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Net Economics #Classical Economists and their work# Economic theory

 Net Economics #Classical Economists and their work# Economic theory Pls follow , like and share Classical economics, also known as classical political economy, is a school of economic thought that emerged in the late 18th and early 19th centuries. It laid the foundation for modern economics and was dominant until the late 19th century. Classical economists focused on understanding the mechanisms of economic growth, production, and distribution of goods and services in market economies significant contributions and the years in which they were active: Adam Smith (1723-1790): Major Work: "The Wealth of Nations" (1776) Contributions: Smith is often referred to as the father of economics. In "The Wealth of Nations," he introduced the concept of the invisible hand, arguing that individuals pursuing their own self-interest in a free market economy unintentionally promote the general welfare. He also discussed the division of labor, productivity, and the role of markets i

CLASSICAL Economics

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 CLASSICAL Economics Classical Economics (Traditional financial aspects) is broadly viewed as the main current school of monetary idea. The expression "old style" alludes to work done by a gathering of market analysts in the eighteenth and nineteenth hundreds of years. Its significant engineers incorporate Adam Smith, David Ricardo, Thomas Malthus and John Stuart Plant. A lot of their work was creating hypotheses about the manner in which markets and market economies work. Coming when Mercantilism held influence, accentuating the boosting of products and limiting imports, old style financial experts advanced a profoundly unique methodology. They basically viewed the economy as ready to keep up with its own balance through market influences, and that administration mediation as fake duties or different obstructions that upset the free progression of labor and products were hurtful to the economy. Old style financial aspects ( Classical Economics) was a significant scholarly ac

Is it possible to crack IAS mains with Economics as an optional subject

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  Is it possible to crack IAS mains with Economics as an optional subject First of all, i will like to say that whether economics is a good optional or not or whether this one is a scoring or not is completely depending on your own approach to this master subject. If you want to have a good score in your optional subject, you should keep some things in your mind, Optional subject is completely of your own choice and in short to say we can say that it is your chosen field so your own chosen subject must be filled up with your deep interest and your deep love for that particular one you have selected. You should have a smart strategy for that optional subject and then you should work hard. There is no need to work hard blindly. Pay your own focus on your strategy always. If you strategy goes on the wrong track, no better things will happen with you. Keep yourself updated with the previous years’ question papers and try to know that for the last 5/10 years where the maximum questions had

SHARE YOUR KNOWLEDGE STUDENTS, UPSC Mains,UGC NET ECONOMICS ,MANAGEMENT,COMMECE,IES and Other Competitive Exams

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SHARE YOUR KNOWLEDGE  STUDENTS - UPSC Mains,UGC NET ECONOMICS ,MANAGEMENT,COMMER CE,IES and Other Competitive Exams SHARE YOUR KNOWLEDGE  As  You all aware that Our website www.iemsnet.com is for Students of Economics,Commerce and Management. Lot of students study online and look for different topics online in different website and You tube and still could not gather Knowledge as they dont cover all the topics so that it be useful for students. As per our Mission we want all the students get knowledge on single plateform on www.iemsnet.com in all the above mention subjects we invite all students to join our community and share their knowledge .  you can post your article on Economics, Management and Commerce subjects We will screen all the topics send by you and post on our website with your name  Which can be helpful to all the  students.  The concept is Sharing knowledge , helping each other on a single plateform.Please come forward share your knowl

UGC NET ,UPSC and other competitive exams CENTRAL BANK OF INDIA ( RBI a National BANK OF INDIA ) Cash Supply Concept.

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UGC NET ,UPSC and other competitive exams CENTRAL BANK OF INDIA ( RBI a National BANK OF INDIA ) Cash Supply Concept. Central Bank Central Bank a National bank of India, hold bank, or fiscal authority is an establishment that deals with the cash, cash supply, and financing costs of a state or formal money related association, and administers their business banking framework. Rather than a business bank, a national bank has a restraining infrastructure on expanding the money related base in the state, and furthermore by and large controls the printing of the national currency,which fills in as the state's legitimate tender.A national bank likewise goes about as a loan specialist after all other options have run out to the financial segment during times of budgetary emergency. Most national banks likewise have supervisory and administrative forces to guarantee the security of part establishments, to forestall bank runs, and to debilitate crazy or deceitful conduct by

UGC NET, UPSC and other competitive exam Financial approach or Monetary cash balance approach by Central Bank

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UGC NET, UPSC and other competitive exam Financial approach or Monetary cash balance approach by Central Bank Financial approach Financial approach is the arrangement embraced by the fiscal authority of a nation that controls either the loan cost payable on momentary obtaining or the cash supply, frequently focusing on expansion or the financing cost to guarantee value soundness and general trust in the money. Objective of Financial objective 1) Not at all like financial approach which depends on government to spend out of downturns, fiscal arrangement plans to control the cash supply, for example 'printing' more cash or diminishing the cash supply by changing loan costs or evacuating overabundance holds. 2) Further objectives of a money related approach are for the most part to add to the steadiness of GDP , to accomplish and keep up low joblessness, and to keep up unsurprising trade rates with different monetary forms. Fiscal financial aspects

