Economic systems: Economy is the nature of economic life under a particular social system. The basic nature of any economy lies in the scarcity of its productive resources in relation to its wants. An economy is constantly engaged in the solution of this eternal problem of scarcity. It undertakes various activities whereby the available supply …

Canons of taxation refer to the administrative aspects of a tax. They relate to the rate, amount method of levy and collection of a tax. In other words, the characteristics or qualities which a good tax should possess are generally described as canons of taxation. Considering the suitability of canons of taxation, taxing regulatory authority …

Foreign exchange markets are the institutional frameworks within which currencies are bought and sold by individuals, corporations, banks and governments. Trading in currencies no longer occurs in a physical marketplace or in any one country. London, New York, and Tokyo, the major international banking centres in the world, have the largest share of the market, accounting for …

Capital market instruments are fixed-income obligations that trade in the secondary market, which means anyone can buy and sell them to other individuals or institutions. Marketable securities are exchanged through the organized markets for example, stock exchanges and its Representative dealers and brokers who sell and buy marketable securities on behalf of their customer in …

Businesses often need capital to implement growth plans, governments require funds to finance building projects and individuals frequently want loans to purchase cars, homes, and education. Fortunately, there are other individuals and firms with incomes greater than their expenditures. Financial markets bring together people and organizations needing money with those having surplus funds. Financial markets …