The early part of the Vedic period, was an age of economic self-sufficiency and consequently there was little scope for an exchange of commodities. All the rural centres were self-supporting. Every house-holder produced the necessaries of life—his farm producing his food-grains and other necessaries, the industry of the women of his household supplied him with his clothing, while the craftsmen attached to the village did the rest. Consequently, there was no inter-dependence between two neighbouring local areas. The surplus product was kept for future consumption. This state of full economic independence did not however last long. Society became complex.
A large section of the community gave up the simple agricultural life; the primitive arts and crafts drew away a large number; owing to these and various other causes, there arose a scope for interchange of commodities between different local areas.
Answer:
Then humans showed up. Today, the Sahara Desert is defined by undulating sand dunes, unforgiving sun, and oppressive heat. But just 10,000 years ago, it was lush and verdant.
Explanation:
The statements that describe the ideas that Adam Smith expressed in the wealth of nations are:
- The natural laws of supply and demand
The invisible hand theory is a principle that Adam proposed that Individuals in a society should be left to act in their own best interests because the society would gain from it in the long run.
The natural laws of demand and supply is a function of the invisible hand which is automatically responsible for prices and market distributions in the economy
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Answer:
purification of the government, modernization
Explanation:
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