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CENTRAL PROBLEMS OF AN ECONOMY

        CENTRAL PROBLEMS OF AN ECONOMY In any Economy there are three central problems (or basic problem) of an economy , namely :- Production,Distribution and Disposal of the goods and services produced in any economy. Now a days every society ( Developed or Underdeveloped)  is  facing the problem of scarcity of resources.                                                       There is a term PPC , stands for Production possibility curve  which represents various combination of two goods which  an economy produces with given technique and resources. this term is used to describe all the problems of an economy graphically.   We can understand the  problems with the help of  this chart In this figure there are  three types of problems but these are now a days not recognised...
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PRIORITY SECTOR LENDING (PSL)

PRIORITY SECTOR LENDING(PSL) PSL has an important role to play ,given by RBI to the banks for providing a specific portion of the bank lending to specific sectors.   PSLC ( Priority Sector Lending Certificate)  , These are the certificates issued by banks that had over achieved their target buyers of PSL . PSLC  are usually those banks  which have a short fall.    The sectors essential for lending are as follows:- A. HOUSING B. RENEWABLE RESOURCES C. SOCIAL INFRASTRUCTURE D. EDUCATION E. EXPORTS F. MSME( Micro , small and medium enterprises) G. AGRICULTURE and  Others * HOUSING Loan to individuals upto ₹ 35 lakh in metropolitan area and ₹ 25 lakh in other areas . For purchase or construction of a housing unit per family excluding bank own employees. Loans for repair of houses  upto ₹ 2,00,000 rural or semi-rural areas and ₹ 5,00,000 for urban or metropolitan areas . AREAS           ...
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INDIFFERENCE CURVE

          INDIFFERENCE CURVE Indifference curve is a  curve that shows the combination of goods which gives the same level of satisfaction to the consumers so that an individual is indifferent  .                      In other words , all combinations of goods which lie  on a consumer's indifference curve are equally desirable  to or equally preferable by consumer.                      The Technique of indifference curve  was first of all invented by the  classical economist EDGEWORTH   but he used it only to show the possibility of exchange between two persons and not to explain consumer demand.                      Later two economists J.R.Hicks and R.G.D. Allen in their now well known paper, "A Reconsideration  of the theory  of Value". ...
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