What Is Inflation In Plain English?


  

George Lumumba , Zambia

Posted: April 26 2013

Please Explain to me Inflation in lay man’s term as this word is in everybody’s lips but when one ask exactly the meaning it takes 10 minutes for one to explain and I end up confused.

  NDBS Answer:

A general increase in prices and fall in the purchasing value of money.  That is the straight forward explanation.  The money that you have become less in value as instead of buying two items you now get one item.  That is the simplest explanation.

 

...

  What Is GDP And Its Role In The Economy Of The Country?

Lawrance Matshebula, Swaziland

Posted: April 26 2013


  NDBS Answer:

The gross domestic product (GDP) or gross domestic income (GDI) is one of the measures of national income and output for a given country's economy. It includes all of private and public consumption, government outlays, investments and exports less imports that occur within a defined territory.  It is the total value of all final goods and services produced in a country within a fiscal year, And is measured quarterly as it is a good indication to see if the economy is in constraints or it is performing well.  when GDP grows too quickly and fears of inflation arise the country is central bank raise interest rates to stimulate the economy.  If the GDP shows a decline in consecutive quarters then the economy is faced with recession. 


GDP = C + G + I + NX

"C" is equal to all private consumption, or consumer spending, in a nation's economy
"G" is the sum of government spending
"I" is the sum of all the country's businesses spending on capital
"NX 


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  What is the Power Of Attorney?  does an Attorney have to be involved?

Justin Taylor, Canada

Posted: April 25 2013


  NDBS Answers:

Power of Attorney is the authority given in writing or under oath to act on someone’s behalf.  The person given such power may not be an Attorney but has legal right to sign on behalf of the person who cedes powers to the one acting for or on behalf.

There are three types or categories of Power of Attorney which are

Lasting Power of Attorney – This is applicable where an individual is incapacitated due to poor health or other factors that will make them ineffective to make decisions.

Enduring power of attorney – It applies where the person is losing mental capacity

Ordinary Power of Attorney – This also applies on the above eventualities but do not need one to be registered with the authorities.

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  Can a Will Be Drawn without a Lawyer Signing or Authenticating it?

Trina Steenkamp, South Africa

Posted: April 22 2013

I want to draw a will but before I do so would like to know if I need a Lawyer to help me or can I just write it myself and have it signed by witnesses.  Will it still be legal that way?  


  NDBS Answers:

A will is a document that is effected when you cease to exist or pass away.  For the will to be honored by the living there must be two witnesses who sign and they don’t have to read it but attach their signatures, the witnesses must not be beneficiaries.  As long it is signed there is no need for a lawyer to authenticate it for it to become valid.  Anyone who is sane can draw a will and choose where to keep it where it will be accessible when that person is dead.  

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  What is a Social Entrepreneur?

Shabir Tenduka, India

Posted: April 11 2013

I am hearing this buzz word in most office corridors about the Social Entrepreneur.  What makes this word so special in society, in short what does it mean?  

 

  NDBS Answers:

Social Entrepreneur is someone who create opportunities without being profit driven in his or endeavor to meet the needs of the community, such individual is able to set up an organization that will help the community through skills development, orphanage home or any other initiative that will benefit the community in a large-scale than providing short term solution.  Social Entrepreneur is not profit driven but has a mission to add social values to the society through rendering services that will benefit community at large.   

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  What does rescind of judgment mean?

Sonia Modiba, South Africa

Posted: February 11 2012

I was advised to apply for Rescinding of the judgment against me. What does rescind of judgment mean?

  NDBS Answers:

The rescission of judgment is when the High court cancel the earlier judgment made and there must be compelling reasons to do so.  This is common in people who had judgment against them for failing to service their debts.  Consideration for this action is made once it can be proven that procedures where not followed when the case went to court and one needs an attorney to present the case in the High court.  If your name was handed to credit bureau it will be removed once the judgment is rescinded.    


 

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