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What is Mixed Economy | Types | Capitalist and Socialist Economy

 Mixed Economy Mixed economy is an economy which combines the element  of both the capitalist and socialist economies. It attempts to combine the best features of both capitalism and socialism while excluding the Demerits of Both.   Two types of Mixed Economy      1. Government does not directly undertake Production activity. This exists in most of the developed countries such as the USA, UK, etc.     2. Where Government not only Regulates the Private Sector, But also Participates in the Production activities.     Features of Mixed Economy Co - existence of Public and Private Sectors. Features of both Capitalism and Socialism. Government regulates and controls the Private Sectors. Price mechanism Profit Motive. Capitalist Economy   In Capitalist  form of economic system the means of Production and Distribution are Privately own,  and Production is guided Largely through Operation of markets.    ...
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What is Mixed Economy | Types | Capitalist and Socialist Economy

 Mixed Economy Mixed economy is an economy which combines the element  of both the capitalist and socialist economies. It attempts to combine the best features of both capitalism and socialism while excluding the Demerits of Both.   Two types of Mixed Economy      1. Government does not directly undertake Production activity. This exists in most of the developed countries such as the USA, UK, etc.     2. Where Government not only Regulates the Private Sector, But also Participates in the Production activities.     Features of Mixed Economy Co - existence of Public and Private Sectors. Features of both Capitalism and Socialism. Government regulates and controls the Private Sectors. Price mechanism Profit Motive. Capitalist Economy   In Capitalist  form of economic system the means of Production and Distribution are Privately own,  and Production is guided Largely through Operation of markets.    ...
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Location: Shamli, Uttar Pradesh 247776, India
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What is Liberalisation, Privatization, Globalization | Definition and Process

 Liberalization Freeing economy from Government Controls, Regulations. Private Sector Grow Faster if it is Liberated.   Process of Liberalization The end of License Raj. Freedom from Government clearance. Freedom to public sector to access the capital market. corporatisation of Public sector Units. Freedom to corporate to buy back shares. Increase in the environment ceiling of small- scale Enterprice. Liberal tax structures for select sectors. Permission to banks to enter insurance sector. Relaxation in administered price mechanism. Freedom to transfer license and assets. Removal of restrictions to move Products. simplified and rational tax structure Tax exemptions, concessions and holidays especially for new ventures. Privatization Privatization Occurs when a government owned Business or Property becomes owned by a Private, non- Government Party.   Process of Privatization  Selling Equity Decentralization of Nationalised Equity ( Enterprices ) Giving Franchise Royal...
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Location: Shamli, Uttar Pradesh 247776, India
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Conciliatory and Judicial Role of Government

 Conciliatory and Judicial Role of Government  The important essentials of Socialism are that all great industries of the land should be Publicly or Collectively owned and they should be Conducted ( in conformity with a national economic Plan ) for common Good instead of Private Profit.  Open Economy  The concept of Open Economy is based on the Philosophy of Faith in the Market forces and Freedom of economic Enterprise. The changing economic face of world necessitates that India keep Pace with the changing Trends. The role of the Government was to Provide a judicial and legal system for the growth of free Enterprises. The Step forward liberalization, Privatization and globalization highlight the Conciliatory and Judicial role of the Government. The three Principles -  Liberalization , Privatization, Globalization Liberalization Freeing Economy form Government controls, regulations. Private sector grow faster if it is liberated. Privatization Privatization Occurs...
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Location: Shamli, Uttar Pradesh 247776, India
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Merits and Demerits of Capitalist Economy

