IKHLAQ SIR.

 🌿Liberal and Neo-liberal Economics:📚 Liberalism as an economic philosophy is founded on the belief that individuals are rational in the decisions they take in the economic system. Producers make goods and services that are in demand. Consumers spend their money to realize maximum value for it. The rationalities of all the economic actors-producers, traders, consumers and others, add-up to collective and systemic rationality that guides the economy well. Adam Smith, the 18th century Scottish economist and philosopher and a formidable proponent of laissez-faire economic policies, in his first book, The Theory of Moral Sentiments, proposed the idea of an invisible hand. Invisible hand means the unintended social benefits and public good produced by individuals acting in their own self interests.📚📚📚 Achievement of the most efficient level of production, consumption and distribution of goods in the society takes place without any wishing it. It secures the welfare of the society. ...

  Social Media plays a very important role in today's life, social Media are web-based online tools that enable people discover and learn new information, share ideas, interact with new people and organizations.  It has changed the way people live their life today, it has made communication much easier. It allows the exchange of user-generated content like data, pictures, and videos.  Social media platforms may come in different forms such as blogs, business forums, podca sts, microblogs, photo sharing, product/service review, weblogs etc. Importance of social Media: Nowadays above 85% of all businesses have a dedicated social media platform as part of their marketing strategy. Nearly 58% of businesses that have used social media marketing for over 3 years and have reported an increase in sales during this period. Almost 60% of marketers are devoting the equivalent of a full work day to social media marketing for development and maintenance. To conclude, I would say socia...

Indian Economy.               MONEY AND ITS FUNCTIONS:  In earlier times, economic transactions used to happen as barter exchanges i.e. one commodity is exchanged for the other commodity. But for barter exchanges to happen there must be double coincidence of wants i.e. there should be diametrically opposite demand of the two parties doing the exchange. Consider, for example, an individual has a surplus of rice which he wishes to exchange for wheat. If he is not lucky enough, he may not be able to find another person who has the diametrically opposite demand for rice with a surplus of wheat to offer in exchange. The process can become very cumbersome in case of a large economy. To smoothen the transaction, an intermediate "commodity" is necessary which is acceptable to both the parties. The individuals can then sell their produce for this commodity and use this commodity to purchase the other goods that they need. Now what should be the characteris...