Different theories have been developed to explain the determination of rate of exchange. They are: 1. Mint Parity theory 2. Purchasing power parity theory 3. Balance of payments theory 1. Mint Parity Theory: Mint parity theory explains the determination of exchange rate between the two gold standard countries. In a country on gold standard, the […]
Top 3 Theories of Rate of Exchange: With Criticisms | Foreign Exchange | Economics
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Balance of Payments in India: Meaning, Concept, Features and Disequilibrium
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In this article we will discuss about Balance of Payments in India:- 1. Meaning of Balance of Payment Accounts 2. The Concept of Balance of Payments 3. Features 4. Balance of Payments Always Balance 5. Disequilibrium in Balance of Payments. Meaning of Balance of Payment Accounts: The circular flow of economic activities under a four […]
Mill’s Theory of Reciprocal Demand: Formula, Graphs and Criticisms
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In this article we will discuss about Mill’s Theory of Reciprocal Demand:- 1. Changes in Demand and Supply 2. Reciprocal Demand Elasticity 3. Offer Curve Approach 4. Mill’s Paradox 5. Special Gains to Small Countries 6. Criticisms 7. Formula 8. Graphs. J.S. Mill made Ricardo’s theory of comparative cost determinate by stating the conditions for […]