Micro Economics - I_Hindi

194 O;f”V vFkZ’kkL= & I ;fn vYidky esa ,dkf/kÑr izfr;ksxh Qes± lkekU; ykHk ds vfrfjDr dqN ,dkf/kdkjh ykHk Hkh vftZr dj ikus esa leFkZ gaS vkSj Hkfo\"; esa blh rjg ykHk feyus dh izR;k'kk gS rks blls vusd ubZ Qeks± dks bl {ks= esa izos'k ds fy, izksRlkgu feysxkA ubZ Qes± iqjkuh Qeks± }kjk mRikfnr oLrqvksa dh izfr;ksfxrk esa dqN vkSj u, LFkkukiUu iLz rqr djsaxhA blls ,d vksj ijq kuh Qeks± }kjk mRikfnr oLrvq ksa dh ekax de gksxh rFkk nwljh vkjs lk/kuksa dh ekax c<+us ls ykxrsa Åij mBsaxhA nh?kdZ ky eas fØ;k'khy bu nkus ksa izo`fÙk;ksa ds QyLo:i vfrfjDr ¼,dkf/kdkjh½ ykHk lekIr gks tk,axs vkSj lewg dh lHkh Qeks± dks dsoy lkekU; ykHk izkIr gksxkA vYidky eas legw dh fofHkUu Qek±s dks gkfu Hkh gks ldrh gSA ;fn buesa ls dqN Qes± ,slh gSa ftUgsa nh?kZdky esa viuh fLFkfr esa lq/kkj dh vk'kk ugha gS rks os O;olk; can dj nsaxh vkSj os Øsrk tks igys bu Qeks± ds mRiknksa dh ekax dj jgs Fks] vc O;olk; esa jg tkus okyh Qeks± ds mRiknksa dh ekax djus yxsaxsA blls oLrq fo'ks\"k dh dher c<+sxhA O;olk; ls dqN Qeks± ds fudy tkus ij oLrq fo'ks\"k ds mRiknu ds fy, vko';d lk/kuksa dh ekax esa deh gksxhA Qyr% bu lk/kuksa ds ewY; fxjsaxs vkSj O;olk; esa jg tkus okyh Qeks± dh ykxrsa de gksxhaA bu nks dkjdksa dh otg Y ls oLrq dh dher esa o`f) rFkk mRiknu ds fy, vko';d lla k/kuksa dh dherksa esa fxjkoV&nh?kZdky esa LMC LAC dher] vkSlr ykxr ds cjkcj gks tk,xh vkSj lHkh R P dher v kSj ykxr Qeks± dks dsoy lkekU; ykHk dh ikz fIr gks ik,xhA nwljs 'kCnksa esa] mUgsa 'kwU; vkfFkZd ykHk izkIr gkxs kA AR/D js[kkfp= 9.14 esa m|ksx esa 'kkfey Qeks± dk nh?kZdkyhu lUrqyu n'kkZ;k x;k gSA Åij nh xbZ MR ekU;rkvkas ds dkj.k lHkh Qeks± ds ekax o ykxr oØ ,d tSls gSaA blfy, mudh lra qyu fLFkfr;ka Hkh ,d O X gh gksaxhA Q ek=k js[kkfp= 9.14% lewg dh Qeks± dk nh?kZdkyhu lUrqyu nh?kZdkyhu lUrqyu dh fLFkfr esa m|ksx esa 'kkfey izR;sd QeZ dks dsoy 'kwU; vkfFkZd ykHk izkIr gksrs gSaA ;g 'krZ rc iwjh gksrh gS tc vkSlr vkxe (AR/D) oØ nh?kZdkyhu vkSlr ykxr oØ dks Li'kZ djrk gSA js[kkfp= 9.14 eas AR/D oØ nh?kdZ kyhu vkSlr ykxr oØ (LAC) dks R fcUnq ij Li'kZ djrk gSA blfy, QeZ rc nh?kZdkyhu larqyu esa gksxh tc og OQ ek=k dk mRiknu OP dher ij djsxhA CU IDOL SELF LEARNING MATERIAL (SLM)

Ckkt+kj lajpuk,a 195 9.14 lkjka’k (Summary) 1. iw.kZ izfr;ksfxrk cktkj dh og fLFkfr gS ftleas dkbs Z Hkh Øsrk vFkok foØsrk oLrq fo'ks\"k dh dher vius Ø;&foØ; }kjk izHkkfor djus dh fLFkfr eas ugha gksrkA bl izdkj] O;fDrxr Qeks± dh cktkj 'kfDr 'kwU; gksrh gSA 2. iw.kZ izfr;ksxh cktkj esa fuEufyf[kr 'krks± dk iwjk gksuk vko';d gS % (1) cM+h la[;k esa Øsrkvksa vkSj foØsrkvksa dh mifLFkfr] (2) le:i oLrq] (3) m|ksx dh rqyuk esa QeZ dk de mRiknu] (4) i.w kZ Kku] (5) Qeks± dk Lora=k izos'k vkSj cfgxZeu] (6) mRiknu ds lk/kuksa dh iw.kZ xfr'khyrk] (7) vf/kdkf/kd ykHk izkIr djuk] rFkk (8) ljdkjh fu;a=.k u gksukA 3. iw.kZ izfr;ksfxrk esa QeZ ^dher xzg.k* djus okyh QeZ gksrh gS rFkk og mRiknu vkSj fcØh dk lek;kstu djrh gSA 4. ml dher dks ftl ij QeZ dsoy viuh vkSlr ifjorhZ ykxr dh HkjikbZ dj ikrh gS rFkk ftl ij og mRiknu djus ;k u djus ij rVLFk (mnklhu) gS] ykHk&vykHk dher (break-even price) dgk tkrk gSA 5. ykHk vf/kdre djus okyh Qeks± ij fuEufyf[kr rhu fu;e ykxw gksrs gSa % fu;e 1 % QeZ dks mRiknu ugha djuk pkfg, ;fn mRiknu dh vklS r ifjorhZ ykxr mldh dher ls vf/kd gksA fu;e 2 % QeZ dks mruk mRiknu djuk pkfg, ftl ij MR = MC gksA fu;e 3 % QeZ dk lhekUr ykxr oØ mlds lhekUr vkxe oØ dks uhps ls dkVs (bls QeZ ds larqyu dh f}rh; Øe dh 'krZ Hkh dgk tkrk gS)A 6. vYidkyhu ykHkiznrk ds n`f”Vdks.k ls Qeks± dks rhu oxk±s esa ckaVk tk ldrk gS % (i) ykHk dekus okyh Qes(± (ii) Qes± tks ykHk&vykHk dh fLFkfr esa gSa( rFkk (iii) gkfu mBkus okyh Qes±A 7. iw.kZ izfr;ksxh cktkj esa dk;Zjr QeZ mRiknu dk og Lrj mRikfnr djsxh ftl ij lhekUr ykxr oLrq dh cktkj dher ds cjkcj gks tkrh gS (tc rd fd dher vkSlr ifjorhZ ykxr ls vf/kd jgrh gS)A CU IDOL SELF LEARNING MATERIAL (SLM)

