Gross National Product (GNP) is the total measure of the flow of goods and services at market value resulting from current production during a year in a country, including net income from abroad. GND includes four types of final goods…
The word Statistics is usually derived from the Latin word Status. The subject of statistics dates back to ancient times. In ancient times, political speech was considered mathematics or the science of kings. But in 1749, God Fried Achel first…
Is Economics A Science?: There is a difference of opinion among economists regarding the nature of economics. Many economists consider economics a science. On the other hand, many economists regarded it as an art. Is Economics A Science? To conclude…
Types Of Money: Money is anything that is widely accepted in exchange for goods and services. Money is a medium of exchange and a store of value. This may consist of physical objects, that as notes and coins; or of…
Sources of Public Revenue: A government needs funds or income to meet its various expenditures. The income of the government from different sources is called public income or public revenue. According to Dalton, however, the term public revenue has two…
Economics is a social science. The goal of social science is to study the multiplicity of human activities in society. The daily activities of human life are very wide and varied. It is not possible to study all activities within…
Importance of Environmental Studies: The environment is said to be the element that surrounds living beings during their lifetime. It is divided into two-part Biotic and Abiotic. The environment is made up of some inanimate elements. It is a natural…