ECONOMICS

The private sector refers to the part of the economy that is privately owned and controlled by individuals or businesses, rather than by the government. It includes a wide range of industries, such as manufacturing, retail, technology, and finance. Here are some key characteristics of the private sector: Privately owned: The businesses in the private […]

Non-Performing Assets (NPAs) Non-performing assets (NPAs) are loans or other debt securities that have stopped generating interest or payments due to a borrower’s default. They are often classified into categories based on the severity of the delinquency, such as subprime, delinquent, and bad debt. Types of NPAs: Subprime: Loans to borrowers with poor credit histories, […]

Definition: Economic forecasting is the process of using economic models and other techniques to predict future economic growth, inflation, unemployment, and other economic indicators. It is a crucial tool for policymakers, businesses, and investors to make informed decisions about economic performance. Key Techniques: Statistical models: Regressions, time series analysis, and other statistical techniques are used […]

The cross elasticity of demand measures the change in the quantity demanded for one good in response to a change in the price of another good. In other words, it tells you how much the quantity demanded for one good changes when the price of another good changes. Formula: Cross elasticity of demand = change […]

Monte Carlo Simulation Monte Carlo simulation is a type of computer simulation that uses random sampling techniques to estimate the value of a quantity or perform other computations. It is a powerful technique for solving a wide variety of problems, including: Applications: Monte Carlo integration: Estimating the area under a curve. Random walks: Calculating the […]

Spillover effect The spillover effect is a phenomenon that occurs when interventions or policies implemented in one domain have unintended consequences in another domain. These consequences can be positive or negative, depending on the specific interventions and the interconnectedness of the two domains. Mechanism: Interdependence: The two domains are closely related and interact with each […]

Labour Market The labour market is a complex and dynamic ecosystem that connects job seekers with employers. It encompasses all activities related to the employment relationship, including: Key Participants: Job Seekers: Individuals actively looking for work, including job seekers, students, and the unemployed. Employers: Organizations that need to fill job vacancies. Government: Agencies that provide […]

A trade surplus occurs when a country’s exports exceed its imports. In other words, the country is exporting more goods and services than it is importing. Formula for trade surplus:Trade surplus = Exports – Imports Excess exports: When exports are greater than imports, the country has a trade surplus.Excess imports: When imports are greater than […]

Environmental Economics Environmental economics is a field of study that explores the links between economic activity and environmental regulation. It seeks to understand how environmental factors influence economic outcomes and how economic activities impact the environment. Key Concepts: Environmental Valuation: Assigning monetary values to environmental goods and services, such as clean air, water, and biodiversity. […]

The Competition Commission of India (CCI) is a statutory body established in 2002 under the Competition Act, 2002. It is the primary regulator of competition in India, responsible for preventing anti-competitive practices and regulating monopolies. Key Functions: Anti-Competitive Agreements: Prohibits agreements that restrict or control competition, such as price fixing and market sharing agreements. Abuse […]