196 O;f”V vFkZ’kkL= & I 8. iw.kZ izfr;ksfxrk dh fLFkfr esa QeZ ds vkSlr ifjorhZ ykxr oØ (AVC) ds Åij lhekUr ykxr oØ (MC) dk Hkkx gh mldk iwfrZ oØ gksrk gSA 9. ;fn vYidky esa iw.kZ izfr;ksxh cktkj esa fdlh dher ij fdlh oLrq dh ekax o iwfrZ cjkcj gksrs gSa rks ;g dher vYidkyhu larqyu dher dgykrh gSA 10. iw.kZ izfr;ksfxrk ds vUrxrZ m|ksx fo'ks\"k ml le; larqyu dh fLFkfr esa ekuk tkrk gS tc lHkh Qeks± dks 'kwU; ykHk izkIr gks jgs gksaA bl ykHk&vykHk dh fLFkfr esa u rks dksbZ fo|eku QeZ m|ksx esa ls tkuk pkgrh gS vkSu u gh dksbZ QeZ m|ksx esa izos'k djuk pkgrh gSA 11. dksbZ Hkh QeZ ml le; ,dkf/kdkjh gksrh gS tc og oLrq dh ,dek= iwfrZdrkZ gksrh gSA vr% QeZ ds lkeus ekax oØ gh cktkj dk ekax oØ gksrk gSA 12. ,dkf/kdkjh ds ekax oØ dh <ky _.kkRed gksrh gS ftldk vFkZ ;g gS fd ,dkf/kdkjh dher ?kVkdj gh oLrq dh T;knk ek=k csp ldrk gSA 13. ,dkf/kdkjh QeZ ml le; vYidkyhu lkE; ¼larqyu½ eas gksrh gS tc mldk lhekUr vkxe mldh vYidkyhu lhekUr ykxr ds cjkcj gksrk gS vkSj vYidkyhu lhekUr ykxr oØ lhekUr vkxe oØ dks uhps dh rjQ ls dkVrk gSA 14. dher foHksn ls rkRi;Z ,d gh oLrq dks ,d gh QeZ }kjk mRikfnr dj vyx&vyx O;fDr;ksa dks fHkUu&fHkUu dherksa ij cspuk gksrk gSA 15. dher foHksn dh nks cqfu;knh 'krsZ gSa % (i) cktkj ,d&nwljs ls iF` kd gksus pkfg, vkSj (ii) iRz ;sd cktkj esa ekax dh dher ykps fHkUu&fHkUu gkus h pkfg,A 16. ,dkf/kdkjh ds ikl ,d ls vf/kd iF` kd&iF` kd cktkj gks ldrs gSa ijUrq ;fn fofHkUu cktkjksa esa ,d dher ij ekax dh yksp cjkcj gks rks mls dher foHksn ls ykHk ugha feysxkA blds foijhr] ;fn ,d ,dkf/kdkjh dher ij ekax dh yksp vyx&vyx gks rks dher foHksn ls ykHk gksxkA 17. ;fn ,dkf/kdkjh nks cktkjkas esa viuh oLrq csp ldrk gS rks lUrqyu dh 'krZ ;g gksxh fd nksuksa cktkjksa esa lhekUr vkxe vyx&vyx lhekUr ykxr ds cjkcj gksA bl fLFkfr esa lUrqyu dh lkekU; 'krZ Hkh iwjh gksxh D;kasfd lexz lhekUr vkxe lhekUr ykxr ds cjkcj gksxkA CU IDOL SELF LEARNING MATERIAL (SLM)

Ckkt+kj lajpuk,a 197 18. ,dkf/kÑr izfr;ksfxrk ,slh cktkj lajpuk gS ftlesa cgqr ls foØsrk fudV izfrLFkkiu oLrqvksa ¼,slh oLrq,a tks le:i u gkrs s gq, Hkh ,d nwljs ls feyrh&tqyrh gqbZ gksrh gSa½ dh fcØh djrs gSaA 19. ,dkf/kÑr izfr;ksfxrk dh rhu fo'ks\"krk,a gSa % (i) Qeks± dh bruh vf/kd la[;k fd Qes± ,d nwljs ij fuHkZj ugha gSa( (ii) Qe±s foHksnhÑr oLrqvksa dk mRiknu djrh gaS( rFkk (iii) m|kxs esa vkokxeu dh LorU=rk gSA 20. lUrqyu dh fLFkfr rc izkIr gksrh gS tc lhekUr ykxr lhekUr vkxe ds cjkcj gksA vYidkyhu lUrqyu eas] ,dkf/kÑr izfr;ksfxrk ds vUrxZr fofHkUu Qeks± dh dhersa ,d nwljs ds vkl&ikl rks gkasxh ijUrq cjkcj ugha gkasxhA 21. nh?kZdkyhu lUryq u dh fLFkfr esa m|ksx esa 'kkfey izR;sd QeZ dks dsoy 'kwU; vkfFkZd ykHk ikz Ir gksrs gSAa ;g 'krZ rc iwjh gksrh gS tc vklS r vkxe (AR/D) oØ nh?kZdkyhu vkSlr ykxr oØ dks Li'kZ djrk gSA 9.15 eq[; ‘kCnkoyh (Key Words/Abbreviation) 1. iw.kZ izfr;ksfxrk% ckt+kj dh og fLFkfr ftleas dksbZ Hkh Øsrk vFkok foØsrk oLrq fo’ks”k dh dher vius Ø;&foØ; }kjk izHkkfor djus dh fLFkfr esa ugha gksrkA 2. ykHk&vykHk ;k dkecUnh dher (Break-even or Shut-down Price)% og dher ftl ij QeZ dsoy viuh vkSlr ifjorhZ ykxr dh HkjikbZ djrh gS rFkk ftl ij og mRiknu djus ;k u djus ds izfr mnklhu gksrh gSA blls de dher gksus ij QeZ mRiknu cUn dj nsxhA 3. iw.kZ izfr;ksxh m|ksx dk nh?kZdkyhu lUrqyu% iw.kZ izfr;ksxh m|ksx dk nh?kZdkyhu lUrqyu rc gksrk gS tc m|ksx dh lHkh QeksaZ dks ‘kqU; ykHk gksA 4. ,dkf/kdkjh QeZ% dksbZ Hkh QeZ ,dkf/kdkjh ml le; ekuh tkrh gS tc og oLrq fo’ks”k dh ,dek= iwfrZdrkZ gksrh gSA 5. dher foHksn% ,d gh fuea=.k ds vUrxZr mRikfnr oLrq fo’ks”k dks fofHkUu Øsrkvksa dks fofHkUu dherksa ij cspus dk dk;Z dher foHksn dgykrk gSA CU IDOL SELF LEARNING MATERIAL (SLM)

198 O;f”V vFkZ’kkL= & I 6. ,dkf/kdkj izfr;ksfxrk% ,dkf/kÑr izfr;ksfxrk esa cgqr lh QeZsa gkrs h gaS ftuesa iRz ;sd ds ikl dqN cktk+ j ‘kfDr (market power) gksrh gS D;ksfa d izR;sd QeZ ,d foHksfnÑr oLrq dk mRiknu djrh gSA ijUrq lHkh QesZa ,d&nwljs ls izfrLi/kkZ djrh gSa D;ksafd muds mRikn izfrLi/khZ gSaA 9.16 f’k{k.k xfrfof/k (Learning Activity) 1. vius vklikl ds nks ;k rhu ckt+kjksa@m|ksxksa] tSls lCth eaM+h] vukt eaM+h] okgu m|ksx vkfn ds dqN ,sls y{k.ksa dh lwph cuk,sa tks iw.kZ izfr;ksfxrk ls lEcfU/kr gksaA __________________________________________________________________________ __________________________________________________________________________ 2. fuEu esa ls D;k ,dkf/kd`r izfr;kfs xrk dk lgh mnkgj.k gS rFkk D;ksa\\ ¼d½ Hkkjrh; jsy ¼[k½ dkj m|ksx ¼x½ izlk/ku lkexzh ¼lkcqu] ‘kSEiw] vkfn½ m|ksx __________________________________________________________________________ __________________________________________________________________________ 9.17 o.kZukRed iz’u (Descriptive Questions) 1. m|ksx ds ckjs esa fuEufyf[kr rF;ksa ij fopkj dhft, vkSj Li”V dhft, fd os iw.kZ izfr;ksxh cktkj O;oLFkk ds vu:q i gaS vFkok ugha % (i) lHkh Qes± ,d gh dher olwy jgh gSaA (ii) lHkh Qeks± dks 2007 esa vkfFkZd ykHk izkIr gq,A (iii) m|ksx esa dsoy 10 Qes± gSaA (iv) O;fDrxr Qes± vius mRiknksa ds foKkiu ij Hkkjh jkf'k O;; djrh gSaA 2. QeZ ds vYidkyhu lUrqyu dh 'krs± le>kb,A CU IDOL SELF LEARNING MATERIAL (SLM)

