May I help you ?

In this world where everyone is busy with their own work you will rarely find someone who can help you. But the counterfact is that everybody wants someone who can help them and listen to them.In this busy world you need someone who can put an ear to your word or listen to you sincerely even if he can not short out your problems but listening to it makes you feel easy and relaxed.
                                          So what I want to say that you may not have the solution to everyone's problem but talking politely with people and hearing to them sincerely will do a lot of good to them.
                                    I give you an example one Mr Jaiprakash ji lives in my apartment, I met him yesterday in the basement after exchanging warm wishes I asked him about his health and he said he is under treatment for his eyes and was injected in his both eye as his ratina is not well.I must tell you it is very painful. I just wished for a fast recovery and these words added to his satisfaction as without doing anything I made him feel a little better and he said son I did not shared this with anyone in this apartment but I felt easy to share it with you and he went on sharing his yesteryears memories with me as how he joined his first job to where he did part time job to where he is working right now after retirement.
                                              So you can clearly see that only listening carefully to anyone can do a lot of good to them and without doing anything you can make someone relax and cheerful.
                                     But I suggest you not to stop here, if you can help someone more by putting some effort like giving some financial help or putting some physical effort then you must do it and do it for the shake of humanity, to save humanity and always ask someone "May I help you?".

INFLATION

Inflation means the general level of prices is going up, the opposite of deflation. More money will need to be paid for goods (like a loaf of bread) and services (like getting a haircut at the hairdresser's). Economists measure inflation regularly to know an economy's state. Inflation changes the ratio of money towards goods or services; more money is needed to get the same amount of a good or service, or the same amount of money will get a lower amount of a good or service. Economists defined certain customer baskets to be able to measure inflation. There can be positive and negative effects of inflation.

Reasons for expansion 

At the point when the absolute cash in an economy (the cash supply) increments too quickly, the nature of the cash (the money esteem) frequently diminishes. Market analysts by and large think that the expanded cash supply (financial expansion) causes the cost of products/administrations cost to build (value swelling) over a more extended period. They differ on causes over a more limited period. 

The Demand-Pull Expansion 

The Demand-Pull swelling hypothesis can be said basically "an excess of cash pursuing to a couple of merchandise." at the end of the day if the desire of purchasing products is becoming quicker than the measure of merchandise that has been made, then, at that point costs will go up. This is in all probability occurs in economies that are developing quickly. 

At whatever point an item is purchased or sold past its genuine cost for its value, then, at that point Inflation of cash happens. On the off chance that an organization, for instance, makes a limited quantity of merchandise which are sold over a high amount then it needs to build the costs so it can deal with the item amount. 

Cost-Push expansion 

The Cost-Push swelling hypothesis says that when the expense of making merchandise (which are paid by the organization) go up, they need to make costs higher to make benefit out of selling that item. The greater expenses of creating products can incorporate things like specialists' wages, assessments to be paid to the public authority or greater expenses of crude materials from different nations. 

Concept of demand

The initial step to learn Economics is to know the concept of demand. So demand refers to the willingness of individuals to buy some goods and services. hence the willingness and ability to purchase some goods make the demand effective.

Demand is the amount of goods that people want to buy at a given price. Prices go up when supply is less, and demand is high. it refers to the law of demand whereas price increases, demand decreases, and vice versa showing an indirect relationship between quantity demanded and price. This is known as the law of demand which assumes that the consumer will want more and more. Demand forecasting tries to predict how demand will change in the future.

Kinds of demand:- there is various kind of demand. some of them are given here -

Price demand:-It is a demand for different quantities of goods or services that consumers want to purchase at a given price and time period and consider other factors, such as prices of the related goods, level of income of consumers, and consumer preferences, remain constant.

Income demand:- It is a demand for different quantities of goods or services that consumers want to purchase at different levels of income assuming other factors remain constant.

Cross demand:-It refers to the demand for different quantities of goods or services whose demand depends not only on its own price but also on the price of other related goods or services.

Individual demand:- This classification is based on the number of consumers in the market. In dividual demand refers to the number of goods or services demanded by an individual consumer at a given price at a given time period.

Market demand:-It is the aggregate of individual demands of all the consumers for goods over a period of time at a specific price while other factors are constant.

Determinant of demand:-

Price of product (The higher the market price the more a farmer will supply.)

Substitute goods(The price of goods that are related to a specific good.)

The cost of production inputs (Higher input costs mean higher production costs and vise visa.)

Taste or preference of consumers (Example if skinny jeans become fashionable, the demand increase.)

