Economic Goals

Economic policies are made to achieve following economic goals.
• It means to produce better goods and services and to develop a higher standard of living of the people.
• To provide suitable jobs for all citizens who are willing and able to work.
• To achieve maximum fulfillment of wants, using available productive resources.
• To avoid large upswings in general price level that is to avoid inflation and deflation in the economy.
• To guarantee that business, workers and consumers have a high degree of freedom in their economic activities.
• To ensure that no group of citizens faces poverty while most enjoy abundance of wealth.
• To provide for those who are disabled, chronically ill, aged, laid off from jobs or otherwise unable to ear minimum levels of income.
• To have overall balance of payments in international trade and financial transactions.

What is Credit card?

It is a phenomenon that the credit card has become one of the essential needs of everyday life. People use it as they paper money. This is why it is called Plastic money as well.

Such a type of card can be defined as
"It is a particular style of card issued by an institution to its client on the basis of a special contract between the institution and the client. This card gives a tendency to its holder to purchase commodities or services on credit on behalf of the institution, from a particular space mentioned by the institution."

True credit cards have a set spending limit for example $1000, $5,000, $50,000, etc. based on the cardholder's credit rating and current income. If cardholder spends more money, his credit limit increases. If he chronically makes late payments on his monthly bills or skips payments either his limit will be reduced or his credit will be cut off, and the interest rate charged on the balance may be increased.