eChapters

1.    The word “economics” has been derived from the Greek word_______ which means household management?

(a) OIKONOMICAS

(b) OIKOS

(c) NOMOS

(d) OICONOMICAS

2.    The term “microeconomics” has been derived from a Greek word ____________.

(a) MICROS

(b) MIKROS

(c) MACROS

(d) MACROS

INTRODUCTION

The trend of rising unemployment is compounded by the existences of regional imbalances in development, within the country, which have collectively accelerated the phenomenon of migration. The history of migration is the history of people’s struggle to survive and to prosper, to escape insecurity and poverty, and to move in response to opportunity. In developing countries like India, migration mostly takes place not due to the so called the full forces of the destination place, as usually happens in case of developed countries, but because of poverty, unemployment, natural calamities and under development of the origin place. Migration in developing countries like India is still viewed as a survival strategy. In India internal mobility is critical to the livelihoods of many peoples, especially for people from rural areas. In the Dindigul District of Tamil Nadu, NREGA works have stemmed migration from many villages. Ministry of Rural Development (2006). It has been conceptualized that, creating job out of NREGA programme will check the migration of the people from one place to another. In Pusa block, of Samastipur district the NREGA is in operation for about two and half years. It is with this background the present article has been presented with the specific objectives toexplore the extent ofmigration check among NREGA beneficiaries, running in this block.

Liquid milk is the cheapest form of milk whereas value added products like yoghurt and paneer, already popular in India are ways to earn a higher income with some raw materials. Farms should focus on dairy herd improvement, herd management etc. Milk and dairy products are always very helpful to farmers for a constant source of income besides their regular farm products. They do not required to expend extra for their feeding if the number of cattle are less. With slight extra care they can earn enough to meet their daily expenses. Cows, buffalo, all the milk giving animals are easy to care.

ABSTRACT

In 21^st century, the world has turned into a global village. This herculean task has been made possible with the advent of ICT tools. When we think of ICT, the most omnipresent tool that comes in our mind is mobile phones. With the increasing rate of mobile phone penetration in the urban as well as in rural areas, it is now possible to connect the farmers leaving in the far-flung areas with the institutes, who are working for the betterment of farming community. Today, mobile phones play a significant role in everybody’s life, besides being an efficient way to stay connected with the family; it also paves a way to bridge the gap between the availability and delivery of agricultural inputs and agricultural infrastructure. Mobile phones provide basic connectivity, mobility and security to owners, it works using the radio spectrum, so no need to rely on physical infrastructure, requires basic literacy only, also its services are available in local language; short message service (SMS), multi-media service (MMS) and voice communication are the added benefits. It allows transfer of data which can be used in the context of applications for the purpose of health, education, commerce and governance. Mobile phones are increasingly affordable due to factors like increased private sector competition and innovative payment methods. Due to high access, its reach, good adoption and real-time interaction mobile phones offer efficient solutions to governments’ communication challenges. Mobile phones helps the farmers in agriculture decision making, as they provide information related to crops, weather forecasting, seeds, fertilizers, bio-pesticides, soil fertility, pest and disease diagnosis, demand and supply of agricultural products, different schemes and technologies. Mobile based initiatives like SMS services related to weather forecast, disease forecast, and market information are issued to farmers by different organizations like IFFCO Kissan Sanchar Limited (IKSL) and Reuters Market Light (RML). Farmers can raise queries related to agriculture and allied sectors using their mobile phone to a farmer call centre which has been operating in every state of India. There are many such initiatives, which are working to provide valuable services, and also it provides opportunities to further explore the potentialities of mobile phones as a tool for transforming the farming scenario of India.

Introduction

Agriculture is an important sector for countries like India, who have majority of its population, directly or indirectly depend upon agriculture. The sector which feeds the majority of population of any country needs special attention for its all round development. Marketing is such a crucial aspect related to agriculture that is probably not developed in any of such countries which largely depends upon agriculture. Underdeveloped and lack of resources are the main reasons behind the underdeveloped nature of agricultural marketing. In simple terms, agricultural marketing means the buying and selling of agricultural produce. The Indian council of Agricultural Research defined involvement of three important functions, namely assembling, preparation for consumption and distribution.

