What is Balance of Payments?

Balance of Payments (BOP) is a systematic and summary record of a country’s economic and financial transactions with the rest of the world, over a period of time, say one year. Structure of Balance of Payments The format of the balance ..

Background of India’s Foreign Trade

1. India entered into planned development era in 1950’s and at that time Import Substitution was a major element of India’s trade and industrial policy.2. In 1950 India’s share in the total world trade was 1.78% which reduced to 0.6% ..

Most basic Concepts of Economy

Understanding the basic concepts of economics is crucial for grasping how economies operate. This is the list of 50 most basic concepts in Economy. Supply and Demand: The basic model of how buyers and sellers interact in a market. Opportunity ..