Non-governmental organizations, nongovernmental organizations, or nongovernment organizations referred to as NGOs, are non-profit and sometimes international organizations independent of governments and international governmental organizations that are active in humanitarian, health care, public policy, human rights and other areas to effect changes according to their objectives. They are thus a subgroup of all organizations founded by citizens, which include clubs and other associations that provide services and premises only to members. Sometimes the term is used as a synonym of "civil society organization" to refer to any association founded by citizens, but this is not how the term is used in the media or everyday language, as recorded by major dictionaries; the explanation of the term by NGO.org is ambivalent. It first says an NGO is any non-profit, voluntary citizens' group, organized on a local, national or international level, but goes on to restrict the meaning in the sense used by most English speakers and the media: Task-oriented and driven by people with a common interest, NGOs perform a variety of service and humanitarian functions, bring citizen concerns to Governments and monitor policies and encourage political participation through provision of information.
NGOs are funded by donations, but some avoid formal funding altogether and are run by volunteers. NGOs are diverse groups of organizations engaged in a wide range of activities, take different forms in different parts of the world; some may have charitable status, while others may be registered for tax exemption based on recognition of social purposes. Others may be fronts for religious, or other interests. Since the end of World War II, NGOs have had an increasing role in international development in the fields of humanitarian assistance and poverty alleviation; the number of NGOs worldwide is estimated to be 10 million. Russia had about 277,000 NGOs in 2008. India is estimated to have had around 2 million NGOs in 2009, just over one NGO per 600 Indians, many times the number of primary schools and primary health centres in India. China is estimated to have 440,000 registered NGOs. About 1.5 million domestic and foreign NGOs operated in the United States in 2017. The term'NGO' is not always used consistently.
In some countries the term NGO is applied to an organization that in another country would be called an NPO, vice versa. Political parties and trade unions are considered NGOs only in some countries. There are many different classifications of NGO in use; the most common focus is on "orientation" and "level of operation". An NGO's orientation refers to the type of activities; these activities might include human rights, improving health, or development work. An NGO's level of operation indicates the scale at which an organization works, such as local, national, or international; the term "non-governmental organization" was first coined in 1945, when the United Nations was created. The UN, itself an intergovernmental organization, made it possible for certain approved specialized international non-state agencies — i.e. non-governmental organizations — to be awarded observer status at its assemblies and some of its meetings. The term became used more widely. Today, according to the UN, any kind of private organization, independent from government control can be termed an "NGO", provided it is not-for-profit, non-prevention, but not an opposition political party.
One characteristic these diverse organizations share is that their non-profit status means they are not hindered by short-term financial objectives. Accordingly, they are able to devote themselves to issues which occur across longer time horizons, such as climate change, malaria prevention, or a global ban on landmines. Public surveys reveal that NGOs enjoy a high degree of public trust, which can make them a useful - but not always sufficient - proxy for the concerns of society and stakeholders. NGO/GRO types can be understood by their level of how they operate. Charitable orientation involves a top-down effort with little participation or input by beneficiaries, it includes NGOs with activities directed toward meeting the needs of the disadvantaged people groups. Service orientation includes NGOs with activities such as the provision of health, family planning or education services in which the programme is designed by the NGO and people are expected to participate in its implementation and in receiving the service.
Participatory orientation is characterized by self-help projects where local people are involved in the implementation of a project by contributing cash, land, labour etc. In the classical community development project, participation begins with the need definition and continues into the planning and implementation stages. Empowering orientation aims to help poor people develop a clearer understanding of the social and economic factors affecting their lives, to strengthen their awareness of their own potential power to control their lives. There is maximum involvement of the beneficiaries with NGOs acting as facilitators. Community-based organizations arise out of people's own initiatives, they can be responsible for raising the consciousness of the urban poor, helping them to understand their rights in accessing needed services, providing such services. City-wide organizations include organizations such as chambers of commerce and industry, coaliti
Balance of trade
The balance of trade, commercial balance, or net exports, is the difference between the monetary value of a nation's exports and imports over a certain period. Sometimes a distinction is made between a balance of trade for goods versus one for services; the balance of trade measures a flow of imports over a given period of time. The notion of the balance of trade does not mean that exports and imports are "in balance" with each other. If a country exports a greater value than it imports, it has a trade surplus or positive trade balance, conversely, if a country imports a greater value than it exports, it has a trade deficit or negative trade balance; as of 2016, about 60 out of 200 countries have a trade surplus. The notion that bilateral trade deficits are bad in and of themselves is overwhelmingly rejected by trade experts and economists; the balance of trade forms part of the current account, which includes other transactions such as income from the net international investment position as well as international aid.
