Economics… Difficulties in the Measurement National Income 30 Jul 2020 Difficulties in the Measurement National Income - There are many difficulties in measuring national income of a country correctly. The difficulties are of two types in nature conceptual and statistical.…
Economics… Expenditure Method of Measuring National Income 28 Jul 20209 Aug 2020 Expenditure Method of Measuring National Income - Expenditure method gives the national income by adding up all the expenditures made on goods and services during a year. Income can be…
Economics… A Brief Introduction to Public Finance 25 Jul 2020 What is Public Finance ? According to Dalton, 'Public finance is concerned with the income and expenditure of public authorities and with the adjustment of one to the other.' According…
Economics… What is Money Financing of Budget Deficit ? 22 Jul 2020 What is Money Financing of Budget Deficit ? The government can finance it budget deficit by printing high powered money. The revenue raised through printing new money is also called…
Economics… How Growth of Money Supply is related to Budget Deficit ? 21 Jul 2020 How Growth of Money Supply is related to Budget Deficit ? There are two possible links (or relations) between budget deficit and growth of money supply. First, the budget deficit…
Economics… What is the Government Budget Constraint ? 20 Jul 2020 What is the Government Budget Constraint ? Generally, the government finances its expenditure through the revenue received from taxes (both direct and indirect). When government expenditure exceeds its revenue received…
Economics… What are the Effects of Debt Financing ? 19 Jul 202019 Jul 2020 What are the Effects of Debt Financing ? Mainly there are two effects - (a) Crowding Out Effect of Debt Financing (b) Wealth Effect of Debt Financing (a) Crowding Out…
Economics… What is Government Borrowing or Debt Financing of Budget Deficit ? 18 Jul 2020 What is Government Borrowing or Debt Financing of Budget Deficit ? Government borrowing is a fiscal method used by the government to mobilise savings of the community for economic development…
Economics… What is Fiscal Policy and Its Objective ? 16 Jul 2020 What is Fiscal Policy and Its Objective ? Fiscal policy is the policy which is related to the Taxation, Expenditure and Borrowing by the Government. Fiscal policy is the most…
Economics… What are the Instruments of Monetary Policy ? 14 Jul 2020 What are the Instruments of Monetary Policy ? The Central Bank of a country has the responsibility of maintaining economic stability by controlling the volume and direction of credit in…
Economics… What is the Concept of Balance of Payments ? 9 Jul 2020 What is the Concept of Balance of Payments ? In the modern world, it is very rare that any country is self sufficient means that it can produce all the…
Economics… What is Capital Output Ratio ? 8 Jul 2020 What is Capital Output Ratio ? Capital output ratio is the amount of capital required to produce output worth Rs.1. If Y stands for output (or income) and K stands…
Economics… Which Factors Determines Economic Growth ? 7 Jul 2020 Which Factors Determines Economic Growth ? - The process of economic growth is highly complex and is influenced by various factors such as social, political, economic and cultural factors. According…
Economics… What is Economic Growth and Development ? 6 Jul 2020 What is Economic Growth and Development ? Economic Growth - It has been defined in two ways - first - Economic growth is defined as a sustained annual increase in…
Economics… Indian Response To The Financial Crisis 5 Jul 2020 Indian Response To The Financial Crisis - The major effects of the financial crisis were - 1. Stock Market Crash 2. Depreciation of Indian Rupee due to capital outflow by…
Business… Impact of Global Financial Crisis on India 4 Jul 2020 Impact of Global Financial Crisis on India - Since 1991 following the policy of globalisation, the Indian economy was also opened to foreign capital and trade of goods and services,…
Business… Global Financial Crisis (2007-09) 3 Jul 2020 Global Financial Crisis (2007-09) - Burst of Sub-Prime Housing Bubble - The Origin of Crisis - From the second half of 2007 in the United States a financial crisis started…
Economics… GATT and WTO 2 Jul 2020 GATT and WTO - General Agreement on Tariffs and Trade (GATT) - During the period of Great Depression (1929-1933) and the Second World War various countries imposed high tariffs on…
