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Ask QuestionPosted by Priyanshu Mittal 5 years, 6 months ago
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Gaurav Seth 5 years, 6 months ago
When the number of poor is estimated as the proportion of people below the poverty line, it is known as “Head Count Ratio”.
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Sneha Manchanda 5 years, 6 months ago
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Khushi Varshney 5 years, 6 months ago
Posted by Maya Bhargavan 5 years, 6 months ago
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Sneha Gupta 5 years, 6 months ago
Yogita Ingle 5 years, 6 months ago
An economic problem generally means the problem of making choices which occurs because of the scarcity of resources. The economic problem arises because people have unlimited desires but the means to satisfy that desire is limited. Therefore, satisfying all human needs are difficult with limited means.
Causes of Economic Problem
- Scarcity of Resources- Resources like labor, land, and capital, etc. are insufficient as compared to the demand. Therefore, the economy cannot provide everything that people want.
- Unlimited Human Wants- Human beings demands and wants are unlimited and never ends, which means they will never be satisfied. If a person one wants is satisfied, they will start tempting some new desires. People wants are unlimited and keep multiplying, therefore, cannot be satisfied because of limited resources.
- Alternative Uses- Resources being scared they are put into different uses. So, to make a choice among resources are essential. For instance, petrol is not only used in a vehicle but it is also used for generator, running machine, etc. So, now the economy should make a choice within the alternative uses.
Posted by Crazy Hakimju 5 years, 6 months ago
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Sneha Manchanda 5 years, 6 months ago
Posted by Surmai Gupta 5 years, 6 months ago
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Yogita Ingle 5 years, 6 months ago
Net National Product at FC (National Income) : It is the sum total of factor
incomes (compensation of employees + rent + interest + profit) earned by
normal residents of a country in an accounting year
or
NNPFC = NDPFC + Factor income earned by normal residents from abroad –
factor payments made to abroad.
Posted by Adhrit Ojha 5 years, 6 months ago
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Posted by Bhavay Khanijo 5 years, 6 months ago
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Yogita Ingle 5 years, 6 months ago
Following are the features of economic policy in 1991
- Dependence on public sector There were 17 industries reserved for public sector as against 12 industries for private sector.
- Inward looking trade strategy Substituting foreign goods with the local goods so that more local goods could be sold.
- Controlled development of private sector License from Government was required in order to establish a new private firm
- Protection to small scale industries Priority to small-scale industries was given, a certain type of products were made by small scale industries so that they do not go out of the market.- Self sufficiency in food grains Agricultural industry was commercialized and India became self-sufficient in making their own food products.- Diversification of industriesOther than jute, tea and cotton other goods were also made like electricity, automobiles etc.
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Khushi Varshney 5 years, 6 months ago
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Jaismeen Dhami 5 years, 6 months ago
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Ria Choudhary 5 years, 6 months ago
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Sneha Manchanda 5 years, 6 months ago
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Posted by Priyanshu . 5 years, 6 months ago
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Khushi Varshney 5 years, 6 months ago
Yes, it's true that our handicraft industries which were famous worldwide for their excellent quality were ruined under British rule.
<hr />- Britishers ruined domestic demand for handicraft goods by bringing cheap machine-made British products in Indian Market.
- Exports of Indian handicraft products to other countries was abolished by putting heavy export duty on them.
Posted by Neeru Mahajan 5 years, 6 months ago
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Anju Singh 5 years, 6 months ago
Anju Singh 5 years, 6 months ago
Anju Singh 5 years, 6 months ago
Posted by Rajeev Bhati 5 years, 6 months ago
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Yogita Ingle 5 years, 6 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
Posted by Ria Choudhary 5 years, 6 months ago
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Gaurav Seth 5 years, 6 months ago
The Head count ratio (HCR) is the proportion of a population that exists, or lives, below the poverty line.
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