Food security in India
Food security in India is essential for the poor. Food security is required in the country because more than a quarter of the Indian population is living below the poverty line.
Economics
Food insecurity
Food insecurity is when people are unable to afford and secure sufficient quantities of nutritious food for their family. Food security in India is essential for the poor.
Food security
Food security is when people are able to afford and secure sufficient quantities of nutritious food for their family. Food security in India is essential for the poor.
Cottage and Small-scale Industries
Small-scale industries (SSI) and cottage industries (CI) can be established easily within a short span of time. They produce at a greater speed and consequently provide faster returns to their owners.
Industrialisation in India
Industrialisation is a process which involves the substitution of machine-power with man-power. It refers to the growing mechanisation in the production process in the industrial sector.
Basic Economic Problems
Professor Lionel Robbins provided the following reasons for the emergence of economic problem: Human wants are unlimited because there is no end to human wants.
Meaning and Definition of Economics
Economics studies the economic behaviour of individuals and organization in society. It also studies individuals and organizations engaged in economic activities concerned with the production, distribution and consumption of goods and services. Hence, Economics is regarded as the queen of all social sciences.
Scarcity in Economics
The scarcity definition was given by Professor Lionel Robbins in his book An Essay on the Nature and Significance of Economic Science published in 1932. He stated that Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.
Welfare in Economics
The welfare definition was propounded by Dr Alfred Marshall in his book Principles of Economics in 1890. According to him, “Economics is a study of mankind in the ordinary business of life.
Wealth In Economics
The famous book An Inquiry into the Nature and Causes of Wealth of Nations was written by Adam Smith. Adam Smith stated, “Economics is concerned with an enquiry into the nature and cause of wealth of nations, and it is related to the laws of production, exchange, distribution and consumption of wealth.”