Business… Effects of Regional Trade Agreements – Trade Creation and Trade Diversion 1 Jul 2020 Effects of Regional Trade Agreements - Trade Creation and Trade Diversion Liberalisation of trade by eliminating tariffs within a free trade area or customs union has both benefits and costs…
Business… Global Commercial Policy 30 Jun 2020 Global Commercial Policy - Commercial policies are the policies related to the imports and exports of a country. Commercial policy plays a vital role in promoting growth and well being…
Business… Globalisation 29 Jun 202019 Jul 2020 * Globalisation - Introduction Globalisation means different things to different people. In economics, globalisation refers to the increased openness of an economy to the international trade, capital flow, transfer of…
Economics… Effects of Tariffs and Quotas 28 Jun 2020 Effects of Tariffs - Tariffs are used as a trade barrier to protect the domestic industries from foreign competition. We use partial equilibrium approach represented by supply and demand analysis…
Economics… Trade Barriers 27 Jun 2020 Trade Barriers - Despite having many benefits of free trade, various countries have put up barriers to trade. Many instruments are used as barriers to trade but most important are…
Economics… Case for Free Trade 25 Jun 2020 Case for Free Trade - 1. Gains in Output and Well Being From Specialization - The free trade is fundamentally based on the gain in output and well being a…
Economics… Wage Cut and Employment 19 Jun 2020 Wage Cut and Employment - The relationship between the wages and employment always has been a controversial issue between the Keynes and classical economists. Classical economists believed that a cut…
Economics… Concept of Full Employment 18 Jun 2020 Full Employment - Full employment may be defined as the situation in which all those who are willing and able to work at prevailing wage rates are employed for the…
Economics… Unemployment – Concept and Types 17 Jun 2020 Unemployment - Unemployment is defined as a state of affairs in which there are a large number of able bodied persons of working age who are willing to work but…
Business… Market Structures – Monopoly, Oligopoly, Monopolistic, Perfect Competition 16 Jun 202017 Jun 2020 Concept of Market For an individual it would mean a shopping complex or a place where he/she can buy things. But, in economics, the concept of market is very different…
Economics… Quantity Theory of Money – Fisher’s Transactions Approach 14 Jun 202014 Jun 2020 Value of Money and the Price Level - Value of money means its purchasing power in terms of goods and services in general. It depends on the prevalent price level.…
Economics… Keynes’s Theory of Demand for Money 10 Jun 202010 Jun 2020 Keynes's Theory of Demand for Money - How much of his income or resources will a person hold in form of ready money and how much will he lend depends…
Economics… Concept of Demand for Money 7 Jun 2020 Concept of Demand for Money - To understand the concept of demand for money we need to understand Why people demand for money ? According to the classical economists, money…
Economics… Measures of Money Supply 5 Jun 2020 Measures of Money Supply - Many definitions of money supply have been given and many measures have also been developed based on them. Components of money supply have been differentiated…
Economics… Concept of Money Supply 4 Jun 2020 Concept of Money Supply - Money supply plays a very important role in the economic growth of a country. Any increase or decrease in the money supply directly affects the…
Economics… Methods of Credit Control 3 Jun 202015 Jun 2020 Methods of Credit Control - The central bank of a country is the apex body of the monetary system which has the responsibility of controlling the volume and direction of…
Economics… Central Bank and Its Functions 2 Jun 20202 Jun 2020 Central Bank and Its Functions - Central Bank - Central bank is an apex body or institution of the monetary system which regulates the functioning of the commercial banks of…
Economics… Credit Creation By Banks 1 Jun 2020 Credit Creation By Banks Credit creation is one of the most important functions of the banks. How the bank creates credit is not a secret. The banks do not keep…
Economics… Functions of Commercial Banks 30 May 202031 May 2020 Functions of Commercial Banks - The main functions of commercial banks are to receive deposits and advance loans. Banks borrow in form of deposits and lend in form of advances…
