parameters of economy

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MEANING & PARAMETERS OF ECONOMY.

WAT IS ECONOMY?:

WAT IS ECONOMY? ECONOMY IS THE COLLECTIVE RESOURSE BASE AND PRODUCTION CAPABILITIES AND SERVICE CAPACITY IN ALL OF A COUNTRY. A SYSTEM OF PRODUCING, DISTRIBUTING AND CONSUMING WEALTH.

TYPES OF COUNTRIES:

TYPES OF COUNTRIES DEVELOPED COUNTRIES. DEVELOPING COUNTRIES. DEVELOPING COUNTRIES ARE DIVIDED AS LOW INCOME – GNI PER CAPITA 906 $ OR BELOW. MIDDLE INCOME - GNI PER CAPITA BETWEEN 906 $ TO 1115$. HIGH INCOME - GNI PER CAPITA AS 115$ AND ABOVE.

STATE OF INDIAN ECONOMY:

STATE OF INDIAN ECONOMY GROWTH LEVEL OF INDIAN ECONOMY. STRUCTURE OF INDIAN ECONOMY . VARIOUS SECTORS ARE :- PRIMARY SECTOR( 58.7 % IN NATIONAL INCOME) SECONDARY SECTOR 14.3 % IN NATIONAL INCOME) TERTIARY SECTOR(27% IN NATIONAL INCOME)

TYPES OF ECONOMY:

TYPES OF ECONOMY CAPITALIST ECONOMY. SOCIALISTIC ECONOMY. MIXED ECONOMY.

CHARACTERSTICS OF INDIAN ECONOMY:

CHARACTERSTICS OF INDIAN ECONOMY LOW PER CAPITA INCOME. OCCUPATIONAL PATTERNS. HEALTHY POPULATION PRESSURE. PRIVILENCE OF CHRONIC UNEMPLOYMENT AND UNDEREMPLOYMENT. SLOW RATE OF CAPITAL FORMATION. POOR QUANLITY OF HUMAN CAPITAL. LOW LEVEL OF TECHNOLOGY. LOW LEVEL OF LIVING STANDARDS . DEMOGRAPHIC DIFFERENCE IN INDIAN ECONOMY.

PARAMETERS OF ECONOMY:

PARAMETERS OF ECONOMY PER CAPITAL INCOME GDP & NATIONAL INCOME INFLATION / STAGFLATION POVERTY & POVERTY LINE UNEMPLOYMENT RATE LIFE & DEATH RATE LITERACY & LITERACY RATE

GROSS DOMESTIC PRODUCT.:

GROSS DOMESTIC PRODUCT. “GDP IS THE SUM OF MONEY VALUES OF ALL FINAL GOOD & SERVICES PRODUCED WITHIN THE DOMESTIC TERRITORIES OF A COUNTRY DURING AN ACCOUNTING YEAR.” ITS INCLUDES INCOME FROM EXPORTS AND PAYMENT MADE ON IMPORTS DURING THE YEAR.

INFLATION:

INFLATION CONTINOUSLY RISE IN PRICES DEMAND PULL INFLATION – LEAD TO RISE IN PRICES COST PUSH INFLATION – PRICES OF RAW MATERIAL INCREASE & HENCE THE RISE IN PRICES.

POVERTY & POVERTY LINE:

POVERTY & POVERTY LINE UNABLE TO GET MINIMUM BASIC NECCESITY I.E FOOD,CLOTHING AND SHELTER. TWO METHODS USED FOR CALCULATION OF POVERTY LINE: INCOME METHOD – ITS FIXED BY GOVERNMENT. FOR RURAL FIXED 328/- PER CAPITA MONTH & FOR URBAN AREAS 454 /- PER CAPITA MONTH WAGES IN 1999-2000. EXPENDITURE METHOD – THEY FIXED CALORIES FOR RURAL 2400 CALORIES PER PERSON & 2100 CALORIES PER PERSON IN URBAN

UNEMPLOYMENT & UNEMPLOYMENT RATE:

UNEMPLOYMENT & UNEMPLOYMENT RATE INDIVIDUALS SEEKING JODS BUT REMAINS UNHIRED THE COUNTRY IS UNABLE TO PROVIDING JOBS TO ALL PERSONS WILLING AND CAPABLE TO THE JOBS UNEMPLOYMENT RATE = UNEMPLOYMENT WORKERS /TOTAL LABOUR FORCE

LITERACY AND LITERACY RATE:

LITERACY AND LITERACY RATE AN ABILITY TO READ & WRITE AT AN ADEQUATE SPEED NEESSARY FOR COMMUNICATION. FACILITATE FOR SELF EMPLOYMENT. LITERACY RATE = NO. OF LITERATES\ TOTAL POPULATION 1947 – 17 AGE & ABOVE – 12% LITERACY RATE AND NOW -17 AGE & ABOVE – 68% LITERACY RATE

LIFE AND DEATH RATE:

LIFE AND DEATH RATE LIFE RATE IS THE EXPECTED NO. OF YEARS OF LIFE REMAINING AT A GIVEN AGED OF 18 IS 60 YRS.

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