Meaning of Bank: Different Types of Banks

Banks are financial institutions that are licensed to accept deposits and loans. Banks may also offer financial services such as wealth management, currency exchange, and safe deposit boxes. There are different types of banks, including Development banks, Commercial bank, Merchant banks, and Mortgage banks etc. In most countries, banks are regulated by the national government … Read more

Balance of payments

     Balance of payments can be defined as the systematic record or summary statement of accounts of all the major economic or trading transactions between a reporting country and the rest of the world, during a specific period, usually one year. Balance of payments is a summary of receipts (income) and payments (expenditure) of a country in the … Read more

Economic Integration

  WHAT IS ECONOMIC INTEGRATION?                  Economic integration is a condition of international trade in which all trade barriers and restrictions are removed. There is perfect capital mobility, complete freedom of migration, complete freedom of establishment of businesses, and unhindered flow of information and technology. As stated above, economic integration is … Read more

Introduction to money and trade by barta

Trade by Barter       Trade by barter is the direct exchange of goods for goods, goods for services, or services for services. It was a system of exchange that was in use before the introduction of money. Problems of a trade by barter1) Problem of double – coincidence of wants: It was time-consuming and energy-sapping … Read more