Skip to main content

ECONOMY


'ECONOMY  '    denotes   everything   related  to   the  manufacture and   distribution  of  goods.Now   what  are  goods?Goods  are  items  and  services  that  we  need   for   a  living,such  as  food,clothes,
houses,cars,television sets,mobile phone,the  list  is  end less.so   are  services like  ,schools, hospitals,hotels, colleges  ,cinema,haircut,bar,
taxi services  etc.
In  this  type  of   economy  ,only  goods  that  are  needed  by  buyers are  supplied  by  the  manufactures .If   the  supply  is  less  than  the demand ,it  leads  to   price   rise.Buyers   can  not  afford  to  purchase  goods ,as  a result   demand   reduces  and  the  prices  come  down..So  ,the  market  regulates  itself .This  is  the   plus  point  of  this  economy.Most   of  the  European  countries  and  the  USA  has   free  market   economy.
In  a  ' managed  economy ' ,the   state   decides  ,the  type   and  the  amount  of   goods  that   will  be   produced .It  also  determines  the price of  goods  and  the  wages  of  workers.The   Soviet  Union  and  the  GD R   had    the   managed   economies   earlier.The  draw back  of   such  a  economy  is  that  it  slows  down  the  economic  development.o
SHARE-  The  total  amount  of  investment   in  a  company  is    a  stock.This   is   divided   into   shares  of  specific   values.
Companies    sell   these  shares to  the  public  to  raise  money.By  selling  shares ,the   Company  ,  gets  money  and  the  buyer  gets  a  share  of  the  assets   of  the  company  and  can  claim  a  corresponding  part   of  its  annual   profit..Shares  are  traded - brought   and  sold -  at a  stock   exchange .The  major  stock exchange   are  Tokyo   stock  exchange,  The  London  stock  exchange,Shanghai  stock  exchange.etc.The   value  of  a   particular  share   rises  if  many  people   buys  it in  the  share  market.The value  of  a   share goes  down  ,if many  people  sell  it  ,in  the  share  market.The  value  of  shares  goes  up  and  down  by   the  market  forces.
SERVICES   IN  THE  ECONOMY  -Services     are  non  -material  goods.That  is  those  things  ,for  which  we  pay ,but  cannot ' 'touch'. These   includes  ,consultation   services,a  perm  in  a  saloon
repair   of  television,servicing  of   cars,dry cleaning  services,and  the   service in  a   restaurant  .Now  a  days  people  prefer  to  work  in  the  service  industries   as    they  are  more  secure.They  cannot   be   replaced  by   machines.Now  a  days  many  new  service  industries  are  launching and  running  successfully. 
ECONOMY 
 
  
  


  


  


  


  


  


  


  


  


  


  



Comments

Popular posts from this blog

KEY BOARD SHORT CUTS

While   surfing  the Web,  these commands  could  help  you  and  are absolutely worth learning. By making repetitive motions faster, web surfing becomes so easy  and    pleasant! The following shortcuts can  be   work with desktop versions of Chrome, Firefox, and IE. CTRL-T to launch a new browser tab page. Tabbed pages are very useful: they let you open multiple web pages simultaneously without the same memory load as a full browser window.  Simply press CTRL-T to launch a new tab. Related: use CTRL-Page Up and CTRL-Page Down to navigate between the tabs.  CTRL-Enter to type 'www.' and '.com' Once you ...

THE KING OF POP- MICHAEL JACKSON

Michael Joseph Jackson (August 29, 1958 – June 25, 2009) was an American singer, songwriter, and dancer. Dubbed the "King of Pop", he is regarded as one of the most significant cultural figures of the 20th century and one of the greatest entertainers in the history of music.   Michael Jackson is born. Pop sensation Michael Jackson is born on August 29, 1958, in Gary, Indiana. Jackson began performing with his four brothers in the pop group the Jackson 5 when he was a child. ... Jackson released several solo albums in the '70s, but his great breakthrough came in 1979 with Off the Wall.   Known as the "King of Pop," Michael Joseph Jackson was a best-selling American singer, songwriter and dancer. As a child, Jackson became the lead singer of his family's popular Motown group, the Jackson 5.   As a child, Jackson became the lead singer of his family's popular Motown group, the Jackson 5. He went on to a solo career of astonishing w...

REVOLUTIONS-INDUSTRIAL AND INFORMATION

INDUSTRIAL   REVOLUTION  Starts   in   Europe  particularly  in  England  in  eighteen  century.It   changed  the  whole   of Europe   and   England 's  economy.During  this  period    New    machines  are  invented  in   England   to  speed  up  the    spinning  of  wool  and  cotton .At  first  they  were  powered  by  water  wheels  but  later steam  engines   are  developed.Iron   become  cheaper  and  stronger  as  Iron  making  techniques   improved.Canals  are  dug  to  carry   coal   from  the  mines and  to  transport  finished  goods.After ...