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Sia ? 6 years, 4 months ago
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Central Bank |
Commercial Bank |
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(i) Central Bank functions as the apex bank of the country. It is a bank of all the banks. |
(i) Commerdal banks functions according to the rules and regudations stipulated by the central bank. |
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(ii) The central bank designs and controls all instruments of monetary policy of the country. |
ii) Commercial banks only executes the monetary policy as directed by the central bank. |
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(iii) Central bank is the sole authority of note issuing. |
(iii) Commerdal banks contribute to the flow of money only by a way of credit creation. |
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(iv) Central bank does not deal directly with the general public. |
(iv) Commercial banks deal directly with the public. |
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(v) Central bank does not accept any deposits or advance loans. |
(v) Commercial banks accept deposits and advance loans. |
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vi) The central bank focuses on social welfare. |
(vi) The commercial bank focuses on profit maximisation. |
Posted by Ekamjot Saini 6 years, 4 months ago
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Sia ? 6 years, 4 months ago
Balance of trade refers to difference between amount of exports and imports of visible items. It may be favourable,unfavourable or in equilibrium.
Posted by Rohit Sharma 6 years, 4 months ago
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Sia ? 6 years, 4 months ago
All persons living under one roof having either access to a public area or a separate cooking facility. Where the members of a household are related by blood or law, they constitute a family.
Posted by Pravesh Nagwani 6 years, 4 months ago
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Yogita Ingle 6 years, 4 months ago
Nelson has presented the theory of low-level equilibrium trap for the UDCs. This theory is based upon 'Malthus' view that when per capita income of a country rises above the 'Minimum Subsistence Wage', the population will tend to increase. Initially, the population grows rapidly with an increase in per capita. But when the growth rate of the population reaches an upper physical level, it starts declining with a further increase in per capita.
In other words, in the beginning, the increase in per capita income leads to an increase in the population. Afterward, the increase in the per capita income leads to decrease population.
According to Nelson, the UDCs have a stable equilibrium of per capita income which is close to subsistence requirements. Hence, savings and investment remain at a very low level. Thus whenever, the efforts are made to raise the level of NI, savings, and investment they also resulted in an increase in the population. Accordingly, the per capita income remained at its stable equilibrium level. All this means that UDCs are caught in a low-level equilibrium trap.
Posted by Pravesh Nagwani 6 years, 4 months ago
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Sia ? 6 years, 4 months ago
Differences between consumer goods and capital goods are
<th scope="col">Basis</th> <th scope="col">Consumer Goods</th> <th scope="col">Capital Goods</th>| Meaning | These goods are purchased by consumers for the satisfaction of their wants. | These goods are purchased by manufacturers and producers for the production of other goods. |
| Use | These are for own use. | These are used for the production of final goods and services. |
| Demand | Direct demand as they directly satisfy the human wants. | Derived demand as their demand depends upon the demand of consumer goods. |
| Expected Life | Most of the consumer goods ( except durable goods) have limited expected life. | Capital goods generally have an expected life of more than one year. |
| Example | Bread, butter, jam, etc. | Plant and Machinery, equipment, etc. |
Both of these are final goods as they have crossed the boundary of production and are not for resale and does not involve any value addition.
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Yogita Ingle 6 years, 4 months ago
GATT was transformed into World Trade Organisation (WTO) with effect from 1st January 1995. The headquarters of WTO are situated at Geneva, Switzerland.
Objectives of WTO
(i) To ensure reduction of tariffs and other trade barriers imposed by different countries.
(ii) To engage in such activities which improve the standards of living, create employment, increase income and effective demand and facilitate higher production and trade.
(iii) To facilitate the optimal use of the world’s resources for sustainable development.
(iv) To promote an integrated, more viable and durable trading system.
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Shivam Singh 6 years, 4 months ago
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