Define Team and Different Type of Team . Define Team: Team is a group of two or more people , who interact and influence each other but has some characteristics is greater degree than ordinary group , including a higher commitment comman gaol and high degree of interdependency and interaction .  In nut shell ,  A Team is group organized  to...

 Concept of final and intermediate Goods  Final Goods They are those goods which are acquired for personal consumption and investment . These goods reach their final user . They remain outside the production boundary.  Examples . ( a ) Wheat , furniture , cloth bread , butter , etc. , used by the consumers . ( b ) Machines used by producers  ( c...

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Define Bank and Explain various types of  bank depositsDefine of Bank - The term ' Bank ' has been defined in different ways by different economists.  According to Walter Leaf , " A bank is a person or corporation which holds itself out to receive from the public , deposits payable on demand by cheque . " Horace White has...

National income and concept of GDP National Income NI or National Product is defined as the money value of all final goods and services produced within the domestic territory of a country in an accounting year plus net factor income from abroad . Domestic income is the value of production within the domestic territory of a country .These different concepts...