Microeconomics studies individuals and business decisions, while macroeconomics analyzes the decisions made by countries and governments. Microeconomics focuses on supply and demand, and other forces that determine price levels, making it a bottom-up approach. Microeconomics and macroeconomics are not separate subjects but are, rather, complementary perspectives on the overall subject of the economy. ... In a similar way, both microeconomics and macroeconomics study the same economy, but each has a different starting point, perspective, and focus.

Disco Enterprises Private Limited is a Non-govt company, incorporated on 22 May, 2003. t's a private unlisted company and is classified as'company limited by shares'.

Company's authorized capital stands at Rs 10.0 lakhs and has 100.0% paid-up capital which is Rs 10.0 lakhs. Disco Enterprises Private Limited last annual general meet (AGM) happened on 30 Sep, 2017. The company last updated its financials on 31 Mar, 2017 as per Ministry of Corporate Affairs (MCA).

Disco Enterprises Private Limited is majorly in Trading business from last 17 years and currently, company operations are active.

From the photo spread in The Statesman on 22 August 1943 showing famine conditions in Calcutta.

Calculate (a) Gross National Disposable Income and (b) Personal Disposable Income from the following data:

Answer

(a) Gross National Disposable Income
= NN{{P}{MP}}+ Consumption of Fixed Capital + Net Current Transfers from Abroad = 800 +100 + (-50) = Rs. 850 crore
(b) Personal Disposable Income =
NN${{P}{MP}}$ - Domestic Product accruing to Government - Net Indirect Taxes + Current Transfers by Government - Net Current Transfers to Abroad + National Debt Interest - Corporation Tax - Personal Tax
= 800 - 80 -120 +25-50 +75-60 - 90 = 900 - 400 = Rs.500 crore

National income is measured by the output method by calculating the total value of goods and services produced in the country during the year. The money value of goods and services produced in an economy in an accounting year is called Gross National Product (GNP). there are several methods of calculating national income. The three most common methods are the value-added method, the income method, and the expenditure method. The value-added method focuses on the value added to a product at each stage of its production.

An economic paradox occurs when a real-world situation does not align itself with the economic principles and the assumptions of the given theory it falls into. Economic paradoxes have always been common as economic models are developed by observing the economic environment and collecting data, and through hypothesizing situations based on certain assumptions and since markets are dynamic and societies are continuously evolving, practical observations sometimes fail to behave according to the given economic models.

An exchange rate is the price of one nation's currency in terms of another nation's currency. Like other prices, exchange rates are determined by the forces of supply and demand. Foreign exchange markets allocate international currencies. If a currency is free-floating, its exchange rate is allowed to vary against that of other currencies and is determined by the market forces of supply and demand. Exchange rates for such currencies are likely to change almost constantly as quoted on financial markets, mainly by banks, around the world.

The currency issued by the monetary authority is known as legal tender money. It implies that the values of such currency notes and coins are backed by the monetary authority. Fiat money becomes the legal tender when it is backed by the monetary authority.

When a commercial bank faces financial crisis and fails to obtain funds from other sources, then the central bank plays the vital role of 'lender of last resort' and provides them with the financial assistance in the form of credit. This role of the the central bank saves the commercial bank from bankruptcy. Thus, the central bank plays the role of guarantor for the commercial banks and maintains a sound and healthy banking system in the economy.

Human capital is important because it is perceived to increase productivity and thus profitability.  Human capital creates both private and social benefits, whereas physical capital creates only private benefit. The two major sources of human capital in a country are (i) Investment in education (ii) Investment in health Education and health are considered an important input for the development of a nation.

Measurement of Actual Performance:

Once the standards have been determined, the next step is to measure the actual performance. The various techniques for measuring are sample checking, performance reports, personal observation etc. However, in order to facilitate easy comparison, the performance should be measured on the same basis as the standards.

