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Consider the following statements: The Central Statistical Organization was established on 2 May 1951 on the basis of recommendations of the National Income Committee. This organization issued the first series of national income in...
Definition of monetary policy: Economic strategy chosen by a government in deciding expansion or contraction in the country’s money-supply. Applied usually through the central bank, a monetary policy employs three major tools.
Definition of Demand. In economics, demand represents the customer’s desires and preferences for a particular product, for which he is ready to pay. The quantity (how much) of the product is demanded at a certain price, i.e. the equilibrium between quantity demanded and price, is demand for a …
Definition of Economics:-Economics is a science which studies human behaviour as a relationship between ends and scarce means which have alternative uses.
