19Oct 2018 by Reese Bannister

2 Most Important Applications of Diminishing Marginal Utility Law

Government
The Most Important Applications of Diminishing Marginal Utility Law are listed below: (A) Marginal Utility of Money: Ordinarily people think that the law of Diminishing Marginal Utility will not be applicable to money. The more the money a man gets the merrier he will be. Money represents the generalised purchasing power.Money is not a commodity but a bundle of commodities. With the help of money we can purchase anything we like. So more money does not bring dissatisfaction nor marginal utility of money does diminish. Image Source: i.ytimg.com ADVERTISEMENTS: This is not true. The law also applies to the stock of money. If a man has more stock of money he is a rich man. If he has got less stock of money he is a poor man. A rich…
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19Oct 2018 by Reese Bannister

Legal Provisions Regarding ‘Investigation’ under the Code of Criminal Procedure, 1973

Essays
Investigation includes all the proceedings under this Code for the collection of evidence, conducted by a Police Officer, or by any person (other than a Magistrate) who is authorised by a Magistrate in this behalf. image source: cdn.abclocal.go.com “Investigation”, “Inquiry” and “Trial”: Three stages in a Criminal Case: The three terms “investigation”, “inquiry” and “trial” ordinarily denote three different stages of a criminal trial. The first stage is reached when a Police Officer, either by himself or under an order of a Magistrate, investigates into a case. ADVERTISEMENTS: If he finds that no offence has been committed, he drops the proceedings. But if he forms an opinion that an offence has been committed, he sends up the case to a Magistrate. Then commences the second stage.The Magistrate inquires into the…
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19Oct 2018 by Reese Bannister

What do you mean by Judicial Proceedings? – Answered!

Government
A judicial proceeding is defined to include any proceeding in the course of which evidence is or may be legally taken on oath.Thus, the power to take evidence on oath is the characteristic test of a judicial proceeding. It includes inquiry and trial, but not investigation.An inquiry in which evidence is legally taken is included in this term. An inquiry is judicial, if its object is to determine the jural relation between one person and another, or a group of persons, or between him and the community in general. Therefore, even a Judge acting without such an object in view, is not acting judicially. image source: 3.bp.blogspot.com ADVERTISEMENTS: An inquiry in which no discretion is to be used and no judgment to be formed, but something is to be done…
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19Oct 2018 by Reese Bannister

5 Main Criticisms against Wealth Definition of Adam Smith

Economics
This definition was criticised on several grounds as follows: Image Source: getdebtfreewealth.com (i) Restricted Meaning of Wealth: In Adam Smith’s wealth-oriented definition the meaning of wealth is restricted. Only material goods were considered as wealth. Non-material goods like services of doctors, lawyers and teachers were not considered as wealth. This restricted meaning of wealth has restricted the scope of study of Economics. (ii) Neglect Human Welfare: ADVERTISEMENTS: During the later part of the 19th century, the economists started realizing the humanistic character of economics. It was visualized that wealth is only a means to an end, the end being human welfare. Therefore, some economist severely condemned Adam Smith wealth definition which gives too much importance on wealth and completely ignored human welfare. (iii) The Concept of economic man: The concept…
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19Oct 2018 by Reese Bannister

5 Main Features of Marshall's Welfare-Oriented Theory

Business
The main features of Marshall welfare-oriented theory, which gave primary importance to man and his welfare, are as below: Image Source: d39ya49a1fwv14.cloudfront.net (i) Study of man kind: Economics deals with ordinary men and women, who have feeling of love, affection, and friendship and do not get motivated merely by the desire of availing themselves of the maximum monetary benefits. (ii) Study of material welfare: ADVERTISEMENTS: Economics does not study all types of human activities but only a part of those activities related to material welfare. (iii) Study of social man: Economics is a Social Science, which attempts to study the ordinary business of life of the persons living in society and influencing each other. That ordinary business of person refers to the activities of earning and spending the income for…
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19Oct 2018 by Reese Bannister