Ckkt+kj lajpuk,a 199 3. ^vYidky esa iw.kZ izfr;ksfxrk esa QeZ dks ykHk Hkh gks ldrk gS rFkk gkfu HkhA* js[kkfp=ksa dh lgk;rk ls Li”V dhft,A 4. (i) mRiknu cUn djus ds fcUnq (shut down point) dh lda Yiuk Li”V dhft,A ;fn dkbs Z QeZ viuh fLFkj ykxr ds dNq v'a k dh HkjikbZ ugha dj ikrh rks Hkh og mRiknu eas D;kas cuh jgrh g\\S (ii) fdlh iw.kZ izfr;ksxh QeZ ds n`f”Vdks.k ls ykHk&vykHk fcUnq (break-even point) D;k gS\\ D;k QeZ bl fcUnq ij lUrqyu esa gksxh\\ 5.- iw.kZ izfr;ksfxrk esa QeZ dh nh?kZdkyhu lUrqyu 'krZ D;k gS\\ js[kkfp= }kjk fn[kkb,A 6. ,dkf/kdkj dh ifjHkk\"kk nhft,A O;k[;k dhft, fd ,dkf/kdkj dh fLFkfr esa dher fdl izdkj fu/kkZfjr gksrh gSA 7. le>kb, fd ,d ,dkf/kdkjh dk ykHk ml fcUnq ij vf/kdre D;ksa gksrk gS tgk¡ lhekUr ykxr lhekUr vkxe ds cjkcj gkrs h gAS 8. ,dkf/kdkj esa dher foHksn ls D;k rkRi;Z gS\\ dher foHksn ykHknk;d D;ksa gS\\ dher foHksn dh vko';d 'krs± D;k gSa\\ 9. ,dkf/kÑr izfr;ksfxrk dh vo/kj.kk Li”V dhft,A ,dkf/kÑr izfr;ksfxrk dh D;k ekU;rk,a gSa\\ 10. vYidky esa ,dkf/kÑr izfr;ksfxrk esa dher dk fu/kkZj.k fdl izdkj fd;k tkrk gS\\ 11. ,dkf/kÑr izfr;ksfxrk esa nh?kZdkyhu lUrqyu dh 'krZ D;k gS\\ j[s kkfp= dh lgk;rk ls le>kb,A 9.18 cgqfodfYi; iz'u (Multiple Choice Questions) 1. fuEu esa ls dkSu lh fo’ks”krk iw.kZ izfr;ksfxrk ls lEcfU/kr ugha gS\\ ¼d½ Øsrkvksa o foØrs kvksa dh fo’kky la[;k ¼[k½ le#i oLr,q sa ¼x½ oLrq foHksn ¼?k½ foØ; ykxrksa dk vHkko CU IDOL SELF LEARNING MATERIAL (SLM)

200 O;f”V vFkZ’kkL= & I 2. iw.kZ izfr;ksfxrk eas QeZ ds fy, ekax oØ fdl izdkj dk gksrk gS\\ ¼d½ /kUkkRed <ky okyk ¼[k½ _.kkRed <+ky okyk ¼x½ y-v{k ds lekukUrj ¼?k½ x-v{k ds lekukUrj 3. iw.kZ izfr;kfxrk ds vUrxZr QeZ dks nh?kZdky esa dkuS lh fLFkfr izkIr gksrh gS\\ ¼d½ lkekU; ykHk ¼[k½ gkfu ¼x½ ykHk ¼?k½ mijksDr lHkh fLFkfr;ka laHko gSaA 4. QeZ ds ykHk vf/kdre gksus ds fy, nwljs Ø; dh ‘krZ (Second-order Condition) D;k gS\\ ¼d½ MC = MR ¼[k½ MC oØ MR oØ dks uhps ls dkVrk gSA ¼x½ MC > MR ¼?k½ MC < MR 5. fuEu esa ls D;k ,dkf/kdkjh ckt+kj dk izeq[k y{k.k ugha gS\\ ¼d½ dsoy ,d QeZ ¼[k½ le:i oLrq,sa ¼x½ fudV izfrLFkkiu oLrqvksa dk vHkko ¼?k½ vU; QeksaZ ds ioz s’k esa :dkoVsa 6. fuEu esa ls dkSu lk fodYi dher foHksn dh ewyHkwr ‘krZ gS\\ ¼d½ ckt+kjksa dk i`FkDdj.k ¼[k½ ekax dh yksp esa vUrj ¼x½ ¼d½ rFkk ¼[k½ nksuksa ¼?k½ mijksDr esa ls dksbZ ugha 7. fdl ckt+kj lajpuk dh ,d eq[; fo’ks”krk oLrq&foHksn gS\\ ¼d½ iw.kZ ifz r;ksfxrk ¼[k½ vYikf/kdkj ¼x½ ,dkf/kdkj ¼?k½ ,dkf/kd`r izfr;ksfxrk mÙkj% 1. ¼x½] 2. ¼?k½] 3. ¼d½] 4. ¼d½] 5. ¼[k½] 6. ¼x½] 7. ¼?k½ CU IDOL SELF LEARNING MATERIAL (SLM)

Ckkt+kj lajpuk,a 201 9.19 lanHkZ (References) 1. Mishra, S.K. and Puri, V.K. (1998), Vyashti Arthashastra, Himalaya Publishing House Pvt. Ltd., Mumbai. 2. Ahuja, H.L. (1999), Advanced Economic Theory, S. Chand & Co., New Delhi. 3. Chopra, P.N. (1998), Micro Economic Theory and Welfare Economics, Kalyani Publishers, New Delhi. 4. Chopra, P.N. (2006), Advanced Economic Theory, Kalyani Publishers, New Delhi. 5. Lekhi, R.K., Walia, H.S. & Talwar, S.J. (2003), Micro Economics, Kalyani Publishers, New Delhi. 6. Lipsey, R.G. & Chrystal, K.A. (2004), Economics, Oxford University Press, New Delhi. 7. Lipsey, R.G. & Chrystal, K.A. (1999), Principles of Economics, Ninth Edition, Oxford University Press, New Delhi. CU IDOL SELF LEARNING MATERIAL (SLM)

?kVd 10 forj.k dk fl)kUr (Theory of Distribution) lajpuk 10.0 mÌs’; 10.1 ifjp; 10.2 yxku dk vFkZ 10.3 fjdkMksZ dk yxku fl)kUr 10.4 yxku dk vk/kqfud fl)kUr 10.5 C;kt dh ladYiuk 10.6 C;kt dk ijaijkoknh fl)kUr 10.7 uoijaijkoknh m/kkjn;s dk”s k fl)kUr 10.8 ykHk dh vo/kkj.kk 10.9 dqy ykHk rFkk okLrfod ykHk 10.10 ykHk dk tksf[ke fl)kUr 10.11 ykHk dk vfuf’prrk /kkj.k fl)kUr 10.12 lkjka’k 10.13 eq[; 'kCnkoyh

forj.k dk fl)kUr 203 10.14 f’k{k.k xfrfof/k 10.15 o.kuZ kRed iz’u 10.16 cgqfodfYi; iz'u 10.17 lanHkZ 10.0 mÌs’; (Objectives) vki bl v/;k; ds v/;;u ds ckn fuEu fo”k;ksa dks le> ldsxa s% z fjdkMksZ dk yxku fl)kUr z yxku dk vk/kqfud fl)kUr z C;kt dk vFkZ z dqy C;kt vkSj 'kq) C;kt z C;kt dk ijaijkoknh fl)kUr z C;kt dk uoijaijkoknh m/kkjns; dk\"s k fl)kUr z ykHk dh vo/kkj.kk z dqy ykHk rFkk okLrfod ykHk z ykHk dk tksf[ke fl)kUr] rFkk z ykHk dk vfuf'prrk fl)kUr 10.1 ifjp; (Introduction) izLrqr v/;k; eas forj.k ls gekjk vfHkikz ; jk”Vªh; vk; ds mRiknu ds lk/kukas esa dk;kZRed forj.k ls gSA bl v/;k; esa ge mRiknu ds lk/kuksa dks feyus okyh lk/ku vk; & yxku] C;kt rFkk ykHk ds vFkZ rFkk buds ckjs esa fofHkUu vFkZ’kkfL=;ksa ds n`f”Vdks.k dk foLrkj ls o.kZu djsxa sA CU IDOL SELF LEARNING MATERIAL (SLM)

