INTRODUCTION TO THE INDIAN ECONOMY | UPSC, SSC, IBPS, RRB, TNPSC And other states exams

AN INTRODUCTION TO THE INDIAN ECONOMY

• All you need to eat, wear, and stay. The farmers are producing grains like rice and wheat. This is called agriculture. Agriculture the first  industry to be seen in man.

• Man lived in the cave to save himself from rain, cold, sunshine, and began to live in time; Cities also formed. Human's needs also increased.

• We produce many things in factories such as clothes, shoes, bicycles, delights, radio, television sets etc. to meet its needs.

• In everyday life, we use many things. These stores are sold in stores. Selling Money is used for us to buy and store things. If we save money, it is good for home and country.

• Food is needed for physical growth. Education requires knowledge. Medicine is needed to protect us from diseases.

• Teachers teach to educate and doctors to treat patients. Government employees are serving various people's work.

• Farmers, Workers, Staff contributes to the growth of the country's income. That is why this is the country's revenue. We say that personal income is the only source of income per person alone.

• Some people are in a state of inadequacy and have to provide them with food, clothing and home. The government also provides them with the needs. Thus, everyone gets the basic facilities they need. We say this is partition.

1. Production 
2. Consumption 
3. Division of the economy are basics.

• Food is produced by the labor of farmers. Workers work in the factory and produce the necessary supplies for the country.

• The goods should be added to the shopping cart stores. Only then can we go to the store and buy what we need. Buying and selling is called a market.

• We note that consumption is the only thing that people need to buy and sell their products.

• The name of the business to buy and sell goods. In the industry Those who are involved are called traders.

• Merchants sell and sell products from places where goods are manufactured. The bulk of the goods and the seller is called big business. Smaller buyer is called a small businessman or businessman. When some goods are on the market, their price decreases. The price increases when there is a shortage of goods.

• Rice, chilli, oil, sugar etc.The government provides the goods through reasonable shops at low cost.

• The government has taken many steps to control prices. When the deficit occurs, the government imports goods from abroad and provides people with fair price.

• Requirements increase, productivity, consumption and sharing activity are growing. That is what we call economic growth.

• What should be produced? How to produce and the governments elected by the people to monitor and help the economy grow steadily.

• We can understand many more new ideas to study the economy. Many who have learned the lesson of the economic lesson are emerging as good scholars. Economic knowledge is very important to prepare the annual budget of the central state governments.

• Economic knowledge is the basis for all areas of development. Scholar Amartya Sen has earned Nobel Prize for economics in our country.