The reason why the GNI per capita begin to increase notably in India after 1990 is that The nation began to embrace development through trade.
<h3>What were the major impact of economic reforms of 1991?</h3>
There are lots of Reforms that has led to rise in competition in the sectors such as banking in India and this is said to increased efficiency.
Trade is known to be a part of economic development as it leads to economic growth, forming more jobs, reducing prices and others.
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<span>The correct answer is:
a. Economics is the social science that tries to explain the choices people make concerning the limited resources that meet their needs and wants.
Note that people also include the government - since governments are made up of people.
Now, the reason why the other options are wrong:
b. Economics is the social science that tries to explain the reasons why the currencies of various countries are so numerous.
The currencies are an instrument, but not a necessary one. For example, the traditional economies don't use currencies at all!
c. Economics is the social science that tries to explain only the choices the government makes concerning supply and demand in the markets.
Reason why it's wrong: It examines the choice of both private and official choices !
d. Economics is the social science that tries to explain the spiritual choices people make concerning how to share limited resources.
- this is false as spirituality barely matters in economics except as a factor influencing people's choices!</span>
The answer is C, the CLEP policy of the colleges they are interested in.
Electrical system specialist
Answer: high
Explanation:
When the supply of labor for a particular occupation is high, this means that there are plenty people who are ready to work and there's surplus labor. When the need for workers arise by employers, due to the high labor supply, there'll be lower wages that'll be offered to them.
On the other hand, when the number of workers that we have in an occupation is limited and the demand for such workers is high, this will bring about a scenario whereby the wages that'll be offered to such workers will be high because there's a high demand for them and there are limited workers for that occupation.
