Monopoly: Definition, Types, Features, Causes, Pros & Cons
Posted inEconomics

Monopoly: Definition, Types, Features, Causes, Pros & Cons

Monopoly may be defined as a market situation where there is only one producer or supplier of a particular commodity that has no substitute and who has the power to influence the price of the commodity to his own favour. The commodity sold by a monopolist is usually differentiated.
Problems of Financial Institutions in Nigeria
Posted inEconomics Finance

Problems of Financial Institutions in Nigeria

Financial Institutions are business organizations which deal in money, though some may deal in other financial assets such as shaves, letters of credit, bills of exchange etc. With the exception of the Central Bank, they make profits by trading in money; that is, through the process of accepting deposits in several ways e.g. offering technical advice etc.
Cheque: Definition, Features, Functions & Types
Posted inEconomics

Cheque: Definition, Features, Functions & Types

A cheque may be defined as an instruction in writing made upon a bank to pay a given sum of money to a named person or bearer, at a specific date only those who operate current accounts in commercial banks make use of cheques.