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Preeti Dabral 1 year, 8 months ago
In economics, pegging a price, rate or amount implies fixing it at a particular level. ... Parity value or parity price, on the other hand,is a price concept used for commodities or securities. It is used to imply that two assets have an equal value.
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Preeti Dabral 1 year, 8 months ago
The significance of primary deficit is that it reflects borrowings on account of current year expenditure exceeding the current year receipts of the government. Interest payment on the accumulated borrowings is not accounted for.
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Posted by Abhishek Kamath 1 year, 9 months ago
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Preeti Dabral 1 year, 9 months ago
If a single transaction is recorded twice or more than twice in the calculation of national income, then it is known as double counting.
The problem of double counting is solved by value added method. Theoretically, to avoid double counting there may be two alternative ways:
- Final Product Approach
- Value Added Approach
- Final Product Approach: According to this, the value of only final products, i.e. which go for final consumption or capital formation should be included. But in practical application of this approach double counting still creeps in as every producer treats the product he sells as final whereas the same might have been used as an intermediate product by the buyer.
- Value Added Approach: Value added refers to the difference between the value of output and the value of intermediate consumption of each producing unit in the country. Sum total of a value added by all the producing units within the domestic territory of the country is equal to Domestic Product.focusing on value addition, we avoid double counting because we are not accounting for the value of intermediate consumption.
Posted by Gurpreet Kaur 1 year, 9 months ago
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Preeti Dabral 1 year, 9 months ago
Both the agriculture sector and the industrial sector are mutually dependent on each other. Agriculture is dependent on industry for the supply of materials for building up social and economic overheads in the agricultural sector.
Further, many raw materials and inputs used in industrial production, e.g., cotton, jute, sugarcane, tobacco, etc., is supplied by the agricultural sector. In case of good harvest, the farmers have high incomes, which they use to demand more industrial goods. For example, during good harvest, many farmers buy new televisions, mobiles, clothes, etc. Similarly, when the people engaged in the industrial sector experience good income, then they demand higher quantities of food grains, eat more fish, meat and drink milk.
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Preeti Dabral 1 year, 9 months ago
- In- case of non-marketed goods, organised markets are not used and no exchange of goods takes place. Therefore these will not be included in the national income as it is difficult to estimate the value of production.
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Preeti Dabral 1 year, 9 months ago
For the implementation of the development process in a mixed economy the following methods were employed:
- Planning and governmental regulation to control the economy.
- Licensing, subsidies, progressive taxing, price control and reforms etc. were also implemented.
- To make a significant role in the public sector.
- To ensure a political democracy.
Posted by Sariful Reyon 1 year, 10 months ago
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Aditya Kumar Jha 1 year, 9 months ago
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Harshith Raj Kumar 1 year, 8 months ago
2Thank You