Skip to main content

Land utilisation

  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 physical and
Post a Comment

DEFINITION OF ECONOMICS BY ADAM SMITH

INTRODUCTION
The set of definitions given by various economists fall into 3 categories 
1) as a science of wealth by ADAM SMITH
2) as a science concerning material welfare of man by MARSHALL
3) as a science dealing with the problem of allocation of scarce resources among competing ends by ROBIN
ADAM SMITH'S Definition Of Economics as a SCIENCE OF WEALTH.
Introduction 
The first view is associated with the name of Adam Smith and his disciples . They regarded Economics as a science which studied the process of production and consumption of wealth. The emphasis on wealth is contained in Adam Smith's book "An enquiry into the nature and causes of the wealth of nations".
The main points of definition are:
a) Economics is the study of wealth only. It deals with the consumption , production , distribution and exchange .
b) Only materials that constitute wealth are scarce and useful.Non -material goods like services , air and water (free goods )are not wealth.
c) Economics studies the causes of wealth changes which means economic development.
Here, to increase wealth , production of goods needs to be stepped up which depends on increasing demand that furthers depend on extent of domestic and foreign markets. Increased production involves divission of labour that requires specialised machines which in turn needs more investment .  According to Adam Smith , investment will be increased when there is free economy.
Criticism of the definition
Adam Smith's definition is criticised by social reformers and writers like Carlyle, Ruskin and Maurice .
a) Importance to wealth : This definition gave more importance to wealth than man. Wealth has been given primary place and man only has secondary place. Wealth is only means of satisfying human needs. Economics must emphasize study of man much more than wealth.
b) Restricted meaning of wealth :In this "wealth" means material goods such as tea ,biscuits,butter . Non -material services of dancer , soldier, doctor are not taken as wealth.
c)Concept of economic man : This definition is based on the assumption that every man works to satisfy his self interest and there is not much difference between personal and social interests . But , both Marshall and Pigou defines  Economics as a study of common man not a selfish man  .
d) No importance of human welfare : This gives no importance to welfare of human .It pays no attention to equitable distribution of wealth and its use for the wealth of society.
e) No study of means : This definition makes earning of wealth an end in itself .It does not tell us the way of earning wealth .
f) Defective logic : The definition of wealth is illogical and non acceptable . The definition of economics as a science of wealth is narrow, controversial and unscientific . Economics does not only study the earning of material wealth but also about all the activities of man which are concerned with scarcity of means.

Comments

Post a Comment

Popular posts from this blog

Agricultural productivity

AGRICULTURAL PRODUCTIVITY   Agricultural Productivity of both land and labour is low in India. There are variations in productivity within the country and it is also low if compared to other countries of the world . It also provides that what measures should be adopted to improve the productivity of food and non-food crops and what measures are being adopted by the govt. to improve the productivity. CAUSES OF LOW PRODUCTIVITY IN AGRICULTURE   Millions of people still suffer from malnutrition and under nutrition which leads to starvation. There is no single reason for low productivity in agriculture in India. The causes of low productivity are as follows : (A) General Causes 1.Excessive Pressure of population on land . The heavy pressure of population on land is caused by the limited growth of employment opportunities in the non-agricultural sector for rural people and rapid growth of rural population. In 2011, about 52 percent of the population were employed in the agriculture-sector.
Post a Comment
Read more

MAJOR ISSUES IN INDIAN ECONOMY

Major issue facing Indian economy Introduction - After independence, India made progess in political, economic, social fields but many problems like poverty, unemployment and inflation are yet to be solved. Meaning - Economy means a money framework in which all economic activities of a country are explained. Indian economy is a mix economy whereby both private and public sector plays its role. The root cause of the 3 problems namely poverty , unemployment and inflation is population explosion that is increasing at very fast speed. These three problems are major challenges for Indian economy. Poverty Poverty has attracted attention of economists, sociologists and educationists . It exists when one is not able to get the basic necessities of life - food ,clothes and shelter. It is condition of lower standard of living, inability of an individual to get minimum requirement of food , education and health. It further indicates 3 direction  a) Economic inequality b) Economic dependence c) E
1 comment
Read more

Minimum support price scheme

MINIMUM SUPPORT PRICE SCHEME The best way to support agriculture is to invest in agri -R&D,agricultural-extension systems and connect farmers to lucrative markets,domestic and external, by building efficient value chains.  Giving farmers their right to choose technologies and best market is fundamental to the functioning of agri-system.  Minimum support prices (MSP) need to be made as legal instrument.  [It means that no one is allowed to buy crop below its MSP. But if it is accepted, it will turn out to be anti-farmer. ] Reasons  •It ignores that prices are decided by demand and supply.  •In case of surplus, which happens during harvest, prices fall to clear market.  •If MSP is above market clearing price, no one from private sector will buy.  •In this case, govt. Has to buy the farmers's produce otherwise farmers will turn to be worse off.  The govt. Declare MSP for 23 crops where the procurement happens largely to rice and wheat.  Why MSP crops and why not other agri prod
Post a Comment
Read more