Economy

The importance of coal as a fuel or power resource cannot be overestimated. The economic development of any country largely depends upon its industrial progress. And, the industrial development of a country largely depends upon its…

Though the Private Sector businesses are actuated by motives of private gain, it would be unkind to minimize the value of their contribution to the growth of our industrial life. Private sector businesses play an important role in…

India’s progress in modernization of Industries has been quite impressive. India is a fast growing major economy. It size is vast. There is a rising graph of growing requirements for all kinds of products. The cement industry is said to be…

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…

It is said that “agriculture is the backbone of Indian economy.” To an agriculturist, water is more valuable than gold. Most Indian crops require abundant, at least sufficient, supply of water. Where there are no irrigation works, the…

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…

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…

Benefits / Advantages of Moderate Inflation In spite of its many drawbacks, inflation, it must be admitted, inflation is not totally undesirable. A moderate rate of inflation (for example 2 %) has some advantages over deflation and…

How can government control inflation? Though inflation may help the growth and development of a country’s economy, many evils associated with it cannot be minimized and any Government acknowledging responsibility to its people has the…

What is Inflation? Inflation may be defined as a situation in which too many people purchase too few goods. The purchasing power of the money goes down and the prices not only of luxury goods but of many essential commodities such as rice,…