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A Crash Course on Foreign Exchange Markets

The demand for one currency into another decides the fluctuation of foreign exchange transactions. The foreign exchange markets have many different …

Special Drawing Rights and The Floating Rate Era

Special Drawing Rights which is also known as SDRs were created by the IMF as a reserve asset in 1970. Apart from being an international reserve asset it plays …

The International Monetary Fund (IMF)

The International Monetary Fund (IMF) is the international organization which thoroughly oversees the global financial system by following the macroeconomic …

What is Entrepreneurship?

Entrepreneurship is defined as the process of making money, earning profits and increasing the wealth while posing characteristics such as risk taking, …

Consumer Surplus and Producer Surplus

Consumer Surplus is defined as the difference between the price a customer is willing to pay for a product and the price that he actually ends up paying. When …

Similarities Between Goods and Services

In broad terms Goods and services are can be defined as any product that can satisfy human needs and wants. Even thought there are differences between goods …

Use and Problems of Measuring National Income Data

Use of National Income Data As a measurement of standard of living of people- The GNP and GDP statistics are used to measure the standard of living where a …

Calculating National Income

National income (Y) is defined as the total level of output of the economy. There are 03 approaches for  measuring national income and they are as follows: …

Introduction to National Income

National Income (Y) is an the total level of activity of given economy in a particular period. In other words national income measures the total level …

Theories of Economic Development

ROSTOW’S STAGES OF ECONOMIC GROWTH This was provided in 1960 by W. Rostow and he identified five different economic stages for a country. * Traditional …