Economics

Terminology Buffer stock : The food grains so procured are stored in warehouses of the FCI. This stock of food grains is called the buffer stock. The buffer stock is used to prevent a shortage of food in adverse conditions like crop failure and natural calamities. Chronic hunger : It is a consequence of diets persistently inadequate in terms of quantity and/or … [Read more...] about Economics Chapter 4 Food security in India – Notes & Study Material

Terminology Antyodaya Anna Yojana (AAY) for ‘the poorest of poors’ and elders. ​ Global poverty scenario : There has been a substantial decline in global poverty. However, it is marked with great  regional differences. Poverty has declined more in China and South-East Asian countries. Inter-state disparities : The proportion of poor people is not the same in every … [Read more...] about Economics Chapter 3 Poverty as a Challenge – Notes & Study Material

Human Capital is a collection of expertise, behaviors, social and personality characteristics, including imagination, reflected in the capacity to conduct work in order to produce economic benefit. Human Resource (i) People as resource is a way of referring to a country's working people, in terms of their existing productive skills and abilities. (ii) When the existing … [Read more...] about Economics Chapter 2 People as Resource – Notes & Study Material

 ➣ This is a story about a hypothetical village called Palampur.  ➣ To incorporate some fundamental principles relating to development.  ➣ Small scale processing, milking, transport, etc. are carried out on a micro level in the village.  ➣ Various resources are combined to produce the desired goods and services in the village. Palampur's Intoduction (i) … [Read more...] about Economics Chapter 1 The story of Village Palampur – Notes & Study Material