It means that ignorant people usually have a lot to say. When you learn more and more about life, you realize that life is so huge and complex that you really don't know much about it at all. But foolish people think they know everything and think they have to educate everyone on their opinion.
The most important disadvantage of globalization is the increasing number of the loafer. After the industrial revolution, industry gravitated some particular countries. Because of that, these countries became a power in industry. However production decreased and so unemployment was raised in the other countries. Another reason of the unemployment rise is that the need of … Read more
The main features of underdeveloped countries are:(1) Very low income,(2) Meagre use of natural resources,(3) Lack of capital,(4) Predominance of agriculture,(5) Colonial type of international trade,(6) High population pressure,(7) Underdeveloped money market,(8) Immobility of factors,(9) Weak human factor,(10) Dual economy.
Difficulties of various kinds are generally faced in the measurement of national income. These difficulties may be classified into two categories: (I) Conceptual or Theoretical Difficulties and (ii) Practical Difficulties. The theoretical difficulties appear in almost all countries but the practical difficulties are generally witnessed in the underdeveloped countries like India.Conceptual difficulties- (1) Determination of … Read more
The chief purpose of estimating national income is that it describes the structure of the economy and the composition of its aggregate income, its origin and its distribution. If such estimates are regularly computed year after year, we can assess the trends in the country's economic … Read more