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Basic Concepts of Economics
In this article, you will learn basic concepts of Economics. Human wants are countless and are of various kinds. A human is a bundle of desires, with wants infinite in variety and number.» Read more
Meaning and types of Economy
In this article, you are going to read about different types of economies. An economy is a system which provides people with goods and services and directly or indirectly satisfies their wants.» Read more
Meaning and Definition of Economics
Economics studies the economic behaviour of individuals and organizations 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.» Read more
Basic Problems of an Economy
Professor Lionel Robbins provided the following reasons for the emergence of economic problems: Human wants are unlimited because there is no end to human wants.» Read more
Characteristics of the Indian Economy
The Indian economy consists of all the production units or institutions such as farms, factories, workshops, railways, hospitals, schools and banks.» Read more
Industry
Industrialisation is a process that involves the substitution of machine power with manpower. It refers to the growing mechanisation in the production process in the industrial sector.» Read more
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.» Read more
The problem of Unemployment in India
Various types of unemployment are prevailing in India. Unemployment refers to a situation when all able and willing persons of a country do not get suitable opportunities to work.» Read more
Human capital formation in India
The main aim of human capital formation in India is to make human beings in a nation more productive. Expenditure on education and health was incurred through the three tiers of the government—union government, state government and local government.» Read more
Poverty in India
In pre-independent India, Dadabhai Naoroji was the first person to discuss the concept of a poverty line. Poverty is the inability to secure the minimum human needs of food, clothing, housing, education and health.» Read more