Business & Finance Question and Answers

Why was GATT changed to WTO?

GATT stands for General Agreement on Tariffs and Trade, which came into existence as a result of failure of efforts to make ITO i.e. International Trade Organization. GATT was enacted in 1947 and it remained ...

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What is difference profit maximization and optimization of profit?

Profit maximization is simply the process of fixing the prices and deciding the total output levels in such a way that maximum profits could be generated. The concept of profit maximization can be touched from ...

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What is the difference between economics and business economics?

Economics Economics is a wider term when compared to business economics. Economics is actually a social science that deals with the study of production, consumption and distribution of goods and services from economic point of view. ...

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Explain Socialist Economies And Inflation?

Socialism is a different type of economic system that is based on the ideology of central ownership of capital. In a socialist economy the central government regulates the magnitude of income that an individual can ...

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What is the role of profit in Business?

A business can simply be defined as an organization that is engaged or involved in the trade of services or/and goods. One of the most important attribute of any business is “Profit”. Profit is the ...

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What are the economic roles of a government?

Government is simply the governing body of a particular state. The term Government simply refers to administrators, legislators and the arbitrators existing in the bureaucracy that regulate or control or administrate a state at a ...

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What is the relation between Currency and Inflation?

A few years back “Gold Standard” was uniformly applicable in the whole world, according to which governments were allowed to publish the currency amounting to the government’s gold reserves only. This system was installed to ...

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What are the effects of globalization and political environment in India?

India was the richest country of the world in ancient times. It is a known fact that Columbus began his journey to find India – the richest land of the world and accidentally discovered America. ...

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What is the strategy of a company to sell product in different countries?

“When in Rome, do as Romans do”, this quotation find its perfect meaning in the world of marketing. Organizations earn profit simply by selling what they produce or what they provide. In shortest words we ...

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What are statutory companies?

The statutory companies are also known as statutory corporations or public corporations, these are actually public bodies established and operated by Statute. A statute is any formal authority created by legislative authority that regulate or ...

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What is a first year allowance?

First year allowance is a concept from the books of British Business Legislation. In United Kingdom, first year allowance is actually a tax benefit that allows British organizations to claim for the eligible machinery purchases. ...

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What is LLC?

LLC means Limited Liability Company. It is a special business structure that has been legally allowed by business legislations of various countries. LLCs are very popular simply because just like a corporation the owners of ...

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What is capital reserve, reserve capital and revenue reserve?

For any person working in Finance domain, it’s very important to understand the difference between the terms capital reserve, reserve capital and revenue reserve. All these reserves are components of general reserve. This article will ...

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What is social environment in business?

Social environment of business simply covers all the social factors that put impact on the business. Businesses always operate in society, so various factors of society like literacy (Educational institutes), awareness, family, religion etc put ...

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How to dissolve a partner from partnership firm?

To explain the dissolution of partnership, let us take a simple citation. Suppose, Jack and Mack were two best friends. They started a business in partnership about 15 years ago. They were earning smart profits ...

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What is Business Ethics?

Ethics is a term that never found a rigid definition in business environment. In general ethics are simply the guidelines that differentiate between the right and the wrong. But, on broader terms there is nothing ...

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What is business communication?

Many people confuse communication as a technique to transmitting and receiving of messages. It is actually a mutual exercise of understanding between transmitter and receiver. Communication plays a very crucial role in business. In business ...

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What is the relation between Legislation and Business Practice?

Law is the guiding authority of society since from ages. Law defines set of regulations to be enforced upon the body of interest so that injustice could be avoided in any aspect of society. Just like ...

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Who is A Company Secretary? What are its responsibilities?

A company secretary is a very senior position in some public organization or in a private company, normally working at a managerial position or even above. In United States of America company secretary is also ...

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Define Internal Environment of Business?

A business can never be profitable if it is ignoring the dynamic internal and external environment. By examining the internal and external environment, an organization develops its long term objectives and then it chooses a ...

