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Yogita Ingle 6 years, 4 months ago
Macroeconomics is the branch of economics that deals with the behavior and performance of an economy as a whole.
It is generally the study of central issues like
- Employment
- The growth rate of National output
- GDP
- Inflation
- General Price level and stability
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Yogita Ingle 6 years, 4 months ago
Process of Creation of Money:The process of money creation by the commercial banks starts as soon as people deposit money in their respective bank accounts. After receiving the deposits, as per the central bank guidelines, the commercial banks maintain a portion of total deposits in form of cash reserves. The remaining portion left after maintaining cash reserves of the total deposits is then lend by the commercial bank to the general public in form of credit, loans and advances. Now assuming that all transactions in the economy are routed through the commercial banks, then the money borrowed by the borrowers again comes back to the banks in form of deposits. The commercial banks again keep a portion of the deposits as reserves and lend the rest. The deposit of money by the people in the banks and the subsequent lending of loans by the commercial banks is a never-ending process. It is due to this continuous process that the commercial banks are able to create credit money a multiple time of the initial deposits.
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Sia ? 6 years, 4 months ago
India's foreign trade under the British rule is described as below:
- India exported raw materials to the home country of the British for their expanding industries.
- The British followed a typical colonial pattern of trade in India, where it was made to serve their interests.
- India was also developed as a market for the finished goods of the British industries.
Thus, India was reduced to being a source of food for the British, a supplier of raw materials for the British industries and a market for their finished products.
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Tamanna Beniwal 6 years, 4 months ago
Abhijeet Singh Chauhan 6 years, 4 months ago
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Sia ? 6 years, 4 months ago
On the eve of Independence, Indian economy was called an agricultural economy because approximately 70 to 75 per cent of the population was dependent on agriculture for their livelihood, either directly or indirectly.
Posted by Deiwari Lamare 6 years, 4 months ago
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Sia ? 6 years, 4 months ago
Following are the basic features of Indian agriculture:
- Indian agriculture mainly depends on the arrival of monsoon. Though large areas in India, after independence, have been brought under irrigation, only one-third of the cropped area is actually irrigated in true sense.
- Tropical and temperate crops can be successfully grown in India.
- Indian farmers use fertilizers. Use of these fertilizers and pesticides has increased and large areas have been brought under high yielding variety of seeds.
- Indian farmers, in certain parts still practice subsistence agriculture. Farmers own small pieces of land and grow crops primarily for their own purpose
- Indian agriculture has to feed a large population, production of food crops is the first priority of the farmers .
- Agriculture has provides employment to a large section of work force.
- Animal force has always played a significant role in agricultural operations such as ploughing, irrigation, threshing and transporting the agricultural products.
- India has three major crop seasons - Kharif, Rabi and Zaid
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Sia ? 6 years, 4 months ago
Externalities refers the benefits or harms a firm or an industry causes to an individual or the society. The externalities can be positive as well as negative. A negative externality is when the action of one industry or a firm adversely affects the others. For instance, the dumping of hazardous chemicals in the water bodies by the factories is a negative externality. This is because the dumping of hazardous chemicals in water bodies and the surroundings adversely affects the health of the people. Also, it contributes to the environmental degradation along with increasing the pollution levels in the region. Thus, by endangering and affecting the life of the people living in the surrounding areas, it reduces the overall welfare of the society and creates negative externality.
Yogita Ingle 6 years, 4 months ago
Externalities refer to the benefits or harms that a firm or an individual causes to another for which they are not paid.
For example, river pollution created by an oil refinery has disastrous effects on aquatic life.
It reduces the overall welfare of the society and create negative externality.
Posted by Sushil Mahant 6 years, 4 months ago
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Sia ? 6 years, 4 months ago
Economy encompasses all activities related to production , consumption and trade of goods and services in an area. It is a system which provides people with the means to work and earn living.
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Deevanshu Garg 6 years, 4 months ago
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