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Growth of Agricultural Production and Productivity:
Post-independence period was marked by severe and recurrent shortages of foodgrains. Dependence on imports of foodgrains was on the rise. This continued and persisted for a fairly long period until the mid-1960s when a war with Pakistan highlighted the fragility of the country's food security system. Even though, there was significant increase in agricultural production including the production of foodgrains, the gap between the domestic demand and supply was persistent.
During this phase increase in agricultural production was fairly high at 3.1 per cent per annum. This rate of increase appears to be phenomenal particularly in comparison to the dismal rate of growth of about 0.5 per cent per annum during the first half of the twentieth century. Even the rate of growth of production of foodgrains was pretty high touching almost 3 per cent per annum. However, but for some significant rise in the yield per hectare for rice crop, most of other increase in production was attributable to the increase in area under the crops. A growth rate of 4 per cent per annum in the production of wheat was largely contributed by growth in area under wheat. Similar was the case of non-foodgrain crops.
using necessary and sufficient conditions explain consumer equilibrium diagrammatically as well as mathematically
Axioms: It is possible to construct a utility index which can be used to predict choice in uncertain situations if the consumer conforms to the following five axioms: • A
THEORY OF PRODUCTION: Production activities related to goods and services require inputs. Typically, the set of inputs includes labour, capital equipments and raw materials. T
Direction of Trade: It is indicative of the structure and level of economic development. As a country develops and its trade gets diversified, it has to seek new outlets for i
Austrian economics is a brand of neo-classical economics that was established in Vienna during the late 19th century & first half of the 20th century. Austrian economics was strong
Explain the figure of say''s law of market
Effect of Gasoline Tax with Rebate Assume -Income = $9,000 - Price of gasoline = $1
Insurance - Risk averse are willing to pay to keep away from risk. - If cost of insurance equals expected loss, risk averse people will buy sufficient insurance to totally r
argument against in favour of traditonel theory profit maximisation
Production possibility frontier PPF is a combination of two or more goods a which a country can make in a given timeline or period with resource fully employed.
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