Introduction

Monetary policies are the policies used to regulate the money supply, cost, and availability of credit in the economy. Monetary policy is considered as an important tool of controlling inflation in the economy.

Central banks use monetary policy to guide the economy. They set interest rates, control the amount of money in circulation, and take other actions to affect inflation, encourage economic growth, and ensure financial stability. The ability of monetary policy to influence the economy is not absolute. It is affected by several variables, such as how adaptable the economy can expand or contract (supply and demand) and the link between monetary policy and economic development. It plays a significant role in shaping the effectiveness of monetary policy. For example, when people have more pessimistic expectations of inflation, they tend to hold less money and monetize more debt. Economic growth tends to be positively correlated with certain financial factors. For instance, higher inflation, an increased money supply, and lower interest rates are often associated with stronger economic growth. Plus, people's expectations regarding future inflation can also impact economic growth. A reduction in available money can weaken the impact of monetary policy. To accurately assess the effectiveness of monetary policy, it's important to consider. Flexibility and limitations in economic supply and demand. The relationship between monetary policy and economic growth. Expectations of inflation It's also essential to account for potential drawbacks and unexpected effects of monetary policy. Additionally, monetary policy should consider the interaction between monetary and fiscal policies. In formulating domestic monetary policy, the global economic landscape holds significant sway. Factors such as the global economy, currency exchange rates, and international trade can profoundly influence a country's monetary policy framework. Moreover, in today's interconnected financial system, central banks must be cognizant of the broader implications their monetary actions may have on other economies, highlighting the need for a global perspective in monetary policy decision making.

Money

Money has made rapid economic progress possible in this modern age. In the early stages, exchange took the form of barter The direct exchange of one good for another is known as barter. For instance, the potter received paddy from the farmer in exchange for cooking pots. Barter became more challenging as there were more items to trade. Silver and other precious metals were thus utilised as currency. Then the paper currencies were used as legal money, i.e., an instrument of exchange, by the governments.

Definition of Money

Anything that the general public readily accepts as payment for products, services, other assets, and the discharge of debt is referred to as money. Robertson defned money, “as anything that is acceptable in discharge of obligations”.

According to Crowther, “Money is anything that is generally acceptable as a means

18.1. Meaning
When the human civilization was not developed, people used to exchange those goods which they produced for those which others produced. Such an act of exchanging goods for goods is called barter. But as the years rolled by and when the social organization became more complex, barter system was found to be not practicable. The following are the main difficulties which were found in the barter system.
1. Double coincidence of wants
2. Lack of a standard unit of account
3. Impossibility of subdivision of goods
4. Lack of information
5. Production of large and very costly goods not feasible
The difficulties in barter system were replaced with the introduction of money. Money has been defined as the medium of exchange. According to Robertson money is defined as “Anything which is widely acceptable in discharge of obligations”. The different stages in the development of money are as follows.
1. Commodity Money: The earliest form of money consisted of goods like rice, wheat, cattle, skins, elephant tusks etc. These were accepted as they were all desired by all the people.
2. Metallic Money: As the civilization advanced, people found it difficult to carry on the exchange transaction with commodities, as they were found to be very inconvenient. Commodity money gave way for the metals to be used as money. These metals include gold, silver, copper, bronze, etc. From the beginning of their introduction, Government kept the right to issue coins and certify their weight and quality. Metals were converted into coins for this purpose.

Project monitoring is the process of keeping a close eye on the entire project management life cycle and ensuring project activities are on the right track. It is a continuous function that aims primary to provide functionaries with required feedback and early indication of progress or lack of their achievements of intended results.

ABSTRACT

India is the second largest producer of vegetables in the world after China with an annual production of 162.19 million tonnes from an area of 9.2 m ha. The requirement of vegetables in the country has increased a lot to meet the nutritional requirement of an estimated 1200 million population expected by 2020-21. Although the productivity levels of vegetables have increased manifold, it would not be sufficient to feed the ever increasing population. Production per unit area of land, time and inputs can be increased by improving efficiency of the rate and extent to which solar energy is harvested for conversion to economic produce. In multiple cropping systems, the possibility of more efficient use of resources like sunlight, nutrient and water per unit area is higher leading to higher production stability. It can be very much successful in high imput requiring crops like vegetables. Intensive cropping involving multi-tiered vegetable crops like pointed gourd + elephant foot yam + cowpea grown on the single piece of land at the same time can generate profits up to Rs 1,30,000 per acre. India ranks first in the youth population. If the energy of these dynamic youth is properly utilized in the field of better agricultural practices, especially vegetable cultivation, it will help improve the national productivity of vegetable crops and generate employment as a whole. Thus, intercropping involving multi-storied/ multi-tier cropping system can serve as well-established practice for sustained supply of vegetables throughout the year through which rural youth can generate high income for sustainable livelihoods and increased per capita income.

