Basic terms of business and commerce

16. What is public key and private key ? 

 These are base of ecommerce. Every transaction can be executed only with combination of these two keys. Public key can be known, but private key is known only to the user.

  17. What is dayend? 
In any organisation, the software generates a key at the time of day end. Which has to be kept safe and it has to tally with the opening key of the next day. Thus it is ensured that there is no unauthorised transaction in between and data are safe. Every organisation keeps a register of the keys generated at the time of day end and day start.
  

18. What is whistle blowing ?

If you are working in a company and finds that some unethical (wrong) thing is taking place, you can raise this issue with the top executives – this is called whistle blowing companies have some executives to look after these issues.

19. What is ALM?

Asset Liability Management banks have to ensure that their assets and liabilities are balanced – for this they do ALM.

20. What is a cartel?

When a group of firms join together and fix prices together, it is called cartel. They are in collusion (an agreement).