July 8, 2020

Quality of Life: New Paradigm of Development

In recent years, development economists have stopped concentrating on national income only. They have started emphasizing the quality and strategy of development. As a part of the quality of development, they have advocated that direct attention should be given to the quality of life. Quality of life refers to the degree of the economic well-being […]

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The Deductive Method

Methods of Analysis Economic laws or generalization states the relationship between economic variables. Economic theory provides an explanation of the stated relation between the variables. It means economic theory brings out the logical reasoning and logical basis of generalization. An economic theory deduces generalization through the procedure of logical reasoning and explains the condition under

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