Notes and Study material for Exams
The following are subtopics of GDP deflator: Definition Formula Calculation Uses Limitations Examples Related topics The GDP deflator is a measure of the level of prices of all final goods and services produced in an economy in a given year compared to a base year. It is calculated by dividing the nominal GDP by the … Read more
CONTRACTS AND Consumer protection A consumer contract is a legally binding agreement between you and the consumer concerning the sale of goods or the supply of Services. Elements of a Contract Offer An offer is a promise to act or refrain from acting, which is made in exchange for a return promise to … Read more
Role of Commercial Banks A Commercial bank is a type of financial institution that provides Services such as accepting deposits, making business loans, and offering basic Investment products There is acute shortage of capital. People lack initiative and enterprise. Means of transport are undeveloped. Industry is depressed. The commercial banks help in overcoming these obstacles and promoting … Read more
The Banking System at the time of independence was largely urban oriented and remained out of reach of rural Population. Commercial Banks mostly confined their lending to trade, commerce and Industry and treated agriculture as a non priority. Security- oriented lending was the order of the day. Banks did not pay any attention to the … Read more
The Consumer Price Index: A Vital Gauge of Inflation and Economic Health The Consumer Price Index (CPI) is a crucial economic indicator that measures the average change over time in the prices paid by urban consumers for a basket of consumer goods and services. It serves as a vital gauge of inflation, providing insights into … Read more
The National Anti-Profiteering Agency: A Bastion Against Unfair Gains in India The Indian economy, characterized by its vastness and complexity, is susceptible to instances of profiteering, where individuals or entities exploit situations to gain undue financial advantage at the expense of others. Recognizing this vulnerability, the Indian government established the National Anti-Profiteering Authority (NAA) in … Read more
Code of ethics Ethics codes are as old as antiquity. Religious traditions and civic cultures have codes as their foundations. The Mosaic Decalogue (Ten Commandments) is the keystone for Judaism, Islam and Christianity. Pericles made the Athenian code the underpinning of ancient Greek politics and culture. In each case codes carry general obligations … Read more
Social reform measures by British Government (1828 to 1857) Hinduism in particular had become a compound of magic, animism, and superstitions. The abominable rites like animal sacrifice and physical torture had replaced the worship of God. The priests exercised an overwhelming and unhealthy influence on the mind of people. The faithful lived in … Read more
Consumer protection and Remedies In regulatory jurisdictions that provide for it (comprising most or all developed countries with free market economies), consumer protection is a group of laws and organizations designed to ensure the rights of consumers as well as fair trade, competition and accurate information in the marketplace. The laws are designed … Read more
Engineering Plastics Engineering plastics are a group of plastic materials that have better mechanical and/or thermal properties than the more widely used commodity plastics (such as polystyrene, PVC, polypropylene and polyethylene). Being more expensive, engineering plastics are produced in lower quantities and tend to be used for smaller objects or low-volume applications (such as mechanical … Read more