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Category: Economics

  • What is Public Policy? Policy Making, Approaches, Characteristics, Types

    Thomas Dye defined Public Policy as “Whatever the government chooses to do or not to do”. Public policy can be generally defined as a system of laws, regulatory measures, courses of action, and funding priorities concerning a given topic promulgated by a governmental entity or its representatives. The topic of public policy, which consists of…

  • Essay on How Labor Market Suffered Due to Coronavirus

    This essay discusses the various ways through which the pandemic has affected the lockdown, the crisis that the labour market faces, and suggestions laid by various people on how to combat the serious effects of the same. The Coronavirus pandemic and the pandemic induced lockdown have brought the world into a standstill, affecting different sectors…

  • Economics for Beginners: An Introduction to Concepts and Applications

    What is Economics? Economics is a social science that studies how the society employs its scarce (limited) resources for alternative uses. It also looks into how people make decisions, use wealth and respond to incentives. There are different definitions for economics, given by Adam Smith, Alfred Marshall and Lord Robbins, but fundamentally, they have many…

  • What are the impacts of globalization in India? Explained

    Globalization incorporates a huge impact on various aspects of people’s lives such as culture, social-economic, political, and community life. Ample theoretical studies proved that globalization intervenes in a cultural life of public that raises numerous critical issues (Robertson, 1992). In a broad sense, the term ‘globalization’ means a blend of economies and societies through cross…

  • UPSC Mains Economics Optional: All you need to know

    Economics Optional Overview: Adam Smith, the Father of Modern Economics defined Economics as, “an inquiry into the nature and causes of the wealth of nations.” Economics, one of the most popular social science subjects is one of the most important aspects of a country. Any civil servant should be aware of the Indian Economy and…

  • what is startup company and what makes a startup successful

    There is a term known entrepreneurship that is slipping into everybody’s dictionary. It is the basis of starting a new venture, i.e. Startup Company. In layman language it can be defined as a business setup which will demand maximum hours for various functions like reaching maximum people, raising its market value but in the end,…

  • Agrarian class in India: All you need to know

    India is renowned for the agricultural economy as it has been for centuries. It is the largest source of bread and butter in India. According to the Food and Agriculture Organization, 70% of the rural households are still dependent on agriculture and its allied activities. Given its varying geographic dividend, a huge variety of agricultural…