An underdeveloped country has one or some of the following characteristic in common: 1. These countries has low reservoir of natural resources. 2. The economy is backward, often aggregation economy, which many a times suffers unpredictable natural climatic condition. 3. Low level of industrialization. 4. Low level of employment. 5. Plagued by un-employment, under-employment, disguised … Read more

All of these are carried out on different levels of planning and have a great role to play in it.

Strategic Plan: Is a plan which is processed, monitored and evaluated and then analyzed to expend the plan by improving skills towards achievements. Tactical Plan: Is a plan which is implemented to improve thoughts on how to change the process. Operational Plan: Is a plan which is used to expect an ability to do and … Read more

A very simple stock register, where stock changes can be entered manually, can be created using an Excel spreadsheet. The following example uses a PLU, or stock code, a stock description, a minimum stock level, stock in, stock out and a field displaying the total stock balance. After opening a new blank workbook, type the … Read more

Stock registers are used to keep track of a company's stock issue history. This, in turn, helps keep track of a company's shareholders and raise money. In order to maintain a stock register successfully you will need to be efficient at updating the register as and when any changes take place. A typical stock register … Read more

It is difficult to say without seeing how it has been set up in the first place. Usually the person or department which has set up the register should be able to provide details of how to upkeep and maintain it. The best way to ensure you are doing it in the most efficient and … Read more

ECONOMIC OBJECTIVES OF GOVERNMENT (Aims of government’s economic policy)   The main objectives are; 1. A high and stable level of employment 2. A relatively stable price level. 3. A satisfactory balance of payments position. 4. High rate of economic growth 5. A more equal distribution of income and wealth.       Objectives of economic policy Economic policy … Read more

In general, economists judge macroeconomic performance by looking at a few key variables, the most important being gross domestic product, the unemployment rate, and inflation. Let's start by looking at gross domestic product, or national output. The ultimate objective economic activity is to provide the goods and services that the population desires. What would be … Read more

Indicator of Economic Conditions:- From the N.I statistic of a country we know the economic position of a county. If the income of a country is increasing it shows the development of this country and vice versa It also show whether it is an actual increase or increase in monetary terms. From keeping all these … Read more

Various utilities of the national income estimates can be described as below: 1 National income estimates help us to know this performance of an economy during one year and over a period of years. 2 National income estimates also tell us about the economic welfare enjoyed by the people. We can know the per capital … Read more

The purchasing power parity theory was first stated by John Wheately in 1882. It was restated by David Ricardo. However it was developed on scientific line by Sustav Cassel who is a Swedish economist. According to this theory under inconvertible paper standards, the external value of currency depends on the domestic purchasing power of that … Read more

A variety of methods can be used for calculating national income. The three primary methods used for calculating national income are: 1) output approach 2) income approach and 3) expenditure method.  In output method, you can use overall sum of total goods and services produced by the economy to reach to the national income figure. … Read more

Macroeconomic objectives Broadly, the objective of macroeconomic policies is to maximise the level of national income, providing economic growth to raise the utility and standard of living of participants in the economy. There are also a number of secondary objectives which are held to lead to the maximisation of income over the long run. While … Read more

The word medium can be used in a number of ways. But in all contexts, it is a mode of two ends to communicate. For example, if heat waves are conducted through the air then air is the medium. You cannot produce any sound in a vacuum because a medium (air) is missing for the … Read more