In production, research, retail, and accounting, a cost is the value of money that has been used up to produce something or deliver a service, and hence is not available for use anymore. In business, the cost may be one of acquisition, in which case the amount of money expended to acquire it is counted as cost.

General equilibrium refers to a situation when the demand and supply of every commodity is equal in the market, whereas, partial equilibrium takes into account a part of the market. Because of partial equilibrium supply and demand of few commodities become equal.

Excess of aggregate demand (AD) over aggregate supply (AS) will lead to inflationary gap only when AD is more than AS corresponding to full employment level of output. If AD Is more than AS before that level, then it will not lead to inflationary gap.

RBI uses a Credit control monetary policy strategy to ensure that the country's economic development is accompanied by stability. It means that banks will not only contain inflationary trends in the economy but will also stimulate economic growth, resulting in increased real national income stability in the long run.

Macroeconomics helps to evaluate the resources and capabilities of an economy, churn out ways to increase the national income, boost productivity, and create job opportunities to upscale an economy in terms of monetary development.

Staus of employment of people in various industries in India is as follows:-

1. There has been a substantial shift from agriculture to industries and the service sector. Although the primary sector continues to remain the main source of employment of workers over the last six decades, its share has decreased from 74 percent in 1951 to 50 percent in 2012. With the process of development in the country, the share of employment is increasing in secondary and tertiary sectors. The share of industries has increased from 11 to 24 percent and that of the service sector has increased from 15 to 27 percent during 1950-2012.
2. The changes in the distribution of the workforce in different status over the last four decades indicate that people have moved from self-employment and regular salaried employment to casual wage work.

Infrastructure affects growth through several supply and demand-side channels. Investments in energy, telecommunications, and transport networks directly impact growth, as all types of infrastructure represent an essential input in any production of goods and services.

Staus of employment of people in various industries in India is as follows:-

1. There has been a substantial shift from agriculture to industries and the service sector. Although the primary sector continues to remain the main source of employment of workers over the last six decades, its share has decreased from 74 percent in 1951 to 50 percent in 2012. With the process of development in the country, the share of employment is increasing in secondary and tertiary sectors. The share of industries has increased from 11 to 24 percent and that of the service sector has increased from 15 to 27 percent during 1950-2012.
2. The changes in the distribution of the workforce in different status over the last four decades indicate that people have moved from self-employment and regular salaried employment to casual wage work.

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