Economic Swat

  Utility:-  Economics Utility is the level of satisfaction that a consumer derives by consuming a product or service. It measures the total satisfaction of the consumer. Types of Utility:- There are four main types of utility- 1- Form  2- Time  3- Place  4- Possession 1- Form :- Form refers to the use of goods or product according to the situation or the condition of the consumer's want. E.g. - If consumer want table and company providing him wood then it reduces consumer's satisfaction because he wanted wood in the form of table and company provide him wood. 2- Time:- Time refers to the availability of goods or product when consumer purchase it. E.g.- In rainy season, consumer wanted an umbrella and the umbrella is not available in the market at that time then it reduces the consumer's satisfaction. So, time is a important type of utility. 3- Place:- Place refer to the location of goods or service and if the location of goods and services are convenient for th...

  Central Bank :- A central bank is a monetary institution, it controls the supply of money and provides financial services. Central bank help to prevent inflation, keep unemployment low and stabilize the nation's currency. Central bank has the power to regulate commercial bank. Functions of Central Bank :- (1)- Control the money supply through open market operations (2)- Control inflation and base rate (3)- Ensure there are sufficient foreign-exchange reserves (4)- Maintain reserve requirements with private banks. Objectives of Central Bank :- (1)- Full Employment (2)- Price Stability (3)- Economic Growth (4)- Exchange Rate Stability (5)- Financial Stability

  Unemployment :- It is a situation where a person is able and willing to do work but do not get work at the existing wage rate. Types of Unemployment :- 1- Disguised Unemployment 2- Seasonal Unemployment 3- Open Unemployment 1- Disguised Unemployment :- It refers to a state in which more people are engaged in work than its really need. 2- Seasonal Unemployment :- The Unemployment occurs at certain seasons of the year is known as seasonal unemployment. 3- Open Unemployment :- It refers to that economic phenomenon in which person are able and willing to work at the prevailing wage rate but fail to get work. Causes of Unemployment :- 1- Population Explosion 2- Slow rate of Economic Growth 3- Slow growth of Industries 4- Defective Educational System 5- Lack of Proper Planning.