The most often used index of economic development is a substantial increase in real national income. However, in recent years some of the indicators of economic development have been added. Indicators of Economic Development The following are the main indicators of economic development: 1. National Income Index Economic development takes place if real national income … [Read more...] about 5 Main Indicators of Economic Development (Explained)
Managerial Economics
8 Major Causes of Wage Differentials (With Examples)
Labour is a human factor of production and its all units are not identical because of differences in efficiency and productivity of labour. There is a wide difference in the wages of workers and this variation differs from one occupation to another, one industry to another, one region to another and even from one country to another. Causes of Wage Differentials The … [Read more...] about 8 Major Causes of Wage Differentials (With Examples)
17 Role and Importance of Small Scale Industries (Economy)
Small scale industries occupy an important place in the country's economy. This faces many serious problems, most of which are associated with the smallness of their operations. Role and Importance of Small Scale Industries The Small-scale sector plays a vital role in the growth of the countries. Following is the role and importance of small scale industries: 1. … [Read more...] about 17 Role and Importance of Small Scale Industries (Economy)
25 Negative Effects of Globalization (With Examples)
Globalization, often hailed as a transformative force driving economic growth and cultural exchange, has undeniably reshaped our world in countless ways. From interconnected economies to instant communication, its benefits are evident. However, beneath the surface lies a complex web of negative consequences that can no longer be ignored. With respect to developing … [Read more...] about 25 Negative Effects of Globalization (With Examples)
35 Positive Effects of Globalization on Various Sectors (With Examples)
Globalization, the interconnectedness of economies, cultures, and societies, has been a transformative force in the modern world. While debates persist about its impacts, it's crucial to recognize the numerous positive effects it has brought about. From economic growth to cultural exchange, globalization has shaped our world in ways that foster progress and … [Read more...] about 35 Positive Effects of Globalization on Various Sectors (With Examples)