Indian Economy Questions

Assessing opportunity cost involves making choices and dealing with consequences.

Production costs to an economist reflect opportunity costs.

Marginal propensity to consume (MPC) in economics is a metric that quantifies induced consumption, the concept that the increase in personal consumer spending (consumption) occurs with an increase in disposable income (income after taxes and transfers).

Airtel Payments Bank is the first payment bank in India. A payments bank is a new category of banks conceptualized by the Reserve Bank of India, which operates at a smaller scale than an actual bank and doesn't involve any credit risk. It can carry out most banking operations but can't advance loans or issue credit cards.

The RBI as of date has given licences to 11 payments bank of which six are currently operational. These include

1. Aditya Birla Payments Bank,
2. Airtel Payments Bank,
3. India Post Payments Bank,
4. Fino Payments Bank,
5. Jio Payments Bank (and)
6. Paytm Payments Bank.

Income taxes are allocated to extraordinary items, discontinued operations and prior period adjustments.