204 O;f”V vFkZ’kkL= & I 10.2 yxku dk vFkZ (The Meaning of Rent) yxku ‘kCn ds vFkZ ij vFkZ’kkL=h Hkh ,der ugha gSA bl lEcU/k eas fo’ks”k :i ls mYys[kuh; er gS% çFke] ijaijkoknh vFkZ’kkfL=;ksa dk rFkk f}rh;] vk/kqfud vFkZ’kkfL=;ksa dkA ijaijkoknh vFkZ’kkfL=;ksa dk er (The View of Classical Economists) ijia jkoknh vFk’Z kkfL=;ksa us yxku dks Hkwfe dk çfrQy ekuk gS vkSj bldh ifjHkk”kk blh –f”Vdks.k ls nh gSA bl –f”V ls fjdkMkZs (Ricardo) dh yxku dh ifjHkk”kk mYys[kuh; gSA fjdkMksZ ds vuqlkj% ^yxku i`Foh ds mRiknu dk og Hkkx gS tks HkwLokfe;ksa dks Hkwfe dh ekSfyd (original) rFkk vfouk’kh (indestructible) ‘kfDr;ksa ds ç;ksx ds miy{; esa fn;k tkrk gSA1 yxku dh bl ifjHkk”kk ls ;g Li”V gS fd fjdkMksZ yxku ‘kCn dk cgqr lda qfpr vFkZ xzg.k djrs FksA muds vuqlkj Hkfw eifr dks Hkwfe dh dsoy ekSfyd rFkk v{k;’khy xq.kksa ds fufeÙk ^’k)q mRiknu* ls tks dqN çkIr gksrk gS] cl ogh yxku dh ifjHkk”kk esa vkrk gSA ijUrq D;ksafd Hkwfe dh ‘kfDr;ka ;k xq.k] /kwi] jks’kuh] ty tSls dbZ ç—fr çnÙk migkjksa ij fuHkZj djrs gaS blfy, bl ifjHkk”kk dk vkSj foLrkj djds bu ^migkjksa* dks Hkh ‘kkfey fd;k tk ldrk gSA ek’kyZ (Marshall) us rFkk muds vuq;kf;;ksa us ;gh fd;k gSA ek’kZy ds vuqlkj] ßHkwfe vkSj vU; ç—fr nÙk fueZwY; migkjksa ls çkIr gksus okyh vk; lk/kkj.kr;k yxku dgykrh gSAÞ vk/kqfud vFkZ’kkfL=;ksa dk er (The View of Modern Economists) tgk¡ ijaijkoknh vFk’Z kkfL=;ksa dk ;g fo’okl Fkk fd yxku dsoy Hkwfe dks çkIr gksrk gS ogk¡ vk/kqfud vFkZ’kkL=h ;g ekurs gSa fd yxku mRiknu ds fdlh Hkh lk/ku dks çkIr gks ldrk gSA tksu jksfcUlu (John Robinson) ds vuqlkj] ßfdlh Hkh lk/ku ds ,d fo’ks”k vax dks fdlh dk;Z fo’ks”k esa yxs jgus ds fy, çsfjr djus gsrq ftruh U;wure vk; nsuk vko’;d gS] mlls vf/kd mls tks çkIr gksrk gS og yxku gSAÞ2 ckfs YMax (Boulding) ds vuqlkj] 1. “Rent is that portion of the produce of the earth which is paid to the landlord for the original and indestrucitibale powers of the soil.” David Ricardo, Principles of Political Economy and Taxation, p. 47. 2. “The essence of the conception of rent is the conception of a surplus earned by a particular part of a factor of production over and above the minimum earnings necessary to induce it to do its work.” Joan Robinson, The Economics of Imperfect Competition (London, edition 1961), p. 102. CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 205 ßfdlh Hkh mRiknu bdkbZ dks vius ekStwnk dk;Z esa cuk, j[kus ds fy, tks U;wure vk; nsuk vko’;d gS mlls Åij ml bdkbZ dks tks çkIr gksrk gS og mldk yxko gSAÞ3 vk/kqfud vFkZ’kkfL=;ksa ds vuqlkj] fdlh Hkh mRiknu lk/ku dks vius ekStwnk dk;Z esa cuk, j[kus ds fy, de ls de bruk rks vo’; nsuk gh iMs+xk tks mls nwljs lcls csgrj oSdfYid ç;kxs (next best alternative use) eas çkIr gksrk gSA ;fn ektS wnk dk;Z esa mls bl jkf’k ls vfrfjDr jkf’k (surplus income) çkIr gksrh gS rks ;g vfrfjDr jkf’k mldk yxku gSA mnkgj.k ds fy,] eku ys fd dksbZ foKku dk v/;kid dk;Z djus ds fy, de ls de 4,000 #i, çfr ekl pkgrk gSA vc ;fn fdlh dkj.k ls foKku ds v/;kidksa dh ekax c<+ tkrh gS vkSj ;g v/;kid 4,500 #i, çfr ekl ikus esa lQy gks tkrk gS rks 500 #i, dh tks vfrfjDr vk; gks jgh gS og ml O;fDr dk yxku gSA bl çdkj yxku dh çkfIr mRiknu ds fdlh Hkh lk/ku dks gks ldrh gSA 10.3 fjdkMksZ dk yxku fl)kUr (Ricardo’s Theory of Rent) MsfoM fjdkMksZ ijaijkoknh vFkZ’kkL=h FksA bUgksaus loZçFke yxku dh leL;k ij dkQh foLrkj ds lkFk fopkj dj ,d lw=c) fl)kUr çfrikfnr fd;k Fkk ftls u dsoy çfrf”Br fopkj/kkjk ds vFkZ’kkfL=;ksa ls ekU;rk feyh oj.kk bls vFkZ’kkL= txr esa yxku fu/kkZj.k ds lgh fl)kUr ds :i esa dkQh le; rd Lohdkj fd;k x;kA fjdkMksZ us yxku dks ‘kq) mRiknu esa ls Hkwfe dk iqjLdkj ekuk gSA muds vuqlkj yxku Hkwfe ds mRiknu dk og Hkkx gS tks HkwLokeh dks Hkwfe dh ekSfyd vkSj vfouk’kh ‘kfDr;ksa ds fy, fn;k tkrk gSA fjdkMksZ us yxku fl)kUr rdZ dk lgkjk ysdj çfrikfnr fd;k FkkA mlds vuqlkj] ekuo ds çR;sd ns’k esa —f”k dk;Z ds fodkl dh çkjafHkd voLFkk esa loZJ”s B Hkfw e ij gh —f”k dh FkhA tc rd mÙke Hkwfe çpjq ek=k esa miyC/k jgh rc rd fdlh Hkh O;fDr us de vPNh Hkwfe ij [ksrh ugha dh gksxhA bl voLFkk esa loZJs”B Hkwfe gh lhekUr Hkwfe Fkh vkSj ml ij dksbZ yxku ugha FkkA dkykarj esa tula[;k esa o`f) ds lkFk [kk| inkFkksaZ dh ekxa esa o`f) gqbZA [kk|lkexzh dh c<r+ h gqbZ ekax dks iwjk djus ds fy, igys rks ekuo us [kkst [kkst dj Js”Bre Hkwfe ij gh [ksrh dh ijUrq tc ,slh Hkwfe Hkjh gqbZ tula[;k dh [kk| lEcU/kh vko’;drkvksa dks iwjk djus ds fy, de iM+us yxh rks ekuo us foo’k gksdj nlw jh J.s kh dh Hkwfe ij [ksrh 3. “Economic rent may be defined as any payment to a unit of factor of production, which is in excess of the minimum amount necessary to keep the factor in its present occupation.” Kenneth E. Boulding, Economic Analysis (London, 1955), pp. 211-2. CU IDOL SELF LEARNING MATERIAL (SLM)

