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In black market, there is a high probability that consumer can be cheated in the black market through giving less quality, damage and harmful goods. Since the money circulate in the black market is unable to record by the government, there is a possibility that the black market activity leads to inflation in the country. This in turn reduces the domestic countries money value and thereby reduces the exchange rate.

Since the domestic currency value decreases against the foreign currency value, it leads to increase the black market in exchanging the foreign currency for the domestic currency. This is ultimately not good for the domestic economy.

If a product is traded in black market then, it does not come under national account. Government also does not get tax income on trading of these products. Therefore, the goods traded in the black market are loss of revenue for the government.

Capital budgeting is the process of deciding which long-term projects the firm should undertake.

Examples may include:

The decision to purchase a new printing press.

The decision to build a new warehouse.

The decision to open or establish a second location on the other side of town.

The decision to update an airline fleet.

Mutually exclusive projects are any set of projects in which choosing one makes the other projects no longer possible. For example, we are considering upgrading our printing press and have the choice of two alternatives. The first is a low-cost model that will need replaced in 3-years and the second is a more expensive model that will need replaced in 5-years. We can only choose one of these options, so they are mutually exclusive. When we have mutually exclusive projects, our decision rule needs to not only decide if a project is good or bad, but needs to be able to rank which project is the best. Many decisions made by the firm are neither independent nor mutually exclusive, but are instead interdependent. In this case, the decision to take one project impacts our decision to take another, but they are not mutually exclusive. For example, VideogamesPlus may decide to introduce a new video game machine along with some games for the new system. The two projects are not independent (the game machine will sell better with more games available) nor mutually exclusive (producing the games does not preclude producing the game machine). However, they are interdependent in that each project will perform better if both are produced. Some interdependent projects are compliments (like the example above) in which the cash flows from both projects taken together are greater than the cash flows from each project on a standalone basis. Other interdependent projects are substitutes in which the cash flows from both projects taken together are less than the cash flows from each project on a standalone basis. While we will not be evaluating interdependent projects in this class, the procedure is to look at each project individually as well as in combination.