Indian Economy Questions

The term market in economics refers to the place or arrangement where the buyers and sellers come to contact directly or indirectly for buying and selling goods. Market refers to not a specific or particular place it is the place for commodities..

Cost variance is nothing but the difference between the actual incurred cost and the estimated standard cost. This can be occured due to any changes in the volume of goods or services ordered. 

A favorable cost variance occurs when the actual incurred cost is less than the standard cost estimated before the production.

Deficit financing implies public expenditure in excess of public revenue.

"GDP price index" measures changes in the value of final output produced in the nation.

If expenses are paid in cash then the assets will decrease.