Eco-system — what are its components? All the interacting organisms in an area together with the non-living constituents of the environment form an ecosystem. an ecosystem consists of biotic components…
Resources On The Earth the land, the water and the air, outer crust of the Earth is called the lithosphere, Water covers 75% of the Earth’s surface comprise the hydrosphere,…
PATTERNS OF POPULATION DISTRIBUTION IN THE WORLD The term population distribution refers to the way people are spaced over the earth‘s surface.90 per cent of the world population lives in…
Rainfall is measured by an instrument called the rain gauge. It is basically a measuring cylinder with a funnel on top to collect rainwater. The day to-day condition of the…
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In 1985 United Nations adopted the UN Guidelines for Consumer Protection.This was a tool for nations to adopt measures to protect consumers and for consumer advocacy groups to press their…
A MNC is a company that owns or controls production in more than one nation.MNC is not only selling its finished products globally, but more important, the goods and services…
When both parties agree to sell and buy each other’s commodities. It is known as double coincidence of wants. It is a matter where a person desires to sell is exactly…
Primary sector- The cultivation of cotton Takes place within a crop season, we depend mainly on natural factors like rainfall, sunshine and climate.an activity like dairy, we are dependent on the…
For comparing countries, their income is considered to be one of the most important attributesAverage income- the total income of the country divided by its total population.The average income is…
An open economy is one that trades with other nations in goods and services and, most often, also in financial assets. Indians, for instance, enjoy using products produced around the…
COMPONENTS OF THE GOVERNMENT BUDGET There is a constitutional requirement in India (Article 112) to present before the Parliament a statement of estimated receipts and expenditures of the government in…
The basic objective of macroeconomics is to develop theoretical tools, called models, capable of describing the processes which determine the values of these variables. Specifically, the models attempt to provide…
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Introduction: commonly accepted medium of exchange. Economic exchanges without the mediation of money are referred to as barter exchanges. However, they presume the rather improbable double coincidence of wants. To…
SOME BASIC CONCEPTS OF MACROECONOMICS The economic wealth, or well-being, of a country thus does not necessarily depend on the mere possession of resources; the point is how these resources…
EMERGENCE OF MACROECONOMICS Macroeconomics, as a separate branch of economics, emerged after the British Economist John Maynard Keynes published his celebrated book The General Theory of Employment, Interest and Money…