Understanding supply and demand is fundamental for JAIIB Paper 1 Module B. These concepts form the basis of market economics and price determination. Law of Demand The law of demand states that when the price of a good increases, the quantity demanded decreases, and vice versa, assuming other factors remain constant. Determinants of Demand: Law…
Inflation is a critical economic concept for JAIIB candidates. This guide covers types of inflation, measurement methods, and their impact on Indian banking. What is Inflation? Inflation refers to the sustained increase in the general price level of goods and services over time, resulting in a decrease in the purchasing power of money. Types of…
Understanding National Income and GDP is crucial for JAIIB Paper 1. This comprehensive guide covers all key concepts, calculations, and their significance in the Indian economy. What is National Income? National Income represents the total value of goods and services produced by a nation during a specific period, typically one year. It serves as a…
