Tag - prices

Rising Prices of Essential Commodities

Rising Prices of Essential Commodities   Increase in demand has been observed due to higher rural wages, rising agricultural cost of production, change in consumption pattern favouring imported items, increase in MSP and draught which has resulted inhigh food inflation. The cost of food increased to 7.55% [...]

Cropping seasons in India calendar

[Economic Survey] Ch8: Agriculture Minimum Support prices (MSP), Sugar pricing, FCI, Decentralized Procurement, OMSS

Prologue [Act 1] Minimum support prices (MSP) What is Open Ended Procurement? How is MSP determined? [Act 2] Sugar pricing problem SEFESU-2014 C.Rangarajan on Sugar pricing [Act 3] Food Corporation of India (FCI) FCI: procurement problems Open Market Sale Scheme (OMSS) Decentralized Procurement [...]

Discuss micro-economics. How is micro-economics useful in analysing market mechanism that establish relative prices and allocation of limited resources amongst many alternative uses?

Ans. Micro-economics - The term 'micro' means small. Therefore, micro-economics deals with the economic actions of individuals and groups of individuals and firms. This can be stated in another way that microeconomics presents the economic microscopic view of the company. In the words of K.E. [...]