What is a Foreign Aid ? A foreign aid refers to the transfer of resources from a country that has a relatively high level of income to a country that has a relatively low level of income. It is also known as an international aid or official development assistance. The basic idea behind this type … Read more
Introduction CRR stands for Cash Reserve Ratio. The CRR is a measure of a bank’s liquidity. It is the percentage of its total deposits that the bank sets aside in cash or as cash equivalent. Cash Reserve Ratio is calculated by dividing a bank’s cash and near cash holding by its total deposits. CRR =(Cash … Read more
What are the basic elements of decision making ? How can a manager make an effective decision ? Explain Decision making is a common cognitive process. It is generally the process of evaluating alternatives and choosing a course of action. It is a systematic way of thinking about and solving problems. Decision making is one … Read more
Introduction to Economic Development Before, we define the term ‘Economic Development’, we must know the meaning of Economic Growth. We often misunderstand the term ‘Economic Development’ with ‘Economic Growth’. Economic growth is nothing but the increase in the quantity and quality of the economic goods and services that a country produces. Growth only considers the … Read more
What is money? Describe different forms of money with examples. Why is paper money advantageous? Money is an economic unit which is recognized as a medium of exchange for transactional purposes in an economy. It is widely accepted as a means of payment. Money serves three basic functions: A medium of exchange The exchange of … Read more
