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Yogita Ingle 6 years, 4 months ago
There are several causes that lead to poverty. Some of these are listed here:
- Inflation
- The constant rise in population
- Unemployment.
- Poor growth rate
- Lack of capital
- Excessive debts in rural areas
- Colonization Hangover
- Poor Education
- The pressure of constant inflation
- Migration from rural to urban towns
- Ineffective implementation of the policies and reforms
Posted by Kasak Gupta 6 years, 4 months ago
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Posted by Subhransu Sekhar Sahoo 6 years, 4 months ago
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Yogita Ingle 6 years, 4 months ago
In the initial years of planning, India followed the lines of being a socialist economy. Public sector was accorded a dominant role in the growth and development process. However, in the long run it was found that the public sector was plagued with inefficiencies and incurred huge losses. Moreover, excessive control on the private sector hampered their growth and the industrial sector lacked modernisation. All these factors lead to the stagnation of the Indian economy. Thus, in order to boast up growth in the country and to reduce the inefficiency in the public sector, India adopted moved towards being a mixed economy.
Posted by Nabab Ghosh 6 years, 4 months ago
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Yogita Ingle 6 years, 4 months ago
Methods of Measuring National Income
- Product Method:Under this method, we add the values of output produced or services rendered by the different sectors of the economy during the year in order to calculate the National Income. In this method, we include only the value added by each firm in the production process in the output figure.
- Income Method: Under this method, we add all the incomes from employment and ownership of assets before taxation received from all the production activities in an economy. Thus, it is also the Factor Income method. We also need to add the undistributed profits of the private sector and the trading surplus of the public sector corporations.
- Expenditure Method:This method measures the total domestic expenditure of the economy. It consists of two elements, viz. Consumption expenditure and Investment expenditure. Consumption expenditure includes consumption expenditure of the household sector on goods and services and consumption outlays of the business sector and public authorities.
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Gaurav Seth 6 years, 4 months ago
Forces of demand and supply representing the aggregate influence of self-interested buyers and sellers on price and quantity of the goods and services offered in a market. In general, excess demand causes prices and quantity of supply to rise, and excess supply causes them to fall. Read more: http://www.businessdictionary.com/definition/market-forces.html
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Sia ? 6 years, 4 months ago
In perfect competition, there are two main reasons why a firm cannot get away with setting its prices above the market price. First, there is no difference between its product and that of every other firm in the market. Therefore, no one will pay extra for a firm’s product. If a firm tries to charge a higher price, buyers will go with other sellers, while at a lower price, the firm will not be able to cope with demand due to a large number of buyers.
Second, if a firm were to succeed in setting a higher price, more firms would enter the market, attracted by the higher profits that were available. This would increase supply and drive down the price of the firm’s product. These two factors make it impossible for firms to set their prices above the market price. This makes them into price takers.
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Yogita Ingle 6 years, 4 months ago
Marginal propensity to consume means the ratio of change in consumption expenditure to change in total income.
MPC = (Change in consumption c)/(Change in income Y)
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Manan Saraswat 6 years, 4 months ago
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