National income portrays itself as national product, national expenditure and national income, National Product, national expenditure and national income thus form a circular flow and make it possible to measure national income in three different ways, namely, as a sum of incomes derived from economic activities
The advantages and merits concerning to the financial matters of the Muslims are called economic advantages. Following are the economic advantages of zakat or Economic benefits of zakat.
Following are the main characteristics of socialism. Public ownership Planned economy, Classes of society, State is responsible for basic necessities of life, Equal opportunity to all, Non-existence of competition and limited choice of consumer products, Pricing mechanism
External economies of scale are not related with the ability, skill, management, education and experience neither these are linked with a specific business. All the businesses enjoy these economies equally. These economies arise as a result of the expansion of the industry as a whole
"Internal economies are those economies in production which occur to the firm itself when it expands its output or enlarge its scale of production".
The growth of capital depends upon many institutional factors as savings, foreign loans, foreign investment as well as political and financial conditions of the country.
Following are the main measure which can be suggested for the effective control of business cycle fluctuation. 1. Monetary Policy 2. Fiscal Policy 3. State Control of Private Investment 4. International Measures to Control of Business Cycle 5. Reorganization of Economic System
Market economy and planned economy are two different economy systems. An economic system is a set of institutional arrangements whose function is to employ most efficient scarce resources to meet the ends of society. Both the economic systems have to answer the basic questions of economy i.e. what to produce,