Introduction: Monetary Economics is a branch of economics that provides a framework for analyzing money and its functions as a medium of exchange, store of value and unit of account. It examines the effects of monetary systems including regulation of money and associated financial institutions. Money 1 Meaning: Money is anything that is generally accepted […]
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Income, Savings And Consumption – Economic Study Material
The consumption function or propensity to consume refers to income consumption relationship. It is a “functional relationship between two aggregates viz., total consumption and gross national income.” Symbolically, the relationship is represented as C= f (Y) Where, C = Consumption Y = Income f = Function Thus the consumption function indicates a functional relationship between […]
Employment related Glossary – Vocabularies and its meanings
Glossary * Full employment : Persons who are willing to work and able to work must have employment or a job *Unemployment : when there are people, who are willing to work and able to work but cannot find suitable jobs. *Disguised unemployment : It is found in which when more people are doing work […]