Indian Economy Questions

According to the report by the Commerce Ministry ‘Logistics Ease Across Different States (LEADS)’, Gujarat has topped the Logistic Index Chart, an indicator of the efficiency of logistics services necessary for promoting exports in particular, and economic growth in general. Gujarat is followed by Punjab, Andhra Pradesh, Karnataka and Maharashtra on the index.

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..

An increase in demand means that the demand curve shifts to the right, and hence quantity demanded will be high at each price.

• The Department of Economic Affairs, Finance Ministry of India presents the Economic Survey in the parliament every year, just before the Union Budget.

• It is prepared under the guidance of the Chief Economic Adviser, Finance Ministry.

• It is the ministry's view on the annual economic development of the country.

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

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

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.