In this article we will discuss about the role of modern economics in modern economics. Also learn about the merits and advantages of price systems. Economics is the study of how man can provide for his material well-being. Although man does not live by bread alone, it is equally true that he cannot live without it. An underlying problem in [...]
In this article we will discuss about the role of capital in economics. Capital, the produced means of production, is indispensable for the creation of wealth. Capital is essential if a country is to produce the huge quantity of various goods and services necessary for consumption today. If an economy is to produce more, it needs to add to that [...]
In this article we will discuss about the role of banks in the economic development of a country. The banking system plays an important role in the modern economic world. Banks collect the savings of the individuals and lend them out to business- people and manufacturers. Bank loans facilitate commerce. Manufacturers borrow from banks the money needed for the purchase [...]