206 O;f”V vFkZ’kkL= & I djuk çkjaHk fd;kA nlw jh Js.kh dh Hkwfe ij çFke Js.kh dh Hkwfe ds cjkcj gh Je vkSj iwath yxkus ij vis{kk—r de mRiknu gksrk gSA fjdkMksZ dk fopkj Fkk fd çFke vkSj f}rh; Js.kh;ksa dh Hkwfe ds mRiknu esa vUrj dk dkj.k mudh ekSfyd vkSj vfouk’kh ‘kfDr;ksa dk vUrj gksuk gSA tc dsoy çFke vkSj f}rh; Jsf.k;ksa dh Hkwfe ij gh [ksrh gksrh Fkh] ml le; nwljh Js.kh dh Hkwfe lhekUr Hkfw e vkjS çFke Js.kh dh Hkwfe vf/k&lhekUr Hkwfe Fkh vkSj nksuksa dh mit ds vUrj dk ewY; gh çFke Js.kh Hkwfe dk vkfFkZd yxku FkkA Lej.k jgs fd tc f}rh; Js.kh dh Hkwfe ij —f”k gksus yxrh gS rks çFke Js.kh dh Hkwfe ij —”kdksa dks vfrjsd mRiknu (surplus production) çkIr gksus yxrk gSA fjdkMksZ ds vuqlkj ;gh yxku gksrk gSA tula[;k esa ‘kuS% ‘kuS% vkSj vf/kd o`f) gksus ij tc [kk| lkexzh dh ekax bruh vf/kd c<+ tkrh gS fd mls çFke vkjS f}rh; Js.kh dh Hkwfe ds —f”k mRiknu ls iwjk dj ikuk vlHa ko gks tkrk gS rks ykxs ksa dks —f”k ds fy, mÙkerk dh –f”V ls rr` h; J.s kh dh Hkwfe ij [ksrh çkjaHk djuh iM+rh gSA tc fdlh ns’k vFkok {ks= esa r`rh; Js.kh dh Hkwfe ij Hkh [ksrh gksus yxrh gS rks f}rh; Js.kh dh Hkwfe Hkh lhekUr Hkwfe ls vf/kd lhekUr Hkwfe gks tkrh gS vkjS r`rh; Js.kh dh Hkwfe lhekar vkSj yxkufgu Hkwfe gks tkrh gSA Lej.k jgs fd r`rh; J.s kh dh Hkwfe çFke vkSj f}rh; Js.kh dh Hkwfe ij yxkbZ tkusokyh Je vkSj iwath dh ek=k ds cjkcj gh Je vkSj iwta h yxkus ij nksuksa çdkj dh Hkwfe ls de mRiknu gksxkA bl çdkj r`rh; Js.kh dh Hkfw e ij —f”k dk;Z çkjaHk gksrs gh çFke Js.kh dh Hkwfe ij yxku c<+ tk,xk vkSj ;g çFke vkSj r`rh; Js.kh dh Hkwfe ij gksus okys mRiknu esa vUrj ds cjkcj gkxs kA f}rh; Js.kh dh Hkwfe ij] tks Js.kh igys yxkughu Hkwfe Fkh] yxku mRiUu uk gks tk,xk vkSj og f}rh; rFkk r`rh; Js.kh dh Hkwfe ij gkus s okys mRiknu eas vUrj ds cjkcj gksxkA la{ksi esa] fjdkMksZ ds vuqlkj yxku lhekUr Hkwfe ij mRiknu dh rqyuk esa vf/k&lhekUr Hkwfe ij vfrjsd mRiknu ds cjkcj gksrk gSA tSls&tSls tula[;k esa o`f) gksrh gS] [kk| lkexzh dh ekax Hkh c<+rh gS vkSj ekuo dks foo’k gksdj mÙkerk dh –f”V ls Øe’k% fuEu ls fuEure Js.kh dh Hkwfe dks [ksrh ds fy, Lohdkj djuk gksrk gS ftlds dkj.k vkfFkZd yxku esa fujarj c<+us dh ço`fÙk gksrh gSA tSlkfd Åijfyf[kr rdZ ls Li”V gS] fjdkMksZ ds vuqlkj yxku moZjrk eSa vUrj (differential fertility) dk ifj.kke gSA çFke Js.kh dh Hkwfe lokZf/kd moZj gS] f}rh; Js.kh dh mlls de rFkk r`rh; Js.kh dh mlls Hkh deA CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 207 yxku dk eki Li”V djus ds fy, fjdkMksZ us ,d uohu mifuo’s k dk mnkgj.k fn;k gSA eku yhft, fd bl ns’k esa A, B vkSj C rhu çdkj dh Hkwfe gAS bleas A loksZÙke] B Hkwfe nwljh Js.kh dh vkSj C Hkwfe lcls fu—”V gSA tc nwljs {k=s ksa ls yksx vkdj bl ns’k esa clrs gSa rks lcls igys os A Hkwfe ij [ksrh djrs gSAa ;g cgqr LokHkkfod gS D;ksafd çR;sd O;fDr ml Hkwfe ij gh —f”k djuk pkgsxk ftl ij de ykxr ij mRiknu dj lduk laHko gksA eku yhft, A Hkwfe ds ,d gSDVs;j ds VqdM+s ij dqN fuf’pr Je vkSj iwath (4,000 #i, ds cjkcj) yxkus ij 10 fDoaVy xsgw¡ dk mRiknu gksrk gSA bl fLFkfr esa xsgw¡ dh dher 400 #i, çfr fDoaVy gksxhA A Hkwfe dh çpqjrk vkSj tula[;k dh deh ds dkj.k tc rd ;g Hkwfe lHkh dks eupkgh ek=k esa feyrh jgsxh rc rd A Hkwfe ij dksbZ yxku ugha gksxkA bl ns’k esa tula[;k c<+us ij tc A Js.kh dh laiw.kZ Hkwfe [ksrh ds vUrxZr vk tkrh gS rks [kk| lkexhz dh c<+rh gqbZ ekax dks B Js.kh dh Hkwfe ij [ksrh djds iwjk fd;k tkrk gSA tSls gh B Hkwfe ij [ksrh çkjHa k gksrh gS] A Hkwfe vf/k&lhekar vkSj B Hkwfe lhekar gks tkrh gSA eku yhft, fd B Hkwfe ds ,d gDS Vs;j ds VqdM+s ij Je vkSj iwta h dh mruh gh ek=k yxkus ij ftruh dh A Hkwfe ij yxkbZ tkrh gS 8 fDoaVy xsgw¡ dk mRiknu gksrk gS rks A Hkfw e ij 10 – 8 = 2 fDoaVy dk vfrfjä mRiknu gqvkA bl fLFkfr esa xsgw¡ dh dher B Hkwfe dh mRiknu ykxr ds vk/kkj ij vk/kkfjr gksxh tks 4,000/8 = 500 #i, çfr fDoaVy gSA bl fLFkfr esa A Hkfw e ds ,d gSDVs;j dk yxku 2 fDoaVy vfrfjä mRiknu dk ekSfæd ewY; gksxk tks 2 × 500 = 1,000 #i, gSaA ;fn tula[;k eas o`f) dk Øe pyrk jgrk gS rks [kk| dh c<+rh gqbZ ekax dks iwjk djus ds fy, yksxksa dks C Js.kh dh Hkwfe ij [ksrh djuh iM+sxhA bl fLFkfr esa C Js.kh dh Hkwfe lhekar Hkwfe gks tk,xhA bl Hkfw e ij ;fn çfr gDS Vs;j mRiknu 5 fDoaVy gS rks xsgw¡ dh dher 4,000 / 5 = 800 #i, çfr fDoaVy gkxs hA vc B J.s kh dh Hkwfe Hkh vf/k&lhekar gks tk,xh vkSj bl ij yxku 8 – 5 = 3 fDoaVy vFkok 3 × 800 = 2,400 #i, çfr gSDVs;j gksxkA A Js.kh dh Hkwfe dk yxku c<+dj 10 – 5 = 5 fDoaVy vFkok 5 × 800 = 4,000 #i, çfr gSDV;s j gks tk,xkA C Hkwfe lhekUr gSA bl ij fdlh çdkj dk ^fo’ks”kd ykHk* (differential advantage) çkIr ugha gksrkA blfy, bl ij dksbZ yxku ugha gksxkA CU IDOL SELF LEARNING MATERIAL (SLM)

