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What is Trade Union Movement? explain the weakness and measures to strengthen TUM.
Introduction: “A trade union is a continuous association of wage earners for the purpose of maintaining or improving the condition of the working life.” The trade union movement refers to the collective efforts of workers to organize and form unions to advocate for their rights, improve working conditions, and increase bargaining power with employers. Rooted…
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What is Industrial disputes? explain the causes and measures to settle industrial dispute.
Introduction: Industrial disputes in economics refers to conflicts or disagreements between employers and employees within an industry. These disputes revolve around terms of employment, working conditions, wages, job security, and other labor-related issues. Industrial disputes can take many forms, from strikes and lockouts to work-to-rule and go-slows. Understanding these disputes is essential in economics because…
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What are Multinational Companies. explain its merits and demerits.
Introduction: Multinational company / corporations are huge industrial organization which extends their industrial and marketing operation over a number of countries. They are known as transnational corporations, international corporations and global corporations. It may be define as large business corporation control predominantly by nationals of the country in which there headquarters are situated but with…
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Internal Assessment Test – Questions with Answers-Economics-1(Principles of Economics) any one from each.
Q.1a. Critically explain the welfare definition of Economics. ANS- Welfare definition is also called as Neo-Classical definition of economics. Alfred Marshall gave this definition in his book called Principles of Economics which was published in 1890. Alfred Marshall defined Economics as the study of mankind in the ordinary business of life. The definition is not…
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Explain the problems of small scale industries in India.
Introduction: Small-scale industries (SSIs) are businesses that operate with a relatively low investment in capital, labor, and resources, and basically produce goods and services on a smaller scale. These industries are essential to many economies, especially in developing countries, because they provide employment opportunities, support local economies, and contribute to the GDP. Small-scale industries (SSIs)…
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Explain the role and importance of small scale industries in Indian Economy.
Introduction: Industries are broadly divided as large scale and small scale industries on the basis of sizes, capital resources and labor force of individual unit. The small scale industries include the cottage or village industries. The fiscal commission in 1950 defined the cottage and small scale industries as follows “a small scale industry is one…
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Briefly explain the Industrial policy 1991.
Introduction: The Industrial Policy of 1991 was a landmark reform in India’s economic policy, marking a shift from protectionism and government control to liberalization, privatization, and globalization. Announced on July 24, 1991, by then-Finance Minister Dr. Manmohan Singh under the leadership of Prime Minister P.V. Narasimha Rao, this policy aimed to dissolve the License method,…
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Explain the Industrial policy 1956 of India.
Introduction: Industrial policy is a statement of the government which contains guidelines for the establishment and development of new industries and controls and regulation for the working and the management of the existing industries. The first industrial policy resolution was issued by the government of India on April 6 1948. Industrial policy resolution 1956 salient…
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What is Industrialization. Explain the importance of Industrialization in India.
Meaning: Industrialization is a process of manufacturing consumer goods and capital goods and of building infrastructure in order to provide goods and services to both individuals and business. As such industrialization performs a great part in economic development. It helps to increase the share of industrial sector in the national product and labor force in…