Food Inflation When food prices rise in the developed world it is an inconvenience, something to grumble about. But, when food prices rise in the developing world it can make…
Civil Services (Main) Examination (Written and Interview) for the selection of candidates for the various services and posts The written examination will consist of the following papers: Paper-I and II:…
Graph showing Increase in AD AD can increase for the following reasons: Increased wages. Higher real wages increase disposable income and encourage consumer spending. Increased government spending (G). Fall in…
UPSC Preliminary Civil Services Examination 2016 will commence on 7th August 2016 and the last date for receipt of application is 20th May 2016. General Studies Paper I Maximum marks: 200 Number…
Sustainable Development Sustainable development is the concept of needs and limitations imposed by technology and society on the environment’s ability to meet the present and future needs. It states that…
The growth rate of HDI (1980 - 2012) India – 1.3% China – 1.7% Europe – 0.5 % World – 0.7 Types of Human Development Indicators Very high Human Development…
The concept of National Income and related aggregates Gross vs. Net Net Value = Gross – Depreciation (consumption of fixed capital) Depreciation – Reduction in the value of capital goods…
(1) MR = MC When one more unit of output is produced, MR is the gain and MC is the cost to the producer, so as long as the benefit…
Market Equilibrium A situation in which the supply of an item is exactly equal to its demand. Since there is neither surplus nor shortage in the market, price tends to…
Tax Reforms Tax reforms are concerned with the reforms in government’s taxation and public expenditure policies which are collectively known as its fiscal policy. There are two types of taxes:…