208 O;f”V vFkZ’kkL= & I yxku fu/kkZj.k dks js[kkfp= 10.1 dh lgk;rk ls Hkh Li”V fd;k tk ldrk gSA A Js.kh B Js.kh C Js.kh Y Y Y MC MC MC AC AC ykxr o vkxe H dher I dher P3 RG P2 K AC J MT LS P1 O Q1 Q2Q3 XO Q1 Q2 XO Q1 X ek=k ek=k ek=k js[kkfp= 10.1: fjdkMksZ ds fl)kUr ds vuqlkj yxku dk fu/kkZj.kA bl js[kkfp= esa geus ;g ekuk gS fd ns’k ds ikl rhu Jsf.k;ksa dh Hkwfe gS A, B rFkk CA A J.s kh loksZÙke gS rFkk C J.s kh lhekUr Hkwfe gSA çkjaHk esa tc ekax de gS rks yksx dsoy A J.s kh dh Hkwfe ij xgs w¡ dh [ksrh djrs gSaA pawfd i.w kZ çfr;ksfxrk dh fLFkfr esa fu/kkfZ jr dher lhekUr ykxr vkjS vkSlr ykxr ds cjkcj gkrs h gS blfy, xsgw¡ dh OP dher fu/kkZfjr gksxhA Li”V gS fd bl dher ij A bl Js.kh dh Hkwfe 1 ij dksbZ yxku ugha gksxkA vc tula[;k c<+us ij tc xsgw¡ dh ekxa bruh c<+ tk,xh dh B Js.kh dh Hkwfe ij Hkh [ksrh djuk vko’;d gks tk,xk rks xsgw¡ dh dher B J.s kh dh Hkwfe ij lhekUr ykxr vkSj vkSlr ykxr ds cjkcj gks tk,xhA vFkkZr vc dher OP gks tk,xhA vc A Js.kh dh Hkwfe ij yxku dk mn; 2 gkxs k ftldk eki fuEu çdkj ls fd;k tk ldrk gS% yxku = dqy vkxe – dyq ykxr ¼A J.s kh dh Hkwfe ij½ = dher × mRiknu – vkSlr ykxr × mRiknu ¼A J.s kh dh Hkwfe ij½ = OP × OQ – OM × OQ 22 2 = OP KQ – OMLQ 22 2 = P KLM 2 bl çdkj A J.s kh dh Hkwfe ij yxku P KLM ds cjkcj gSA 2 CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 209 vc eku ys dh xsgw¡ dh ekax vkSj c<+ tkrh gS ftlls C Js.kh dh Hkwfe ij Hkh [ksrh djuh iM+rh gS ¼C J.s kh dh Hkwfe fu—”Vre ;k lhekra Hkfw e gS½A ,slk gksus ij xsgw¡ dh dher c<+dj OP gks tk,xh tks 3 C Js.kh dh Hkwfe ij mRiknu ykxr gSA vc B J.s kh dh Hkwfe ij yxku dk mn; gksxk vkSj tSlk dh js[kkfp= 10.1 ls ns[kk tk ldrk gS] ;g yxku GHIJ (= OGHQ – OJIQ ) ds cjkcj gksxkA A Js.kh dh Hkwfe 22 ij yxku c<+dj P RST (= OP RQ – OTSQ ) ds cjkcj gks tk,xkA 3 33 1 fjdkMksZ ls igys ds vFkZ’kkL=h] fo’k”s k :i ls ,Me fLeFk (Adam Smith) rFkk Ýkal ds ç—froknh vFkZ’kkL=h (physiocrats) ;g ekurs Fks fd yxku dk dkj.k Hkfw e dks bZ’oj }kjk nh xbZ dqN fo’ks”krkvksa dk ifj.kke gS] vFkkZr yxku ç—fr dh mnkjrk (bountifulness of nature) dk ifj.kke gSA ijUrq fjdkMksZ ds fl)kUr esa yxku ç—fr dh mnkjrk dk ugha vfirq —i.krk ;k datwlh dk ifj.kke gSA ;fn mi;qDr ek=k esa Js”B fdLe dh Hkfw e miyC/k gks rks yxku gks gh ugha ldrkA yxku blfy, iSnk gksrk gS fd tul[a ;k c<u+ s +¼vkSj ekax c<u+ s½ ds dkj.k ekuo dks Øe’k% lkisf{kd :i ls fu—”V Hkwfe;kas ij [ksrh djuh iM+rh gSA fjdkMksZ ds fl)kUr dh ekU;rk,a (Assumptions of Ricardian Theory) fjdkMksZ dk yxku fl)kUr dqN ,slh ekU;rkvksa ij vk/kkfjr gS tks fooknkLin gSA bl fl)kUr dh eq[; ekU;rk,a fuEufyf[kr gS% 1. fjdkMksZ us ,d lhekUr Hkwfe ;k yxkughu Hkwfe ds vfLrRo dks Lohdkj fd;k gSA blds vk/kkj ij gh vU; Hkwfe;ksa ij yxku fu/kkZfjr gksrk gSA vkt ds ;qx esa lhekar Hkwfe dh ladYiuk vokLrfod gSA 2. fjdkMksZ ds vuqlkj Hkwfe esa dqN ekSfyd vkSj vfouk’kh xq.k gksrs gSa vkSj yxku bUgha xq.kksa dk çfrQy gSA 3. fjdkMksZ ds vulq kj Hkwfe dk fof’k”V xq.k ;g gS fd og nqyHZ k (scarce) gksrh gSA Hkwfe ds bl fof’k”V xq.k ds dkj.k gh mUgksaus yxku dks dsoy Hkwfe ls lecfU/kr fd;k gSA 4. fjdkMksZ ds fopkj ls ekuo us loZçFke moZjk ‘kfDr rFkk fLFkfr dh –f”V ls Js”Bre Hkwfe ij gh —f”k dh FkhA dsoy tc mlus ;g ik;k fd bl Hkwfe dh vkiwfrZ [kk| lkexzh dh ekax dks iwjk djus ds fy, dkQh ugha gS]mlus fu—”V Hkwfe VqdMk+ sa ij [ksrh djuk ‘kq: dhA CU IDOL SELF LEARNING MATERIAL (SLM)

210 O;f”V vFkZ’kkL= & I 5. fjdkMksZ dh ;g Hkh ekU;rk Fkh fd yxku fofHkUu Hkwfe [k.Mks dh fdLe esa vUrj ds dkj.k iSnk gksrk gSA ;fn lkjh Hkwfe mÙkerk dh –f”V ls ,d tSlh gks rks yxku ugha gks ldrkA fjdkMksZ ds yxku fl)kUr dk vkykspukRed ewY;kadu (Critical Appraisal of the Ricardian Theory of Rent) fjdkMksZ ds yxku fl)kUr dh çeq[k vkykps uk,a fuEufyf[kr gS% 1. yxku Hkwfe dh dsoy ekSfyd rFkk vfouk’kh ‘kfDr;ksa dk gh çfrQy ugha gksrk% fjdkMksZ ds erkuqlkj yxku Hkwfe dh ekSfyd rFkk vfouk’kh ‘kfDr;ksa ds dkj.k HkwLokeh dks çkIr gksrk gAS vkykspd bl –f”Vdks.k dks lgh ugha ekursA vusd vkykspdksa dk rdZ gS fd moZjrk lnSo Hkwfe dh ekSfyd vkSj vfouk’kh ‘kfDr ugha gksrkA 2. fjdkMksZ us —f”k ds ,sfrgkfld Øe dks lgh ugha le>k% vesfjdh vFkZ’kkL=h gSujh dsjs (Henry Carey) rFkk teZu vFkZ’kkL=h jks’pj (Wilhelm Roscher) dk fopkj gS fd fjdkMksZ us —f”k ds lEcU/k esa tks ,sfrgkfld Øe cryk;k gS] og vokLrfod vkSj xyr gSA fjdkMksZ ds vuqlkj çR;sd u, clus okys mifuos’k esa ekuo us igys loksZÙke Js.kh dh Hkwfe ij [ksrh dh Fkh vkSj tc rd vPNh Hkwfe feyrh jgh] ekuo us [kjkc Hkwfe ij [ksrh ugha dhA dsjs vkSj jks’pj fjdkMkZs ls bl fo”k; ij vlger gaSA mudk dguk gS fd u, mifuos’k esa tc yksx clus ds fy, igqaprs gSa rks mUgsa ;g Kku ugha gksrk fd ml {ks= esa loZJs”B Hkwfe dkSu lh gSA çk;% yksx tks Hkh Hkwfe mUgsa ljyrk ls miyC/k gks tkrh gS vkSj dqN lkQ fn[kykbZ iMr+ h gS] mlh ij cl tkrs gSa vkjS —f”k djrs gSaA la{ksi esa] dsjs vkSj jks’pj ds vuqlkj fjdkMkZs dh ;g / kkj.kk xyr gS fd ekuo us igys mÙke Hkwfe ij vkSj ckn esa fuEu Js.kh dh Hkwfe ij [ksrh dhA 3. fjdkMksZ dh yxkughu Hkwfe dh /kkj.kk vokLrfod% fjdkMksZ ds erkuqlkj lhekUr Hkwfe yxkughu Hkwfe gksrh gS ijUrq okLrfodrk ;g gS fd vk/kqfud dky esa fodflr vkSj vkf’kad :i ls fodflr ns’kksa esa dHkh dksbZ Hkwfe ,slh ugha gksrh ftl ij dNq Hkh yxku u fy;k tkrk gksA vr,o vkykspdksa dk er gS fd yxkughu Hkwfe dh /kkj.kk lgh ugha gSA 4. fjdkMksZ }kjk yxku dks dsoy Hkwfe ls lEcfU/kr djuk ;qfDrlaxr ugha gS% vk/kqfud vFkZ’kkfL=;ksa ds vuqlkj yxku dks Hkwfe ds lkFk lEcfU/kr djuk ;qfDrlaxr ugha gSA tksu jksfcUlu] cksfYMax vkfn ds vuqlkj yxku mRiknu ds lHkh lk/kuksa dks çkIr gks ldrk gSA oLrqr% yxku ds mn; dk dkj.k lk/ku fo’ks”k dh csyksp dh iwfrZ gksrh gSA tc fdlh le; lk/ku fo’ks”k dh ekax c<+ tkrh gS vkSj vYidky CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 211 esa mldh iwfrZ c<+k ikuk laHko ugha gksrk rks og lk/ku ml U;wure vk; ls] ftl ij dk;Z djus ds fy, og rRij gks ldrk Fkk] dqN vf/kd vk; vftZr djus esa lQy gks tkrk gSA vk/kqfud vFkZ’kkL=h blh vfrfjDr vk; dks yxku dgrs gSAa mudk er gS fd yxku Hkwfe dh Hkkfa r Je] iwath çcU/k vkfn lk/kuksa ds }kjk Hkh vftZr fd;k tkrk gSA fjdkMksZ ds yxku fl)kUr dh fofHkUu vkykspuk,a gksus ij Hkh blesa lansg ugha gS fd bldk vFkZ’kkfL=;ksa ds fopkjksa ij O;kid çHkko iM+k gSA vFkZ’kkL=h ts-,l- fey (J.S. Mill) dk fjdkMksZ ds yxku fl)kUr ds vk/kkj ij gh fopkj Fkk fd yxku ds mRiUu djus esa HkwLokeh dk dksbZ ;kxs nku ugha gksrk blfy, jkT; dks dj yxkdj laiw.kZ yxku olwy dj ysuk pkfg,A fjdkMksZ ds yxku fl)kUr ds vk/kkj ij gh gsujh tktZ (Henry George) yxku dks vuSfrd vkSj lHkh lkekftd nks”kksa dh tM+ ekurs FksA 10.4 yxku dk vk/kqfud fl)kUr (Modern Theory of Rent) yxku dk vk/kqfud fl)kUr fjdkMksZ ds yxku fl)kUr ls bl –f”V ls fHkUu gS fd tgka fjdkMksZ dk fopkj Fkk fd yxku dsoy Hkfw e }kjk vftZr fd;k tkrk gS ogka vk/kqfud fl)kUr ds vuqlkj ;g mRiknu ds çR;sd lk/ku dks çkIr gks ldrk gSA yfs du ;fn vkfFkZd yxku ds ç’u dks xgjkbZ ls tkdj ns[kk tk, rks ;g Li”V gks tkrk gS fd yxku dk vk/kqfud fl)kUr fjdkMksZ ds fl)kUr dk ifj”—r vkSj lk/kkj.kh—r :i gSA tkus jksfcUlu us fdlh Hkh lk/ku dh bdkbZ fo’ks”k dks O;olk; esa j[kus ds fy, vko’;d U;uw re çfrQy dks gLrkarj.k vk; (transfer earning) dgk gSA4 tc Hkh O;olk; fo’ks”k esa fdlh lk/ku dh bdkbZ fo’ks”k dks mldh gLrkarj.k vk; ls de çfrQy nsus dk ç;kl fd;k tk,xk og orZeku O;olk; dks NksM+dj nwljs O;olk; eas tkus dh ço`fÙk fn[kyk,xhA rkRi;Z ;g gS fd O;ogkj esa fdlh Hkh lk/ku dh fdlh Hkh bdkbZ dks mldh gLrkarj.k vk; ls de ij dke esa yxk ikuk laHko ugha gksxkA ysfdu lHkh lk/kuksa ds çfrQy mudh vyx&vyx gLrkarj.k vk; ds cjkcj ;k mlls vf/kd gks ldrs gSaA tc Hkh fdlh lk/ku dk çfrQy mldh gLrkarj.k vk; ls vf/kd gksrk gS] mlesa yxku dk rRo ekStwn jgrk gS vkjS ;g gLrkarj.k vk; ds Åij vfrjsd çfrQy ds cjkcj gksrk gSA bl çdkj yxku dks fuEu :i esa ifjHkkf”kr fd;k tk ldrk gSA 4. Joan Robinson, op. cit., p. 104. CU IDOL SELF LEARNING MATERIAL (SLM)

