Adulteration Adulteration is the process of mixing pure and impure products in order to attain profits. It causes financial and health loss to consumers. Conditions in which markets do not work in a fair manner : (i) When producers are few and powerful. (ii) When consumers purchase in small amounts. (iii) When consumers are scattered. (iv) When large … [Read more...] about Economics Chapter 5 Consumer Rights – Notes & Study Material
Economics
Economics Chapter 4 Globalisation and The Indian Economy – Notes & Study Material
New Terms Consumer: An individual who buys products or services for personal use and not for manufacture or resale. Export Quotas: It means the fixing of the maximum quantity of a commodity that can be exported during a year. Globalisation: It means integrating or interconnecting the economy of a country with the economies of other countries under conditions of free … [Read more...] about Economics Chapter 4 Globalisation and The Indian Economy – Notes & Study Material
Economics Chapter 3 Money and Credit – Notes & Study Material
Important Terms Actual Investment: The actual amount of investment is called an actual investment. Barter System: Barter refers to the direct exchange of goods and services. In this way, the barter system refers to the system by which one commodity is exchanged for another without the use of money. Credit: Credit means giving money on loan to needy persons. Cheque: A … [Read more...] about Economics Chapter 3 Money and Credit – Notes & Study Material
Economics Chapter 2 Sectors of the Indian Economy – Notes & Study Material
Important Terms Disguised Unemployment: When more people are working than its requirement then it is called disguised unemployment. So, even if we remove a few people from the job, the process of production will not be affected, it is also called underemployment. Final Product: The goods which are ready for consumption are called final product, for example, bread which is … [Read more...] about Economics Chapter 2 Sectors of the Indian Economy – Notes & Study Material
Economics Chapter 1 Development – Notes & Study Material
Important Terms Body Mass Index (BMI): It is a measure of body fat based on height and weight that applies to adult men and women. Development: It means more income and for the higher income, people need regular work, better wages and reasonable and fair prices for their products and services. Developing Countries: These are the countries in which income rises along … [Read more...] about Economics Chapter 1 Development – Notes & Study Material