Indian Economy Questions

Sociologists define the concept of "race" as a socially constructed category composed of people who share biologically transmitted traits that members of a society consider important.

Fiscal policy is connected with public revenue and expenditures. This policy is the use of government revenue collection to monitor the nation's economy.

Working capital, also known as net working capital, is the difference between a company’s current assets, like cash, accounts receivable and inventories of raw materials and finished goods, and its current liabilities, like accounts payable.

Working Capital = Current Assets - Current Liabilities

The long-run aggregate supply curve is vertical because it is at the full-employment or potential output. Because the economy's potential output is determined by the availability and productivity of real resources, not by the price level. That means that even if demand increases, firms can't hire new workers and expand because everyone is already working.

The Law of Demand tells that, if the price of a product increases then the demand will go down i.e, decreases iff all other things equal.