ECONOMY PRODUCTION –DISTRIBUTION – CONSUMPTION

LARGEST ECONOMIC NATION- THE UNITED STATES,GERMANY,CHINA,NIGERIA

INVOLVES CULTURE, EDUCATION, TECHNOLOGY, SOCIAL ORGANIZATION, POLITICS(conventional method)

DETERMINED BYGDP(at present),INDUSTRIES,EXPORTS,IMPORTS,FDI STOCKS etc.

GDP(GROSS DOMESTIC PRODUCT) MEASURE THE HEALTH OF THE COUNTRY’S

ECONOMY

IT REPRESENTS TOTAL DOLLAR VALUE OF ALL GOODS PRODUCED

TO INCREASE GDP, “MAKE IN INDIA” WAS INTRODUCED BY PRIME MINISTER NARENDRA MODI

INDIA IS IN 10th POSITION IN GDP RATE

INDIA VS CHINA It has been reported by survey done on GDP India

vs. china that India’s GDP is 4 trillion whereas China’s GDP is ten trillion. As per the post-war history of economics, China’s economy has undergone a drastic change with seven percent increase in its GDP.

The growth in GDP of china has resulted from the rapid rise in the manufacturing of high-tech goods in the country under the large-scale high-tech manufacturing firms like Lenovo baidu.com and huawei technologies.

EXPORTS

IMPORTS

On the way to development………. Narendra Modi gave an official status to ‘Make in

India’ slogan and launched a campaign.

The Make in India logo is derived from the AshokaChakra

The lion in the logo stands for strength and power while the wheels are a sign of development and progress.

India should constantly keep up its strength so as to outpace China's supremacy in the manufacturing sector.

The 'Make in India' campaign is aimed at making India a manufacturing hub

Creating healthy business environment and India should also be ready to tackle elements that adversely affect competitiveness of manufacturing.

India's small and medium-sized industries can play a big role in making the country take the next big leap in manufacturing.

India has to be better prepared and motivated to do world class R&D.

CRUDE OIL MARKETING

Total oil production in the U.S. has surged from just over seven million barrels of oil per day at the beginning of 2013 to more than nine million barrels currently.

They have become the oil hub so the production for world’s demand is high so there is decrease in crude oil price

REFERENCES zeenews.india.com

business.financialpost.com

www.bloomberg.com

www.google.com

nextbigfuture.com

www.tradingeconomics.com