Economics

MEANING OF MONOPOLY: A monopoly is a market situation where there is only one seller of a product with barriers to entry and exit of others. The products have to close substitutes. The case elastically of demand with every product is shallow. Monopolistic can sell his commodity at any price …

INTRODUCTION: Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context. The main functions of money are distinguished as a medium of exchange, a unit of account, a store of value, and …

DEMONETIZATION: Demonetisation is the act of stripping a currency unit of its status as legal tender. It occurs whenever there is a change of national currency: The current form of money is pulled from circulation and retired, often to be replaced with new notes and coins. Sometimes, a country completely …

INTRODUCTION: A Government Budget is an annual statement presenting the Government proposed revenues and spending for a financial year that is often passed by the legislature, approved by the Chief Executive or president, and presented by the finance minister to the nation. The budget is also known as the Annual …

INTRODUCTION: A wide range of reforms is happening in our country, like political and economic reforms. Among these, economic reforms are mainly taken into consideration by ordinary people. Some of the significant economic policies are demonetization and Goods and Service Tax (GST). GST is one of the biggest tax reforms …

INTRODUCTION: Demand is an economic principle touching on a consumer’s want to get products and services and disposition to pay a value for a particularly smart or service. Holding all different factors constant, a rise within the value of a decent or service can decrease the number demanded, and the …

INTRODUCTION: To put it simply, Inflation is a long term rise in the prices of goods and services by the devaluation of the currency. Inflation problems arise when we experience unexpected inflation which is not adequately matched by a rise in people’s income. If incomes do not increase along with …