#Economic

PovertyIt is a situation wherein a person is not able to fulfil basic requirements or necessities of life. For eg.: food...

Unemployment and Employment Generation Schemes in IndiaUnemploymentUnemployment is the situation where people actively l...

After gaining independence in 1947, India adopted a mixed economy model, combining elements of both socialism and capita...

With population exceeding 1.46 billion people, India is the most populated country in the world surpassing China.In spit...

Indian Economy structure comprises of mixed economy; a combination of private and public sector ownership and control. I...

Bank Rate:Bank Rate refers to the rate at which RBI provides loan to the commercial banks.During times of inflation, the...

Financial Market:It refers to a system consisting of financial institutions (Banks, NBFCs), instruments (shares, bonds),...

Money Supply:Supply of money means volume of money held by the people of the country which includes individuals and busi...

Money:Money is any item or medium of exchange that symbolizes perceived value. As a result, it is accepted by peopl...

InflationInflation is the rate of increase in prices over a given period of time. Inflation is typically a broad measure...

National IncomeIt is generally defined as income of the nation. It reveals the nature of economic activities in a countr...

Basic Concepts of Macro Economics Stock:Stock is the quantity that can be measured at a particular point of time. Their ...

Macro Economics is a branch of economics which studies economic problem at the level of an economy as a whole. It studie...

Dumping is the intentional mass export of goods to other countries where those goods are sold below the importing c...

A cartel is a group of separate companies that agree to increase profits by fixing prices and not competing with each ot...

MarketMarket is the set of conditions or situation where buyers and sellers meet and conduct exchange transactions.Accor...

CostThe term cost means different things to different people. For business executives cost figure is very important in d...

According to Marshall, “the excess of price which the consumer would be willing to pay rather than go without it, the ...

Elasticity of Demand and SupplyElasticity of Demand:The term Elasticity of Demand refers to the degree of co-relation be...

Supply FunctionSupply Function:It can be expressed as S(x) = f (Px).Supply function explains as to how the quantity supp...

According to Marshall, “the additional benefit that a person derives from a given increase in his stock of a thing dim...

Theories of Demand – Demand Function, Law of DemandDemand:Demand refers to the quantity of a goods or services that co...

The Theory of Consumer Behaviour is a foundational concept in microeconomics that examines how individuals make decision...

What is Free Enterprise?An economic system where few restrictions are placed on business activities and ownership is sai...

Form or Types of EconomyThere are 2 types of economy:Micro EconomicsMacro Economics1. Micro Economics – The term Micro...

Economics is the study of how individuals, businesses, governments, and societies make choices about using limited resou...