{"id":89085,"date":"2021-12-29T18:28:15","date_gmt":"2021-12-29T12:58:15","guid":{"rendered":"https:\/\/www.oliveboard.in\/blog\/?p=89085"},"modified":"2021-12-29T21:41:19","modified_gmt":"2021-12-29T16:11:19","slug":"nature-of-indian-economy","status":"publish","type":"post","link":"https:\/\/www.oliveboard.in\/blog\/nature-of-indian-economy\/","title":{"rendered":"Nature of Indian Economy | Free PDF for TN Exams in Tamil and English"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_77 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.oliveboard.in\/blog\/nature-of-indian-economy\/#Nature_of_Indian_Economy_e-book_Download_link\" >Nature of Indian Economy e-book | Download link<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.oliveboard.in\/blog\/nature-of-indian-economy\/#How_to_Download_Free_e-book_PDF\" >How to Download Free e-book PDF?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.oliveboard.in\/blog\/nature-of-indian-economy\/#Nature_of_Indian_Economy\" >Nature of Indian Economy<\/a><\/li><\/ul><\/nav><\/div>\n\n<p>TNPSC has released its <a href=\"https:\/\/www.tnpsc.gov.in\/static_pdf\/annualplanner\/2022_ARP_Planner_23_12_2021.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">annual planner 2022<\/a>. Notifications of various group exams can be expected soon. It&#8217;s a wonderful opportunity for aspiring candidates. To help you in your preparation, we have come up with a study blog on the topic of the Nature of the Indian Economy to help you in your preparation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nature_of_Indian_Economy_e-book_Download_link\"><\/span><strong>Nature of Indian Economy e-book | Download link<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Click on the link provided below to download the e-book.<\/p>\n\n\n\n<div class=\"wp-block-buttons aligncenter is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=contsp&amp;cat=tnex&amp;next=https:\/\/bit.ly\/Nature-of-Indian-Economy-Tamil\" target=\"_blank\" rel=\"noreferrer noopener\">Download PDF in Tamil here<\/a><\/div>\n\n\n\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link\" href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=contsp&amp;cat=tnex&amp;next=https:\/\/bit.ly\/Nature-of-Indian-Economy-Eng\" target=\"_blank\" rel=\"noreferrer noopener\">Download PDF in English here <\/a><\/div>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_Download_Free_e-book_PDF\"><\/span><strong>How to Download Free e-book PDF?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ol class=\"wp-block-list\"><li>Click on the given&nbsp;download link for<a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=contsp&amp;cat=tnex&amp;next=https:\/\/bit.ly\/Nature-of-Indian-Economy-Tamil\" target=\"_blank\" rel=\"noreferrer noopener\"> Tamil <\/a>and <a href=\"https:\/\/www.oliveboard.in\/free-ebook-pdf-download\/?ref=contsp&amp;cat=tnex&amp;next=https:\/\/bit.ly\/Nature-of-Indian-Economy-Eng\" target=\"_blank\" rel=\"noreferrer noopener\">English<\/a>. You will be taken to Oliveboard\u2019s FREE Ebooks Page. Alternately, you can download the Oliveboard Android App to access these on your smartphone.<\/li><li>Register\/Login on to the Free E-Books Page of Oliveboard (It is 100% free, You just enter your valid email id and a password to be able to download the PDF).<\/li><li>Once logged in you\u2019ll see the message \u201c<strong>Please click here to download the Free Ebook<\/strong>\u201c. Click on the message to download that particular ebook.<\/li><\/ol>\n\n\n\n<p class=\"has-text-align-center\"><a href=\"https:\/\/www.oliveboard.in\/tamil-nadu-exams\/?ref=contsp\" target=\"_blank\" rel=\"noreferrer noopener\">Attempt a Free Mock Test<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Nature_of_Indian_Economy\"><\/span><strong>Nature of Indian Economy<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Basics of an Economy<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Economy is economics at play in a certain region such as a city, state or country. For instance, Indian economy denotes the economy of India as a whole.<\/li><li>Economics is the study of how goods and services are produced, distributed and consumed.<\/li><li>Traditionally, the subject matter of economics has been studied under two broad branches: Microeconomics and Macroeconomics.<\/li><\/ul>\n\n\n\n<p><strong>Microeconomics<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>It studies the behaviour of individual economic agents in the markets for different goods and services.<\/li><li>For example,analyzing the demand and supply of a good\/service.<\/li><li>It examines the functioning of the particular sector of the economy.