WHAT IS THE MEANING OF DOMESTIC TERRITORY?
DOMESTIC TERRITORY OR ECONOMIC TERRITORY: It refers to the political frontiers of a nation within which person, capital, and goods & services can move freely. …
WHAT ARE THE METHODS OF CALCULATING NATIONAL INCOME
METHODS OF CALCULATING NATIONAL INCOME Value-added method Expenditure method Income method In India, The Central Statistics Office (CSO) calculates India’s GDP. It comes under the …
BUDGETARY DEFICIT EXPLAINED [2021]
MEASURES OF BUDGETARY DEFICIT REVENUE DEFICIT: It refers to an excess of government revenue over its revenue receipts during the fiscal year. Symbolically, REVENUE DEFICIT= …
WHAT ARE THE COMPONENTS OF GOVERNMENT BUDGET WITH QUESTIONS ?
COMPONENTS OF GOVERNMENT BUDGET Components of government budget refer to the structure of the government budget. It shows the various sources by which the government …
BALANCE OF PAYMENTS [Explained]
BALANCE OF PAYMENTS BOP: The balance of payments of a country is a systematic record of all economic transactions b/w its residence and the rest …
Demand | Definition of Demand | Explained
Demand The term demand is used in a different sense in economics in the normal course of action the desire or wants to purchase a …
Top 33 Questions on Human Capital Formation
Questions on Human Capital Formation Q1. Define Human Capital? Ans. It refers to the stock of skill, ability, expertise, Education, and Knowledge in a nation …
WHAT IS POSITIVE AND NORMATIVE SCIENCE ? [Explained]
Positive and Normative science explained Meaning of Positive Economics POSITIVE STATEMENTS :Positive statements/ Science/ Economics: – they are that statements in which analysis is confined …
Micro and Macro Economics | Explained
Micro and Macro Economics Explained Microeconomics: – The term Microeconomics is derived from the Greek word “MIKROS”. Meaning “Small”. The term was first coined by …