Concept of Production: Production Function and Law of Variable Proportions Concept of Production: production: The act of making goods and services is called production. It is also defined as the …
CHANGE IN SUPPLY (Shift in Supply curve) Change in supply refers to the supply of a commodity change due to change in any factors other than the own price of …
Change in Demand Or Shift in Demand curve Change in Demand Or Shift in Demand curve Change in Demand refers to the demand for commodity changes due to changes in …
Aggregate Demand (AD) Aggregate Demand (AD) refers to the total value of final goods and services that all the sectors of an economy are planning to buy at a given …
FACTORS AFFECTING DEMAND OR DETERMINANTS OF DEMAND Factors affecting demand Or Determinants of demand – The factors which affect the demand for a commodity are known as Determinants of demand or …
BALANCE OF PAYMENTS BALANCE OF PAYMENTS? The balance of payments is a systematic record of all economic transactions between the residents of a country and the rest of the world …
National Income Meaning National Income refers to the money value of all final goods and services produced by normal residents of a country during an accounting year, Out of this depreciation …
Circular Flow of Income Circular Flow of Income Circular flow of income refers to the cycle of the generation of income in the production process, and its distribution among the …
NITI AAYOG नीति आयोग NITI Aayog नीति आयोग NITI Aayog(नीति आयोग) was formed on 1st January 2015 replacing the old Planning Commission which was formed in 1950. The word “NITI” is …
Government Budget A government budget is a consolidated financial statement prepared by the government on expected public expenditure and public revenue during a financial year. Or A government budget is …