In which area is the public sector most dominant in India?

 

Value added is determined by the difference between the price of product or service and the cost of producing it.

Added Value = Price that the product or service is sold at - cost of producing the product.

A negative supply shock in the sho rt run causes the aggregate supply curve to shift to the left.

Mixed economy is the most common economic system in the world.

The multiplier effect means that "An effect in economics in which an increase in spending produces an increase in national income and consumption greater than the initial amount spent."

Microeconomics is concerned with the study of individual firms, households, etc...

Disposable income is the amount of money that households have available for spending and saving after income taxes have been accounted for.

A decline in disposable income means a movement down along an economy's consumption schedule.