Month: March 2021

Characteristics of Developing Countries

The countries in which the process of development has started but not completed and having a developing phase of different economic aspects or dimensions like per capita income or GDP per capita, human development index (HDI), living standards or fulfillment of basic needs, and so on. The UN identifies developing countries as a country with …

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Use or Importance of Macroeconomics

Macroeconomics is the study of aggregates like national income, national product, total consumption, total saving, total investment, etc. Study of macroeconomics assists to realize the operation of a complicated modern economic system. It defines and describes how the economy functions and how the level of national income and employment is determined based on aggregate demand …

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Meaning and Features of Macroeconomics

Macroeconomics is the part of economics that studies about the economy. The unit to deal in macroeconomics is the entire economy rather than a part of the economy. Thus, macroeconomics deals with the economic problems faced by an economy. Here we will briefly discuss the meaning and features of macroeconomics. Ahuja (2016) states that macroeconomics …

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Cost of Economic Growth

Every economy needs to invest its scarce resources in the production of capital goods and consumer goods. Both sorts of goods have their relevance. Capital goods add the capital stock and raise the economy’s productive capacity. Investing in capital goods is essential to raise the long-term production potential. Only sufficient investment in capital goods can …

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