Notes and Study material for Exams
Understanding the Economic Engine: A Deep Dive into Gross Domestic Product at Market Prices (GDP-MP) The health of a nation’s economy is a complex tapestry woven from various threads. One of the most crucial threads, and a key indicator of economic well-being, is the Gross Domestic Product at Market Prices (GDP-MP). This article delves into … Read more
Commission for Agricultural Cost and Prices (CACP) The Commission for Agricultural Cost and Prices (CACP) is an autonomous body under the Ministry of Agriculture and Farmers Welfare, Government of India. It was established in 1965 to advise the government on matters relating to agricultural costs, prices, and production. The CACP is headed by a Chairman, … Read more
Definition of Globalization-3/”>Globalization :- Its a process(not an outcome) characterized by increasing global Interconnections by gradual removal of barriers to trade and Investment between nation and higher economic efficiency through competitiveness. Various economic, political, social and cultural effects of globalization are as follows:- [su_heading size=”21″]Economic:-[/su_heading] Breaking down of national economic barriers International spread of Trade, … Read more
Deflation: The Silent Threat to Economic Growth Deflation, the persistent decline in the general price level of goods and services, is often seen as the opposite of inflation. While inflation erodes the purchasing power of money, deflation increases it. However, this seemingly positive effect can have devastating consequences for an economy, leading to a vicious … Read more
The Wholesale Price Index: A Vital Gauge of Inflation and Economic Health The Wholesale Price Index (WPI) is a crucial economic indicator that tracks the average change in prices received by domestic producers for their products at the wholesale level. It provides valuable insights into the inflationary pressures within an economy, offering a forward-looking perspective … Read more
What is Inflation? Understanding the Erosion of Purchasing Power Inflation is a pervasive economic phenomenon that affects everyone, from individuals to businesses and governments. It refers to the sustained increase in the general price level of goods and services in an economy over a period of time. While a small amount of inflation is generally … Read more