Economics an Introduction

Agriculture

The basic needs of man are food, clothing and shelter. The food we eat like wheat, rice etc are cultivated in the land. The farmers cultivate food grains. This is termed as agriculture.

Agriculturist, laborers and employees help to improve the economy of the country. This is called as national income.

Income earned by individual is called as per capita income.

The facilities like food, cloth and house given by government is called distribution.

Production, Consumption and Distribution.

Market

Consumption

The buying and selling of commodities is termed as trade.

People who buy and sell things are called as traders.

People who buy and sell large quality of commodities is called wholesale merchant.

People who buy and sell in small quantities are called as retailers.

People who buy and sell large quality of commodities is called wholesale merchant.

As the demand increase there is increase in the production, consumption and distribution. This is called as economic development.

Amarthya Sen

When there is deficit for commodities there is rise in price.

When there is surplus in commodity there is decrease of price.

sea

river

land

terrace

food crops

cash crops

food grains

money

collection

distribution

communication

production

Sales

Retailing

Trade

Export

production

consumption

distribution

development

government

economists

businessmen

countries

One

Two

Three

Four

rises

falls

remains stable

changes

fall

rises

remains stable

changes

fall

rise

remains stable

changes

60000

70000

55000

50000

1 4 2 3

2 3 4 1

4 1 3 2

3 4 1 2

1 4 2 5 3

2 3 4 1 5

5 4 1 3 2

3 4 5 2 1