results in reduction in... View Article
Define Nominal Flow.
Nominal flow is defined as the flow of factor payment from firms to the households for their factor services and... View Article
What Is Money Supply?
Money supply is referred to as the total stock of money that is circulating in the economy at any given... View Article
Why Is the Number of Firms Limited in an Oligopoly Market? Explain.
In an oligopoly market, the firms that function need to invest a large amount of capital in order to survive.... View Article
Why Do Central Problems Arise? Discuss Briefly.
Central problems of an economy arise due to the fact that resources that are present in an economy are in... View Article
Name Any Two Items Included in the Balance of Trade Account.
The items included in balance of trade account are Export of visible items (goods) Import of visible items (goods) Also... View Article
Write Any Two Limitations of Accounting.
Following are a few of the limitations of accounting: It is unable to measure things or any events that do... View Article
State the Different Elements of a Computer System.
The different elements of a computer system are as follows: Hardware: It comprises the physical parts of a computer system... View Article
Give three examples of a transaction processing system.
Three examples of transaction processing systems are as follows: ATM (Automated Teller Machines) Order processing systems Airline seat reservation system... View Article
What Will Be the Accounting Treatment of Income Tax Paid by the Proprietor?
Income tax paid by a sole proprietor is not considered as an expense that is done for generating revenue. Therefore,... View Article
Mention Any Two Objectives of Preparing Trial Balance.
The objectives of preparing trial balance are as follows: To determine the accuracy of the ledger accounts. To identify errors... View Article
What Is E-banking?
E-banking or electronic banking is a faster and more convenient way of banking that allows customers with the option of... View Article
What Are Three Types of Consumer Goods?
The three types of consumer goods are: Durable goods Non-durable goods Services Also read: Difference Between Final Goods and Intermediate... View Article
Are Intermediate Goods Capital Goods?
Capital goods are those goods that are used by the business for producing the consumer goods. In other words, we... View Article
What Is an Intermediate Customer?
Intermediate customers are regarded as those customers who purchase goods for resale. A final customer does not sell things that... View Article
Is Idli an Intermediate Good?
There is no requirement of further processing in case of Idli. Therefore, idli is regarded as a final good as... View Article
Is Machinery Always a Final Good?
Machinery will be considered as a final good if it is purchased by a consumer for use at home, while... View Article
