IKHLAQ SIR.

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...

 IT  is no secret that gravity on Earth helps us and things stay on the ground.  The invisible magnetic force is spread across the planet, and from the looks of it, it isn’t going away anytime soon.  According to  NASA , gravity is determined by the mass and since Earth’s mass isn’t distributed equally across the planet, gravity also tends to change over time. NASA’s Gravity Recovery and Climate Experiment (GRACE) -- helps scientists look at levels of gravitational pull across the planet.          NASA. A few years ago, it shared a 3D visualization of a gravity model, on a geoid map of Earth -- a map showcasing Earth’s real shape and not the sphere ball we assume it to possess -- based on the data collected from using GRACE, that showed surprising variations in Earth’s gravity field.

My NAME Is KALAM.              Born on 15th October 1931 From an Indian aerospace scientist to the President of India, the 'Missile Man of India' has inspired millions of people with ambitions of science and propelled our nation towards technological advancements, here's a story of one such yearning and aspiration. As I entered the gates of Riverside Public School, my eyes caught sight of the banner, “Science Fair, 2021”. I fancy those schools, encouraging the innovative side of their pupils, and not just compelling them to bury their dainty heads deep into the theoretical monotony. I believe the more these children create and experiment, the more this world will progress, holding the hands of some brilliant brainiacs in the field of Science. Hello, Mr. Shrivastav! Welcome to our institution”, the Principal warmly greeted me as he handed me a beautiful bouquet of fresh roses, decorated with ribbons. It was quite exquisite. The validation seemed chummy,...

First let us develop the general concept of average productivity and marginal productivity. If one acre of land produces 2 Tonnes of food grains, then; Productivity of Land = Output = 2 Tonne = 2 Tonne/acre  Input (land) 1 acre Productivity of Labour = Output = 2 Tonne = 0.4 Tonne/labour  Input (labour) 5 labourer The above two are basically average productivity. If by adding one extra labour, production increases by 0.2 tonne, then Marginal productivity of labour = change in output = 0.2 tonne = 0.2 tonne/labour  Change in labour 1 labour Similarly, we can calculate productivity of capital = Output Capital Higher is the productivity of capital, it is good for the economy. The inverse of “productivity of capital” is Capital/Output ratio. Capital output ratio is the ratio of capital to output. It measures how much of capital is  required per unit of output. So, if more capital is required per unit of output, then the  capital is less efficient. Hence, it also mea...

  Since January 2015, National Statistical Office (NSO) under the Ministry of Statistics and  Programme Implementation (MoSPI) has changed the base year for calculation of GDP to  2011-12. So, if we want to calculate India's Real GDP for 2014-15, we will have to take the  quantities produced in 2014-15 and the prices of 2011-12 (base year). And if we want to  calculate the Nominal GDP of 2014-15 then we will have to take the quantities produced in  2014-15 and the market prices of the same year i.e. 2014-15.  Before 2015, NSO was not using market prices to calculate GDP, rather it was using Factor  Cost i.e. Market Price excluding indirect taxes and subsidies. Now, as per the global best practices and the IMF's World Economic Outlook projections based on GDP at market prices,  India has changed its methodology of GDP calculation at market prices. In India, economic growth is measured by real GDP i.e. GDP at constant Market Prices. economic gr...

NSO calculates GDP by Value Added Method and Expenditure Method both. Under Value Added Method, it calculates the value addition done by various economic activities viz:  Agriculture, Forestry and Fishing.  Mining and Quarrying.  Manufacturing.  Electricity, Gas, water supply and other utility services.  Construction.  Trade, Hotels and transport, and communication and services related to  broadcasting.  Financial, Insurance, real estate and professional services.  Public administration and defence and other services.      👉 Under Expenditure Method, it adds up the various components of expenditure viz:👇  Private Final Consumption Expenditure (it is basically household expenditure)  Government Final Consumption Expenditure  Gross Fixed Capital Formation (Investment expenditure of private and government)  Net of Exports and Imports (In certain cases where we are not able to measure estimates at constant prices, then the CPI  and WPI index is used as...

  GDP =The total final value of goods and services produced within the domestic territory of a country in a specified time period (generally a financial year) is called Gross Domestic Product.            CALCULATION OF GDP. GDP can be calculated by three methods: 1. The Product or Value Added Method In this method we calculate the aggregate annual value of goods and services produced  and to arrive at this we add up the value of all goods and services produced by all the  firms in an economy. Let us take an example: Suppose there are only two kinds of producers in the economy. One is the farmer who  produces wheat and the other is the baker who produces bread. Assume that the farmer  who produces wheat do not require any input other than the physical labour. Suppose  the farmer produces Rs. 100 worth of wheat, out of which he consumes Rs. 50 of wheat  and sells Rs. 50 of wheat to the baker. And suppose the baker do not req...