Economics… Commercial Banking – Origin and Evolution 29 May 2020 Commercial Bank - It is a business organization which borrows and lends money, and makes profits in the process. The difference between a money lender and a commercial bank is…
Economics… Credit – Meaning, Functions and Purpose 28 May 2020 Credit - Credit is created when one party (a person, a firm) lends money to another party, the borrower. In general, credit mean the finance provided to others at a…
Economics… Importance of Money 26 May 2020 Importance of Money - According to the classical economists, money only affects the price level in the economy and it has no effect on the levels of the real income…
Economics… Managed Currency Standard or Modern Monetary System 25 May 2020 Managed Currency Standard or Modern Monetary System - Paper money has a very important role in our modern economic or monetary system. The term paper money only applies to the…
Economics… Forms of Money 24 May 2020 Money of Account - It is the monetary unit in which the accounts of a country are kept and transactions settled, means, in which general purchasing power, debt and prices…
Economics… Money and Its Functions 23 May 2020 Definition of Money - Professor D.H. Robertson defines money as "anything which is widely accepted in payment for goods or in discharge of other forms of business obligations." According to…
Economics… Evolution of Money 22 May 2020 Before we study what is money, we need to understand its evolution. So, let's begin ... Evolution of Money - In the beginning money wasn't the same as we know…
Economics… Barter System and Its Difficulties 21 May 2020 Barter System and its Difficulties - Barter System - It is system of exchange in which goods or services are exchanged with other goods or services directly. In the starting…
Economics… Economics Terms Series Part 7 – Wealth, Salary, Utility, Miscellaneous 9 May 20209 May 2020 WEALTH The stock of financial and non-financial assets a person or a household owns that have monetary value. SALARY An annual rate of pay, often paid to employees in professional…
Economics… Economics Terms Series Part 6 – Assets, Revenues, Capitals, Sectors, Diseconomies, Population, Merger, Miscellaneous 6 May 2020 PHYSICAL ASSETS Non-financial assets or physical products, such as commercial and residential properties, that have value and therefore contribute to wealth. FINANCIAL ASSETS Non-physical assets, such as bank deposits, shares,…
Business… Passive Income Series – How to create Skill Based Income Source 3 May 202013 Jun 2021 Passive Income - Skill Based Income Source Skill Based Income which can be Passive or Semi-Passive or Semi-Active depending on the skills the person have. Today we will be looking…
Economics… Economics Terms Series Part 5 – Trade, Trade Barriers, Balance of Payments, Stock Market, Stock Exchange, Shares 2 May 20203 May 2020 TRADE The exchange of goods and services, usually for money. INTERNATIONAL TRADE The movement and exchange of physical goods such as materials, component parts, equipment and finished products as well as…
Economics… Economics Terms Series Part 4 – Types of Taxes, Types of Rates, Boom, Recession, Recovery, Growth 1 May 20203 May 2020 PERSONAL INCOME TAX A direct tax on a person’s earnings or income. CORPORATE INCOME TAX A tax on company profits. DIRECT TAX A tax levied on the incomes or wealth…
Economics… Economics Terms Series Part 3 – GDP, Factors of Production, Market, Contrary Miscellaneous 30 Apr 20202 May 2020 APPRECIATION (in the value of a currency) A rise in the rate at which a national currency can be exchanged for another currency or currencies, i.e. a rise in the…
Business… Economics Terms Series Part 2 – Profit, Cost, Budget, Employment, Unemployment, Externality 29 Apr 20203 May 2020 PROFIT A surplus of revenue from the sale of outputs over the costs of their production. LOSS A situation of generating revenue less than cost of production. ABNORMAL PROFIT The…
Business… Economics Terms Series Part 1 – Demand, Supply, Policy, Inflation, Deflation, Import, Export, Wage, Returns to Scale, Economies of Scale 28 Apr 20202 May 2020 ABSOLUTE ADVANTAGE The ability of a country or region to produce a good or service at a lower average cost per unit than any other country or region is able…
Economics… National Income – Limitations of using GDP as an Index of Welfare of a Country 27 Apr 20202 May 2020 # Limitations of using GDP as an Index of Welfare of a Country @ Many goods an services contributing economic welfare are not included in GDP or Non-Monetary Exchanges -…
