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Economics Made Easy
Economics Made Easy
Economics Made Easy
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P V Rajeev
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CONTENTS
Preface���������������������������������������������������������������������� vii
v
PREFACE
P V Rajeev
Mob: +919911007209
E-mail: pv.rajeev54@rediffmail.com
vii
Chapter I
THE ECONOMY
5
Chapter II
FACTORS OF PRODUCTION
10
Chapter III
PRICE DETERMINATION
14
Chapter IV
MARKET STRUCTURE
23
Chapter VI
POPULATION GROWTH
AND UNEMPLOYMENT
29
Economics Made Easy
30
Chapter VII
MONEY SUPPLY AND INFLATION
37
Chapter VIII
PUBLIC FINANCE AND
FISCAL POLICY
50
Chapter X
POVERTY AND ECONOMIC
DEVELOPMENT
52
Poverty and Economic Development
Primary production including agriculture and mining
often accounts for a large proportion of the GNP in
underdeveloped countries. As against this, the contribution
to GNP by the primary sector is much lower in the
industrialized countries. Moreover, the productivity of
labor is usually much higher in the industrial countries
where mechanized farming is the rule and consequently
the proportion of the labor force employed in the primary
sector is very low in developed countries and very high in
the developing countries.
54
Poverty and Economic Development
purpose of massive infrastructure building activities and
other programs of economic development
56
Poverty and Economic Development
It is not an easy task to measure the extent of poverty
that prevails in a country. One such method is to identify
a certain level of income as the poverty line and to
consider all people having income less than the poverty
line as being poor. One way of defining poverty line is
to identify it with that level of income which enables an
individual to buy sufficient food and other essential
goods so that he does not have to suffer from hunger
and malnutrition. All individuals who do not earn
even this level of income are considered to be living
below the poverty line. The proportion of a country’s
population living below the poverty line may be
considered to be a measure of the extent of poverty
that prevails in a country. It has been estimated that
about 25 per cent of the population of India continues
to live below the poverty line even after almost 60 years
of planned development after the country gained
independence. For an advanced country like USA an
entirely different definition of poverty will have to be
used to study the problem of poverty; for in that country,
hunger and malnutrition is no longer the pressing
problem of the economically disadvantaged sections of
the population.
59
Chapter XI
LIMITS TO GROWTH
AND URBANIZATION
65
Chapter XII
ECONOMIC SYSTEMS
69
Chapter XIII
ECONOMIC FORECASTING
73
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