describe in brief energy according to economy
Answers
Answer:
Energy is the most important component of economic infrastructure. Availability
of adequate energy is necessary for the growth of an economy. Energy is one of the
most crucial inputs for production. The level of production and productivity depends
the availability of adequate energy. Therefore, energy plays a crucial role in
agricultural development and industrialisation. Energy is essential for domestic
use also. Availability of adequate energy is essential for a good standard of living
and for improving the quality of life. Since energy is essential for production and
domestic consumption, demand for energy increases with increase in national
income and per capita income, i.e., with economic growth of the country. India is
able to meet around 70 per cent of its energy demand from domestic production;
the balance is met from imports.
Answer:
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Explanation:
Energy economics is a broad scientific subject area which includes topics related to supply and use of energy in societies.[1] Due to diversity of issues and methods applied and shared with a number of academic disciplines, energy economics does not present itself as a self-contained academic discipline, but it is an applied subdiscipline of economics. From the list of main topics of economics, some relate strongly to energy economics:
Computable general equilibrium
Econometrics
Environmental economics
Finance
Industrial organization
Input–output model
Microeconomics
Macroeconomics
Operations research
Resource economics