December 2020
Intermediate to advanced
857 pages
42h 3m
English
Content preview from Business Environment, 4th Edition by Pearson
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Economic Trends | 131
day treasury bills which were later converted into 364-day treasury bills. In 1997,
the government introduced the 14-day intermediate treasury bills.
FINANCIAL SYSTEM
In a broad sense, finance refers to funds of monetary resources needed by individuals,
business houses, and the government. Individuals and households require funds
essentially for meeting their current requirements or day-to-day expenses or for
buying capital goods ( commonly known as investment). A list of some investments
in international money market is given in Box 5.3. A business unit, a factory, or a
workshop needs funds for paying wages and salaries, ...
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