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| Bank |
Showing posts with label Economics. Show all posts
Showing posts with label Economics. Show all posts
Bank
Bank : Bank is a financial institution. Bank accepts funds on savings account and current accounts. Bank also lends money. The bank accepts the cheques drawn by its customers against their deposits in savings or current bank account and make payments. Bank is like a trader that deals in money and also in credit.
Arbitrage
Arbitrage : A technique employed to take advantage of differences in price.
For example:- XYZ stock can be bought in London for $80 a share and sold in New York at $80.25, an 'arbitrageur' may purchase XYZ stock here and sell the same amt. in New York at the same time, making a profit of $0.25 a share, minus expenses.
"Arbitrage" may also include the purchase of rights to subscribe to a security, or the purchase of a convertible security; and the sale at or about the same time of the security obtainable through exercise of the rights or of the security obtainable through conversion.
For example:- XYZ stock can be bought in London for $80 a share and sold in New York at $80.25, an 'arbitrageur' may purchase XYZ stock here and sell the same amt. in New York at the same time, making a profit of $0.25 a share, minus expenses.
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| Stock Exchange |
"Arbitrage" may also include the purchase of rights to subscribe to a security, or the purchase of a convertible security; and the sale at or about the same time of the security obtainable through exercise of the rights or of the security obtainable through conversion.
Socialism
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| Socialism Symbol |
In 1848, Karl Max and Engels laid down the principles of scientific socialism in Communist Manifesto and Marxism became the theoretical basis for most socialist thought.
Socialism was split in Russia between the reformist Mensheviks and revolutionary Bolsheviks that led to the term Socialism and Communism as they are now generally understood.
Unemployment
In common parlance anybody who is not gainfully employed in any productive activity is called unemployed. However, it can be of two kinds :
(i) Voluntary Unemployment
(ii) Involuntary Unemployment
Here we are concerned with the second category of unemployed persons.
Hence, unemployment can be defined as a situation when persons able and willing to work are seeking jobs at the prevailing wage level but they are unable to get the same.
Types of Unemployment :
(1) Cyclical Unemployment : It is the result of depression in an economy.
(2) Frictional Unemployment : This kind of Unemployment is temporary. It is result of a situation when new industries drive out old ones and workers change over to better jobs.
(3) Open Unemployment : It refers to those who have no work to do even though they are able and willing to do work.
(4) Seasonal Unemployment : This occurs at certain period of the work when work load is comparatively less, and hence people are rendered jobless.
(5) Educated Unemployed : This is mainly found in urban areas. Those educated persons who are unable to get work come under this category.
(6) Disguised Unemployment : It results when a person contributes to production less than what he or she is capable of, for example an engineer working as a clerk under employed.
(7) Compulsory Unemployment : It means the labour power which is ready to work on the current rate but does not get the work.
(i) Voluntary Unemployment
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| Unemployment |
Here we are concerned with the second category of unemployed persons.
Hence, unemployment can be defined as a situation when persons able and willing to work are seeking jobs at the prevailing wage level but they are unable to get the same.
Types of Unemployment :
(1) Cyclical Unemployment : It is the result of depression in an economy.
(2) Frictional Unemployment : This kind of Unemployment is temporary. It is result of a situation when new industries drive out old ones and workers change over to better jobs.
(3) Open Unemployment : It refers to those who have no work to do even though they are able and willing to do work.
(4) Seasonal Unemployment : This occurs at certain period of the work when work load is comparatively less, and hence people are rendered jobless.
(5) Educated Unemployed : This is mainly found in urban areas. Those educated persons who are unable to get work come under this category.
(6) Disguised Unemployment : It results when a person contributes to production less than what he or she is capable of, for example an engineer working as a clerk under employed.
(7) Compulsory Unemployment : It means the labour power which is ready to work on the current rate but does not get the work.
Fiscal System and Fiscal Policy
Fiscal System : It refers to the management of revenue and capital expenditure finances by the state. Hence, fiscal system includes budgetary activities of the government that is revenue raising, borrowing and spending activities.
Fiscal Policy : Fiscal Policy refers to the use of taxation, public expenditure and the management of public debt in order to achieve certain specified objectives.
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| Fiscal System and Fiscal Policy |
Fiscal Policy : Fiscal Policy refers to the use of taxation, public expenditure and the management of public debt in order to achieve certain specified objectives.
Autarchy
Autarchy : It means self-sufficiency and self-reliance of an economy. Autarchy is an indicator of self-sufficiency. It means that the country itself can satisfy the needs of its population without making imports from other countries.
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| Autarchy |
Economics
On PPP (Purchasing Power Parity) basis, India with a per capita GNI of $3768 continues to be in group of lower middle income economies, but with an acceleration in its growth rate of GDP to an average of 8% during 2000 and 2009, India is supposed to enter the group of upper middle income countries, very soon.
China has already entered the upper middle income group.
China has already entered the upper middle income group.
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| Economics |