<\/li><\/ul>\n\n\n\n<p>Economic agents are those individualsor institutions which take economic decisions. They can be<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Consumers who decide what and how much to consume.<\/li><li>Producers of goods and services who decide what and how much to produce.<\/li><li>Entities like the government, corporation, banks.<\/li><\/ul>\n\n\n\n<p><strong>Macroeconomics<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>This is the study of the economy as a whole by focusing on aggregate measures.<\/li><li>For example,studying total output, employment and aggregate price level and their change over time.<\/li><li>It examines the various interlinkages that exist between the different sectors of an economy. For example, the effects of inflation on unemployment.<\/li><\/ul>\n\n\n\n<p><strong>Organization of Economic Activities<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Production, exchange and consumption of goods and services are among the basic economic activities of life.<\/li><li>Every economy faces the problem of allocating the scarce resources to the production and distribution of different goods and services among the individuals within the economy.<\/li><li>Based on how an economy is organized to address this problem, three models of economic system evolved, namely-<ul><li>Market Economy<\/li><\/ul><ul><li>State Economy<\/li><\/ul><ul><li>Mixed economy<\/li><\/ul><\/li><li>These models also decide the role of the state in an economy.<\/li><\/ul>\n\n\n\n<p><strong>Market Economy<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>A market is a set of arrangements where economic agents can freely buy or sell the products.<\/li><li>In market economy, the decisions of what to produce, how much to produce and at what price to sell are taken solely by the market.<\/li><\/ul>\n\n\n\n<p><strong>Features<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>There is private ownership of means of production.<\/li><li>The role of government is absent or minimal. State\/government play a passive role as a regulator.<\/li><li>It emphasizes on the \u2018division of labour\u2019 and \u2018laissez faire\u2019 (non-interference by the government).<\/li><li>This form of economy was proposed by <strong>Adam Smith <\/strong>in his work \u201cWealth of Nations\u201d (1776).<\/li><li>United States of America and European countries are the best examples of this model.<\/li><\/ul>\n\n\n\n<p><strong>State Economy<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The government or the central authority plans all the important activities like production, distribution and pricing in the economy.<\/li><\/ul>\n\n\n\n<p><strong>Features<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>The role of government is high.<\/li><li>The government may even produce the goods and services that it thinks are much needed for equitable distribution.<\/li><li>Government carries out the role of producer\/supplier of private goods and services like food, clothing as well as public goods and services like roads, defence, etc.<\/li><li>This form of economy was proposed by <strong>Karl Marx<\/strong>.<\/li><li>There are two versions of the state economy, namely<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td><strong>Socialistic economy<\/strong><\/td><td><strong>Communist economy<\/strong><\/td><\/tr><tr><td>Collective ownership of themeans of production (Land, Labour and capital).<br>A large role of state in running the economy.<br>Erstwhile USSR followed this model.<\/td><td>State ownership of means of production.<br>Absolute power of state in running the economy. <br>China, before 1980s followed this model.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Mixed Economy<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>It is a blend of both market economy and state economy.<\/li><li>Under this system there is freedom of economic activities as well as government interferences for the social welfare.<\/li><li>It evolved as a response to the Great depression in 1929 in the USA, which marked the setback of free market theory.<\/li><li>In 1936, the English economist <strong>John Maynard Keynes <\/strong>proposed a new approach which suggested \u2018<em>strong government intervention\u2019<\/em>in the economy along with \u2018<em>freedom of market\u2019<\/em>.<\/li><li>Presently, most countries follow this model.