A country where the average income of people is much lower than that of developed countries, the economy depends upon a few crops and where farming is conducted by primary methods is called developing country. “A developing country is that in which per capita income is low when compared to the per capita incomes of U. S. A, Canada, Australia and Western Europe.” According to … [Read more...] about Characteristics of Developing Countries
Economy
Easy Guide to Open Bank Account for Freelancers in Pakistan
Opening a bank account was a baby’s task some years back. It’s still simple and easy but due to many different unethical and unauthorized activities in Pakistan, it needs some banking processes (ordered by State Bank of Pakistan) to follow for opening a Bank Account. Basic Types of Banking Accounts 1. Current Account 2. Savings Account In Current account, you deposit … [Read more...] about Easy Guide to Open Bank Account for Freelancers in Pakistan
Importance of Economics
“Political economy is perhaps the only science of which it may be said that the ignorance of it is not merely a deviation of good but produces great positive evil.”In the words of Malthus, “Economics is the intellectual religion of the day.”Durbin “The study of Economics is a practical necessity and a normal obligation.”Sir Henry Clay All it reflects that Economics … [Read more...] about Importance of Economics
Importance of Economics in Daily Life
Economics plays a crucial role in our daily life. Each decision like make purchase of something represents the economic implications. Importance of economics in daily life can be analyzed by seeing its implications among its different branches. The important branches of economics are Micro, Macro, Managerial, Monetary and International economics etc. Importance of … [Read more...] about Importance of Economics in Daily Life
Advantages and Disadvantages of Paper Money [ Updated with Types ]
Paper Money defined as currency note used as medium of exchange and issued by State Government. People consider currency notes is a kind of money which performs all the function as good medium of exchange. Paper currency is convertible in the sense that it may convert in to gold and precious metals while it may inconvertible because it is not exchangeable in to coins. Now a … [Read more...] about Advantages and Disadvantages of Paper Money [ Updated with Types ]
Causes of Business Cycle – The Crucial Indicators Affecting Business
Nature is diversified, so the humans too. Humans tried to be economically prosperous by using different art and tricks of business. In ancient times they use to adopt hunting, fishing and by farming and crops to survive economically. They often use barter system in this regard. When there are prosperous times in economy & business so does depression/recession exit also, … [Read more...] about Causes of Business Cycle – The Crucial Indicators Affecting Business
Pakistan’s Election System – Types of Election in Pakistan
Election mean choosing or selection of candidates for an office by vote. Its play pivotal role in democracy. It is fair and legal way to gain power in country. It is not something novel, it has been in vogue for centuries. We have it is traces Ancient Greece. The Roman Empire and more defiantly in the caliphate period. Types of Election in Pakistan Election is mainly of two … [Read more...] about Pakistan’s Election System – Types of Election in Pakistan
Importance of Zakat
The only reason for the importance of Zakat is that it is an important pillar of Islam. Different scholars may have different definitions of Zakat but in simple words, "Zakat is Purification of money". Zakat is due after 1 year of keeping the asset. These assets include everything excess from your needs. Zakat is totally different from Tax as the tax is imposed by National … [Read more...] about Importance of Zakat
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