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q definition of labour forcelabour forcetotal population of working-age people who are willing and able to work and who thus have lsquoentered labour
labour extraction most employees under capitalism are paid according to time they spend at work though employers then face a challenge to extract
q what is joint stockjoint stock a form of business in which companys assets are jointly divided among a large number of different individual owners
q what do you meant by investmentinvestment investment represents production which isnt consumed though rather is utilized in the production of other
q what is international monetary fundinternational monetary fund an international financial institution established after world war ii with the goal
intermediate products products which includes both services and goods that arent produced in order to be consumed but somewhat are produced in order
interest a lender charges interest as the price of lending money or some other asset to a borrower interest is mainly charged as a specified
institutionalist economics a school of heterodox economicsthat emphasizes importance of institutional development and evolution as opposed to
q what do you meant by informal economyinformal economyinformal sector of the economy represents the production of services and goods for the own-use
industrial policy government policies which are aimed at fostering the domestic development of particular desirable or productive industries in order
q defien hyper - inflationhyper-inflationits a situation of extremely rapid inflation reaching 100 per year or more frequently resulting from a
households the fundamental unit of individual economic behaviour households offer labour supply to labour market make consumer purchasesearn income
q what do you meant by hoardinga situation in that companies financial investorsor individual consumers choose to hold hoards of cash or other liquid
q what is heterodox economicsheterodox economicsdifferent schools of thought including post-keynesian marxian structuralist and institutionalist
q what is gross domestic product per capitagross domestic product per capita level of gdp divided by the population of a region or country changes in
gross domestic product deflator a price index that adjusts the overall value of gdp according to average increase in the prices of all output gdp
q explain about gross domestic productgross domestic productvalue of all the services and goods produced for money in an economy evaluated at their
government production some production in the economy is undertaken directly by governments or several kinds of government agencies in order to meet
globalization a generalized historical process by which more economic activity occurs across national borders forms of globalization include
q what is gini coefficientgini coefficient a statistical measure of inequality a gini score of 0 signifies perfect equality in which each individual
q explain general equilibriumgeneral equilibrium neoclassical economics presumes that production employment investment and income distribution are
q what is free trade agreementsfree trade agreementsit is an agreement between two or more countriesthat eliminates tariffs on trade between the
q what is formal economyformal economysector of the economy that produces services and goods in return for monetary payment and is fully integrated
foreign direct investment it is an investment by a company based in one country in an actual operating business including real physical capital
q explain fixed capital and flat-rate taxfixed capital realcapital which is installed permanently in a specific location including infrastructure