Market forces and it's types

Q. Unemployment has risen despite the fact that opportunities of employment have risen during the 5 years plans. Unemployment is a complex issue influenced by various factors, including economic policies, social dynamics,technological advancements. While ample opportunities were provided to the people in five years plans. Yet there were many reasons for people not being employed. 1. people were unaware of the opportunities because of the lack of information at that time. 2.The increase in diseases due to an unhygienic environment was also a major factor for the unemployed . 3.Increasing population gradually exceeds the available opportunities. 4.Lack of knowledge or low education was a major factor in get less opportunities of employment. 5.Inadequate economic growth couldn't keep up with the demands for employment. IL Analysis & Evaluation Q. Do you find the concept of market forces in contradiction with the concept of comprehensive planning in India? Write your opinion with a logical reasoning. Ans. Comprehensive planning in India (launched to kick-start the process of growth after independence)focused on direct participation of the state in the process of growth and development. It stresses the need for a leading role of the public sector enterprises, allowing private enterprises to play only a secondary role. To the extent the private sector was not allowed to enter certain areas of production activity, free play of the market forces was certainly inhibited. Yet, comprehensive planning in India should not be misinterpreted as a model of growth that did not allow the free play of the market forces. The fact of the matter is that it was a model of growth that regulated the free play of the market forces in a manner such that the scarce resources of the country were most optimally utilised promoting growth with social justice. Q.What flaws do you find in your education system that contributes to the problem of unemployment in the country? Ans. Education system in India lacks vocationalisation It is degree-oriented without imparting skill to the degree-holders to look for avenues of self-employment. It causes excess supply of labour seeking white collar jobs. Thus, it contributes to unemployment in the country. utilized, promoting growth with social justice. Q. What do you mean by market forces? Ans.In economics, market forces refer to factors that influence the price and quantity of goods and services, driving supply and demand in a market. These include competition, consumer preferences, technological advancements, economic growth, and government regulations. Types of market forces There are a few types of market forces that can impact the supply and demand of goods and services, including: • Economic: Consumers ' buying behavior and their ability to purchase a particular product or service. These include economic matters such as changes in income, inflation, exchange rates, andinterest rates. ●Competitive: The influence of competition from other companies in offering similar products and services. These look at the competitive climate of a particular area, considering factors such as competitive pricing, promotional strategies, and barriers to entry. ● Political and legal: Regulations, laws and government policies can influence how products or services are created and marked. Technological: Advances and developments in technology that can affect the demand for a product or service. ● Demographic: Population characteristics such as age, gender, race,ethnicity, socio-economic status, and lifestyle choices. • Social and cultural: The influence of the public perception on the products and services of a business. These could be anything from changing population sizes and developing trends, to traditional toms held by a group of people.