Category Archives: Economics


Angus Deaton won the Nobel prize in Economic sciences 2015 for his “analysis of consumption, poverty and welfare.” Through his work, he tried to improve the accuracy of measurements of economic indicators like income, consumption and poverty. His work has Read more…


Gross Domestic Product is widely accepted as a measure of the economic development of a country. GDP measures both nation’s total output and income. There is a strong correlation between a country’s GDP and its standard of living. Countries that Read more…


What is inflation? In simple terms, inflation is the increase in the price of goods and services, and the inflation rate is the rate at which such increase takes place. Let’s say, the price of apple increases from Rs. 100 Read more…

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