Business… Business Cycles – Phases of Business Cycles 25 Apr 20202 May 2020 According to Parkin and Bade - “The business cycle is the periodic but irregular up-and-down movements in economic activity measured by fluctuations in real GDP and other macroeconomic variables. A…
Business… Business Cycles – Concept and Features 24 Apr 20202 May 2020 Business Cycle - It is a natural phenomenon of expansion and contraction in the production levels over a period, It is natural and happens with every business and every economy.…
Economics… National Income – Concept – Part 2 23 Apr 20202 May 2020 Real & Nominal Concepts # Real National Income or National Income at Constant Price - When the national income is calculated on the basis of base year price index, then…
Economics… National Income – Concept – Part 1 22 Apr 20202 May 2020 Before we start we need to understand some basic concepts of Income Gross - Whenever we say Gross it means we are including Depreciation to the value of the product.…
Economics… Different Types of Goods in Economy 21 Apr 20202 May 2020 Normal Goods - A normal good is a good whose demand increases with increase in income, and demand decreases when income decreases. It has a direct relationship with income. It…
Business… Market Failure – All That You Want To Know 20 Apr 20202 May 2020 What is Market Failure ? Market is a structure that allows buyers and sellers to exchange any type of goods, services or information. The exchange of goods or services, with…
Business… Oligopoly – It Takes Large Resources To Enter In 16 Apr 20202 May 2020 The term oligopoly has been derived from two Greek words, oligoi means few and poly means control. According to Prof. George J. Stigler, “Oligopoly is a market situation in which…
Business… Monopoly – The Power Player 15 Apr 20202 May 2020 The term monopoly has been derived from a Greek word Monopolian, which means a single seller. Monopoly market is the extreme opposite of Perfect Competition. According to Prof. Thomas, “Broadly,…
Economics… Perfect Competition – Explanation & Features 14 Apr 20202 May 2020 We have briefly explained it in our "Market - Concept & Types A Brief Introduction" post, but for those who missed that, here is the complete details of the topic.…
Business… Monopolistic Competition – Explanation & Real Life Applications 13 Apr 20202 May 2020 We have briefly explained it earlier in our previous post. But in case for those who haven't read that we will discuss it from the Theory to the the Real…
Economics… Market – Concept & Types – A Brief Introduction 12 Apr 20202 May 2020 Concept of Market For an individual it would mean a shopping complex or a place where he/she can buy things. But, in economics, the concept of market is very different…
Business… Multiple Sources of Income 11 Apr 202013 Jun 2021 What is it's meaning and How it works ? Basically when you have income coming from more than one or two source, on which you primarily depends for your survival…
How Human's Works… Consumer Behavior in Everyday Life 10 Apr 20202 May 2020 What do you understand by consumer behavior? This is actually so simple, and you can see its meaning coming to your head, .... But for the sake of those who…
Business… Rich Vs Poor in Hard Time’s of Economy 9 Apr 20202 May 2020 Today we will be talking about how the hard times affects the people with different income levels in society, The Riches, The Poor's & The Middle Class. Before we start…
Communication… Communication – Concept, Characteristics & Process 6 Apr 20202 May 2020 Communication - Theoretical Concepts Today we will be working on theoretical concepts of communication. Theoretical concept is important for NTA UGC NET Aspirants who are preparing to be Professionals in…
Investing… Investing – Concept & Rules 5 Apr 20202 May 2020 Investing Concept & Rules Investing has it's own importance in every persons life. There are two things which every person invests knowingly or unknowingly. These are TIME & MONEY. If…
Communication… Communication – Effective Communication 4 Apr 20202 May 2020 Effective Communication How can we define Effective Communication ? Obviously everyone knows what is communication, communication is as old as the human civilization, In old times we started communication with…
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