<\/li><\/ul>\n\n\n\n<p class=\"has-text-align-center\"><a href=\"https:\/\/www.oliveboard.in\/tamil-nadu-exams\/?ref=contsp\" target=\"_blank\" rel=\"noreferrer noopener\">Attempt a Free Mock Test<\/a><\/p>\n\n\n\n<p>Download the free ebook on Nature of Indian Economy for complete information on the topic for TNPSC exams. For guidance and practice for <a href=\"https:\/\/www.oliveboard.in\/tamil-nadu-exams\/?ref=contsp\" target=\"_blank\" rel=\"noreferrer noopener\">TNPSC exams<\/a>, download the Oliveboard app. <\/p>\n\n\n\n<p><strong>Also Check:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><a href=\"https:\/\/www.oliveboard.in\/bank-exams\/?ref=tsh\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>100+ Free Mock Tests<\/strong><\/a><\/li><li><strong><a href=\"https:\/\/play.google.com\/store\/apps\/details?id=in.oliveboard.prep\" target=\"_blank\" rel=\"noreferrer noopener\">Oliveboard Mobile App<\/a><\/strong><\/li><li><a href=\"https:\/\/discuss.oliveboard.in\/?ref=tsh\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Oliveboard\u2019s discuss forum<\/strong><\/a><\/li><li><strong><a href=\"https:\/\/t.me\/obbanking\">Oliveboard Telegram Group<\/a><\/strong><\/li><li><a href=\"http:\/\/bit.ly\/boltSep2019\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Download BOLT \u2013 Our Monthly General Awareness free e-book<\/strong><\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>TNPSC has released its annual planner 2022. Notifications of various group exams can be expected soon. It&#8217;s a wonderful opportunity<\/p>\n","protected":false},"author":60,"featured_media":89095,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[10514,10513,10517,10515,10483,10516],"class_list":["post-89085","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","tag-economy-for-tn-exams","tag-economy-for-tnpsc-exam","tag-indian-economy-for-tnpsc","tag-tnpsc-economy","tag-tnpsc-economy-notes","tag-tnpsc-indian-economy","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nature of Indian Economy | Free PDF for TN Exams in Tamil and English - Oliveboard<\/title>\n<meta name=\"description\" content=\"Download Nature of Indian Economy PDF in Tamil and English for all TN exams. 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It&#039;s a wonderful opportunity for aspiring\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.oliveboard.in\/blog\/nature-of-indian-economy\/\" \/>\n<meta property=\"og:site_name\" content=\"Oliveboard\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Oliveboard\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-29T12:58:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-12-29T16:11:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2021\/12\/rrb-ntpc-expected-cut-off-2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"730\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Tripti Mishra\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Oliveboard\" \/>\n<meta name=\"twitter:site\" content=\"@Oliveboard\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tripti Mishra\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.oliveboard.in\/blog\/nature-of-indian-economy\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/nature-of-indian-economy\/\"},\"author\":{\"name\":\"Tripti Mishra\",\"@id\":\"https:\/\/www.oliveboard.in\/blog\/#\/schema\/person\/d85e63b0781e1a55771b9894184814a5\"},\"headline\":\"Nature of Indian Economy | Free PDF for TN Exams in Tamil and English\",\"datePublished\":\"2021-12-29T12:58:15+00:00\",\"dateModified\":\"2021-12-29T16:11:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/nature-of-indian-economy\/\"},\"wordCount\":866,\"publisher\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/nature-of-indian-economy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2021\/12\/rrb-ntpc-expected-cut-off-2.png\",\"keywords\":[\"Economy for TN exams\",\"Economy for TNPSC exam\",\"Indian economy for TNPSC\",\"TNPSC economy\",\"TNPSC economy notes\",\"TNPSC Indian economy\"],\"articleSection\":[\"Articles\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.oliveboard.in\/blog\/nature-of-indian-economy\/\",\"url\":\"https:\/\/www.oliveboard.in\/blog\/nature-of-indian-economy\/\",\"name\":\"Nature of Indian Economy | Free PDF for TN Exams in Tamil and English - Oliveboard\",\"isPartOf\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/nature-of-indian-economy\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.oliveboard.in\/blog\/nature-of-indian-economy\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.oliveboard.in\/blog\/wp-content\/uploads\/2021\/12\/rrb-ntpc-expected-cut-off-2.png\",\"datePublished\":\"2021-12-29T12:58:15+00:00\",\"dateModified\":\"2021-12-29T16:11:19+00:00\",\"description\":\"Download Nature of Indian Economy PDF in Tamil and English for all TN exams. 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