Import Substitution vs Export Promotion 🌍 International Trade Strategies Understanding Import Substitution & Export Promotion 📚 Basics 💱 Foreign Exchange 🎯 Strategies ⚖️ Comparison 🌟 Examples 📤 What is Export? Export means selling goods and services produced in our country to other countries. Key Point: When we export, we earn foreign currency (like US Dollars, […]
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Understanding Domestic Territory in Economics Today we will learn about an important concept in Economics called Domestic Territory. This concept is very important for calculating national income. What is Domestic Territory? Domestic Territory is the geographical area that a country’s government controls or manages. It’s the place where people, goods, and money can move around
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What are intermediate goods? What are the examples of intermediate goods and whether these are included or excluded from national income. Lets understand all these points
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CBSE economics board paper 2024 has concluded. Here is the answer key for macro economics part for CBSE economics question paper 2024. Question paper Series No 11-58/1/1 Q No Solution 1 Answer (a). 2 Answer (c) 3 Answer (a) 4 Answer (d) 5 Answer (d) 6 Answer (d) 7 Answer (c) 8 Answer (d) 9
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The measurements of money supply can be classified into Broad money supply and Narrow money supply. But to understand this first we have to understand the meaning of liquidity of money Liquidity of Money Liquidity refers to the efficiency or ease with which an asset or security can be converted into ready cash without affecting its market price. The most
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There are two different concepts. First is stock of money and second is supply of money. And both are very much different. Lets first understand the stock of money. Stock of money includes the amount of money held by a) consumers of money i.e. people of the country and b) Suppliers/Producers of money i.e. Government
Money was not always the same as we see it today. It has taken many years of innovations to reach the present form of money. Here is a brief overview of the main stages of money development:
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The barter system is a system of exchange where goods and services are traded directly without the use of money. It is an ancient form of trade that was used before money was invented. Limitations of Barter System However, the barter system has several limitations that make it inefficient and impractical in the modern economy.
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