Basic Terms: 1.Utility:It refers to want satisfying power of the commodity.It is measured in utiles. 2.Types of Utilities: Tototal Utility: It refers to sum total of utility that is received from...
Methods of Calculating National Income Value Added Method:- According to this method, National Income is calculated by adding net value by all producing unit...
Functions of RBI: 1. Authority to issue currency: It has the sole authority to issue notes and coins in India except for one rupee note, and coins are issued by the ministry of finance. 2. Banker's...
GDP is Gross Domestic Product. It is the total value of goods and services produced within the boundaries of a nation in a given time period. E.g. 1 year The value of goods and services produced by both...