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Employment Levels
High level of employment represents positive picture of the economy. Partial employment and disguised Unemployment are also the aspects of employment levels.
Productivity
This is the Output generated by the given amount of Inputs. High level of productivity supports the Economic Environment.
WHAT IS LIBERALIZATION?
It is the relaxation of previous government restrictions usually in the area of social and economic policies.
WHAT IS PRIVATIZATION?
WHAT IS GLOBALIZATION?
It is the process by which regional economies, societies and cultures have become integrated through a global network of communication, transportation and trade.
Indian economy was in deep crisis in 1991. Inflation rate went up to 17%. Foreign currency reserve came down to almost 1 Billion Dollars. Foreign investors and NRI,s lost confidence in Indian economy.
Micro Economics
It includes the economic environment of a particular industry, firm, or household, Its main consideration is efficient allocation of resources to maximize output.
Macro Economics
It includes all the economic factors in totality. Main purpose is to determine the level of income and employment in the economy.
Conclusion
Income, wealth, employment level and productivity are the major contributors in assessing the economy. Micro economics is a tool for evaluating economic policies. Macro Economics is a tool to compute and use national income.