Definition: Money refers to an economic measure that acts as a commonly accepted exchange medium, to pay for goods and services, repay debts, and settle various transactions. Further, those exchanges which are carried out without the mediation of money are called as a barter exchange. In finer terms, money is a man-made creation, which is introduced with an aim of overcoming … [Read more...] about Money
Small Scale Industries (SSI)
Definition: Small Scale Industry (SSI) refers to an industrial undertaking whose investment in fixed assets, i.e. plant and machinery, is not less than ₹ 1 crore, be it is owned, leased, or hire purchased. Nevertheless, considering the needs of small-scale industries which are dependent on export promotion and modernization, the maximum investment in fixed asset is ₹ 5 … [Read more...] about Small Scale Industries (SSI)
Credit Control
Definition: Credit Control is a function performed by the Central Bank (Reserve Bank of India), to control the credit, i.e. the demand and supply of money or say liquidity in the economy. With this function, the central bank regulates the credit granted by the commercial banks to its customers. It aims to achieve economic development with stability as well as to manage the … [Read more...] about Credit Control
Barter System
Definition: The barter system is a system of exchange, which was prevalent in the world centuries ago, before the introduction of the monetary system. In this arrangement, goods and services are traded for goods and services. This means that the parties exchange each other's commodity directly without any mediation of money on the basis of equivalent estimates of price and … [Read more...] about Barter System
Goods and Services Tax (GST)
Definition: Goods and Services Tax (GST) is based on the phenomenon of 'one nation, one tax'. It is a single tax that is levied on the supply of goods and services. Also, for the imposition of taxes, no difference is made between goods and services. Further, it has been implemented to subsume various indirect taxes, on which tax is levied at different rates, by Central and … [Read more...] about Goods and Services Tax (GST)
Industrial Sickness
Definition: Industrial Sickness, as the name suggests is the state of industrial weakness or illness, i.e. the company fails to earn a reasonable profit. It is the continuous disproportion in the debt-equity ratio and falsification of the financial status of the industrial unit. Industrial Sickness represents a stage wherein the firm is not in a position to generate a … [Read more...] about Industrial Sickness
Family Business
Definition: Family business, as the name suggests, is the business which is actively owned, operated and managed by two or more members of the single-family. Here, members may be related by blood, marriage or adoption. Basically, in a family business: Single-family owns majority percentage of ownership Possess voting control, Has power over strategic decisions, … [Read more...] about Family Business
Social Entrepreneurship
Definition: Social Entrepreneurship refers to a process of doing business with an aim of resolving the most serious and daunting, social, cultural and environmental issues and improve the lifestyle of the people living the community. It is an initiative by the individuals or companies, in which they set up, fund and come up with solutions to these problems. For this purpose, … [Read more...] about Social Entrepreneurship
Rural Entrepreneurship
Definition: Rural entrepreneurship refers to the development of a new enterprise which pioneers new products and services, creates a new market for its offerings or uses advanced technology, in the rural area. In simple terms, the entrepreneurship which springs up in non-urban areas is termed as rural entrepreneurship. This leads to the establishment of industrial units in … [Read more...] about Rural Entrepreneurship
Depository Receipt (DR)
Definition: Depository Receipt refers to a negotiable instrument, denominated in a foreign currency and is traded in the foreign stock exchanges, representing a fixed number of issuer company's publicly traded domestic currency equity shares. In finer terms, Depositary Receipt implies a negotiable certificate, which the Depository Bank issues to the foreign investors, … [Read more...] about Depository Receipt (DR)