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Commercial Banks
A Commercial Bank is a financial institution which undertakes all kinds of ordinary banking business like accepting deposits, advancing loans and is a member of the clearing house i.e. operates or has a current account with the Central Bank. They are sometimes known as Joint Stock Banks.
Gold Although currently no country uses gold as its national currency, gold has a long history of use as commodity money and has almost universal acceptability. Gold is still
Market Structures This refers to the nature and degree of competition within a particular market. Capitalist economies are characterised by a large range of different market
Average Propensity to save The Average Propensity to Save [APS] is defined as the fraction of aggregate national income which is devoted to savings. Thus if S denotes savin
Explain about the marginal analysis. The optimal quantity of an activity is the level which produces the maximum probable total net gain. The principle of marginal analysis
ROLE OF SCARCITY IN MANAGEMENT DECISION MAKING
Marginal utility approach The downward sloping nature of the demand curve can be explained by using the law of diminishing marginal utility . For instance, consider a consum
Advantages of Planned System i) Uses of resources : Central planning can lead to the full use of all the factors of production, so reducing or ending unemployment. ii
Statistical technique used to estimate economic variable Some statistical techniques are used to estimate economic variables of interest to a manager. In a number of cases, sta
Danger of over-specialising A country may feel that in its long-term interests it should not be too specialized. A country may not wish to abandon production of certain
law of demand
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