green economy
Posted inEconomic GD Topics

Green economy

The present economy encourages people to buy more things. Rising materialism is depleting natural resources, causing a negative impact on the environment. The green economy is an alternate economic model, which focuses on conscious consumption, promotes reusing, repairing and recycling things.
Stagflation
Posted inCurrent Affairs GD Topics Economic GD Topics

Stagflation

Till the 1970s, it was believed that inflation (increase in prices) and unemployment are inversely proportional. Because, if the unemployment rate is high, common people have low purchasing power, and hence the demand for goods reduces, thereby the prices will either reduce or stay constant.
global energy crisis
Posted inCurrent Affairs GD Topics Economic GD Topics

Global energy crisis

In 2020, lockdowns were imposed in many parts of the world due to the Covid pandemic. After the lockdowns are lifted, the demand for electricity increased as the economic activity returned to normal. But the production did not increase as per the demand due to several factors such as labour shortage and supply chain disruptions.