Reciprocity Theorem | Statement, Limitations, and Applications
Introduction The reciprocity theorem in electrical networks says that if you have a bunch of paths for electricity to flow in a circuit, the current in one specific path due…
Elementary Concepts | VAT, GATT, WTO, and TRIPS
Value Added Tax (VAT) An added tax is such an indirect tax that is imposed on Value Added at various stages of production. Value added refers to the difference between…
Globalisation | Dimensions, Causes, Merits, and Demerits
Introduction Globalization means that countries are becoming more connected to the global economy. In the case of underdeveloped countries like India, this is important because it can help improve their…
Privatisation | Measures, Causes, Objectives, and Advantages
Introduction In the late 20th century, many countries, including India, saw a shift towards privatization, moving away from socialist economic models. This shift was influenced by the economic troubles faced…