Identify and explain the concepts from the given illustrations
1) Sayali’s mother maintains a book of accounts
for household purpose and plans the expenditure
A) Identify concept: Economic planning
B) Explanation of concept: Economic planning is a conscious and deliberate choice of economic priorities by an individual or public authority.
2) Ramabai gets a subsidy on domestic LPG directly
transferred to her bank a/c.
a) Identify of concept: direct cash transfer.
b) Explanation of concept: direct cash transfer was one of the targets of the 12th five year plan in which major subsidies and welfare-related beneficiaries were to be shifted to a direct cash transfer by using aadhar platform linked with bank a/cs.
3) To solve classroom related issues, the teacher
forms a group of students. This group discusses the
problems and finds solutions to it.
A) Identify concept: Think tank.
B) Explanation of concept: Think thank is a group of experts who are gathered together by a person or organization in order to consider various problems, try and work out ways to solve them.