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Functions of money
...1. Money as a Medium of Exchange:The function of money as a medium of exchange solves all the difficulties of barter system. There is no necessity for a double coincidence of wants in the money economy. The man with cow who wants to purchase cloth need not seek a cloth seller who wants a cow. He can sell his cow in the market for money and then purchase cloth with the money obtained. 2. Money as M.... 
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Objectives of business
...g national goals such as promoting social justice, increasing valued added goods for exports, finding out better and cheaper substitutes for imports and helping in increasing exports for building the foreign exchange reserves to meet the import bills.... Read
Barter system
...Barter System is that system in which goods are exchanged for goods. In ancient times when money was not invented trade as a whole was on barter system. This was possible only in a simple economy but after the development of economy, direct exchange of goods without the use of money, was not without defects. There were various defects in this system. These were the following; 1. Double Coincidence.... Read
Monetary standards
...not convertible directly or indirectly into any metal, it will be called paper standard. Monetary Standards4. Exchange Standard:If any country keeps the value of standard coins fixed in terms of some foreign money for purposes of foreign trade, the monetary standard is called exchange standard..... 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
...TRANSACT APPROACHIrving Fisher an American economist, put forward the Cash Transaction Approach to the quantity theory of money. He in his book The Purchasing Power of Money (1911) has stated that the value of money in a given period of time depends upon the quant t money in circulation in the economy It is the quantity of money which determines t general price level and the value of money Any cha.... Read
One man control is best in the world
...What is Meant By One Man Control? One man control or one man business (also called sole proprietorship) is the simplest form of business organization. The description ‘One man business’ or ‘one man control’ is sometimes con as misleading one, as there may be more than one persons working as employees in the business. The essential condition of one man control or one man business is that it.... 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
Merchant banks
..., for a consideration in the form of commission. Gradually the merchant became a banker specializing in the accepting of bills for other merchants.Afterwards, merchant banks (bankers) started issuing foreign bonds for overseas governments who lacked capital. The issue of these bonds was only possible if the names of famous houses appeared in association with the issue. The merchant banks (bankers).... Read
Importance of money market
... financing the domestic as well as international trade. The traders can get short term finance from banks by discounting bills of exchange. The acceptance houses and discount market help in financing foreign trade.(iii) Profitable investment: The money market helps the commercial banks to earn profit by investing their surplus funds in the purchase of. Treasury bills and bills of exchange, these s.... Read
Motorola defy vs motorola cliq 2 which one to buy
...Motorola Phones are in great demand these days as they are innovative and are built with the younger generation in mind. When it comes to Motorola brand it conjures a brand that brings the phone goes with our busy social life and life style. Both Motorola Defy and Motorola Cliq2 is Android Smartphones having unique Motoblur user interface. Defy runs on Android 2.1 whereas Motorola Cliq2 runs on An.... Read
Balance of payment
...t are drawn after recording all the visible and invisible items that are imported and exported from the country. Balance of payment, as such, provides a comprehensive statment over the net results of foreign trade and gives a true picture as to where the country stands in the international trade.Balance of payment clearly exposes the economic viability, strength, and capability by correctly measur.... Read
Alibaba china ali baba group
...Alibaba (SEHK: 1688) a Hangzhou-based e-commerce/e-auction company, specializing in global trading. It was founded in 1999 by Ma Yun (Jack Ma), and operates five e-commerce sub-companies which operate different aspects of trading.In 2008, Alibaba.com attracted at least 23 million visitors[1] of which 65 percent were from China.Business The English-language web site alibaba.com specializes in busin.... Read
Letter of credit
...ent issued by a bank or other financial institution to a borrower who is allowed to thaw a bill of exchange on the institution and is accepted automatically. The letter of credit is used in local and foreign trade. The buyer requests his bank to open an L/C addressed to the seller in the foreign country or other city within a country. The exporter or seller obtains the payment by presenting all ne.... Read
Stock exchange
...A stock exchange, share market or bourse is a corporation or mutual organization which provides facilities for stock brokers and traders, to trade company stocks and other securities. Stock exchanges also provide facilities for the issue and redemption of securities, as well as, other financial instruments and capital events including the payment of income and dividends. The securities traded on a.... Read
Cash balance approach to the quantity
...THEORY OF MONEYThe cash balance approach to the quantity theory of money was developed by a group of Cambridge economists in England which included Alfred, Marshall, AC. Pigou, Robertson and J. M. Keynes’ The approach of Cambridge economists to the quantity theory of n differs significantly from the Fisher’s approach. Fisher’s approach was based on the medium of exchange function of money. T.... Read
Inflation in pakistan
...sed $3.90 billion dollars. The workers remittances, no doubt a boon for the country, has also resulted in the expansion in aggregate demand for goods and so a factor in the general rise in prices.(v) Foreign economic assistanceFor rapid economic development, Pakistan has been receiving foreign aid since early 50’s. The foreign debt outstanding is 36.6 billion dollars by April, 2005. The tied and.... Read
Best honeymoon tourist destinations in north india
...s for honeymoons tours in North India that can be visited and explored on your Indian honeymoon trip are: Shimla, Himachal Pradesh: Shimla is the all time favorite honeymoon destination of Indian and foreign tourists. It comprises the magnificently of beautiful and highly gigantic mountains and breathtaking falling snow which strikes the mind of tourists and make their honeymoon experience the bes.... Read
Functions of state bank of pakistan
...2. The State Bank of Pakistan will continue performing its four basic functions (i) Framing and operation of monetary policy (ii) Regulations and supervision of banks and financial institutions (iii) Foreign exchange management and (iv) Settlements of payments and accounts. The basic functions performed by SBP are now discussed in brief.1. State Bank as a Bank of Issue. The State Bank has the sole.... Read
Difference between bill of exchange and cheque
...DIFFERENCE BETWEEN A BILL OF EXCHANGE AND A CHEQUEAlthough a cheque is defined as a bill of exchange, yet it differs from a bill of exchange in the following respects.Cheque:(1) A cheque is always drawn on a bank.(2) A cheque is always payable on demand.(3) A cheque does not require acceptance.(4) No days of grace are allowed for payment on cheque. It is immediately payable on demand.(5) A cheque .... Read
