Introduction: The term “trade cycle,” also known as the business cycle or economic cycle, refers to the recurrent fluctuations in economic activity that occur over time in a market economy. The features of business cycle…
Meaning: The term “trade cycle,” also known as the business cycle or economic cycle. It refers to the recurrent fluctuations in economic activity that occur over time in a market economy. These fluctuations typically involve…
Introduction: keynes theory is based on empirical foundation and has policy implication. Keynes did not have much faith in laissez- faire policy and its automatic adjustment for optimization. Explanation of Keynes theory favored capitalism he…
Introduction: Say’s law of market is the foundation theory of classical economics. Assumptions of full employment as a normal condition of a free market economy are justified by classical economics by a law known as…
Meaning: The total income of the nation is called national income. The aggregate economic performance of the whole economy is measured by the national income data. In fact national income data provides summary statement of…
Meaning: The total income of the nation is called national income, the aggregate economic performance of the whole economics is measured by the national income data. In fact national income data provides summary statement of…
Introduction: National income accounting is not an easy task .A number of difficulties arise in the measurement of National income. Some of the difficulties in the estimation of national income are discussed below. Difficulties in…
Meaning: The total income of the nation is called national income. The aggregate economic performance of the whole economics is measured by the national income data. In fact national income data provides summary statement of…