Around the world, economies are stabilizing. But the trade tension between the superpowers USA and China continues to send ripples in the global economic pond, affecting emerging countries, specifically.The World Bank has a conservative global market outlook for 2020, which it estimates to be about 2.5 percent. It is not a significant improvement from the post-crisis numbers registered in 2019. Emerging economies are expected to suffer a slowdown at the levels near the global financial … [Read more...] about Global Market Trends to Watch Out For in 2020
Economy
Cause of the Growth of the State Business Ownership
It involves all those business, trade and industrial activities which are carried on under the ownership and management of the government. It is desired by every Govt. for the purposes of safeguarding the public interest. It is regarded most essential to promote the welfare of the country. The state enterprises are conducted by government or semi-government organization and public or statutory corporation. All the public utility programs are particularly served by the state ownership … [Read more...] about Cause of the Growth of the State Business Ownership
Marshall’s & Robbins Economics Definition
“Economics is the study of man in ordinary business of life. It enquires how he gets his income and here he uses it. It examines that part of individual and social action, which is most closely connected with the attainment and with the use of material requisites of well-being. It is the study of wealth on one side and on the other side, which is more important, it is a part of the study of man. Marshall’s“Economics is the science which studies human behaviour as a relationship between … [Read more...] about Marshall’s & Robbins Economics Definition
Characteristics of Developing Countries
A country where the average income of people is much lower than that of developed countries, the economy depends upon a few crops and where farming is conducted by primary methods is called developing country.“A developing country is that in which per capita income is low when compared to the per capita incomes of U. S. A, Canada, Australia and Western Europe.” According to united Nations Experts:“The under developed country is that which has low levels of living (absolute poverty, poor … [Read more...] about Characteristics of Developing Countries
Importance of Economics
“Political economy is perhaps the only science of which it may be said that the ignorance of it is not merely a deviation of good but produces great positive evil.”In the words of Malthus,“Economics is the intellectual religion of the day.”Durbin“The study of Economics is a practical necessity and a normal obligation.”Sir Henry ClayAll it reflects that Economics has prime importance in social sciences which can be discussed in two partsTheoretical Importance of … [Read more...] about Importance of Economics
Types of Soil in Pakistan – Soil Classification & Characteristics
The physiography of Pakistan is very unique and has a diverse landscape all over the country, with a very distinctly climate in the whole country. Due to these reasons, the physiography of Pakistan is divided according to soil classification.The type of soil formed is a function of topography, climate, vegetation, and the parent rock from which the soil material is derived.Soil texture varies with the size of the soil particles. Coarse-textured soils are sandy, fine-textured soils are … [Read more...] about Types of Soil in Pakistan – Soil Classification & Characteristics
Sugarcane in Pakistan – Physical and Economic Factors
Sugarcane is a Kharif. Sugarcane is an important cash crop of Pakistan. It is a type of long grass “perennial” in nature. The first crop is called “plant cane” and the succeeding crops are called “Ratoon Crops”. Although it is a plant of tropical regions. It can also be cultivated in sub-tropical areas.In Pakistan, Sugarcane is cultivated in the spring season in the month of February or March. It is harvested in November or December. Sugarcane is included in both Rabi and Kharif Crops. It is a … [Read more...] about Sugarcane in Pakistan – Physical and Economic Factors
Importance of Agriculture in Pakistan – Contribution to Economy
The agricultural sector of Pakistan has made a significant contribution to its GDP. When the GDP of the country grows, economic development takes place. In the beginning, the agricultural sector had the highest share in the GDP but then the service sector became the chief provider with the passage of time.Livestock accounts for 9% of the total GDP and 4% of the agricultural sector. Importance of Agriculture in PakistanForeign Exchange Earner The agricultural area is the major source of … [Read more...] about Importance of Agriculture in Pakistan – Contribution to Economy