employment

Proprietorship Advantages, Merits and Importance

One man’s business is best in the world if that one man is big enough to manage everything.

Meaning of Sole Proprietorship

Sole trader-ship (proprietorship) is that form of business organization whose owner is just one person, who is called the sole trader. This person invests capital in the business and is solely responsible for all the profits and losses of the business. The same person is the manager and organizer of the business.

Advantages, Merits, and Importance

Following are the merits (or importance) of the sole proprietorship system
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Agricultural Labor Problems in India

Agricultural Labor

Agricultural labor is that person who works on another land, does not participate in farm management and its maintenance, and receives money or a portion of the harvest in consideration for his service. He neither has any rights regarding the land nor does he have to bear any risk regarding the farm. Briefly by agricultural labor, we mean’ such laborers who “earn their livelihood by working on agricultural farms.”

Definition

According to the Second Agricultural Labor Investigation society

Agricultural labor refers to that person who receives more than half of the income from agriculture. The agricultural labor family refers to that family, whose more than half of the income from agriculture.

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The Poverty Problem in India

Meaning of Poverty

Poverty refers to the social condition in which a part of the society is unable to fulfill its basic requirements. When a big portion of the population is deprived of the minimum living standard and survives only on the survival level, then it is said that poverty is widely spread in the population.

The Problem of Poverty in India

India is recognized as a poor country even after around 70 years of independence. Especially in the Rural Sector of India, the condition is worse. Though during the planning periods the national income of-India and the per capita income has increased, social welfare has increased, literacy level has risen and people have been able to fulfill more and more of their requirements but poverty (and especially Rural Poverty) is still present in its alarming form.
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Keynesian Theory of Deficiency, Demand and Employment

Introduction to Keynesian Theory of Employment

John Maynard Keynes

Keynesian Theory was given by Keynes when in his volume “General Theory of Employment, Interest, and Money” had not only criticized the Classical Theory of Employment but had also analyzed those factors that affect the employment and production level of an economy. Most of the modern economists agree with the concept of Keynes. The Keynesian Theory of Employment is a product of the world-wide depression of 1931-36. Due to this depression, unemployment spread in all independent capitalist economies. Keynes analyzed that situation of unemployment and tried to find the reason and solution to that problem.Read More »Keynesian Theory of Deficiency, Demand and Employment