All About World Knowledge

The public debt may be classified as under
1.    Internal and External debt:
•    Amount borrowed from within the country and the lenders may be individuals, groups, banks, non-banking companies and others companies willing to invest at higher profits. External debt is owed to the foreign government or institutions.
2.    Short-term & Long-Term debt:
•    Short-term debt is paid within 12 months e.g. treasury bills payable after 3 months, ways and means advances from central bank. They are usually taken to cure the difference between current expenditure and current revenue. Also called floating debt.
•    Long-term loans are payable after a period of more than 1 year. Also called funded debt. Example includes long-term loan. Mortgage from bank.
3.    Productive and unproductive:
•    The productive debt is expected to create assets which will yield income to sufficient to pay the principal. In other words, they are expected top pay their way: they are self liquidating. For example if government takes loan and invest to encourage education, such a loan will be proved effective and productive. Another case may be that government takes loan and establish industry for producing value added goods; this is also a productive loan. On the other hand loans raised for war do not create any asset; they are deadweight and regarded as unproductive. Funds borrowed for reconstruction after war or panics also prove expensive for an economy.

Public debt refers to the borrowing of the government from within the country or from abroad, from private individuals or from association of individuals or from banking or non-banking financial institution. Government borrows money in order to finance the expenditures. The need for public debt arises when there is budget deficit i.e. when expenditure of the government gets bigger than government income. Government just acting as debtor discharge the amount and pays the interest rate agreed on loan. In the world developing countries are taking loans for buying technology and especially for industrialization. The amount borrowed is invested in viable projects so that it fulfills the goals of the government and justifies the finance cost

In the market the prices of the numerous commodities change on daily basis. The prices of all commodities do not move together. It may be possible that the prices of some commodities may be rising and price of some other commodities may be falling. The rate of change in prices is also different i.e. some prices may be rising faster and some may be rising slower. In order to introduce the element of uniformity the idea of general price level is introduced. This is done by means of index numbers.

Index numbers are devices for measuring the differences in the magnitude of a group of related variables. An index number is a number which indicates the price level at any given date as compared with the level of prices at some standard date called the base.

In the theory of money we concerned with the determination of the value of money which has inverse relation with the general price level.. There are two main questions concerning the value of money, viz.,
1. how changes in the value of money(prices) is measured and
1. how the value of money is determined i.e. the factors governing price fluctuation.

Index numbers are used to determine the changes in the value of money

Money is facilitating us in many ways but it is not an unmixed blessing. There are many drawbacks associated with money. Money has proved dangerous in several ways.

Economic Instability:- Money is blamed for causing inflation if it is gone out of control. Hence money in the economy can affect in adverse ways. It also upsets debtor- creditor relationship when money is quikly loosing its value.

Wealth Inequalities in the economy:- Money has proved to be a very convenient tool for amassing wealth and of exploitation of the poor by the rich. It has created a yawning gap between ‘haves’ and ‘not haves’ and this only because of existence of money.

Moral depravity:- Money has weekend the moral fiber of man. The major evils in the society are only because of money. People killing others for only money, judges giving selective judgments for money, cause of theft and murder, cause of deception and betrayal. In pursuit of accumulating money we sell our belief and laws killinga the rights of others.

The definitions provided by Robertson and Crowther are best defining definitions and clear the concept of money that we use in our daily life

Drive is always very important and enjoyable but some times the drive become a bad memory and cruel experience because of only our ignorance and fault.
We think that the drive is all about only to drive the car on the road but the driving is more then that. There are some important things to check. Before seating in the car go to your car’s trunk. Check out these thinge

• Spare Wheel with Air Pressure.
•  Hydraulic Jack.
• Wheel Wrench.

After checking these stuff now come to your car’s front bonnet open it and check out some important things. Most important is to check the level of engine coolant in the radiator and in its spear tank.  This is important because the car engine cannot work without coolant and will burn out if there is no sufficient Coolant in the radiator.
After that now check out the engine oil by dragging out the oil gauge form the engine and check the level is on the right point of the gauge or not if it is ok then put it back if not then put some oil and check again .After completing the oil check now check the wind shower tank if the level of water in it is low then fill it up with water to the right level. The battery of your car also want some attention, check the level of acid in your car’s battery by opening the caps one by one, if the level is low in some of the cell then fill them up by battery acid, if the battery acid is not available don’t worry, use the fresh water. You can also check the level of break fluid.
Do you think that the car is now ready for ride, No . Now sit in your car put the key in the ignition switch turn the it on ,There are some caution lights in your car’s dashboard . The light of  Power Generator, Engine Oil, Hand Break, Engine check , and some other lights but important are mentioned above. Now Turn the Key to the Ignition point (start). The Engine will start now check these lights all the lights must turn off if the functions are proper, if any of these lights not turned of then we have to check the problem. Let suppose the break light is on check out the hand break if it is tight then release the break the light will turned of, if not then there is a problem with your car’s breaks. The break fluid is low, if the fluid is on the right level then the pads of the breaks are burned out, go to your service shop by driving slowly and get the treatment for the breaks.
While driving there are some other things on which u have to keep an eye

• Temperature Gauge
• Fuel Gauge
• All the Caution Lights