GS Economy (AIM CSE)

Dear students, Kindly attempt the main answer writing and submit regularly on the portal.

Parle G, indeed, deserves some consideration.

There is no class tomorrow.

Hi Students, Sessions, tomorrow and day after, will be slightly extended. Thanks.

There is no easy fix to declining workforce productivity in India | Mint https://www.livemint.com/market/mark-to-market/there-is-no-easy-fix-to-declining-workforce-productivity-in-india/amp-11572794041485.html

Dear students, This will certainly be useful in perceiving today's classroom discussion in current context. https://m.economictimes.com/news/economy/indicators/retail-inflation-for-farm-rural-workers-rises-marginally-in-june/amp_articleshow/102007732.cms

Hi All, Atleast these are the points that might cause curiosity: OPEC and OPEC+ Crude oil futures WTI MCX Oil supply and Inflation in India

Read this piece. May help you broaden your learnings. Identify and share the keywords which may be useful in your preparation... I will also update a list of keywords from this news piece.

Mineral resources are part of the economy and economic geography. Read the article and develop over such issues including critical, minor, major and rare minerals as you proceed with the syllabus. Important for both prelims and main exam. https://www.downtoearth.org.in/news/energy/minerals-security-partnership-india-joins-the-critical-minerals-club-here-s-why-this-is-important-90278

Dear Students, Kindly understand, the channel and linked group is for subject matter discussion and preparation strategy only. Refrain from communicating any other issues, rather use relevant medium. Thanks!

https://www.thehindubusinessline.com/news/world/per-capita-gdp-for-bangladesh-higher-than-india-till-2022/article66823548.ece Read this news. Shows a comparison between India and Bangladesh on GDP per capita. Think about the factors affecting per capita GDP...

Inferior and Giffen goods causing troubles to many. Let's try to resolve. Read and re-read to understand. An inferior good is an item that consumers buy less of as their income rises; they have a negative income elasticity of demand. These goods are usually of cheaper, lower quality than comparable items that a consumer might want to buy, but can’t afford. For most inferior goods, though, price elasticity of demand behaves similarly to normal goods; when the price increases, consumers buy less of these goods. Thus, inferior goods do not violate the basic law of demand. Giffen goods are one subtype of inferior goods that behave differently. Consumers buy less of Giffen goods as their income rises, as usual for inferior goods. The difference is that consumers will buy more of a Giffen good (as a percentage their income) as its price rises. Therefore, Giffen goods exhibit a negative income elasticity of demand – like inferior goods – but a positive price elasticity of demand, like certain luxury goods (specifically Veblen goods). Giffen goods are usually staple food products that people rely on to survive, like rice and wheat. Example - Consider a poor laborer in a low-income region whose diet mainly consists of rice. When the price of rice rises, the laborer has little choice but to spend more of their income buying it, because they need the same amount of rice to survive regardless of the price. Thus, their consumption of rice increases as a proportion of their total income. Meanwhile, their consumption of other goods falls, as they have less cash left to buy non-essentials. #Ecoconcept

Dear students of live classes, If some of you find your doubts are not taken kindly try these alternatives: Ask in the next class. Ask via email. Don't be disappointed. There will be resolution. Thanks.