212 O;f”V vFkZ’kkL= & I fdlh Hkh mRiknu ds lk/ku dks çkIr gksus okyh okLrfod vk; vkSj gLrkarj.k vk; esa vUrj yxku gSaA vFkkZr yxku = okLrfod vk; – gLrkarj.k vk;A5 O;ogkj eas çk;% lHkh lk/kuksa dh fofHkUu bdkb;ksa dks çkIr gksus okyh okLrfod vk; esa gLrkarj.k vk; vkjS yxku nksuksa lfEefyr gksrs gSaA ysfdu mi;qZDr lw= dh lgk;rk ls okLrfod vk; esa yxku dk va’k lgt gh ekywe fd;k tk ldrk gSA ge rhu fHkUu fLFkfr;ksa esa yxku dh jkf’k Kkr djsaxsA lk/ku fo’ks”k dh iwfrZ dh yksp vkSj vkfFkZd yxku (Elasticity of Supply of a Factor and Rent) vkfFkZd yxku dk lk/ku fo’ks”k dh iwfrZ dh yksp ds lkFk xgjk lEcU/k gSA bls Li”V djus ds fy, ge rhu fLFkfr;ksa ij fopkj djsaxsA ;s fLFkfr;ka gSa% (i) tc fdlh lk/ku dh iwfrZ iw.kZ :i ls csyksp (inelastic) gS] (ii) tc fdlh lk/ku dh iwfrZ iw.kZ :i ls ykspnkj (perfectly elastic) g]S vkSj (iii) tc fdlh lk/ku dh iwfrZ ykps nkj rks gS ysfdu iw.krZ ;k ykspnkj ugha gSA 1. iw.kZr;k csyksp iwfrZ% lcls igys ge ,slh fLFkfr ij fopkj djrs gSa ftlesa lk/ku fo’ks”k dh iwfrZ iw.kZr;k csyksp gSA O;ogkj esa ,slk rHkh laHko gkrs k gS tc lk/ku fo’ks”k iw.kZr;k fof’k”V gksrk gSA vfHkçk; ;g gS fd lk/ku fo’ks”k dk tc ,d gh mi;ksx gksrk gS rks mldh ifw rZ LFkhj gksrh gAS bl fLFkfr esa lk/ku dh gLrkarj.k vk; vFkok volj ykxr ‘kwU; gksrh gSaA blfy, lk/ku dks çkIr gksus okys laiw.kZ çfrQy vkfFkZd yxku gksrk gSA js[kkfp= js[kkfp= 10.2: laiw.kZ vk; yxku gSA 10.2 bl fLFkfr dks fn[kk;k x;k gSA j[s kkfp= esa lk/ku fo’ks”k dh ekax oØ DB rFkk mldk iwfrZ oØ lh/kh yac js[kk (vertical straight line) ST gSA iwfrZ oØ lh/kh yacor js[kk gksus dk vFkZ ;g gS fd dher pkgs tks Hkh gks iwfrZ vifjofrZr (= OT) gh jgsxhA vFkkZr iwfrZ iw.kZr;k csyksp gSA lk/ku fo’ks”k ds ekax vkSj ifw rZ oØ ,d nlw js dks R fcUnq ij dkVrs gSa blfy, ;g 5. Rent is the difference between the actual earning of a factor of production and its transfer earning, Thus, rent = present earning – transfer earnings. CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 213 lUrqyu dk fcanq gksxkA lkE; dher OP fu/kkZfjr gksxh vkSj bl lkE; dher ij lk/ku dh ekax vkSj iwfrZ OT fu/kkZfjr gksxhA ;fn dher de dj nh tkrh gS rks Hkh iwfrZ iow Zor~ cuh jgsxh vkSj lk/ku dh ,d bdkbZ Hkh mRiknu çfØ;k dks NksM+dj ugha tk,xhA D;ksafd dksbZ gLrkarj.k ugha gksxk blfy, gLrkarj.k vk; ‘kwU; gksxh vFkkZr laiw.kZ vk; (= OPRT) yxku gkxs hA bl vkfFkZd yxku dks fo’kq) vkfFkZd yxku (pure economic rent) dgk tkrk gSA ftl lk/ku dh vkiwfrZ iw.kZr;k fuf’pr csyksp gks lds çfrQy dks fo’kq) vkfFkZd yxku dgk tkrk gSA6 ,slk lkspk tk ldrk gS fd tc dksbZ lk/ku Lo;a dks fdlh oSdfYid ç;ksx esa yxk gh ugha ldrk rks mldh dher ‘kwU; gksxhA ijUrq ;g lksp xyr gSA njvly lk/ku fo’ks”k dh dher mldh ekax vkSj ifw rZ dh lkisf{kd ‘kfDr;ksa }kjk fu/kkZfjr gksxhA js[kkfp= ls Li”V gS fd ;fn lk/ku dk çfrQy ‘kwU; gksrk gS rks tgka mldh iwfrZ dsoy OT gS] ogka mldh ekax OB gksxhA pwafd OB > OT, blfy, çfrQy ‘kwU; ugha gks ldrkA tc rd lk/ku dh ekax mldh iwfrZ ls vf/kd jgsxh] çfrQy c<+sxk vkSj varr% ftl çfrQy ij ekax vkjS iwfrZ esa larqyu LFkkfir gks tkrk gS] ogh lk/ku dks fn;k tk,xkA js[kkfp= esa çfrQy nj OP gks tkus ij lk/ku fo’ks”k dh ekax vkSj ifw rZ lra qfyr gks tkrh gAS bl nj ij lk/ku dh OT ek=k dks dke fn;k tkrk gSA blfy, mldh dqy vk; OP × OT = OPRT gqbZA pwadh gLrkarj.k vk; ‘kwU; gS blfy, laiw.kZ okLrfod vk; vFkkrZ OPRT vkfFkZd yxku gqbZA 2. iw.kZr;k ykspnkj iwfrZ% vc ge ,d ,slh fLFkfr ij fopkj djsaxs ftlesa lk/ku fo’ks”k dh iwfrZ iw.kZr;k ykspnkj gSA ;g fLFkfr rc gksrh gS tc lk/ku fo’ks”k iwjh rjg ls vfof’k”V gS vkSj blfy, mls lHkh fofHkUu O;oLFkkvksa ls leku çfrQy çkIr gksrk gSA ,slh fLFkfr esa ;fn lk/ku fo’ks”k dh çfrQy dh çpfyr nj ls de nsus dk ç;kl fd;k tk, rks lk/ku oreZ ku O;olk; ls fudydj fdlh vU; O;olk; esa pyk tk,xkA blfy, mls ftruk fn;k tk jgk gS mruk gh nsrs jguk iM+xs k rkfd og fdlh vU; O;olk; eas u tk,A blfy, bl fLFkfr esa laiw.kZ vk; gh gLrkarj.k vk; gSaA vFkkZr] yxku ‘kwU; gSA js[kkfp= 10.3 esa bl fLFkfr dks fn[kk;k x;k gSA 6. The return to a factor whohse supply is completely fixed in known as pure economic rent. CU IDOL SELF LEARNING MATERIAL (SLM)

