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 …
What is the Production Possibility Curve.
Production Possibility Curve It refers to the graphical representation of various possible combinations of two goods and services that an economy can produce with the …
What is Economic System ?
Concept of Economy/Economic system It refers to the system by which people earn their livelihood (food, shelter, clothing, housing, health care, etc.) The economy is …