If the current account is in surplus, the country's net international asset position increases correspondingly. A deficit decreases the net international asset position; the trade balance is identical to the difference between its domestic demand. Measuring the balance of trade can be problematic because of problems with recording and collecting data; as an illustration of this problem, when official data for all the world's countries are added up, exports exceed imports by 1%. This cannot be true, because all transactions involve an equal credit or debit in the account of each nation; the discrepancy is believed to be explained by transactions intended to launder money or evade taxes and other visibility problems. For developing countries, the transaction statistics are to be inaccurate. Factors that can affect the balance of trade include: The cost of production in the exporting economy vis-à-vis those in the importing economy. In export-led growth, the balance of trade will shift towards exports during an economic expansion.
However, with domestic demand-led growth the trade balance will shift towards imports at the same stage in the business cycle. The monetary balance of trade is different from the physical balance of trade. Developed countries import a substantial amount of raw materials from developing countries; these imported materials are transformed into finished products, might be exported after adding value. Financial trade balance statistics conceal material flow. Most developed countries have a large physical trade deficit, because they consume more raw materials than they produce. Many civil society organisations claim this imbalance is predatory and campaign for ecological debt repayment. Many countries in early modern Europe adopted a policy of mercantilism, which theorized that a trade surplus was beneficial to a country, among other elements such as colonialism and trade barriers with other countries and their colonies; the practices and abuses of mercantilism led the natural resources and cash crops of British North America to be exported in exchange for finished goods from Great Britain, a factor leading to the American Revolution.
An early statement appeared in Discourse of the Common Wealth of this Realm of England, 1549: "We must always take heed that we buy no more from strangers than we sell them, for so should we impoverish ourselves and enrich them." A systematic and coherent explanation of balance of trade was made public through Thomas Mun's 1630 "England's treasure by foreign trade, or, The balance of our foreign trade is the rule of our treasure"Since the mid-1980s, the United States has had a growing deficit in tradeable goods with Asian nations which now hold large sums of U. S debt that has in part funded the consumption; the U. S. has a trade surplus with nations such as Australia. The issue of trade deficits can be complex. Trade deficits generated in tradeable goods such as manufactured goods or software may impact domestic employment to different degrees than do trade deficits in raw materials. Economies which have savings surpluses, such as Japan and Germany run trade surpluses. China, a high-growth economy, has tended to run trade surpluses.
A higher savings rate corresponds to a trade surplus. Correspondingly, the U. S. with its lower savings rate has tended to run high trade deficits with Asian nations. Some have said. Russia pursues a policy based on protectionism, according to which international trade is not a "win-win" game but a zero-sum game: surplus countries get richer at the expense of deficit
Tertiary sector of the economy
The tertiary sector or service sector is the third of the three economic sectors of the three-sector theory. The others are the secondary sector, the primary sector; the service sector consists of the production of services instead of end products. Services include attention, access and affective labor; the production of information has long been regarded as a service, but some economists now attribute it to a fourth sector, the quaternary sector. The tertiary sector of industry involves the provision of services to other businesses as well as final consumers. Services may involve the transport and sale of goods from producer to a consumer, as may happen in wholesaling and retailing, pest control or entertainment; the goods may be transformed in the process of providing the service, as happens in the restaurant industry. However, the focus is on people interacting with people and serving the customer rather than transforming physical goods, it is sometimes hard to define whether a given company is part and parcel of the secondary or tertiary sector.
And it is not only companies. In order to classify a business as a service, one can use classification systems such as the United Nations' International Standard Industrial Classification standard, the United States' Standard Industrial Classification code system and its new replacement, the North American Industrial Classification System, the Statistical Classification of Economic Activities in the European Community in the EU and similar systems elsewhere; these governmental classification systems have a first-level hierarchy that reflects whether the economic goods are tangible or intangible. For purposes of finance and market research, market-based classification systems such as the Global Industry Classification Standard and the Industry Classification Benchmark are used to classify businesses that participate in the service sector. Unlike governmental classification systems, the first level of market-based classification systems divides the economy into functionally related markets or industries.
The second or third level of these hierarchies reflects whether goods or services are produced. For the last 100 years, there has been a substantial shift from the primary and secondary sectors to the tertiary sector in industrialized countries; this shift is called tertiarisation. The tertiary sector is now the largest sector of the economy in the Western world, is the fastest-growing sector. In examining the growth of the service sector in the early Nineties, the globalist Kenichi Ohmae noted that: "In the United States 70 percent of the workforce works in the service sector; these are not busboys and live-in maids. Many of them are in the professional category, they are earning as much as manufacturing workers, more.”Economies tend to follow a developmental progression that takes them from a heavy reliance on agriculture and mining, toward the development of manufacturing and toward a more service-based structure. The first economy to follow this path in the modern world was the United Kingdom.
