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...
EVOLUTION OF MONEY
History of money
Increasing difficulties and inconvenience led to the invention of money.Money was first used as a unit of account or a numeraire in terms of which all other things were to be measured and compared. It allowed the process of goods to be expressed in terms of common unit of account,made non - comparable goods comparable but still ,trading was simple exchange of goods as process were priced in terms of one standard commodity . This difficulty was removed , When unit of account become medium of exchange also which saves time and lot of effort.
Development of money
There are different stages of development of money in accordance with the growth of human civilization.
a) Animal money - In primitive agricultural communities,domestic animals were used as money . Cattle were considered the common instrument of exchange.Cow and sheep were accepted as common wealth in ancient times.
b) Commodity Money -A number of commodities like bows,arrows,shells,rice etc were used as Money .The selection of commodity used as money depended upon the location, cultural ,economic development of society.For instance,people living in sea shore choose seashell as a money.
c)Metallic money -Metallic money refers to the metal i.e gold and silver. Gold and silver were regarded as natural money which also led to the coin system.
d) Paper money - Due to the safety problem of carrying costlier metals ,paper money came into existence due to the scarcity of metallic money. The state authorities introduce convertible paper money which can be converted into metals .Later ,it developed into flat money or inconvertible legal tender
e)Credit money -credit money emerged due to development of banking institutions and their credit creation activities.Credit money (cheques) is not actually a money ,it only performs functions of money . It is thus called as near money .
f) Electronic banking system - Many developed countries now have electronic banking system.Instead of using cash or cheque ,people make purchases by electronic signals. The method of transferring money thus changing .
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