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Objectives of business
...easing the standard of living of the members of the society. (iv) Cooperation with the government The business community should adopt a positive approach towards the policies of the government of the country. They should pay all taxes and dues in time to the gqvernment. All business activity should be carried within the legal frame work of the country.(v) Use of national resources The business sho.... 
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Importance of business in the present day world
...roduced should reach the consumers at the right place, right time and at right price also. Business due to seif-intefest of earning profits, provides goods to the peop’e both within and outside the country. The transport industries facilitate the movement of goods from one place to another where they are wanted. Finance, banking and insurance greaUy contribute in the financing of business. Witho.... Read
Types of cheques
...d against any cheating or theft. Importance of cheques(i) A cheque is a convenient and safe method of making payments.(ii) Cheques facilitate transfer of funds from one place to another and from one country to another country.(iii) The use of cheques provides safety to money deposited into bank.(iv) Payment by cheque can serve the purpose of receipt also.(v) There is saving in the use of currency.... Read
Bill of exchange sample
...Bill of ExchangeA bill of exchange is playing an important part in the commercial life of the country. The need for it arises where the buyer Purchase goods needs a period of credit before paying it. It is drawn by the creditor and is accepted by the debtor.According to F.W. Muller, a bill of exchange is an unconditional order in writing addressed by one person to another, signed by the person giv.... Read
Quantity theory of money by irving fisher
...money is halved. Similarly if the quantity of money is halved the price level will behave and the value of money doubled.In Fisher’s Cash Transactions Version of Money, the general price level in a country, like the prices of commodities, is determined by the supply of and demand for money.(a) Supply of Money: The supply of money consists of the quantity of money in circulation (M) and the veloc.... Read
Monetary standards
...The way the currency of a country is issued, managed and regulated called the monetary system of the country. Monetary standards may be of different kinds. 1. Monometallism:If one metal is the ultimate measure of value in the country standard will be metallic. If one metal is the standard that monometallism. If that metal is gold it will be called gold standard similarly if that is silver it will .... Read
Factors affecting working capital
...iness will need a greater amount of working capital. In capital intensive industries lesser amount of working capital is required.(9) Price level changes. If the prices are rising very rapidly in the country the business will require greater amount of working capital to maintain the same current assets and vice versa.(10) Rate of turnover. If in a business, the sale is faster i.e., a business has .... Read
Deficit financing
...-developed countries deficit financing may be in two forms: a) Difference between overall revenue receipts and expenditureb) Deficit financing may be equal to borrowing from the banking system of the country..... Read
Kinds of inflation
...by aggregate supply of goods, resulting in rise of general price level, is called Demand Pull Inflation. Demand pull inflation, to be more simple, occurs when the demand for goods and services in the country is more than their supply. The effective demand for goods increases due to many factors such as increase in money supply, increase in the demand for goods by the government, increase in the in.... Read
Role of commercial banks in the economic development of a country
...Commercial banks play an important and active role in the economic development of a country. If the banking system in a country is effective’, efficient and disciplined, it brings about a rapid growth in the various sectors of the economy. The economic significance of commercial banks is given in brief.(1) Banks promote capital formation. The commercial banks play an important role in rising of .... Read
Sources of bank funds
...ank, the larger will be its (use) fund for employment and so higher are its profit.1. Borrowing from central bank. The commercial banks in times of emergency borrow loans from the central bank of the country. The central bank extends help as and when financial help is required by the commercial banks.2. Other sources. Bank also raise funds by issuing bonds, debentures, cash certificates etc. etc. .... Read
Importance of money market
...IMPORTANCE OF MONEY MARKETIf the money market is well developed and broad based in a country, it greatly helps in the economic development of a country. The central bank can use its monetary policy effectively and can bring desired changes in the economy for the industrial and commercial progress in the country. The importance of money market is given, in brief, as under:(i) Financing Industry: A .... Read
What is form i 797
...pplication.Receipt Date, the date your application was received by USCIS. Priority Date, is your place in the waiting list queue. This date depends on the preference category you come under and the country of birth. If your priority date is the current date, it means that a visa is immediately available.Notice Date.Type of notice, whether it is USCIS Approval or receipt.Class, what category y.... Read
Remedies of inflation
... other measures:(1) Monetary PolicyMonetary policy is a policy that influences, the economy through changes In the ‘money supply and available credit Monetary policy is adopted by central bank of a country. The various monetary measures which are used to control inflation are grouped under two heads (a) Quantitative controls (b) Qualitative controls. They are (1) Open market operations (ii) Vari.... Read
Cash balance approach to the quantity
...ney.According to Cambridge economists, the demand for money as a store of wealth, which is Robertson called as ‘money on the wings’ is directly influenced by the level of people’s wealth in the country. As national income grows, the people’s desire to hold money in cash also rises and vice versa.KEY CAMBRIDGE EQUATIONSThe Cambridge economists have explained the cash balance approach to the.... Read
Functions of state bank of pakistan
...lects the public demand for money. The amount of notes in circulation can be increased to meet the public demand and are adjusted according to the general level of prices and economic activity in the country. The assets of the Issue Department are always equal to liabilities. .2. Framing and Operation of monetary policy. The State Bank of Pakistan frames and operates the monetary policy. Monetary .... Read
Methods of note issue
...of gold. The level of currency backing by gold is fixed at Rs. 1200 million in Pakistan. The merit of this system is that it ensures an adequate supply of currency to meet the business demands of the country. In other words, the method of note issue is sufficiently elastic. The demerit is that paper currency issued is practically inconvertible in this system..... Read
Promissory note
...sory note must be payable to a definite person. The payee must be certain. The promissory note can’t be made payable to the maker himself.(7) It must bear stamp at the rate prescribed by law of the country.(8) There are two parties to a promissory note.(i) Maker. He is the person who draws and signs the promissory note and promises to pay the amount.(In the specimen of promissory note given belo.... Read
Methods of exchange control
...o main heads. (1) Unilateral Methods and (2) Bilateral or Multilateral Methods.(A) Unilateral Methods.Unilateral methods are those methods of exchange control which are adopted by the government of a country without any consultation or understanding with any other country. The main methods under this head are as follows:1. Exchange pegging. Exchange pegging means the act of fixing the exchange val.... Read
Multiplier and accelerator theory
...MULTIPLIER AND ACCELERATOR THEORYThe Keynesians, have offered a demand side explanation of the business cycle. According to them, the fluctuations in output and employment in the country are caused by fluctuations in aggregate demand. The ups and downs in aggregate demand are caused by changes in the volume of investment. The volume of investment is directly related to the marginal efficiency of c.... Read
