M.A. ECONOMICS @ PANJAB UNIVERSITY
Hii. Myself Isha Gupta . I am from jalandhar. i have done my post graduation from S.C.D Government college Ludhiana. My passion is working with students who are struggling academically. Although i got selected in many reputed MNC like IBM, INFOYSIS in my last year of graduation. but due to my passion of teaching , i didn"t take that opportunity. i like to travel a lot. I have also done C++. I had won many debates competitions and took part in various seminar ehen i was in college.
Demand and Supply, Equilibrium of Demand and Supply, Price Elasticity, Income Elasticity, Cross Price Elasticity, Consumer Surplus, Producer Surplus, Externalities, Law of Diminishing Marginal Utility, Pure Competition, Monopoly, Monopolistic Competition, National Income, Gross Domestic Product, Unemployment
Hello to all. I would like to acknowledge you that i have a teaching experience of 8 years including that of in school. Every time whenever i am going to teach a class as a part of this noble profession.... I am learning also. .Though my path towards education started early in my high school years, even then i remembered my first student whose name is "Sartaj" of ClassXII . I taught him economics and we both worked so hard that in the final board exams he got 98 out of 100. My teaching philosophy : ""TO TEACH MY STUDENTS HOW TO LEARN.... and not simply WHAT TO LEARN "
Demand refers to consumers desire to purchase goods and services and willingness to pay a price for that specific good or service. Now suppose you want to buy a car of rs. 10 lakh and u have the required money and you are ready to spend the money, so that"s called demand. Always note their is an inverse relationship between price and quantity demanded. suppose currently the price of potato is Rs.20 per kg. Now if the price falls to Rs. 15 per kg , the qty demanded will increase assuming that there is no change in income of the consumer. and this negative relationship between the price and qty demanded is known as Law of Demand.
Pure competition is also know as Perfect Competition. In this market , there are many sellers selling homogeneous goods and many buyers . The best example of this market is Vegetable Market. where all the sellers are selling same type of onions for eg. having no control over the price. almost same price prevails in the market for one product.If one seller tries to increase the price , he will lose the customer and if some seller tries to decrease the price , he will have reduction in profits . So same price prevails in the market for a product. the firms in this market are only price taker.
Unemployment occurs when workers who want to work are unable to find their jobs. High rate of unemployment is a signal of economic distress . Unemployment can be classified as frictional, cyclical. structural or institutional. The corona-virus pandemic affecting India and the world in 2020 for example is causing massive levels of involuntary unemployment
The balance of payments also abbreviated as B.O.P. is the difference between all money flowing in the country in a particular year and outflow of money to rest of the world. These financial transactions are made by individuals, firms and government bodies. It consist of three components : Current account , Capital account and financial account . The current account reflects a country's net income while the capital account reflects the net change n ownership of national assets . B.O.P. can be favorable or unfavorable
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