6 Criticism Against the Scarcity Definition of Robbins

Economic Problems
Robbins had made Economic more wide in scope and scientific in outlook. Wherever we find a problem of choice has to be made we can say that it is an economic problem. Adjustment of unlimited wants to limited means of varying uses to get the maximum is the universal law of economics like laws of science.In spite of above contribution of Robbins in the field of economics, he is not free from criticisms which have emerged on account of rapid economic progress and increasing scope of economic aspects. The main points of criticism are discussed below, which led to further modifications in the definition of economics. Image Source: energyevolutionhealing.com (i) Welfare concept: ADVERTISEMENTS: It is generally pointed out that Robbins has said much against the welfare but it is a…
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19Oct 2018 by Reese Bannister

5 Main Features of Samuelson's Growth Definition of Economics

Economic Development
The definition of Economics had taken a static view of the dynamic problem until Samuelson removed this defect. The greatest merit of Samuelsson definition is that it recognises the dynamic changes taking place, both in the means (resources) and ends (wants) with the passage of time.The progress or changes occurring from time to time also affect the whole concept of the related developments in economic world. That is the reason of describing it as a growth-oriented definition.Samuelson defined Economics as follows: Image Source: a5.files.biography.com “Economics is the study of how people and society choose, with or without the use of money, to employ scarce productive resources which could have alternative uses, to produce various commodities over time and distribute them for consumption now and in the future among various persons…
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19Oct 2018 by Reese Bannister

Duties of Public to Assist Magistrate and Police under section 37 of the Code of Criminal Procedure

Essays
Section 37 of the Code of Criminal Procedure makes it the duty of every person to assist a Magistrate or Police, when reasonably called to do—(a) For preventing the escape of any other person whom such Magistrate or Police Officer is authorised to arrest; or(b) For preventing or suppressing a breach of the peace; or image source: cdn.shareyouressays.com/ ADVERTISEMENTS: (c) Preventing an injury attempted to be committed to any railway, canal, telegraph or other public property.The word “reasonably” used in the section indicates that no person is bound to obey an unreasonable order of a Magistrate or Police Officer. Thus, in one case, when a Magistrate ordered a landlord to find a clue to a theft within 15 days, it was held that such order was unreasonable and unwarranted by…
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19Oct 2018 by Reese Bannister

Functions of the Executive Magistrates in India – Explained!

Government
In every district and every metropolitan area, the State Government is empowered to appoint as many persons as it thinks fit to be Executive Magistrates. One of them is also to be appointed as the District Magistrate.Similarly, it may also appoint any Executive Magistrate to be an Additional District Magistrate. Moreover, the State Government can also confer, under any law in force, all the powers of an Executive Magistrate on a Commissioner of Police.The State Government can also place an Executive Magistrate in charge of a sub-division and may relieve him of the charge as occasion requires. Such a Magistrate is called the Sub-Divisional Magistrate. Under the 2005 Amendment, this power of the State Government may be delegated to the District Magistrate. image source: lexisnexis.com.au ADVERTISEMENTS: The State Government is…
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19Oct 2018 by Reese Bannister

Understanding the Importance of pH in Everyday Life

Essays
1. pH in our digestive system: Our stomach produces hydrochloric acid. This dilute hydrochloric acid helps in digesting our food without harming the stomach. Sometime, excess of acid is produced in the stomach for various reasons such as overeating.The excess acid in the stomach causes indigestion which produces pain and irritation. In order to cure indigestion and get rid of pain, we can take bases called antacids. Being basic in nature, antacids react with excess acid in the stomach and neutralize it.The two common antacids used for curing indigestion due to acidity are Magnesium hydroxide (Milk of Magnesia) and Sodium hydrogen carbonate. Image Source: dr282zn36sxxg.cloudfront.net 2. pH change as the cause of tooth decay: ADVERTISEMENTS: When we eat food containing sugar, then the bacteria present in our mouth break down…
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