impact of gst on national income - economics - non-competitive markets
impact of gst on national income
dear student,

any new policy/ implementation on economy will create problems
initially similarly gst will initially create some issues for
taxpayers in the long run, gst will have quite a favourable impact
on indian economy some sectors will have more favourable impact
compared to others under the proposed gst gst will have favourable impact on
organised logistic industry and modernised warehousing
gst will remove cascading
effect of taxes gst will increase national income in long run

regards
market activities are those which involve remuneration or earning money. non-market activities don’t generally give profits and are for self-consumption. they are not paid for an do not involve money.examples:1. a farmer cultivates primarily for himself and his family and not for earning a profit.2. a mother is preparing food for the family. An increase in the level of production of goods and services (national income) of a country over a certain period of time is referred to as economic growth. Higher level of investment in education sector would lead to higher proportion of educated people working with higher participation in economic activities and, therefore, would lead to higher economic growth. The following are the various ways in which investment in education stimulates economic growth: 

**(i) Imparts Quality Skills and Knowledge**: Education endows people with quality skills and, thereby, enhances their productivity. Consequently, it enhances the income earning capacities of and opportunities for the people. Moreover, it also enables the human capital to utilize the available physical capital optimally. 

**(ii) Develops Mental Abilities**: Education develops the mental abilities of people and helps them to make their choice rationally and intellectually. Education churns out good citizens by inculcating values in them.  

**(iii) Acceptability of Modernization**: An educated public of a nation has greater acceptability of modernization and modern techniques. This not only helps the economy to grow but also facilitates a primitive economy to break the shackles of tradition and backwardness.  

**(iv) Eradicates Skewed Income Distribution**: Education not only increases the income  earning capacity but also reduces the skewed distribution of income, thereby, forms an egalitarian society.  

**(v) Raises Standard and Quality of Living**: Education enhances the income earning capacity of the people, thereby; it raises the standard of living and also improves the quality of living.  

**(vi) Increases the Participation Rate**: It fosters economic development by increasing the participation of people in the process of growth and development.  

**(vii) One Solution for Other Economic** **Problems**: The importance of education is not only limited to making people educated But also in facilitating an underdeveloped economy to solve different but interrelated macro economic problems like poverty, income inequality, population, investments, under utilization of resources. The answer to the question is available in the PDF file https://www.assignmentexpert.com/homework-answers/economics-answer-6991.pdf The answer to the question is available in the PDF file https://www.assignmentexpert.com/homework-answers/economics-answer-9189.pdf answer: (3) recognition of costs associated with the acquisition of the fixed assets on the income statement. none of the costs associated with the acquisition of the fixed assets (mowing equipment and truck) have been recognized as expenses on the income statement.the fixed assets of the business provide benefits to the company and its users over its economic lite. depreciation allocates the cost of long-term fixed assets to expense over its useful/ economic lite. the benefit provided by the company during the period should be recognized as an expense in that period.the recognition of depreciation expense on the income statement will result in reducing the net income. please find the attached solution in doc file. net foreign income is positive migration is a response to the uneven distribution of opportunities over space. people tend to move from a place of low opportunity and low safety to the place of higher opportunity and better safety. this has both positive and negative effects.the economic consequence of migration in india are:a) the biggest plus point is the remittances sent from abroad to the home country. it is one of the major sources of foreign exchange.b) in 2002, india received the us $ 11 billion as remittances from international migrants.c) the maximum amount is received by punjab, kerala and tamil nadu.d) the amount of remittances sent by the internal migrants is low as compared to international migrants.e) internal migrants also play an important role in the growth of the economy. kayla gardner bus 206­uy study guide exam i week 2: globalization ● globalization arguments (pick 2 of each) ○ for: ■ it creates more jobs in all economies. ■ it creates better jobs in less developed countries.  ■ there is more foreign direct investment (fdi) and  economic growth. ■ it pr allow private companies to compete with all govenrment services. its that simple.

when a govenrment monopoly is in place, there is no reason or mechanism for the corruption to go away.

in a free market, corruption leads to losses, so it provides incentive for the business to fire and prosecute those who are corrupt.

take the government monopoly on police protection for example. what happens to police who do not respond to a robbery? what happens to reports of police beatings and theft? often nothing. there is no incentive for anything to be done. on the other hand, in a free market, every instance would be investigated and reparations paid for mistakes, else competition will have a chance of providing the service instead.

also consider this. government programs benefit from losses. it allows them to request budget increases, or power increases. inefficiency is rewarded in government, the opposite of what is rewarded in a free market. saying that, corruption assists government as it helps to drive up costs of operation.

*corruption in society is a problem? society, or the people do not have the power to imprison you, or tax you. you are not forced to fund private citizens who are 'corrupt'. an increase in the input price will lead to a decrease in the supply and no change in the quantity demanded.the following figure explains how an increase in the input price would affect the equilibrium price and equilibrium quantity.a. the market supply falls with the increase in the input prices.b. this leads to a leftward shift in the supply curve from s2 to s1.c. at the initial price op1, excess demand of q1-q1'.d. this excess demand implies that some consumers will have to pay a higher price to purchase the extra units of output.e. the rise in the market price will continue until it reaches op2.f. at op2, the new supply curve s2 intersects the initial market demand curve d1 at e2.g. e2 if the new equilibrium, op2 is the new equilibrium price, and oq2 is the new equilibrium output.h. at the new equilibrium, the price has increased and the quantity has fallen.