Taking corrective action-

The final step in the control process is determining the need for corrective action. Managers can choose among three courses of action:

A)They can do nothing

B)They can correct the actual performance, or

C)They can revise the standard

Maintaining the status quo if preferable when performance essentially matches the standards. When standards are not met, managers must carefully assess the reasons why and take corrective action. Moreover, the need to check standards periodically to ensure that the standards and the associated performance

Double counting can be avoided. In order. to avoid double or multiple counting, only final goods and services should be included in GDP. However, this should not be regarded as meaning that the farmer or the miller or the baker has not contributes anything to GDP. The value added is found out by subtracting the value of inputs (intermediate goods which enter into final goods) from the value of output (final goods) of a firm. Clearly, value added by all the four firms is Rs 3,500 comprising Rs 1,000 by A + Rs 500 by B + Rs 700 by C + Rs 1,300 by D.

The Permanent Settlement (also Permanent Settlement of Bengal) was introduced by Lord Cornwallis in 1793. It was an agreement between the British East India Company and the Landlords of Bengal to settle the Land Revenue to be raised. Lord Cornwallis came to India as the Governor General. 

Land revenue is tax or revenue levied on agricultural production on land. It is either collected as a percentage of the share of total crop or a monetary value is fixed on the land to be paid by the farmer. It has been the major source of revenue for empires.

The Bretton Woods Agreement and System created a collective international currency exchange regime that lasted from the mid-1940s to the early 1970s. The Bretton Woods System required a currency peg to the U.S. dollar which was in turn pegged to the price of gold. The Bretton Woods system was a fixed exchange rate​ system, while the gold standard was a floating exchange rate system. ... This occurred because the baht was pegged too high in value against the dollar.

In a system of flexible exchange rate, the exchange rate of a currency (like price of a commodity) is freely determined by forces of demand and supply of foreign exchange in the foreign exchange market. Expressed graphically, the intersection of demand and the supply curves determines the equilibrium exchange rate and equilibrium quantity of foreign currency. This is called equilibrium in foreign exchange market. Let us assume that there are two countries–India and USA – and the exchange rate of their currencies, viz., rupee and dollar is to be determined. Presently, there is floating or flexible exchange regime in both India and USA. Therefore, the value of currency of each country in terms of the other currency depends upon the demand for and supply of their currencies as explained below.
(a) Demand for foreign exchange.Demand for foreign exchange is caused (i) to purchase abroad goods and services by domestic residents, (ii) to purchase assets abroad, (iii) to send gifts abroad, (iv) to invest directly in shops, factories abroad, (v) to purchase foreign currency in anticipation of earnings profit (speculation), (vi) to undertake foreign tour, etc. 

(b)    Supply of foreign exchange.Supply of foreign exchange comes :(i) when foreigners purchase home country's (say India's) goods and services through our exports, (ii) when foreigners make direct investment in bonds and equity shares of home country, (iii) when speculation cause inflow of foreign exchange, (iv) when foreign tourists come to home country, etc.  
(c)    Determination of exchange rate.The equilibrium exchange rate is determined at a point where demand for and supply of foreign exchange are equal. Graphically intersection of demand and supply curves determine the equilibrium exchange rate of foreign currency. At any particular time, the price at which demand for foreign currency (say, dollar) equals its supply is called equilibrium rate of exchange. It is proved with the help of following diagram. The price on the vertical axis is stated in terms of domestic currency (i.e., how many rupees for one US dollar). The horizontal axis measures quantity demanded or supplied of foreign exchange (i.e., dollars). In this figure, demand curve is downward sloping which shows that less foreign exchange is demanded when exchange rate increases. The reason is that rise in the price of foreign exchange (dollar) increases the rupee cost of foreign goods which make them more expensive. The result is fall in imports and demand for foreign exchange.

Exchange rates are determined by factors, such as interest rates, confidence, the current account on balance of payments, economic growth and relative inflation rates. For example:

• If US business became relatively more competitive, there would be greater demand for American goods; this increase in demand for US goods would cause an appreciation (increase in value) of the dollar.
• However, if markets were worried about the future of the US economy, they would tend to sell dollars, leading to a fall in the value of the dollar.

Inflow of Foreign Investment -  The opening up of the Indian economy with the various investment  policy reforms, this led to rapid increase in FDI and FII.