Fiscal Policy

1. What is public finance? Public finance or government finance is a field of economics. It deals with budgeting the revenues and expenditures of government (or public sector). 2. What is Fiscal economics? Fiscal economics is another name for public finance. 3. What was the role of government in early …

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Monetary Policy

1. What is the importance of money? Money has become so important that the modern economy is described as money economy. Modern economy cannot work without money. 2. What is barter system? Barter is the direct exchange of goods for goods. It is a system of trading without the use …

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Human Resource Development

1. What is HRD? The term ‘Human Resource Development’ (HRD) is used with different meanings in different contexts. According to F.H. Harbison, human resources are “the energies, skills, talent and knowledge of people which are, or which potentially can or should be applied to the production of goods or the …

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Foreign Trade

1. What is globalization? The term “Globalization” means the integration of the economy of each country with the world economy. 2. What are the trends in globalization? 1) Spread of international trade. 2) Increasing migration of people. 3) Increasing flow of money or means of payments. 4) More capital flows. …

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