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Define International Marketing? What are Specific duties of the International Marketing?

Marketing is clearly known as an organizational function and set of processes for creating, communicating and delivering value to the customers and managing the customer relationship in such a way that is beneficial for the ...

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What is a Monetary Policy?

Monetary policy is basically a process through which the monetary authority of any country regulates the supply of money in economy, often targeting certain rate of interest, specifically with an aim of promoting the economic ...

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What is MBO (Management By Objective)?

MBO (Management by objective) One can take it as an appraisal technique, performance boaster or a motivational effort, in any way MBO finds an importance in modern business work practice. It was early 1900s when researchers ...

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What is a Stock Exchange and what is its Role?

A stock exchange can simply be explained as an entity that provides the services for traders and stock brokers to trade bonds, stocks and various other securities. Stock exchanges also provide the facilities for issue ...

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What is Gross National Income? How GNP is calculated?

The Gross national income or GNI covers the value of all services and products that are produced/generated within the country in one particular year (Which means its GDP, Gross domestic product), along with all its ...

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How To Get Rid Of Private Mortgage Insurance (PMI) Debt?

If there is one “worry” that thousands of working people carry with them every day it’s this: How do I get rid of debt? Most people don’t do anything at all or do far too ...

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What Is Monopoly?

The word ‘monopoly’ refers to a situation in which a single company or an individual holds all or nearly all the market for particular good(s) or service(s). Monopoly is different from cartels which are formed ...

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How to Get Rid of Tax Debt?

When people are faced with a challenge from the Internal Revenue Service or the tax agency in their state often react with fear. If they owe a large amount of money because they were unable ...

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What Is Marketing?

The shortest possible definition of marketing is “meeting the needs profitably”. In strict terms marketing can be defined as an organizational function and set of processes for creating, communicating and delivering the value to the ...

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What Is The International Monetary Fund?

The IMF that is the International Monetary Fund is an international organization that is responsible for managing the global financial system. For this purpose, the International Monetary Fund uses the special macroeconomic policies of its ...

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What Is BHK?

BHK is an acronym which is used mainly by the people in the real estate sector and it stands for Bedroom-Hall-Kitchen. One often comes across terms like 3 BHK apartment for xxx rupees or 2 ...

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How Do Stock Markets Work?

A stock exchange is an institution, organization, or association which hosts a market where shares, bonds etc. are traded. Trading is done during specific hours on business days. The trading is carried out under ...

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What is Marketing Research?

The shortest definition of the term marketing is “meeting the needs profitably”. According to the American marketing association i.e. AMA, marketing is an organizational function and set of processes for creating, communicating and delivering value ...

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What is International Marketing Strategy?

Marketing can simply be defined as an organizational function and a set of processes for creating, communicating and delivering the value to the customers and managing the customer relationships in such a way that is ...

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What is Inflation?

In terms of economics, inflation can simply be defined as an elevation in the general price levels of services and goods in the economy over a particular period of time. Whenever the price level increases ...

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What are FMCG?

Fast Moving Consumer Goods (FMCG) are the products which are used or sold quickly. They include products such as soaps, toothpastes, cold drinks, batteries, paper products etc. FMCG don’t give the manufactures a big profit per ...

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What is Global Strategic Planning?

Global strategic planning is a process adopted by multi national organizations in order to formulate an effective global strategy. GSP is a process of evaluating the internal and external environment by multinational organizations, through which ...

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What is Capital Structure?

In strict terms of finance, capital structure reflects the way in which a corporation finances its assets by using some combination of debt, hybrid securities or equity. In actual practice, a firm's capital structure is ...

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What is the concept of risk and return?

An activity in which an entity puts some financial resources with an expectation of amplified returns is known as investment activity. For any investment the major concern for investors is always the “return”. But as ...

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What is Working Capital Management?

The capital involved in any business enterprise can broadly be classified into two categories—working capital and fixed capital. Actually, every business needs funds for two purposes—for its establishment and to carry out its day- to- ...

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