Merchant Banks: Definition, Functions & Examples
A merchant bank is a ‘wholesale bank’ which deals in large sums of money and whose main functions are: issuing of shares and dealing in discounting and acceptance of bills.
Posted inEconomics
Insurance Company: Definition, Roles & Functions
Insurance Company Meaning An insurance company is a financial institution whose primary function is to receive premiums and enter into contract with individuals and organizations (the insured) with the purpose…
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.
Posted inEconomics
Trade by Barter: Definition, Problems, Pros & Cons
Trade by barter is the direct exchange of goods for goods, goods for services, or services for services. It was a system of exchange which was in use before the introduction of money.
Posted inEconomics
Inflation: Definition, Types, Causes, Effects & Control of Inflation
Inflation refers to a persistent and sustained rise in the general price level. A general phenomenon during a period of inflation is a continuous fall of the value of money in the economy.