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Showing posts from August, 2023

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 phys...
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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 agricu...
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Agriculture and economic development

  Meaning of agricultural economics: Agricultural economics is that branch of knowledge which ties agriculture and economics together. It is an applied phase of the social science of economics in which attention is given to all aspects of problems related to agriculture. It is a social science concerned with the allocation of scarce resources among the users associated with producing , processing and consuming the farm products. According to Prof. Gray," Agriculture economics may be defined as the science in which the principles and methods of economics are applied to the special conditions of agriculture industry." Agriculture economics as a science Agricultural economics as an applied science which is mainly concerned with economic problems that are associated with farmers effort to make a living. Their problems  are numerous and varied in character but can be grouped under three main heads; (i) Production (ii) Marketing and (ii) Financing. It helps the farmer in deciding a...
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Role of capitalism

ROLE OF CAPITALISM IN DEVELOPING ECONOMY Capitalism is that part of the economics where there is no role of government agencies. The sole supe power of capitalism is in the hands of private owners. This means that if private is working on the behalf of government, instead of social welfare, their main objective is to have profits. Features Lack of intervention of government. Role of private firms. Role of price mechanisms. Advantages Encourages innovation Efficient firm incentives Consumers can choose services of their choice. Prevents government from interrupting. Creates climate of innovation and economic expansion. Helps in increasing GDP. Disadvantages Firms can gain monopoly power. Externalities damages the environment. Prone to boom and bust in the economic cycles. Inequality creates social division. Capitalist market crashes causes economic downturn , uneven business cycles. There is difficulty in mobilising unprofitable sector into profitable sectors. By taking advantage of poo...
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Investment Multiplier

INVESTMENT MULTIPLIER The number of times by which the increase in ∆Y exceeds the increase in investment is called as Investment Multiplier.  Investment Multiplier or output multiplier refers to the number of times by which the increase in output/income ∆Y exceeds the increase in investment ∆I. It is measures as the ratio between change in output /income and change in investment.                                      k = ∆Y / ∆I Where k is the multiplier. Relationship between Multiplier and Marginal propensity to consume (MPC) There is direct relationship between Multiplier and MPC . Higher the value of MPC ,higher the multiplier .                   K =1 / 1- MpC This is because of the given reasons : a)Additional investment means additional expenditure in the economy, additional expenditure means additional income . b) Higher the value of MPC ,...
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Wheat crisis

WHEAT CRISES  Introduction : •On may 4,the government lowered its wheat production for the crop year ending june.  •The production is expected to fall during warm weather condition on most part of wheat producing states of Punjab, Haryana, Madhya Pradesh,  Uttar Pradesh.  Decline in wheat production •Wheat production has seen a drop during winter. In last marketing year, the government had purchased from farmers.  •During the same time,  announcement came declaring 'unfolding war in Ukraine' which give rise ti acute food insecurity in countries . •After 5 straight years of bumper output of wheat,  unprecedented heat waves  causes substantial loss to the crop . Early summer affects the crop yields in the wheat producing states . Government procurement •A larger quantity of wheat was being bought by the traders at higher rate than the minimum support price.  •Private traders have been prompted to buy more wheat from farmers as the price of whe...
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