Economics, commercial and trade terms page-3

1.     Malthusian theory of population 

according to this theory the food supply increases in arithmetical progression , while the population increases in geometrical progression leading to over-population ultimately  forces to check growth of population become very necessary in the way Malthus has been proved wrong because in spite of the steep rise in population. The availability of food grains has not diminished.

2.     mixed economy 

a mix economy is one in which both public and privet sector have an important role to play . india has opted for a mix economy with a proviso that a few industrial field of vital national important have been reserved for the public sector.

3.     one rupee note 

one rupee currency are issued by government of India and have the signatures by of secretary minister of finance.

4.     other  notes 

currency notes other then rupee one ( 2,5,10,20,50,100,1000) are issued by RBI and have signatures by RBI governor.

5.     overhead cost 

the cost over and above the fixed costs such as machinery plants and land.

6.     rebate 

it is the refundable part of payment made or commission say towards insurance policy or the link.

7.     royalty 

it is a lump sum payment for certain kind of ownership or privilege e.g royalty paid for extracting oil fom oil field or mining coal from a coal mine , or a share of the sale price of book , paid by the publisher to the author.

8.     VAT 

value added tax , introducing in India  w.e.f  1-4-2005, primarily invented by France. 

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