Economic Factors Nature Resource Capital Formation Size of the Market Structural Change Financial System Marketable surplus Foreign Trade Economic System Non-Economic Factors Human Resource Technical Know –how Political Freedom Social Organization Corruption Free administration Desire for Development Moral, Ethical and Social value Casino Capitalism Patrimonial Capitalism
High National Income High per Capita Income High Standard of Living Full Employment of Resources Dominance of Industrial Sector High Level of Technology High Industrialization High Consumption Level High Level of Urbanization Smooth Economic Growth Social Equity, Gender Equality and Low levels of Poverty Political Stability and Good Governance
The Indian economy is the Sixth largest economy of the world. Strength of Indian Economy India has a mixed economy: This means both private and public sectors coexist and function smoothly. Agriculture Plays the key role Around 60% of the people in India depend upon agriculture for their livelihood. In fact, about 17% of our
Indian’s sea route trade to Europe started only after the arrival of Vasco da Gama in Calicut, India on May 20, 1498. The Portuguese had traded in Goa as early as 1510 In 1858, the British Parliament passed a law through which the power for governance of India was transferred from the East India Company
Adam Smith (Father of Capitalism): He introduced the concept of Division of labour. His books The theory of moral sentiments – 1759 An Inquiry into Nature and causes of Wealth of Nations-1776 “Economics is the science of wealth” He is also known as Father of Political economy Ruskin & Carlyle: ‘A dismal science’ a dark
Capitalist Economy The capitalistic form of economy has its origin in the famous work of Adam Smith – Wealth of Nations (1776) An environment of ‘laissez faire’ (non – interference by the government) and Free market. Adam smith is known as Father of Capitalism & Father of Economics. A capitalist economy is an economic system
Primary sector – Agriculture & Production This sector produces raw material for food stuff and industrial use. This sector is also known as ‘Extractive Industries’ Agricultural sector is known as the primary sector, in which agricultural operations are undertaken. Eg: agriculture, cattle rearing, forestry, fishing, fuels, metals, mining, minerals, etc. This sector also called Red
Economics: Economics is the social science that studies the production, distribution and consumptions of goods and services. Economics studies the economic activities of mankind. Economics and Economy Economics will come out with theories of market, employment, etc., An economy is the real picture of the things which emerges after the application of those theories. Factors
முன்னேறிய நாடுகளின் இயல்புகள் உயர்ந்த நாட்டு வருமானம் வளர்ச்சி உயர்ந்த தனிநபர் வருமானம் உயர்ந்த வாழ்க்கைத்தரம் முழு வேலைவாய்ப்பு தொழில்துறையின் ஆதிக்கம் உயர் தொழில்நுட்பம் தொழிற்செறிவு அதிக நுகர்ச்சி நிலை அதிக நகர்மயமாதல் சீரிய பொருளாதார வளர்ச்சி சமுதாய, சமத்துவம், பாலின சமத்துவம் மற்றும் மிகக் குறைந்த வறுமை நிலை அரசியல் நிலைத்தன்மை மற்றும் நல்ல ஆட்சி
