Comments

Post a Comment

Popular posts from this blog

POOR CLASS IN UNDERDEVELOPED COUNTRIES

Image
Hi there Today’s Topic is the behavioural approach of Poor class and how they impact via lack of financial resources , the scarcity of food articles , good accommodation and lack of financial notches to fulfil their desires . The economic behaviour of the poor in underdeveloped countries is a nuanced topic shaped by various constraints and opportunities and involves how low-income households make decisions about spending, saving, working, and investing, as well as how they manage risks and access markets. Here are key aspects: 1. Income Sources and Employment • Agriculture-Based Livelihoods : A significant portion of the poor in underdeveloped countries rely on agriculture as majority of the underdeveloped countries are having poor landless farmers , artisans with small amount of funds to cultivate the fields , often trench with petty loans with excessive interests and working as smallholder farmers, sharecroppers, or seasonal laborers. Their income is highly variable, su...
www.statisticalmasters.blogspot.com

WHY DO ECONOMIC AFFAIRS EFFECT HUMAN LIFE

Image
https://onlineeducoach.com/economics-statistics-micro-development-marketing/why-economic-welfare/   Economic affairs profoundly affect human life because they influence the resources, opportunities, and conditions under which people live. Here's how: 1. Income and Living Standards Economic policies and conditions, such as inflation, employment rates, and wages, directly affect household income. A healthy economy provides jobs, stable prices, and growth opportunities, enabling people to afford essentials like food, housing, healthcare, and education . 2. Access to Goods and Services Economies determine the production and distribution of goods and services. Trade policies, supply chains, and market stability ensure access to necessities and luxuries. Economic disruptions (e.g., recessions) often lead to shortages or increased prices, affecting people's quality of life. 3. Employment and Career Opportunities Economic growth fosters job creation and career advancement, ...
www.statisticalmasters.blogspot.com

Origin of Money

  Origin of Money from an Economic Perspective 1. Introduction Definition of Money: A medium of exchange, a store of value, a unit of account, and a standard of deferred payment. Importance of understanding the origin of money in economic theory and practice. 2. Barter System: The Precursor to Money Explanation of the barter system. Double Coincidence of Wants: The fundamental limitation. Problems with Barter: Lack of standardization, divisibility, and value storage. 3. Emergence of Commodity Money Definition and examples: Precious metals, grains, cattle, shells, etc. Characteristics of effective commodity money: Durability, portability, divisibility, uniformity, acceptability, and limited supply. Historical Examples: Cowrie shells in Africa, gold and silver in Europe. 4. Evolution to Metallic Money Standardization of precious metals as money. Introduction of coinage: Authenticity, uniformity, and convenience. Role of governments and ruler...
www.statisticalmasters.blogspot.com