Macroeconomics approaches the economic problems in terms of aggregates like national income, general employment level, aggregate demand, aggregate production and so on. The important among the above is national income. The one common thing to all products is value. Therefore, the national income must be expressed in monetary terms. The entire value of the goods and services (output) produced by an economy over time is measured by national income (normally a year). It also serves as a measure of the money generated by production and/or the total amount of expenditures made in order to produce the output.

Significance

The Central Statistical Organization of India has been calculating the country’s gross domestic product. We can measure your academic performance in relation to other students by the percentage of the marks scored by you. Similarly a country’s economic performance has been measured by indicators of national income such as GDP or GNP. Additionally, it is crucial to measure national income for a number of reasons, such as making predictions about how the economy will develop in the future,

16.1. Meaning
National Income is nothing but the aggregate money value of all goods and services produced in a country in a year. It can also be viewed as income distributed among the factors of production in the form of rent (to land), wages (to labour) interest (to capital) and profits (to entrepreneurs).
According to Alfred Marshal National Income is defined as the labour and capital of a country acting on its natural resources produce annually a certain net aggregate of goods and services.
16.1.1. Limitations
• In an economy in which numerous goods and services are produced, it is really a difficult proposition to estimate them correctly to arrive at the national income. Coming to the farming, farmers do retain some part of production for personal consumption and the rest is only marketed. In such a case, the methodology to evaluate the amount of produce not reached the market has not been given.
• Double counting: It implies the same good being counted twice: say, cotton may be counted in agricultural production and the cotton cloth in industrial production.
Marshall approached national income from production end. On the other hand, some other economist approached from consumption end. At the same time this approach in reality poses problems. Consumers who number in millions, consumes the same good at different places, and the estimation of their total consumption is a difficult proposition. Hence, there are problems in measurement of national income.

1.    Thomas Malthus suggested that population growth _____________.

(a) Would eventually lead to starvation and death as it exceeded the land’s potential to produce food

(b) Would lead to strong and better societies

(c) Would grow at a slower rate than land’s potential to produce food

(d) And the land’s potential to produce food would grow at the same rate

2.    Which population growth rate is likely to add relatively more to younger age population (youth effect on size of labour force)?

(a) Larger

(b) Smaller

(c) Uncertain

(d) Population growth rate does not affect the age structure of population

Economics and Reasonability

The four primary economic activities of production, distribution, consumption, and resource management are what we referred to as economic actors or economic agents in Chapter 1. Individuals, small groupings (such as a family or a group of roommates), as well as big businesses like the government or international corporations, can all engage as economic agents. Economics is the study of these actors’ actions and interactions during economic transactions. This chapter examines how people behave as independent economic players. We analyse this subject’s ramifications for economic theory and examine both historical and recent research on it.

Perspectives from History on Economic Behavior

A social science, economics is concerned with people and how we arrange ourselves to meet our wants and improve our well-being. All economic behaviour is ultimately just human behaviour. Even though institutional factors can sometimes appear to gain control (as evidenced by some bureaucracies’ propensity to grow over time), if you look closely at economic outcomes

Introduction

Mangroves are the special group of plants or the ecosystem in a holistic scence on the inter-tidal coastal areas, edges of the islands and major estuarine mouths. The frequently tidal inundated forests on coastal areas, wetlands and the inter-tidal zones of sheltered bays or shore lines, estuarine mouths, sides of the tidal creeks, backwater, lagoons, marshes and mud-flats of the tropical and sub-tropical regions of the Globe are the major mangrove habitats or zones. Mangrove ecosystem form an important ecological asset and economic resources of the coastal marine environment. These mangrove ecosystem is the most productive ecosystem, which can efficiently fertilize the sea and estuarine water and also physically protect the coastal zone, estuarine mouth from frequent natural calamities and vitally serves as the breeding ground, nursery and grazing place of diverse species of fish, shrimps, prawns, crabs and vast group of other marine and off-shore species.

