Agro-Finance Lecture-3 some fundamental terms of economics
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Agro-Finance Lecture-3 SOME FUNDAMENTAL TERMS OF Economics Basic Need: Physical things required by a normal and social human being for survival is called basic need like food, cloth, shelter etc. It varies from place to place, time to time and even society to society. Example: Ordinary Roti, kapda, makaan etc sufficient for survival. Comfort: It includes Goods or Articles used by normal and social human being for reducing drudgery, reducing working time, increasing taste, palatability, ease and convenience etc. Example: Scooter instead of Bi-cycle, AC-car instead of non-AC-car, quilt instead of ordinary blanket, Sauce with roti instead of only roti. Luxury: It includes Goods or Articles used by normal and social human being for decoration or aesthetic purposes or for making a show of wealth for impressing other members of the society. Example: Gold studded sari instead of ordinary sari, Diamond studded shoe instead of ordinary shoe, Ac-car instead of bi-cycle etc. Download 27.26 Kb. Share with your friends:
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