Basics of Economy | System of Economy | Socialist vs Capitalist | UPSC EPFO | Drishti IAS English

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In this comprehensive video, Mr H L Mandal, expert faculty at Drishti IAS, explains the fundamentals of the economy and how various economic systems function, focusing on the key concepts crucial for the UPSC EPFO 2025 exam. This session will break down complex economic theories, making them easier to understand for your exam preparation.

The topics covered include:

Basics of Economy:

Learn about the essential aspects of an economy, from production and distribution to consumption.

System of Economy:

Understand the different economic systems—capitalist, socialist, and mixed economies—and how they impact national growth, wealth distribution, and government intervention.

Factors of Production:

Explore the four main factors of production—land, labor, capital, and entrepreneurship—and how they interact to produce goods and services in an economy.

This session is a perfect foundation for UPSC EPFO aspirants, offering clarity on core economic principles that are often tested in the General Studies and EPFO exams.

Enrol in the Drishti IAS UPSC EPFO 2025 course for detailed lessons on economy-related topics, taught by experts like Mr. H L Mandal. Classes are available online via the Drishti Learning App, giving you the flexibility to study at your convenience.

Take the first step toward EPFO success with Drishti IAS.

Hashtags:

#UPSCEPFO | #DrishtiIASEnglish | #Economy | #SocialistVsCapitalist | #FactorsOfProduction | #Economy | #EPFO | #Economy | #UPSCPreparation
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