Quick revision list of important economic terms specifically tailored for competitive exams like UPSC, SSC, JKPSC, JKSSB, HPSC, and APSC: I. Basic Economic Terms Economy – System of production, distribution, and consumpt…
📘 Economic Models Used in Indian Five-Year Plans Five-Year Plan Year Economic Model Used Key Features / Focus 1st Plan 1951–1956 Harrod-Domar Model Focus on agriculture, irrigation, and price stability 2nd Plan 1956–1961 Ne…
ChatGPT said: 📘 Economic Planning in India – Summary Notes ✅ Definition Economic Planning : A process where a central authority (like the government) plans and controls economic activities to achieve certain goals (growth, equ…