Find out the change in demand of sugar in India in 2018-2020. Plot it on a graph and depict the shift in the demand curve caused due to changes in other factors.
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Answer:
Indices are used to show numbers that have been multiplied by themselves. They can also be used to represent roots, such as the square root, and some fractions. The laws of indices enable expressions involving powers to be manipulated more efficiently than writing them out in full.
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Economic activity in India slowed down in 2018-20 as a synchronised global downturn amplified by drags on aggregate demand took a costly toll. After remaining benign in the first half, headline inflation picked up subsequently on spikes in food price inflation. Monetary and credit conditions reflected deceleration in underlying activity in the economy. Financial markets turned volatile in the later part of the year in sync with global markets, reflecting the impact of the pandemic. Public finances recorded deviations from budgetary targets due to shortfalls in tax revenue and disinvestment collections. On the external front, the current account deficit narrowed with net capital flows remaining robust; foreign exchange reserves rose during the year.
Amidst a loss of momentum across geographies, escalation of trade tensions between China and the US, uncertainty over Brexit, and heightened geo-political risks, the global economy grew at its slowest pace in 2019 post global financial crisis. Just as these retarding forces appeared to be easing their grip towards the close of the year, the novel coronavirus (COVID-19) broke out and rapidly exploded into a pandemic, darkening global economic prospects and imparting extreme uncertainty about the outlook.