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Indian Economy Complete PDF (Discovery) For All Competitive Exams

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 Indian Economy Complete PDF (Discovery) For All Competitive Exams

 

Today, we are sharing an Indian Economy Complete PDF (Discovery) For All Competitive Exams . This Indian Economy Complete PDF (Discovery) is very useful for the upcoming competitive exams like SSC CGL, BANK, RAILWAYS, RRB NTPC, LIC AAO, and many other exams. This is Indian Economy Complete PDF (Discovery) For All Competitive Exams very useful for the upcoming competitive exams like SSC CGL is very important for any competitive exam and this is very useful for it. this FREE PDF will be very helpful for your examination.

 

 

MyNotesAdda.com is an online Educational Platform, where you can download free PDF for UPSC, SSC CGL, BANK, RAILWAYS, RRB NTPC, LIC AAO, and many other exams. Our Indian Economy Complete PDF (Discovery) For All Competitive Exams is very Simple and Easy. We also Cover Basic Topics like Maths, Geography, History, Polity, etc and study materials including previous Year Question Papers, Current Affairs, Important Formulas, etc for upcoming Banking, UPSC, SSC CGL Exams. Our PDF will help you to upgrade your mark in any competitive exam.

 

Topics Include In  Indian Economy Complete PDF (Discovery) For All Competitive Exams

  • Basic Concepts
  • National income
  • Planning In India
  • Mobilization of Resources

                                                                                                    Basic Concepts

 What is the definition of economy? 

Put simply the economies involve all production and consumption-related activities as well as the trade of goods and services in a country. An economy is often synonym of the economic system. Therefore, it includes the distribution of resources to the factors of production as well the labor and capital required for the production factors to produce an output.

 

Also, based on the openness of an economy, it is classified as an open economy and closed economy, or a planned economy where the government has the entire control of the factors of production and how they will be allocated like for example in the ex-Communist countries.

                                                                      National income

 

Introduction of National income:-  is an uncertain term which is used interchangeably with national dividend, national output and national expenditure. On this basis, national income has been defined in a number of ways. In common parlance, national income means the total value of goods and services produced annually in a country.

In other words, the total amount of income accruing to a country from economic activities in a year’s time is known as national income. It includes payments made to all resources in the form of wages, interest, rent and profits.

 

Contents:

 

  • Definitions of National Income
  • Concepts of National Income
  • Methods of Measuring National Income
  • Difficulties or Limitations in Measuring National Income
  • Importance of National Income Analysis
  • Inter-Relationship among different concept of National Income

1. Definitions of National Income:

The definitions of national income can be grouped into two classes: One, the traditional definitions advanced by Marshall, Pigou and Fisher; and two, modern definitions.

The Marshallian Definition:

According to Marshall: “The labour and capital of a country acting on its natural resources produce annually a certain net aggregate of commodities, material and immaterial including services of all kinds. This is the true net annual income or revenue of the country or national dividend.” In this definition, the word ‘net’ refers to deductions from the gross national income in respect of depreciation and wearing out of machines. And to this, must be added income from abroad.

 

It’s Defects:

 

Though the definition advanced by Marshall is simple and comprehensive, yet it suffers from a number of limitations. First, in the present day world, so varied and numerous are the goods and services produced that it is very difficult to have a correct estimation of them.

 Consequently, the national income cannot be calculated correctly. Second, there always exists the fear of the mistake of double counting, and hence the national income cannot be correctly estimated. Double counting means that a particular commodity or service like raw material or labour, etc. might get included in the national income twice or more than twice.

 

And Many More…. 

 


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Topic name:-  Indian Economy Complete PDF (Discovery) For All Competitive Exams

Number of Pages:- 262


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TAGS:- Basic features of Indian economy Wikipedia, Features of Indian economy notes, Characteristics of Indian economy 2018, Characteristics of Indian economy UPSC, Features of Indian economy 2017, Explain the features of Indian economy class 10, Meaning of Indian economy pdf, Features of Indian economy SlideShare

 

 

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