Okoth Onyango

In traditional communities, people produced various goods and services which they would exchange for other goods and services which they did not have. some communities exchanged salt for food crops while Barter trade refers to the exchange of goods and…

The term characteristics mean features. For a commodity to perform as money it has to have the following characteristics Acceptability of money must be acceptable foot it to be used as a medium of exchange. Portability money should be convenient…

Public finance refers to activities carried out by the government associated with the raising finance and spending the finances so raised Public finance is related to the financing of state activities and a narrow definition of public finance would try…

International trade is simply defined as trade between two countries it is also referred to as foreign trade. International trade is carried out between individuals or governments of different countries e.g. trade between a citizen of Kenya and a citizen…

Trade is the buying and selling of goods and services with the aim of making a profit. Importance of trade: Trade plays a vital role in any economy. The various roles played by trade in the economy include: Trade helps…

Friedman’s restatement of the quantity theory of money and supply of money Milton Friedman with other economists at Chicago developed a subtler and more relevant version of the quantity theory of money in its theoretical form in which the quantity…

This theory of money demand was postulated by Cambridge economists. Cambridge economists argued that a certain portion of money supply (Ms) where the equilibrium condition Money supply (Ms) = Money demand (Md) hence the portion of money supply will not…

 Grameen means “rural” or “village” in the Bangla language  Economic theory provides ample caution against lending to low-income households that lack collateral to secure the loans. The concept of effective demand, as applied to the theory of demand and supply,…