Notes

Definition and Modern Forms of Money * In early times, people simply exchanged one commodity for another depending on their requirement under the barter system. * The exchange of things in the barter system required double coincidence of wants. * Money eliminates the need for double coincidence of wants. * Since money enables the exchange ... Read more

Introduction – Sectors of the Indian Economy * All the activities that involve the production and distribution of products and services are called economic activities. Economic activities in India are classified into three different sectors:    *  Primary sector    *  Secondary sector and    *  Tertiary sector * The primary sector includes activities that ... Read more

Income and Other Goals * Most people have higher income as a developmental goal. * Non-measurable developmental goals like respect, security and equality are more important than income when it comes to working women and encouraging more women to work. * People always want development. Development is about:    *  Setting a goal for development ... Read more