Definition: National Income refers to the money value of all the goods and services produced in a country during a financial year. In other words, the final outcome of all the economic activities of the nation during a period of one year, valued in terms of money is called as a National income. In the above definition, the economic activities include all the human activities … [Read more...] about National Income
Peak Load Pricing
Definition: The Peak Load Pricing is the pricing strategy wherein the high price is charged for the goods and services during times when their demand is at peak. In other words, the high price charged during the high demand period is called as the peak load pricing. This type of price discrimination is based on the efficiency, i.e. a firm discriminates on the basis of high … [Read more...] about Peak Load Pricing
Transfer Pricing
Definition: The Transfer Pricing is a price charged for the goods and services supplied by one division to the other division of the same company. In other words, the price at which two or more divisions of the same enterprise transact with each other is called as Transfer Pricing. Often, the larger sized firms divide their production activities into different product … [Read more...] about Transfer Pricing
Post Office Recurring Deposit Account
Definition: The Post Office Recurring Deposit Account works on the same principle as that of the recurring deposit account in a bank, where the investor can deposit a fixed sum of money on a monthly basis. It is a scheme offered by the department of post and backed by the government of India on which fixed interest is paid. The salient features of the Post Office Recurring … [Read more...] about Post Office Recurring Deposit Account
Post Office Monthly Income Scheme
Definition: The Post Office Monthly Income Scheme is a saving scheme backed by the government of India on which fixed interest is paid. This scheme is offered by the department of post and aims at providing regular monthly income to the depositors. The post office monthly income scheme offers several features to help investors to earn regular monthly returns on the deposits. … [Read more...] about Post Office Monthly Income Scheme
Post Office Time Deposits
Definition: The Post Office Time Deposits are a saving scheme offered by the Indian Postal Service on which a fixed interest is paid. Often, the investors deposit a good chunk of their financial assets with a view to earning a fixed interest on it. The Post Office Time Deposits are similar to the fixed deposits of commercial banks (a saving or term deposit account opened in … [Read more...] about Post Office Time Deposits
Post Office Savings Account
Definition: The Post Office Savings Account is the deposit scheme offered by the department of post on which fixed interest is paid. The individual investors deposit a good portion of their financial assets in a postal savings account in order to earn a fixed rate of interest on the investments. The post office savings account is similar to a saving bank account ( a portion … [Read more...] about Post Office Savings Account
Employee Provident Fund
Definition: The Employee Provident Fund, popularly known as PF is the retirement saving scheme available to all the salaried employees, is backed by the government on which fixed interest is paid. The employee provident fund is administered by the Employees Provident Fund Organization (EPFO), a statutory body developed by the government of India under the Ministry of Labor … [Read more...] about Employee Provident Fund
National Pension Scheme (NPS)
Definition: The National Pension Scheme or NPS is a Government backed voluntary saving scheme that aims at inculcating saving habits for retirement amongst the citizens. It is designed to encourage systematic saving during the subscriber’s working life with an aim to offer old-age income or fixed retirement income to all the citizens of India, even NRIs. The NPS (National … [Read more...] about National Pension Scheme (NPS)
Atal Pension Yojana
Definition: Atal Pension Yojana, popularly known as APY Scheme is the government pension scheme offered to those individuals who are employed in rural and the unorganized sectors and are not the members of any social security scheme. The Atal Pension Yojana was named after Mr. Atal Bihari Vajpayee, ex-Prime Minister of India. The aim of this policy is to provide the fixed … [Read more...] about Atal Pension Yojana