Economics is a vast subject dealing with maximizing production with the help of minimum resources. It is understood and stated that economics and welfare travels in opposite direction. When the resources are utilized properly the welfare and economics will travel in the same direction which results into the maximization of productivity. Every socio, welfare, political activity has got impact on economics indirectly whereas every commercial activity has got effect on economic activity directly. Also their steps, administration, judicial, media will have impact on economic activities indirectly which will effect to some extent on results of productivity.
The impact of political, socio and welfare activities on economics may be explained and understood following situations.
- Education: If the education not given proper importance quality of service, profession will come down which results into wastage and under-utilization of resources.
- Training: If the training is not given in the service to be provided by the person, who will waste resources in the process of learning and experimenting. Hence the education should include training also which can be utilized after completing his education and entering into service as a Professional, semi-professional or at ground level, hence every service at every level requires proper education along with training.
- Employment: Every employment has to be filled with person who has gone the required education and training so as to increase the productivity of the resources applied, otherwise wrong person who has not educated and trained in that subject of employment will leads to more wastage, absconding, in-explaining, escaping and relying on others without any decision power, which leads into wastage of valuable resources.
- Earning: Every employment occupy by a person with required education and training should be accorded with handsome earning so as to utilize service more effectively without spending his concentration on his personal, financial needs. The person who need not bather about domestic needs can provided more effective services to the organization and devote more concentration so as to get best results on high productivity.
- Eligibility: While filling the employment only the quality of education and training should be considered irrespective of any discrimination based on any rational. The needs of economic and employment requirement has to be bifurcated and should not be linked for filling of the employment. The right person will give right result. If he has been accorded correct employment according to his eligibility.
Discrimination: Awarding of opportunity on the basis on any rational can be supported if it has done for the purpose of upgrading the ration should be for the purpose of providing economic assistance and socio-assistance only but not in awarding of employment and rewarding in employment so as to improve the corrective of all the employees, students for the purpose best education, training and productivity.
