Concept of positive economics.

According to J.N.Keynes-"positive science may be defined as a body of systematised knowledge concerning what is;a normative or regular science as a body of systematised knowledge relating to
criteria of what ought to be"In line with this A.asimakopuious says-"positive economics can be defined as a body of systematised knowledge concerning what is;while normative economics tries
to develop criteria for what ought to be."
positive economics is concerned with the description of economics events.It formulates the theories to explain them.It tries to follow scientific principles
and devise objectives tests of these theories.the ethical judgements have stronger role in normative economics.Normative economics focuses on personal value judgements.
According to Davide Begg
and other -"positive economics deals with objectives or scientific explanations of the working of the economy."
In brief positive economics studies how the economics actually behaves.The aim of positive economics is to explain how society makes decisions about consumption,production and
exchange of good and service.In positives economics,there is no scope for personal value judgements.We concerned with propositions of the form such as if is this changed,that will
happen.In this regard,positives economics is similar to the natural sciences such as physics or geology.As for example,when the governments imposes tax on goods,the price of those goods will
rise.All agree this.Likewise,favourable weather condition will increase grain output and reduced
the price of grains. This statements is also agreed by all.Many propositions in positives economics have widespread agreement among economics.

Subject matter of economics.

According to definitions,economics studies those actions of man connected with we aitch.It studies
man's ordinary business of life.It teacher how to use limited means to satisfy unlimited wants.The
subject matter of economics can be viewed are a continuous circle of unlimited wants.efforts and
satisfaction .
People have numerous wants.The numerous and various types of wants give rise to efforts.Everyday is involved in some type of economics activities.Which may be termed as efforts for example. A dancer dances in a disco cheque,a farmer work in field,a teacher teaches in a school or college,a manager work in a company.All those activities yield wealth as money.The wealth is
spent for the satisfaction of wants arise again efforts are again made and satisfaction are again derived as shown the figure below.
On account of this,economics is treated as the study of wants,efforts and satisfaction.In economics we studies how goods and service are produced,consumed ,exchanged and distributed Hence,consumption,production,exchange,distribution and public finance are main branches of economics.The topics covered by these branches are as follows .

Characteristic of developing countries.

First of all is proper to be clear about the meaning of the term developing countries. Various alternative names are used to indicated to economically back ward countries. such as underdeveloped countries,less developed countries(LDCS),third world countries
and developing countries.
The international organization including the world bank use the term developing countries which have been in common use.The term third world denote not allied with either of the two other world;the capitalist countries and the communist countries.The first use of the term third world is often credited to the late Indonesian president Sukarno who use the term on April 18,1955 at the opening of the banding conference.The poorest countries of the world are termed as least developing countries and even fourth world countries.
A developing countries is one where the process of economic development has started is not completed.In such country there is low rate of economic growth and high rate of natural and human resourced the started of people is miserably low.

Concept of economic deveploment.

Economists have defined economic development in various ways.Hence,it is difficult to give accurate and universally acceptable definition.Prior to1970s,economic development was seen as
the increase in GNP per capital,which is obvious from fallowing definition.
In the option of Arther Lewis"economic development means the increase in per capital production".P.A. Bran,defined economic development as an increase over time in per capital output of material goods.
In the words of Gerald M.Meier-"economic development is the process whereby the real per capital income of a country increases over a long period of time subject poverty does not become more un equal".
There is change in this view recent years.from 1970s onward the term economic development is broadly defined to include non-economic factors called human development beside income.

Economic resources.

The first basic question of economics is 'how much is produced?.'The answer to this depends on the resources available to produce commodities which satisfy wants and on how efficiently the resources are used.economists divide resources into four categories-land,labour,capital and internship a brief introduction of these resource has been presented here.
land includes everything commonly called natural resources. It included the surface of the earth other resources provided by nature
such as minerals,waterfalls,river,forest and so on.Some resources are non-renewable.It they are used now,they will not be available in future such as oil and coil deposits.

Scarcity and choice.

• The heart of economics is to solve economic problem.the economic problem arises from two inter-
• related facts.
• Men have unlimited wants to accuse goods and service.human wants rater to all the goods and services that individuals desire.these wants very among different people. however,human wants are always greater than the goods services available to satisfy them.
• The economic resources are are needed to produce goods and services.economic resources refer to the factors or their means of protecting the goods such as land,labour and capital .These resources are available in limited quantity with society.this is the basic economic problem.
  

Basic economics issues.

• economists are interested in people's living standard i.e. in their material well-being.economists assume that people in have certain wants.They study how particulars societies are organised so at satisfy people wants.
• Wants are unlimited.most of us want to have goods we do not have now and more of these we do have,such as good building,comfortable cars,beater food,better cloth,etc.The country's ability to satisfy wants depends on.
• How much is produced,
• How many people are these to consume what is produced,and
  
• How production divided up among those who wish it. The nations total output how is produced.what is produced is called commodities.Goods and services together are called commodities.

Total output divided by the number of people available to consumed it determis averages output per person,which is sometimes called per capital output .It determine the country's averages stander of living.How evenly output is divided is concerded with the distribution of living stander among the people in society.Thus,the three basic question of economics or economics problem .

concept of monetery policy

Monetary policy includes all monetary decisis and measures irrespective of whether their aims are monetary as non-monetary,and all non-monetary decisis and measures that aims at affecting the monetary system.
Policy employing the Central bank's control of the supply of money as an instrument for achieving the objects of general economic policy.
monetary policy is the best policy in our economic.monetary policy is the exercise of the central bank's control over the money supply
as an instrument for achieving the objectives of general economic policy.
As result monetary policy
is a must important part of our economics.Say's"time is key of success"as same monetary policy is the key of economy.

A trade cycle

A trade cycle is composed of good trade characterised by rising prices and low unemployment
percentage, alternating with priors of bad trade characterised by following price and high unemployment percentages.
A cycle consists of expansions occurring at about the sometime in
many economic activities,followed by similar general recessions,contractions and revivals which
merge with the expansion phase of the next cycle,this sequence of changes is recurrent but not
periodic.As a result trade cycle is a very important thing of economic.
for example a man want worn a lot of money then trade cycle support him.
A trade cycle help to make Jase result. as hole if trade cycle is not in owe don't do any thing in time.

Introdution to economics

s.economics is any Major unit and study of personal behave.economics is the backbone of a countryEconomics means economics activities. economics is the study of particulars firm,particulars households,individual prices, wages,income individual industries,particulars commodity because if the economics condition is not well then any country don't be developed.such as AMERICA,CHINA
,AUSTRALIA are developed country's because their economics condition is well.
Macro economics deals not with individual as such,but with aggregates of these quantise not with individual but with national incomes,not with individual price but with the price level,not with the individual outputs but with the national output.
In the economics theory of income,output and employment,theory income and employment,
theory of general price level,theory of inflation,deflation and reflation,theory pf economics growth and macro theory of distribution.