For every square matrix, there exists a determinant. This determinant is an arrangement of same elements of the corresponding matrix into rows and columns by enclosing vertical lines.

Liberalisation refers to removal of relaxation of governmental restrictions in all stages in industry. Delicensing, decontrol, deregulation, subsidies (incentives) and greater role for financial institutions are the various facets of liberalisation.

(i) Tamil Nadu is the most urbanised state with 48.4% of urban population against 31.5% for India as a whole.
(ii) The state accounts for 9.61% of total urbanites in India against 6% share of total population.

(i) Rural development should minimise, the gap between rural and urban areas in terms of the provision of infrastructural facilities.
(ii) It was called as PURA by former President Abdul Kalam.

(i) According to classical theory the equilibrium interest rate is determined by the intersection of demand and supply curves
(ii) Demand for money refers to investment and supply of money refers to savings.
(iii) S = I

(i) Economics of scale is effected both by the internal and external factors of the firm.
(ii) Economies of scale reduces the cost of production: and, diseconomies of scale increases the cost of production.

Deforestation refers to Clearing of forests, trees and thereby forest land is converted to a non-forest use.

Income represents the amount of monetary (or) other returns either earned (or) unearned small or big accruing over a period of time to an economic unit.

Total Utility: Total utility refers to the sum of utilities of all units of a commodity consumed.
For example if a consumer consumes ten apples, then the total utility is the sum of satisfaction of consuming all the ten apples.

(i) Good which scarce are called Economic goods but goods that are not scarce are called free goods.
(ii) Chair, Table, Tv, are the example for Economic goods.

Public sector banks are classified into 2 categories.
They are,
(i) Nationalised Banks
(ii) State Bank and its associates.

(i) The average period that a person may expect to live is called life expectancy.
(ii) The life expectancy in India still falls short of most developed and developing nations.

The new EXIM Policy has been formulated focusing on increasing in Export scenario boosting production and supporting the concepts like Make in India and Digital India.

(i) It refers to all payments made to the resources owned and purchased
(ii) It is the summation of explicit and implicit costs.
(iii) Economic Cost = Implicit Cost + Explicit Cost.

Elasticity of supply is the relative change in supply in response to a relative change in price. If S is supply, the supply function is S = f(p)
The formula for elasticity of supply \(e_{\mathrm{s}}=\frac{\mathrm{P}}{\mathrm{S}} \cdot \frac{\mathrm{ds}}{\mathrm{dp}} ; \frac{\mathrm{ds}}{\mathrm{dp}}=\) slope

(i) Indian agriculture is still a gamble of the monsoons.
(ii) This strategy needs heavy investment in seeds, fertilizers, pesticides and water.
(iii) Gap between irrigated and rain fed areas had widened.
(iv) Farm mechanization created unemployment.
(v) Larger chemical use reduced the soil fertility and spoiled human health.

(i) It is difficult to identify who are underemployed.
(ii) Many are employed below their productive capacity.
(iii) Even if they are withdrawn from work, the output will not diminish.
(iv) Disguised unemployment is also called concealed unemployment.

Labour represents services provided by the factor labour, which helps in yielding an income to the owner of the labour power. - Marshall.

(i) Chennai
(ii) Ennore 
(iii) Tuticorin

(i) Reduction in fertilizer subsidy.
(ii) Abolition of subsidy on sugar.
(iii) Disinvestment of a part of the government's equity holdings in select public sector undertakings.

(i) Goods are tangible and have physical dimension.
(ii) Goods are transferable and have value in exchange.

(i) Interest is a payment made by a borrower to the lender for the money borrowed.
(ii) It is the price paid for the use of capital.

Payment for fixed factors is fixed cost. Fixed factors cannot be changed in the short period. Even if there is no output fixed cost is incurred. (eg) rent of the factory.

Resources that are exhaustive and cannot be regenerated is called non-renewable energy.
Eg: fossil fuels - Coal, Petroleum, minerals.