Inclusive growth is a principle which aims to promote equal opportunities for all economic stakeholders, with each and every section of the society receiving benefits of economic growth. In other words, IG is the impartial distribution of economic growth which provides opportunity for all in the society. While inclusive growth can sometimes be synonymous with pro-poor prosperity concepts, it entails much more.

Supply-side economics also called “Reaganomics” or the “trickle-down” policy.

The principle of supply-side economics is based on the idea that increased supply of products results to economic development. Policies of a supply-side are geared toward the provision of healthier business environment using instruments such as privatization and tax cuts/bailouts. As per the principle, the businesses benefiting from such policies will recruit more staff. The associated increase in jobs generates greater demand which will then stimulate the economy because consumers will enjoy lower from the high supply of goods and services.

The market: It is an entity which contains guidelines for managing transactions voluntarily under the price parameter. It is where manufacturing and sales of goods and services takes place. Transactions in a market setup are entirely voluntary and mutually agreed upon by both buyer and seller. The market is, therefore, the organisation to coordinate people’s activities in seeking self-interest towards increasing social and economic welfare.

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