NTA UGC NET/JRF Exam, Dec. 2019 Economics (Shift-I)

Output growth = (labour share × labour growth) + (capital share × capital growth) + (technical progress)
Labour share = 2/3
•Labour growth = 3%
•Capital share = 1/3
•Capital growth = 6%
•Output growth = 6%
Now putting all values in above equation:-
6 = (2/3 x 3) + (1/3 x 6) + growth of total productivity
6 = (2) + (2) + growth of T.P.
6-4=Growth of T.P.
=2%

Development as freedom is a 1999 book about international development by Indian economists and philosopher Amartya Sen. The American edition of the book was published by Alfred A. Knopf.

The basic proposition of development as freedom is the expansion of the capabilities of an individual so that he can lead the kind of life he values. Capabilities are forms of freedom that vests individual with ability or function do something.

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Market failure can be caused by a lack of information, market control, public goods, and externalities. Market failure can be corrected through government intervention, such as new laws or taxes, tariffs, subsidies, and trade restrictions.

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Willingness to pay or willingness to assets are considered in this.
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It also regulates the functioning of stockbrokers, sub-brokers, portfolio managers, and other intermediaries in the securities market and regulation of primary and secondary security market.

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