Chapter 1 introduction
1.. Macro Economics It
deals with the aggregate economic variables of an economy.
2. Capitalist Country In
a capitalist country production activity are mainly carried out by
capitalist enterprises.
3. Wage Rate There
is sale and purchase of labour services at a price which is called the
.v..a. go rate.
4. Wage Labour The
labour which is sold and purchased against wages is referred to as wage
labour.
5. Great Depression Great
depression of 1929 and the subsequent year saw the output and employment
levels in the countries of the world as well.
6. Entrepreneurs People
who exercise control over major decisions and bear a large part of the
risk associated with the firm/enterprise.
7. Revenue The money that is
easned is called revenue.
8. Investment Expenditure Expenses
which raise productive capacity are called Investment Expenditure.
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