The Balance of Payment (BOP) is a record which is systematic in nature and records all economic transaction between the resident of a country and the resident of foreign country. The resident can be any individual, firm and the government of any country. It gives a brief description of the value of all the transaction
Foreign exchange refers to the currency other than domestic currency or the currencies of all the rest of countries other than the domestic one. Foreign exchange rate refers to the rate at which one unit of foreign currency can be purchased by giving domestic currency or it refers to the rate of other currencies (rest
Government Budget refers to the financial statement which contains the performance of the government of the past one year along with the policies and programs that government will make or implement in the next coming year or to keep the data of expected revenues and expenditures of upcoming one year. The programs and policies can
Employment refers to a situation wherein a person works under a contract. Generally, the contract is between two parties for which compensation is received for rendering services whereas unemployment refers to a situation in which one can’t get work or unwilling to work as per his qualification or choice.
The Commercial Bank creates money in an economy and earns profit by providing credit after keeping a sum of reserve as cash reserve for the demand deposit. Banks know from their historic experience that all the depositors do not come to withdraw their money at once.
In economics, the goods are broadly classified into four ways which are as follow. Final Goods: Final goods refer to those goods which are available for the final user for consumption or those goods which have crossed the boundary line of production and no value addition is possible. Intermediate Goods: Intermediate goods are those goods