WELCOME TO YOU I Heartily welcome you to read few important points which I've noted from the webinar. ------------------------------ Research and innovation Innovation refers to implementing new ideas for the development of industry and other fields like agriculture which aims at growth. It also refers to ideas for improving existing ones. Human resource (Refers to skills and abilities of a person) are result in qualitative research and education. Linking any of the subject to the matter of society leads to development of new areas in the subject. Each subject may have different goals and fields but, research is same. Concentrating on subject and digestion of matters from other books is very important which is possible only by continues acquisition of knowledge and work. Inability of the students in terms of research, new findings and exploration is the failure of the teacher. Adaptation is very important for research. (Adaptation refers to software and scientific skills) which imp

WELCOME TO YOU I heartily welcome you to read this post on the concept of wants. ------------------------------ Want Generally a want is just a desire. But in Economics it is a very basic/fundamental concept which is basis for number of other concepts in economic theories. It is assumed that Human wants are always unlimited or limitless whereas, resources are always in scarce. Simply the resources are always less than the demand. That's why the reason a man will go for alternative resources. Want is a psychological phenomenon.  Economic want and noneconomic want Generally wants are divided into 2 types. they are: Economic want Noneconomic want      *Economic want refers to those desires which can be bought and satisfied through money or other way of transaction. For example, purchase of clothes, Satisfying basic requirements/necessities etc. This kind of want requires purchase of a commodity. It can be satisfied with the right desire and ability to pay. I can say simply that the in