Economics
Theories of Economics
Theories of Economics Economics is the study of how individuals, firms, and societies make decisions about the allocation of scarce resources. Over the centuries, economists have developed a wide range of theories to explain and understand economic phenomena. These theories can be grouped into different schools of thought, each with its own unique perspective on ho…
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Saving
Atal Pension Yojna
Atal Pension Yojna (APY) The Atal Pension Yojana (APY) is a government-backed pension scheme in India that is administered by the Pension Fund Regulatory and Development Authority (PFRDA). It is designed to provide a guaranteed pension to individuals in the unorganized sector, such as small farmers, self-employed workers, and others who do not have access to a forma…
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Saving
Saving Schemes
Top 10 Government of Indian Saving Schemes Here are the top 10 government-backed saving schemes in India, along with a brief description of their benefits: Public Provident Fund (PPF): Long-term, tax-saving investment scheme Guaranteed returns Eligible for tax deductions under Section 80C of the Income Tax Act Interest is tax-free Partial withdrawal and loan facilit…
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IES
IES - Lerner Index of Monopoly Power
IES (Indian Economics Service) - [General Economics Paper - I (Section A) Question - 1 (b) 2022] Discuss the Lerner Index of monopoly power ? Answer : The Lerner Index is a measure of the degree of monopoly power in a market. It is named after economist Abba Lerner, who developed the concept in the 1940s. The Lerner Index is calculated by dividing the difference …
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IES
IES - Demand Elasticity
IES (Indian Economics Service) - [General Economics Paper - I (Section A) Question - 1 (a) 2022] Show that the ordinary demand curve will have a greater demand elasticity than the compensated demand curve. Answer: The ordinary demand curve shows the relationship between the quantity demanded of a good or service and its price, holding all other factors constant. The…
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Economics
Branches of Economics
Branches of Economics Economics is the study of how societies, governments, businesses, households, and individuals allocate their scarce resources. Within economics, there are two main branches: microeconomics and macroeconomics. Microeconomics : Microeconomics is the study of individual economic decision-making, such as how households and firms make choices and h…
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Economics
Cobb-Douglas Production Function
Cobb-Douglas Production Function The Cobb-Douglas production function is a mathematical representation of the relationship between the inputs (such as labor and capital) and the output (the quantity of goods or services produced) of a firm or an economy. It is a widely used tool in economics to analyze production and growth. The general form of the Cobb-Douglas prod…
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Economics
Black Book Project
How to make Black Book Project A black book project is a type of research or analysis project that involves gathering and organizing information about a specific topic, often for the purpose of making strategic decisions or planning for the future. Here are some steps you can follow to create a black book project: Identify the purpose of the project: Clearly defin…
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Stock Market
Equity
What is Equity? Equity refers to the ownership interest in a company. It represents the residual value of a company's assets after all debts and liabilities have been paid. In other words, equity represents the value of a company that belongs to its shareholders. There are two main types of equity: common equity and preferred equity. Common equity represents the…
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Stock Market
Derivative
What is Derivative ? A derivative is a financial instrument whose value is derived from the value of an underlying asset. Derivatives are used as a way to hedge risk, speculate on price movements, and manage the financial exposures of businesses. There are various types of derivatives, including futures, options, swaps, and forwards. These instruments are typically …
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