 Merits of Capitalist Economy Incentive of Work Efficient use of resources ( Resource are always limited ) Flexibility and Adaptability Automatic Working Economic Freedom - No Restriction and Consumption and Production. Increase in Production and Standard of Living. Demerits of  Capitalist Economy  Inequality of Income Class Conflict Economic Instability Economic Waste What is Capitalist Economy In Capitalist  form of economic system the means of Production and Distribution are Privately own,  and Production is guided Largely through Operation of markets .     The ideology of Capitalism was expressed in Adam Smith's wealth of Nations   ( 1776 ) and Smith's Free - market theories were widely accepted in the 19th century. It is Prevalent in many countries, Viz, the USA, U.k, France, Japan, Australia and the most of the countries in western Europe.   To Know about Feature of Capitalist  Economy  CLICK -   https://technic...
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What is Capitalist Economy | Features of Capitalism

 Capitalist Economy In Capitalist  form of economic system the means of Production and Distribution are Privately own,  and Production is guided Largely through Operation of markets .     The ideology of Capitalism was expressed in Adam Smith's wealth of Nations   ( 1776 ) and Smith's Free - market theories were widely accepted in the 19th century. It is Prevalent in many countries, Viz, the USA, U.k, France, Japan, Australia and the most of the countries in western Europe.   Features of Capitalism Free Private Enterprises : Free Economic Liberty             ➡ Right to own Property ( Land, Machinery, etc. ) Freedom of Consumption and Production  Market Mechanism              ➡ There is No Government Intervention to fixed a Price at a Particular rate.              ➡ Price are automatically F...
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Location: Shamli, Uttar Pradesh 247776, India
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Directive Principle of State Policy ( DPSP )

 Directive Principles of State Policy ( DPSP ) Directive Principles Pertaining to economy :  To Promote the welfare of all the People.          ➡ To minimize the inequalities of  income.           ➡  To eliminate inequalities among individuals and group.           ➡  To Secure adequate means of  livelihood for all citizens.           ➡  To ensure Distribution of material Resources of common good.           ➡  To ensure equal pay for equal work for both men and women.            ➡   To ensure health and Strenght of workers.           ➡   To Provide Equal opportunities to all citizens.           ➡   To Provide access to legal justice to all citizens.           ➡   To ensure light to w...
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Location: Shamli, Uttar Pradesh 247776, India
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Salient Provisions Of the Indian Constitution Pertaining to Business and Economy | Indian Constitution and Business

 Indian Constitution and Business India's Economy Draws its Sustenance from the Provisions of Indian Constitution. The Socio- Economic Objectives are clearly enshrined in the Preamble to the Constitution, Fundamental Rights and Directive Principles Of State policy.  Fundamental Rights Right to Equality Right to Freedom Right against Exploitation Cultural and educational Rights Right to Constitutional Remedies    Note - The Right to Property is no Longer a Fundamental right; it has been retained as a constitutional Rights. The Following are the Salient Provisions of the Constitution Pertaining to Business and Economy. Salient Provisions Of the Indian Constitution Pertaining to Business and Economy Changing Profile to Indian Economy : The Government Embraced the twin Principles of the Socialist Philosophy and political Democracy as an Ideal model for the emerging Independent India. The economic Policies From 1950 + 1970 were based on this model.       ...
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Location: Shamli, Uttar Pradesh 247776, India
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What is Indian Constitution and Business

 Indian Constitution and Business India's Economy Draws its Sustenance from the Provisions of Indian Constitution. The Socio- Economic Objectives are clearly enshrined in the Preamble to the Constitution, Fundamental Rights and Directive Principles Of State policy. The Following are the Salient Provisions of the Constitution Pertaining to Business and Economy. Next we will discuss Salient Provisions
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Location: Shamli, Uttar Pradesh 247776, India
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Salient Points of the Indian Constitution

 Salient Points of the Indian Constitution The economic Powers of the union Government and the state Government are clearly laid Down. The People of India are assured social, economic and Political issue, Liberty, Equality, of Status and Opportunity and fraternity. By the amendment of 1976, India Become a Socialist state and adopted socialist Patter of economy. There is a scope for state intervention in the Functioning of economy.   Fundamental Rights Right to Equality Right to Freedom Right against Exploitation Cultural and educational Rights Right to Constitutional Remedies    Note - The Right to Property is no Longer a Fundamental right; it has been retained as a constitutional Rights.
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Location: Shamli, Uttar Pradesh 247776, India
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What is Political Science | Political System - Meaning, Types

