Posted inEconomics
Commercial Bank: Definition, Features, Functions & Problems
A commercial bank is a joint-stock financial institution which trades in money with the sole aim of raising profits for its shareholders.
Posted inEconomics
Capital Market: Definition, Functions & Advantages
The capital market is a financial market for trading in, long-term financial assets. It is a market for long-term loans and investments. It consists of people and organizations who wish to lend out money or to borrow on a long-term basis.
Posted inGovernment & Politics
National Income: Definition, Uses, Problems & Limitations
National income is the monetary value of all goods and services produced in a country in a year or the totality of income accruable to all factors of production employed in producing goods and services in the year in the country such as wages, salaries, rents, interests and profits. It is equal to NNP - Indirect Business Taxes.
Posted inEconomics Finance Government & Politics
West African Clearing House (WACH) – Aims & Objectives
West African Clearing House (WACH) is form on July 1, 1976 was largely due to the efforts of the Governors of the Central Banks in West Africa to find a solution to one of the obstacles to trade among West African countries.
Posted inGovernment & Politics
Difference Between Capitalism and Socialism
Capitalism may be defined as an economic system in which all or most means of production are owned and controlled by private individuals and in which the economic activity of the government is at a minimum while Socialism is an economic system where the state takes the major economic decisions through detailed planning. Countries that adopt this system do not believe in the efficacy of market forces.