LAND UTILIZATION Land is a scarce resource, whose supply is fixed for all practical purposes. At the same time, the demand for land for various competing purposes is continuously increasing with the increase in human population and economic growth.Land use pattern at any given time is determined by several factors including size of human and livestock population, the demand pattern, the technology in use, the cultural traditions, the location and capability of land, institutional factors like ownership pattern and rights scale regulation. Major Types of Land Utilization in India : As in all other countries, land in India is put to various uses. The utilization of land depends upon physical factors like topography, soil and climate as well as upon human factors such as the density of population, duration of occupation of the area,land tenure and technical levels of the people.There are spatial and temporal difference in land utilization due to the continued interplay of phys...
ECONOMY
Economy refers to a system of a particular area that shows how people of the concerned area earn money. It shows the nature of all the economic activities in that area.
ECONOMICS
Economics has been derived from Greek words i.e "Oekos" and "nomos" .The former means a house and the latter means to manage . By combining the both it means managing a houshold. It refers to the study of how society choose to enjoy scarce resources that have alternatives uses.
In other words, it is a social science that focuses on management of scarce resources in such a manner that both individual and society can attain maximum benefit.
ECONOMIC PROBLEM
It is the problem of choice or problem of allocation of scarce resources to their best alternative uses.
It mainly arises out of the given two facts:
a) Resources are scarce .
b)Resources are unlimited and have alternative uses.
ECONOMIC ACTIVITIES
These are those activities which are related to how one can make use of scarce resources.
The following are some of economic activities:
a) Production:It is the process of converting raw materials into finished goods.
b) Consumption: It is the process of using up goods and services for the satisfaction of human wants.
c)Investment: It is the expenditure that incurs on the purchase of such assets that helps in futher production and generation of income.
d)Saving: It is the part of the income which is not consumed and saved for the future .
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