Explain the merits and demerits of Direct tax.
Introduction: Taxes are compulsory payment to the government without expectation of definite return or benefits to the tax…
What is production? explain its types.
Meaning: Production involves the use of various inputs or factors services to produce output. In economics production means…
Explain the Keynes savings and investment theory.
Introduction: Saving function is the counter part of consumption function because S=Y-C. Therefore S=f(Y). Saving means economic surplus,…
Explain the liquidity preference theory of interest?
Introduction: J.M Keynes created the theory of liquidity preference theory of interest to explain the role of the…
Explain Keynesian psychological law of consumption.
Introduction: The Keynesian concept of consumption function stems from the fundamental psychological law of consumption which states that…
Explain the classical theory of employment.
Introduction: The classical economist believed in the existence of full employment in the economy. To them full employment…
Explain the importance of estimation of national income.
Introduction: The estimation of national income refers to the process of calculating the total economic output of a…
Explain the precautions in the estimation of national income.
INTRODUCTION: The estimation of national income refers to the process of calculating the total economic output of a…
What is Macro economics? explain the merits and demerits.
Meaning: Macro economics is that branch of economics which deals with the study of aggregate or average behavior…