Macroeconomics Class 12th Economics NCERT Summary BY RAHUL SHAKYA unacademy Macroeconomics
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CRASH COURSE ON PUBLIC ADMINISTRATION FOR UPSC CSE unacademy BY RAHUL SHAKYA
Emergence of Macroeconomics John Maynard Keynes The general theory of employment, interest and money in 1936. Great Depression in 1929 - Employment and Production fall in North America and Europe His approach was to examine the working of the economy in its entirety and examine the interdependence of the different sectors. The subject of macroeconomics was born
Factors of Production . Land . Labour .Capital Entrepreneurs
Characteristics of Capitalist Economy Capitalist Economy Private Ownership Production for selling the output in Market Sale & Purchase of Labour service @ Wage Rate Labour @ Wage Rate Wage Labour
Major Players in Domestic Economy -> Firm Production Unit Household Decision maker Individual or group which takes decision about consumption .State Government . External Trade