Archive for May, 2017
Deﬁne and Explain Economics B Com & BA Principle of Economics
This notes are for Karachi university, Punjab University, Virtual University and any other university.
Economics is growing very rapidly as the years pass. As new ideas are being discovered and the old theories are being revised. Therefore, it is not possible to give a deﬁnition of economies which has a general acceptance.
For the sake of convenience, the set of deﬁnitions given by various economists are generally classiﬁed under four heads:
- Economics as a science of wealth.
- Economics as a science of materiel welfare.
III. Economics as a science of scarcity and choice.
- Economics as a science of growth and efficiency.
B Com Economics Notes/ BA Economics Notes
Economics as a science of wealth/ Classical View
There is no one deﬁnition of Economics which has a general acceptance. The formal roots of the scientiﬁc framework of economics can be traced back to classical economists. The pioneers of the science of economics deﬁned economics as the science of wealth.
Adam Smith, the founder of economies, described it as body of knowledge which relates to wealth. According to him if nation has large amount of wealth, lt can help in achieving its betterment. He deﬁned economics as:
“The study of nature and causes of generating of wealth of a nation”.
Adam Smith in his famous book. “An enquiry into the Nature and Causes of the Wealth of nation” emphasized the production and expansion of wealth as the subject matter of economics.
Ramadan Sehar Iftar Timing Karachi 2017
Ramadan is going to start from 26th or 27 May 2017. Due to this, muslims are excited in all over the world. Like other muslims, Karachi people are also good muslims and for this they need Ramazan Calendar 2017 for Sehar and Iftar timings. Read the rest of this entry »
Room Cooler Prices 2017 in Pakistan
The dry and hot summer season is touching its full peak in various parts of the Pakistan including Karachi, Lahore and Islamabad. The augment in heat has also given rise in the prices of these
electronic appliances such as Room cooloers or evaporative coolers. Now-a-days, the tempertaure is going above 40 degree celcius and in such a hot weather, it is difficult to live without an air cooling appliance such as air cooler or Split AC. Read the rest of this entry »
Prize Bond Draw Result 7,500 Multan 2 May 2017
On 2nd May 2017, the saint city of Multan was chosen to draw draw results of prize bond. As usual, the people of Pakistan were very excited about the outcome of the balloting. Here are the results.