Demonetization refers to an economic policy where a certain currency unit ceases to be recognized or used as a form of legal tender. In other words, a currency unit still loses its legal tender status as a new one comes into circulation. The government can take such decisions to stop the … [Read more...]
Globalization: Its Meaning and Importance
Globalization is a word that is all too familiar because it's often used in the mainstream media or we read about it in different publications. So what is globalization? Globalization can simply be defined as the process of going global. The word globe as we know it refers to earth. So when … [Read more...]
Market Economy: Meaning, Features, Advantages and Disadvantages
Introduction: An economy is usually composed of different players. The economy of a given region basically involves the production, distribution, and consumption of products and services within that area. It entails the activities that people engage in to earn a living. Different types of … [Read more...]
Short Paragraph on Globalization
Globalization is the process where people, organizations, companies and nations interact and integrate. This is through international trade and the development of technology. Globalization has a number of impacts on the economic, social and political structures of a nation. There are both … [Read more...]
Globalization: Advantages and Disadvantages of Globalization
Globalization is a phenomenon that affects all of our lives. More and more, we find ourselves living in a globalized society and this helps to shape everything from how we do our business deals to how we make friends - even how we love. But what exactly is globalization, and is it any good for … [Read more...]
How to Control Water Pollution?
Water pollution means the contamination of water bodies. These water bodies include rivers, oceans, groundwater, lakes, and rivers. You can use a broad range of implementable and simple ways to control the pollution of water resources. Below are 25 ways to control water pollution. 1. Keep out … [Read more...]
Inflation: Types, Causes, Effects and Remedies
What is Inflation? Inflation refers to a situation when there is an overall increase in the prices of goods leading to a general decline in the value of money. Types We will discuss the two major types of inflation: 1. Demand Pull Inflation: Inflation arises when there is an increase in the … [Read more...]
What part does labor play in the economic progress of a country?
Economic progress of a country is vitally dependent on its labor supply. By labor should be meant not only the number of workers but also their efficiency. A highly developed state of industrialization, no less than a prosperous agriculture, requires a plentiful supply of skilled and efficient … [Read more...]
What is Mobility of Labor?
What is Mobility of Labor? Movement of Laborers or workers, from place to place, profession to profession, and from one grade to another grade, is known as mobility of labor. Movement of laborers or workers from one place to another by the prospects of better wages is called geographical or … [Read more...]
Labor in Economics: Definition, Meaning and Factors affecting Supply of Labor
Labor in Economics Definition and Meaning Ordinarily, any physical exertion of man may be regarded as labor, whatever its object may be. However, all labor is not economic labor. Only “that part of man’s physical or mental exertion is labor, which is willingly or unwillingly undergone with the … [Read more...]