More than 7 billion human beings like you and me are living on this earth and out of 7 billion human beings we are going to discuss just 5 human beings. Because these 5 people are the most richest human beings in this world.

Bill Gates (Co-Founder of Microsoft)

1. Bill Gates ($ 82.2 B):

William Henry Bill Gates III is the USA based richest person of our age. Gates is the former chief executive and chairperson of Microsoft, the world’s largest personal computer software company, which he co-founded with Paul Allen.
Bill Gates is on top of the list with the wealth of about  $ 82.3 billion.

Top 5 Richest People on Earth

More than 7 billion human beings like you and me are living on this earth and out of 7 billion human beings we are going to discuss just 5 human beings. Because these 5 people are the most richest human beings in this world.

Bill Gates (Co-Founder of Microsoft)

1. Bill Gates ($ 82.2 B):

William Henry Bill Gates III is the USA based richest person of our age. Gates is the former chief executive and chairperson of Microsoft, the world’s largest personal computer software company, which he co-founded with Paul Allen.
Bill Gates is on top of the list with the wealth of about  $ 82.3 billion.

Accounting is known as the language of business, like other fields accounting and finance have their own terms to communicate, so before staring any business or business degree one must know its basic terms and concepts.

For accounting professionals these terms might be a piece of cake but new learners may feel bit difficulty, so from the viewpoint of new learners I tried my best to keep the constant simple and easy.

1. Accounting:
The system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results  is called Accounting.

2. Transaction:
An agreement between a buyer and a seller to exchange goods, services or financial instruments. For Example Purchasing fruits at a grocery store is a transaction, in which fruits are being purchased against the money.

Accounting

15 Basic Accounting Terms and Concepts

Accounting is known as the language of business, like other fields accounting and finance have their own terms to communicate, so before staring any business or business degree one must know its basic terms and concepts.

For accounting professionals these terms might be a piece of cake but new learners may feel bit difficulty, so from the viewpoint of new learners I tried my best to keep the constant simple and easy.

1. Accounting:
The system of recording and summarizing business and financial transactions and analyzing, verifying, and reporting the results  is called Accounting.

2. Transaction:
An agreement between a buyer and a seller to exchange goods, services or financial instruments. For Example Purchasing fruits at a grocery store is a transaction, in which fruits are being purchased against the money.

"Too much money chasing too few goods is called Inflation."- W A L Coulborn

In simple words inflation is the increase in the general price level of goods and services in free market economic system or in other way money losses its value. When inflation occurs, each dollar of income will buy fewer goods and services than before. Inflation reduces the purchasing power.

Types of Inflation:

Two Major types of inflation are explained below

Demand Pull Inflation: The increasing demand for goods and services can bring inflation in the economy. Demand may increase due to of many factors such as, increase in population, low supply etc.

Cost Pull Inflation: The increase in cost of production forces the manufacturer to raise the prices of goods and services such as increase the Power charges, increase in raw material etc.

Economics

Inflation (Economics)

"Too much money chasing too few goods is called Inflation."- W A L Coulborn

In simple words inflation is the increase in the general price level of goods and services in free market economic system or in other way money losses its value. When inflation occurs, each dollar of income will buy fewer goods and services than before. Inflation reduces the purchasing power.

Types of Inflation:

Two Major types of inflation are explained below

Demand Pull Inflation: The increasing demand for goods and services can bring inflation in the economy. Demand may increase due to of many factors such as, increase in population, low supply etc.

Cost Pull Inflation: The increase in cost of production forces the manufacturer to raise the prices of goods and services such as increase the Power charges, increase in raw material etc.