Nerium (Nerium oleander), commonly known as oleander or Kaner, is an evergreen flowering shrub cultivated for loose flowers, landscaping and religious uses. Its flowers are widely used for garlands and temple offerings, while the plant is valued in landscaping because of its drought tolerance and adaptability to poor soils. The chapter presents its origin, distribution, genetics, botanical description and important varieties. It explains climate and soil requirements, propagation, planting, nutrient management, irrigation, pruning and other cultural operations. Pest and disease management is also covered. Special attention is given to harvesting fully open flowers, postharvest handling and shelf-life improvement. The chapter also discusses yield and the plant’s toxic nature.

Construction of any building, airplane, poultry farm, dairy farm, agricultural business, even a new product are known as projects that require money and time, thus, all projects need to be finished in the least amount of time possible. All projects involve multiple activities, and all these actions need to be logically coordinated and successfully completed within the expected time frame. PERT and CPM are useful techniques for this purpose. PERT stands for Program Evaluation and Review Technique and CPM represent Critical Path Method. These techniques separate projects into various tasks and events and organize them logically in a diagram called a grid. Time estimates are obtained to conduct these different tasks and the total project time is decided based on these estimated times. With the help of these methods, the project can be completed in the given time and it also provides important information about the various activities related to the project and the project manager knows the importance of the various activities to which he pays more attention to reduce the time spent on the project.

Network in Project Management

A project network is a graph that shows the activities, duration, and inter dependencies of tasks within our project.

Networking is a crucial aspect of project management that can provide various benefits, including access to new job opportunities, industry insights, and professional development opportunities.

What is network with diagram?

A Brief History of Project Management.

Networks – Introduction, origin and widely used networks
Network is a technique used for planning and scheduling of large projects in the fields of construction, maintenance, fabrication, purchasing, computer system instantiation, research and development planning etc. There is multitude of operations research situations that can be modelled and solved as network. Some recent surveys reports that as much as 70% of the real-world mathematical programming problems can be represented by network related models. Network analysis is known by many names PERT (Programme Evaluation and Review Technique), CPM (Critical Path Method), PEP (Programme Evaluation Procedure), LCES (Least Cost Estimating and Scheduling), SCANS (Scheduling and Control by Automated Network System), etc.
It is a graphical representation of logical and sequentially connected activities and events of a project. Network is also called arrow diagram. PERT (Programme Evolution Review Technique) and (Critical Path Method) are the two most widely applied techniques.

ABSTRACT

Indian agriculture is an economic symbiosis of crop and cattle population. Millions of family dairy farming dominates India’s dairy industry, contributing 62 percent of total milk produced in the country. So, encouraging family dairy farming in rural areas is necessary to increase the milk production at national level and increase the socioeconomic status of landless and marginal farmer. In rural areas there is a major problem of milk marketing. In urban scarcity of quality milk, other side in villages especially faraway from city there is surplus milk and farmers are not interested to rear more dairy animals. Marketing of surplus milk is main problem because milk is a highly perishable item and farmers not having time and also due to less quantity of surplus milk (3-5 liter) they are not interested to go market. For this we can work in group and collect milk at one place from all members and one person go to market for selling of milk. Extra milk can be used to manufacture other milk products like ghee, peda, paneeretc by other member. Some members also engaged in other work like treatment of animals, collect information of different schemes from related offices. While engaging with rural communities, we recognised that village women are the primary caretakers of cattle and play a significant role in dairy farming. As a result, the Village Woman Dairy DevelopmentProgramme - an initiative focusing on empowering village women engaged in dairy farming. Benefits in dairy farming depend on cost of feeding, medicines, labour and income from sale of milk. Milk price is fixed and not in farmers control so we increase the income through reducing the cost of milk production. Approx 70% cost of milk production on feeding of animals. To reduce cost of feeding and medicine we fed balanced ration to dairy animals. Also reducing cost of production by feeding locally available unconventional feeds through total mixed ration feeding and urea mineral molasses block supplementation.