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Yogita Ingle 6 years, 4 months ago
By economic units or economic agents, we mean those individuals or institutions which take economic decisions. They can be consumers who decide what and how much to consume. They may be producers of goods and services who decide what and how much to produce. They may be entities like the government, corporation, banks which also take different economic decisions like how much to spend, what interest rate to charge on the credits, how much to tax, etc.
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The focus of the economic policies pursued by the colonial government was the protection and promotion of economic interests of her home country. These policies intended to transfer India into supplier of raw materials and consumer of finished industrial products from India
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National Income (Y) is an the total level of activity of given economy in a particular period. In other words national income measures the total level of output of an economy in a given given period of time.”Y” is commonly used as the abbreviation for national income.
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Chirag Chirag 6 years, 4 months ago
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