Unemployment in India

Unemployment in India is a complex problem with numerous overlapping and intertwined causes; however, it is possible to identify several key causes. This article will attempt to describe and outline these causes, which vary from macro-level factors (e.g. overall slow economic growth as well as population increases) to more micro-level factors (e.g.…
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Tariffs

A tariff is a type of trade barrier imposed by a government that acts as a tax on imports. The tariff may be in the form of a specific or ad valorem tax. Tariffs raise the price of the imported good to lowers its consumption. Tariffs encourage consumers to pick the local option. A specific tax is imposed on each unit, i.e., $0.50 on a pack of…
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Capitalism: Pros and Cons

Capitalism is an economic system where private companies own the four factors of production. The four factors are land, capital, land/natural resources, and entrepreneurship.Characteristics of Capitalism In a capitalist society, companies and individuals own the different factors of production. They receive rent, interest, profit, and wages…
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Price Elasticity of Demand

Price Elasticity of Demand (PED) is defined as the responsiveness of quantity demanded to a change in price. The demand for a product can be elastic or inelastic, depending on the rate of change in the demand with respect to the change in the price.What does Price Elasticity mean? Demand is said to be elastic demand has a greater…
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Commercial Banks

Commercial Banks are a type of financial institution that provides loans, accept deposits, and offer financial products and services like a savings accounts or a certificate of deposit to individuals and businesses.A commercial bank primarily earns money by charging interest to customers and by providing loans. Such a bank may also give…
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Supply and Demand

The result of the interaction between consumers and producers in a competitive market determines Supply and Demand equilibrium, price and quantity. Market forces tend to drop the price if the quantity supplied exceeds quantity demanded and prices rise if quantity demanded exceeds quantity supplied. This movement continues until there are no more…
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