The speed at which other economies have made the transition to service-based economies has increased over time. Manufacturing tended to be more open to international trade and competition than services. However, with dramatic cost reduction and speed and reliability improvements in the transportation of people and the communication of information, the service sector now includes some of the most intensive international competition, despite residual protectionism. Service providers face obstacles selling services that goods-sellers face. Services are intangible, making it difficult for potential customers to understand what they will receive and what value it will hold for them. Indeed, such as consultants and providers of investment services, offer no guarantees of the value for price paid. Since the quality of most services depends on the quality of the individuals providing the services, "people costs" are a high fraction of service costs. Whereas a manufacturer may use technology and other techniques to lower the cost of goods sold, the service provider faces an unrelenting pattern of increasing costs.
Product differentiation is difficult. For example, how does one choose one investment adviser over another, since they are seen to provide identical services? Charging a premium for services is an option only for the most established firms, who charge extra based upon brand recognition. Examples of tertiary industries may include: Telecommunication Hospitality industry/tourism Mass media Healthcare/hospitals Public health Pharmacy Information technology Waste disposal Consulting Gambling Retail sales Fast-moving consumer goods Franchising Real estate Education Financial services Banking Insurance Investment management Professional services Accounting Legal services Management consultingTransportation Below is a list of countries by service output at market exchange rates in 2016. Quaternary sector of the economy Indigo Era National Occupational Research Agenda Service Sector Council, USA Media related to Service industries at Wikimedia Commons
Balance of payments
The balance of payments known as balance of international payments and abbreviated B. O. P. or BoP, of a country is the record of all economic transactions between the residents of the country and the rest of the world in a particular period of time. The balance of payments is a summary of all monetary transactions between a country and rest of the world; these transactions are made by individuals and government bodies. Thus the balance of payments includes all external visible and non-visible transactions of a country, it is an important issue to be studied in international financial management field, for a few reasons. First, the balance of payments provides detailed information concerning the demand and supply of a country's currency. For example, if Sudan imports more than it exports this means that the quantity supplied of Sudanese pounds by the domestic market is to exceed the quantity demanded in the foreign exchanging market, ceteris paribus. One can thus infer that the Sudanese pound would be under pressure to depreciate against other currencies.
On the other hand, if Sudan exports more than it imports the Sudanese pound would be to appreciate. Second, a country's balance of payments data may signal its potential as a business partner for the rest of the world. If a country is grappling with a major balance of payments difficulty, it may not be able to expand imports from the outside world. Instead, the country may be tempted to impose measures to restrict imports and discourage capital outflows in order to improve the balance of payments situation. On the other hand, a country with a significant balance of payments surplus would be more to expand imports, offering marketing opportunities for foreign enterprises, less to impose foreign exchange restrictions. Third, balance of payments data can be used to evaluate the performance of the country in international economic competition. Suppose a country is experiencing trade deficits year after year; this trade data may signal that the country's domestic industries lack international competitiveness.
To interpret balance of payments data properly, it is necessary to understand how the balance of payments account is constructed. These transactions include payments for the country's exports and imports of goods, financial capital, financial transfers, it is prepared in a single currency the domestic currency for the country concerned. The balance of payments accounts keep systematic records of all the economic transactions of a country with all other countries in the given time period. In the BoP accounts, all the receipts from abroad are recorded as credit and all the payments to abroad are debits. Since the accounts are maintained by double entry bookkeeping, they show the balance of payments accounts are always balanced. Sources of funds for a nation, such as exports or the receipts of loans and investments, are recorded as positive or surplus items. Uses of funds, such as for imports or to invest in foreign countries, are recorded as negative or deficit items; when all components of the BoP accounts are included they must sum to zero with no overall surplus or deficit.
For example, if a country is importing more than it exports, its trade balance will be in deficit, but the shortfall will have to be counterbalanced in other ways – such as by funds earned from its foreign investments, by running down currency reserves or by receiving loans from other countries. While the overall BoP accounts will always balance when all types of payments are included, imbalances are possible on individual elements of the BoP, such as the current account, the capital account excluding the central bank's reserve account, or the sum of the two. Imbalances in the latter sum can result in surplus countries accumulating wealth, while deficit nations become indebted; the term "balance of payments" refers to this sum: a country's balance of payments is said to be in surplus by a specific amount if sources of funds exceed uses of funds by that amount. There is said to be a balance of payments deficit. A BoP surplus is accompanied by an accumulation of foreign exchange reserves by the central bank.
Under a fixed exchange rate system, the central bank accommodates those flows by buying up any net inflow of funds into the country or by providing foreign currency funds to the foreign exchange market to match any international outflow of funds, thus preventing the funds flows from affecting the exchange rate between the country's currency and other currencies. The net change per year in the central bank's foreign exchange reserves is sometimes called the balance of payments surplus or deficit. Alternatives to a fixed exchange rate system include a managed float where some changes of exchange rates are allowed, or at the other extreme a purely floating exchange rate. With a pure float the central bank does not intervene at all to protect or devalue its currency, allowing the rate to be set by the market, the central bank's foreign exchange reserves do not change, the balance of payments is always zero; the current account shows the net amount of a country's income if it is in surplus, or spending if it is in deficit.
It is the sum of the balance of factor income and unilateral transfers. The