01Nov 2018 by admin

1029 Words Free Sample Essay on one world state

Economic Development
Man’s oldest dream has been to establish one world state or a world government consisting of all the countries of the world. In the past also some religious and political philosophers had envisaged this idea of a world state. The Vedas of the Hindus had preached “Vasudhaiva Kutumbakam” i.e. the entire world should be treated as one family.Saint Augustine, the famous Christian philosopher, talked of establishing one world kingdom of God on this earth and thereby achieving world unity. Dante, an Italian philosopher, favoured the setting up of a world government for the peace and the prosperity of the entire mankind. Thus a number of great men have been propagating the idea of one world state from time to time.Although the idea of one world state has not taken concrete…
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01Nov 2018 by admin

Essay on Non-Resident Indian

Trade
A Non – Resident Indian (NRI) is a citizen of India who has migrated to another country. Non – Resident Indian also refers to a person of Indian origin who resides out of India.A person of Indian origin who is born outside India is also called a non – resident Indian. Since time immemorial India has been a part of the world, with its people interacting with the rest of the world. ADVERTISEMENTS: History tells us how India was once the Mecca for trade, tourism and philosophy. People from all over the world flocked to India. In time Indians have travelled to other parts of the world in search of better education and better job opportunities.Today, non resident Indians that inhabit almost all the different countries of the world amount…
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31Oct 2018 by admin

Essay on Save Trees

Housing
In times when deforestation has led to global warming, acid rain and the green house effect; ‘saving trees’ has become an issue we have to address.Environment degradation has occurred almost everywhere thanks to man’s need to capture more and more land either for agriculture or for housing purposes. ADVERTISEMENTS: Rainforests around the world are being cleared, since people are misled to understand that these rainforests that are often hot and humid, insect ridden and difficult to penetrate are of no use to humanity.However, the truth is that when we clear rainforests we stand not just to lose an entire ecosystem but we risk our own quality of life as well; we are gambling with the stability of the climate and we are undermining the precious services afforded by their biological…
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31Oct 2018 by admin

684 Words Short Essay on problem of brain drain in India

Economic Development
When highly qualified experts like scientists, engineers, doctors and oft trained persons migrate from under-developed countries and settle down: advanced countries, their migration is called “Brain Drain“. This problem is n peculiar to India alone. It is being faced by almost all the developing country of the world.Brain drain results in direct loss to the underdeveloped and poor countries who train these experts at a great cost. When these experts migrate to advance countries, such countries stand to gain because they get the services of the experts without having had to spend anything on their training.According to a U.N.O. report, thousands of experts migrate from backward countries like India to highly advanced countries like the U.S.A., U.K., Canada, Germany, etc. U.S.A. has been the biggest gainer from the brain drain…
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29Oct 2018 by admin

5 Limitations of the Classical Theory on International Trade

Trade
The demerits of classical theory result from three main facts, viz.:i. The extreme complexity and dynamism of modern economies,ii. The policies pursued by national government and economically powerful business corporations, and ADVERTISEMENTS: iii. The restrictive nature of the assumptions made by the theory, such as absence of trading costs and non-price competition, etc.Let us have a brief look at these limitations. blueinteractiveagency.com 1. Labour Theory of Value: Ricardian theory of international trade assumes the application of labour theory of value which is not able to provide a satisfactory explanation of the determination of either commodity prices or factor prices in a modern economy. ADVERTISEMENTS: It is because labour theory itself is based upon highly unrealistic assumptions. For example, we have noted above that for it to be valid, labour should…
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29Oct 2018 by admin

6 Advantages of Open Economy Policy to a Country

Economic Development
Here are six (6) advantages that an open economy can provide to a country: 1. Economic Growth It is claimed that an open economy, with given productive resources, can have a higher GDP. Alternatively, for producing a given GDP, it spends a smaller quantity of productive resources.This happens due to its enhanced access to improved and better technology which provides an upward thrust to economic development. thyblackman.com 2. Lower Costs Open economies are able to get cheaper imports and can sell exports at higher prices. In other words, both importers and exporters of open countries [and therefore, their consumers] benefit from price differentials. 3. Improved Availability of Goods and Services International trade in goods and services enables each country to concentrate on the production of those goods in which it…
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29Oct 2018 by admin

Short Notes for Kids about Carnatic Wars

Trade
Between 1744 and 1763, the British and the French were involved in two wars in Europe. At the same time, British and French trade interests clashed in South India.These factors led to three major wars, called the Carnatic Wars.The First Carnatic War (1744-1748) was an echo of a war in Europe, in which Britain and France took opposite sides. J F Dupleix, the French governor of Pondicherry, captured Madras, but restored it to the British after the war in Europe ended. ecx.images-amazon.com ADVERTISEMENTS: British and French involvement in the local politics of Hyderabad and the Carnatic caused the Second Carnatic War (1748-1754). The Carnatic, with its capital at Arcot, was a province under the Nizam of Hyderabad. However, the Nawab of Arcot was almost free from the Nizam’s control.The death…
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29Oct 2018 by admin

Exchange Rate Determination Theory and it Affects Demand and Supply

Currency
This approach holds that irrespective of what happens to demand and supply of a currency in the foreign exchange market, its exchange rate is determined by the interaction of its demand and supply functions. It is conventional to illustrate this theory with the help of normal demand and supply curves.The basics of this theory may be explained on the simplifying assumption that there are only two currencies in the foreign exchange market, say, the Indian Rupee and the US Dollar. As a result, supply of rupees in the exchange market generates an equivalent demand for dollars and vice versa.Demand for rupees comes from several sources like Indian exports of goods and services, travel by foreigners in India, and inflows of funds on account of gifts, charities, remittances of earnings from…
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29Oct 2018 by admin

Automatic Adjustment Rate of Exchange-Sample Computation and Evaluation Based on USD vs Rs

Investment
Cases when exchange rate deviates from the mint parity beyond gold points, it will be automatically adjusted back. For example, in our numerical example given above, if exchange rate moves against rupee such that $ 1 buys more than Rs.40.04, then it will pay to sell dollars and buy rupees, get rupees converted into gold, send that gold to USA and get them converted into dollars and thereby make a profit.As a result, supply of dollars and demand for rupees will increase in the market and exchange rate will move back to within the range determined by gold points around the mint-parity. Evaluation: The mint parity theory suffers from some serious limitations even on analytical grounds. It projects an adjustment process which is conceptually deficient and ignores some vital realities.…
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29Oct 2018 by admin

500 Word Essay on Mint Parity Theory of Exchange Rate Determination

Currency
When trading countries are on gold standard, such that gold bullion and/or coins can be freely exported from and imported into the trading countries from each other, we get a situation in which the exchange rate is determined by the ratios of metallic contents of the currencies.This conclusion holds even when only paper currencies are used for domestic circulation and gold is used only for inter-country shipments. Similarly, the basic theory stands even when the trading countries are on different metallic standards.The authorities of a gold standard country commit themselves to buying and selling unlimited quantities of gold (and allowing its export and import) against the domestic currency at fixed prices. upload.wikimedia.org ADVERTISEMENTS: Under the circumstances, therefore, the exchange rate between any two currencies is determined by their mint parity,…
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