 Political Science A Political system can be defined as A Complete set of Constitution Interest Group such as Political Parties, Trade Unions, Lobby as well as the relationship Between those institution and norms and rules that Govern their Functions ( Constitutions Election Laws ).    Political System - Meaning A Political System Consists of the formal and informal Structures which manifest the state's Sovereignty  over a territory and People.   A state have many Different Political system over time, Political system draw their Policies Through their ideologies.   Therefore, these ideologies are known as 'Statist'   Political Power is manifested by varied Political System as is apparent from the system  Prevalent in the US, Japan, France, China, Spain, Jordan, these system are Different from one another in many ways, yet they all Share same Commonalities. Political System - 3 Types Liberal Political System - Open system, which Grant almost Comple...
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What is economic system

Economic System The economic system of the government Prevailing in the region where the business exists as well as the Political economics Scenario of the world at large have a bearing on commerce and business.   International Business Rules Currency convertibility Forex rules The second world war that bought many nations to the brink of economic ruin faulted the world and bought about a shift  in the basic tenets of of economic theory. It was widely agreed that a good economic Policy must be based on the three Points. We need to Provide welfare benefits to people who are deprived of regular income because of some reason or the other The desirability of maintaining a judicious balance between Public and Private Sector. ( This implies the crucial sector must be kept under Government Control ). The necessity to Provide a macroeconomic environment which would ensure the Growth of Business, Trade, Commerce and Economy of the Nation.  The two most Powerful institution in a So...
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Location: Shamli, Uttar Pradesh 247776, India
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What is Political Environment

Political Environment Political environment is a set of complex over shifting and interacting forces that    exert a direct influence on Business organization. The Framework of governmental    economic ideology, Policies, regulations and Legislation as well as Government    relationship with business organization from a part of political business Environment.  Political environment is one of the is one of the most Powerful factors the viability and substance of a business venture.  The type of Government in the area. Ideology and the Policies of ruling Party. Provisions laid down for Business. Rules and Regulation, Labor laws.    
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Location: Shamli, Uttar Pradesh 247776, India
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The main elements of a society that directly influence the business in certain region

 The main elements of a society that directly   influence the business in certain region are : Family Education Religion Professionalism Ethical Principles and rules of conduct - Business ethics refers to the system of moral principles and rules of conduct applied to the business. Business and Culture : Culture is the software of mind - the social programming that runs the way we think , act and perceive ourselves and others.           It implies that culture is a learned behavior and hence can be changed.    The elements of culture  Language Ideals Values Religion and Beliefs Social collectives status and roles Cultural integration Preferences
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What is Cultural Shock | Cultural Transmission

 Cultural Shock Environmental changes often Produce cultural SHOCKS. This includes a feeling of anxiety, Confusion and insecurity caused by a new strange environment. Cultural Transmission The elements of culture are transmitted among the members of the culture, from one generation to the next and to the new members admitted into culture.
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What is cultural Adaptation

 Cultural Adaptation The social system may be a small group such as family, or a larger group such as an organization , or the entire society like a tribal society. Adaptation is essential for survival. This type of food, clothing, type of climate and weather conditions are from of adaptations.  
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Location: Shamli, Uttar Pradesh 247776, India
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What is Organisation of culture

 Organization of Culture The 'term' organization of culture refers to the social structure and the integration of traits, complex and patterns that make up the cultural system. Stratification, i.e. differentiation based based on criteria such as    age sex caste occupation education income  etc
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Effect of Society on Business