Consumer expectations (Most often, this refers to whether a consumer believes prices for the product will rise or fall in the future.)

Supply:-

Production is the process of turning inputs into the output of goods or services. The role of a firm is to organize scarce resources to satisfy consumer demand in a profitable way. Supply is defined as the willingness and ability of firms to produce a given quantity of output in a given period of time, or at a given point in time, and take it to market. Not all output is taken to market, and some output may be stored and released onto the market in the future.

Supply can be measured for a single factor of production, for a single firm, for industry, and for the whole economy.

Determinants of supply:-

• The price of the product is the starting point in building a model of supply. The supply model assumes that price and quantity supplied are directly related.

• The availability of factors of production, such as labour or raw materials, can affect the amount that can be produced and supplied. 
• Changes in cost will alter a firm’s calculation of how much to supply at a given price
• Changes in the weather can have a considerable impact on the ability to produce certain products, like farm produce and goods. This tends to affect the primary sector more than manufacturing.
• Taxes on products, such as value added tax (VAT), have a direct effect on supply. 
• Subsidies are funds given to firms to enable them to increase their supply or to reduce the price of their product to the consumer. 

The shape of the earth presents some trouble in positioning its surface features, as there is no point of reference from which to measure the relative positions of other points. henceforth, a network of imaginary lines is drawn on a map or a globe to locate various places. The spinning of the earth on its axis from west to the east provides two natural points of reference, i.e. North and South Poles. They form the basis for the geographical grid. A network of horizontal and vertical lines, which are called parallels of latitudes and the meridians of longitudes is drawn for the purpose of fixing the locations of different features.

Level lines are attracted corresponding to one another in the east-west heading. The line drawn halfway between the North Pole and the   South Pole is known as the equator. It is the biggest circle and partitions the globe into equivalent parts. It is additionally called a great circle. All the different equals get more modest in size, with respect to their distance from the equator towards the shafts and separation the earth into two inconsistent parts, additionally alluded to as the little circles. These nonexistent lines running east-west are normally known as the equals of scope.  The upward lines running north-south, join the two poles. They are known as the meridians of longitude. They are separated farthest at the equator and combine at a point at each post.

An international organization which is also known as an intergovernmental organization is a kind of organization established by an instrument governed by international law or by a treaty and possessing its own international personality.

The World Bank- [1944]

• It works in every major area of development. it provides a wide array of financial products and technical assistance and majorly helps underdeveloped countries. 

• India is one of the founder countries of the world bank that prepared the agenda for the Bretton Woods conference in 1944.

• Headquarters- Wahington D.C 

• President - David R. Malpass

International Monetary Fund (IMF)- [27th December 1945]

• its primary purpose is to ensure the stability of the international monetary system.

• India is one of the original members of IMF among 189 countries.

• Headquarters- Washington D.C 

• Managing Director- Kristalina Georgieva

World Trade Organization (WTO)- [1 January 1995]

• provides a forum for negotiating agreements aimed at reducing obstacles to international trade and ensuring a level playing field for all.

• Afganistan became the 164th member on 29 July 2016 and India is also its member.

• Headquarters- Geneva, Switzerland

• Director-General - Roberto Azevedo

Bank for International Settlements (BIS)- [17th May 1930]

• it acts as a bank for central banks by serving them in pursuit of monetary and financial stability, to foster international cooperation.

• it has 60 members of which India is one of them.

• Headquarters- Basel, Switzerland.

• General manager- Agustin Carstens

World Economic Forum ( WEF)- [1971]

• it tries to shape global, regional, and industry agendas through engaging the foremost political, business, and other leaders of the society.

• provides a platform for the world's 1000 leading companies to shapes a better future.

• Headquarters- Cologny, Switzerland.

• Executive Chairman- Klaus Schwab

The Asian Development Bank - [19 December 1966]

• As a multinational development finance institution, it provides loans, technical assistance, and grand to help developing member countries reduce poverty and improve the standard of living of their people.

• India is a founding member as well as the fourth-largest shareholer.

• Headquarters- Mandaluyong, Metro Manila, Philippines

• Head- Masatsugu Asakawa.

New Development Bank- 

• During the sixth BRICS summit in Fortaleza, Nations signed the Agreement establishing the New Development Bank in 2014.

• it provides technical and financial assistance to achieve environmental and social sustainability.

• Being a founding member of NDB, India has 20 % shareholding and 20% of voting rights.

• all BRICS nations are members of NDB.

• Headquarters- Shanghai, China

• President- Marcos Trayjo.

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Also read- HOW ONLINE TUITION CLASSES IS SAFE DURING THIS PANDEMIC?