UGC NET ,UPSC and other Competitive Exams US Central bank (U.S.A) Supply of Cash Money Concept

google.com, pub-3084614342339514, DIRECT, f08c47fec0942fa0 UGC NET ,UPSC and other UGC UGC NET,UPSC and other Competitive Exams US Central bank (U.S.A) Supply of Cash Money Concept The US Central bank distributed information on three financial totals until 2006, when it stopped production of M3 information ( On Walk 23, 2006, the Leading group of Governors of the Central bank Framework will stop production of the M3 money related total.) and just distributed information on M1 and M2. M1 comprises of cash ordinarily utilized for installment . Money available for use and financial records adjusts; and M2 incorporates M1 in addition to balances that by and large are like exchange accounts and that, generally, can be changed over reasonably promptly to M1 with almost no loss of head. The M2 measure is believed to be held essentially by family units. Preceding its stopping, M3 included M2 in addition to specific records that are held by elements other than people and are given by b

UGC NET ,UPSC and other Competitive exams FACTOR Value (MICROECONOMICS

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google.com, pub-3084614342339514, DIRECT, f08c47fec0942fa0 UGC NET ,UPSC and other Competitive exams FACTOR Value (MICROECONOMICS )  Factor Value Variables of creation can be characterized as sources of info utilized for delivering merchandise or administrations with the expect to make financial benefit.  In financial matters, there are four principle variables of creation, in particular land, work, capital, and endeavor. The value that a business visionary pays for profiting the administrations of these elements is called factor estimating. A business person pays lease, wages, intrigue, and benefit for profiting the administrations of land, work, capital, and undertaking individually. The hypothesis of factor estimating manages the value assurance of various components of creation. The assurance of factor costs is constantly thought to be like the assurance of item costs. This is on the grounds that in both the cases, the costs are resolved with the assistance of in

UGC NET,UPSC and other competitive Exams -Theory of unavoidable losses(Diminshing returns )

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UGC NET,UPSC and other competitive Exams -Theory of unavoidable losses(Diminshing returns ) Theory of Diminshing return In financial aspects, consistent losses is the decline in the negligible (gradual) yield of a creation procedure as the measure of a solitary factor of creation is steadily expanded, while the measures of every single other factor of creation remain steady. The theory of unavoidable losses expresses that in every single profitable procedure, including a greater amount of one factor of creation, while holding all others steady ("ceteris paribus"), will sooner or later yield lower gradual per-unit returns.The theory of consistent losses doesn't infer that including to a greater extent a factor will diminish the all out creation, a condition known as negative returns, however in reality this is normal. The hypothesis expresses that when the variable factor (work) is utilized increasingly more with the given fixed factor (capital), all out result

UGC NET,UPSC and other competitive Exams -Theory of unavoidable losses(Diminshing returns ) or law of Variable proportion (Microeconomics) and stages of creation(short run creation)

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UGC NET,UPSC and other competitive Exams -Theory of unavoidable losses(Diminshing returns ) or law of Variable proportion (Microeconomics) and stages of creation(short run creation) Law of Diminshing return In financial aspects, consistent losses is the decline in the negligible (gradual) yield of a creation procedure as the measure of a solitary factor of creation is steadily expanded, while the measures of every single other factor of creation remain steady. The theory of unavoidable losses expresses that in every single profitable procedure, including a greater amount of one factor of creation, while holding all others steady ("ceteris paribus"), will sooner or later yield lower gradual per-unit returns.The theory of consistent losses doesn't infer that including to a greater extent a factor will diminish the all out creation, a condition known as negative returns, however in reality this is normal. The hypothesis expresses that when the variable factor

UGC NET ,UPSC and other competitive Exams (Microeconomics) Comes back to scale(Return to a scale) creation work

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UGC NET ,UPSC and other competitive Exams (Microeconomics) Comes back to scale(Return to a scale)  creation work Return to a scale In financial aspects, comes back to scale and since a long time ago run normal all out expense are connected however various ideas that depict what occurs as the size of creation increments over the long haul, when all information levels including physical capital use are variable (picked by the firm). The idea of profits to scale emerges with regards to a company's creation work. It clarifies conduct of the pace of increment in yield (creation) comparative with the related increment in the sources of info (the variables of creation) over the long haul. Over the long haul all components of creation are variable and liable to change because of a given increment in size (scale). While economies of scale show the impact of an expanded yield level on unit costs, comes back to scale center just around the connection among information and yield am

UGC Net ,UPSC and other competitive exams since a quite long ago( Long Run) and Short Run Creation (Production) Microeconomics

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UGC Net ,UPSC and other competitive exams since a quite long ago( Long Run) and Short Run Creation (Production)Microeconomics Short Run and Long Run creation In financial aspects the long run is a hypothetical idea where all business sectors are in balance, and all costs and amounts have completely balanced and are in balance. The since quite a while ago run stands out from the short run, where there are a few limitations and markets are not completely in balance. All the more explicitly, in microeconomics there are no fixed elements of creation over the long haul, and there is sufficient time for modification so that there are no requirements forestalling changing the yield level by changing the capital stock or by entering or leaving an industry. This stands out from the short run, where a few components are variable (reliant on the amount delivered) and others are fixed (paid once), obliging passage or exit from an industry. In macroeconomics, the since quite a while

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