 Effect of Society on Business Every Business works in a society, so society's different factors like family, educational Institutions and religion affect business. Now these may different from one country to another, from one state to another or from one city to other regions. Parts of the Society are: Families Educational Institutions Religions   Professionalization A Professional is one who possess Systamatic Knowledge and skills to Perform certain responsible functions, with authority and ethics.   A Professional has enormous responsibilities since he/she cannot use knowledge, skill and authority unscrupulously.    Business Ethics  Business ethics refers to a system of moral Principles and rules of conduct applied to business.   A business should not conduct itself in a way detrimental to the Intrests of Society.   A Profession is bound by certain ethical Principles and rules of conduct , which also are a part  of Professionalization....
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Location: Shamli, Uttar Pradesh 247776, India
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What are the changing concept of Business

 Changing concept of Business  OLD BUSINESS : Profit Maximization is Priority. MODERN BUSINESS : A Social institution forming an integral part of the social system. It has a huge influence on the way People live and work. Business can not Isolate itself from the rest of the Society.     Three Significant ideas that related to Society and Business   Values : Mission of the Business as the Social institution.               Example - The nation, region where the business located also impact the value of particular business.  Viability : Which drives to live or grow to achieve in the best Possible Way. Public Viability : How People know your Organization and the function you do, are the people are well informed about it.             
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Location: Shamli, Uttar Pradesh 247776, India
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What is Business and Society

Business and Society   Social systems and business environment are related to one another.  The type of Products that a firm Produces, the way the business Should be organized, marketing strategies to be employed, and the values and norms that it should follow, are all influenced by the way the business functions. The Way the Business functions, its innovations and products offered affect society and influence the social attitude, values and customs, etc.        
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Location: Shamli, Uttar Pradesh 247776, India
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What is Socio-Cultural Environment

 Socio - Cultural Environment Business Operates in the social system and is influenced by the lements of society. Society in turns is also affected by business. Great Companies help create a Prosperous Society. The Cultural dimensions of Society form Part of the Social environment. The Cultural aspects are Important for the aspects of Business like Product Development, Promotion, Business Negotiations, Human Resource Management and Marketing of the Product. Next we will Discuss Business and Society 
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Location: Shamli, Uttar Pradesh 247776, India
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Popular posts from this blog

What is Mixed Economy | Types | Capitalist and Socialist Economy

 Mixed Economy Mixed economy is an economy which combines the element  of both the capitalist and socialist economies. It attempts to combine the best features of both capitalism and socialism while excluding the Demerits of Both.   Two types of Mixed Economy      1. Government does not directly undertake Production activity. This exists in most of the developed countries such as the USA, UK, etc.     2. Where Government not only Regulates the Private Sector, But also Participates in the Production activities.     Features of Mixed Economy Co - existence of Public and Private Sectors. Features of both Capitalism and Socialism. Government regulates and controls the Private Sectors. Price mechanism Profit Motive. Capitalist Economy   In Capitalist  form of economic system the means of Production and Distribution are Privately own,  and Production is guided Largely through Operation of markets.    ...
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What is economic environment

 Economic Environment A company must work within the economic framework of the country. The economic framework is the level of income in the country, the external conditions that affect the economy, and the economic Policies that affect the economy . The economic environment affects the way business operates. Two Types Of Economics Environment Macroeconomic environment Microeconomic environment Macro factors include: Employment/unemployment Income Inflation Interest rates Tax rates Currency exchange rate Saving rates Consumer confidence levels Recessions Micro factors include: The size of the available market Demand for the company’s products or services Competition Availability and quality of suppliers The reliability of the company’s distribution chain (i.e., how it gets products to customers) While companies often can’t control their economic environment, they can evaluate economic conditions before choosing to enter a particular market or industry or pursue other strategies...
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What is Aggregate Demand

 Aggregate Demand AD( Aggregate Demand ) is the total Demand for Final goods and services in the economy at a given time and Price level.  This is the demand for Gross Domestic Product of a company. AD = C+I+G+( X-M ) Where,           C = Consumer Expenditure on Goods and Services           I =  Capital Investment           G = Government Spending           X = Exports of the Goods and Services           M = Imports of the Goods and Services           X - M = Net Export 
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