214 O;f”V vFkZ’kkL= & I js[kkfp= 10.3: lkjh vk; gLrkarj.k vk; gSA bl js[kkfp= eas DD ekax oØ gS rFkk WS ifw rZ oØ gSA bu nks oØksa dk dVku&fcUnq F, lUrqyu dk fcUnq gAS lkE; dher OW fu/kkZfjr gksrh gS vkSj bl dher ij OL lUrqyu ek=k gSA OW lkE; dher ij lk/ku fo’ks”k dh ftruh ek=k dh vko’;drk gS og çkIr gks tk,xhA ;fn dher dks tjk Hkh de djus dk ç;kl fd;k x;k rks lk/ku fdlh oSdfYid O;olk; esa pyk tk,xkA blfy, gLrkarj.k jksdus ds fy, lk/ku fo’ks”k dks OW dher rks nsuh gh iMs+xhA blfy, laiw.kZ vk; gLrkarj.k vk; gksxhA OW ls vf/kd dher nsus dh t:jr ugha gS D;ksafd mRiknd dks lk/ku fo’ks”k dh ftruh ek=k dh vko’;drk gS og ek=k mls OW dher ij gh çkIr gks tk,xhA bl çdkj bl fLFkfr eas lai.w kZ vk; OWFL gLrkarj.k vk; gSa ftlls yxku ‘kwU; gSaA 3. /kukRed <ky okyk vkiwfrZ oØ% Åij nh xbZ nkus ksa fLFkfr;ka vfrfLFkfr;ka gAS fdlh Hkh lk/ku dh iwfrZ u rks iw.krZ ;k cys ksp gksrh gS vkjS ugha iw.kZr;k ykspnkjA blfy, lk/ku dk iwfrZ oØ /kukRed <ky okyk oØ gksrk gS tSlkdh js[kkfp= 10.4 esa gSA bldk vFkZ ;g gS fd fofHkUu dherksa ij lk/ku dh vyx&vyx ek=kvksa dh vkiwfrZ miyC/k gksxhA iwfrZ oØ RS ij fopkj djsaA OP dher ij vkiwfrZ OQ gksxhA vFkkZr] lk/ku dh OQ bdkb;ka] 33 3 OP dher ij dke djus dks rRij gksaxhA vc ;fn dher c<+dj OP gks tkrh gS rks Q – Q vfrfjDr 3 2 23 bdkb;ka bl m|kxs dh vkSj vkdf”kZr gkasxhA ;fn dher vkjS c<+dj OP gks tkrh gS rks Q – Q vfrfjä 1 12 CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 215 bdkb;ka m|ksx esa dke djus dks Y S D rRij gksxa hA bldk vFkZ ;g gS fd ßtks Hkh bdkbZ geys mlds vuq:i iwfrZ oØ ij tks Hkh fcanq çkIr dher P E gksxk og ;g cryk,xk fd ml P D bdkbZ dks ml m|ksx esa cuk, P1 j[kus ds fy, fdruh U;wure P2 dher nsuk vko’;d gS ¼vFkkZr 3 R mldh gLrkarj.k vk; D;k gS½AÞ7 O Q3 Q Q Q ek=k blds vykok] tSlkdh js[kkfp= 21 10.4 ls Li”V gS] ;fn iwfrZ oØ dh <ky /kukRed gS rks bldk js[kkfp= 10.4: lk/ku dh vk; dk dqN fgLlk gLrkarj.k vk; gS vkSj dqN yxku vFkZ ;g gS fd mlls igys dh lHkh bdkb;ksa gLrkarj.k vk; de gAS ;fn lk/ku dh dyq OQ bdkb;ka dke ij yxkbZ tkrh gS rks dqy gLrkarj.k vk; OREQ gaS ¼tks iwfrZ oØ ds uhps dk {ks=Qy gS½A ekax oØ DD gS tks iwfrZ oØ dks fcUnq E ij dkVrk gSA ;g lUryq u fcUnq gAS lUryq u esa lk/ku dh ekax vkSj iwfrZ OQ gS vkSj lkE; dher OP gSA blfy, lk/ku dks okLro esa OP × OQ = OPEQ ds cjkcj vk; çkIr gksrh gSaA bl fLFkfr esa vkfFkZd yxku fuEufyf[kr gksxk% vkfFkZd yxku = okLrfod vk; – gLrkarj.k vk; = OPEQ – OREQ = PER vkfFkZd yxku PER, js[kk PE ls uhps rFkk ifq rZ oØ ls Åij dk fgLlk gSA tSlkfd Li”V gS ;g vkfFkZd yxku ,d vfrjsd (surplus) gAS ek’kZy us bls mRiknd dk vfrjsd (producer’s surplus) dgk gS & ;g lk/ku dks mldh volj ykxr ls Åij çkIr gksus okyk vfrjsd çfrQy gSA 7. Richard G. Lipsey, op. cit., p. 369. CU IDOL SELF LEARNING MATERIAL (SLM)

216 O;f”V vFkZ’kkL= & I bl çdkj] lk/ku fo’ks”k dh iwfrZ iw.kZr;k csyksp gksus ij mldh laiw.kZ okLrfod vk; yxku gksrh gS( ;fn iwfrZ iw.krZ ;k ykspnkj gksrh gS rks laiw.kZ okLrfod vk; gLrkra j.k vk; gkrs h gS vkSj yxku ‘kwU; gksrk gSA bu nks vfroknh fLFkfr;ksa ds chp iwfrZ oØ ftruk vf/kd ykspnkj gksrk gS] lk/ku dks gksus okys Hkqxrku esa yxku dk va’k mruk gh de vkSj gLrkarj.k vk; dk v’a k mruk gh vf/kd gksrk gSA bl çdkj ge fuEufyf[kr fu”d”kZ ij igaqprs gSaA iwfrZ oØ ftruk vf/kd ykspnkj gksxk] lk/ku dks Hkqxrku esa yxku dk va’k mruk gh de gksxk vkSj gLrkarj.k vk; vf/kd gksxkA8 10.5 C;kt dh ladYiuk (The Concept of Interest) lk/kkj.k Hkk”kk esa C;kt _.kh }kjk _.knkrk ds dks”k (funds) ds ç;ksx ds cnys nh tkus okyh dher gSA ijaijkoknh vFk’Z kkL=h (classical economists) ;g ekurs Fks fd tc Hkh dksbZ O;fDr m/kkj nsrk gS rks mls R;kx (sacrifice) djuk iM+rk gS vkSj bl R;kx dk mls eqvkotk feyuk pkfg,A blhfy, lhfu;j (Senior) us C;kt dks ^R;kx dk iqjLdkj* (reward for abstinence) dgk gSA bl –f”Vdks.k dh detksjh tYn gh Li”V gks xbZ] tc vFkZ’kkfL=;ksa dks ;g vglkl gqvk fd vf/kdrj iwath /kuh oxZ ds /ku o laifÙk vfrjsd (surplus wealth) ls çkIr gqbZ gS vkSj blds fy, bl oxZ us dksbZ R;kx ugha fd;k gSA blfy, ek’kZy (Marshall) us C;kt dks R;kx dk çfrQy u eku dj] çrh{kk dk çfrQy (reward for waiting) dgk gSA bjfoax fQ’kj (Irving Fisher) ds vuqlkj] yksx orZeku esa vk; dks Hkfo”; esa vk; ls vf/kd vf/keku nsrs gSaA C;kt m/kkj nsus okys O;fDr dh bl le; vf/kekurk (time preference) dk eqvkotk gS vFkkZr C;kt og /ku&jkf’k gS tks Hkfo”; dks orZeku ds gh leku cukus ds fy, nh tkrh gSA dsla (Keynes) us bu lc –f”Vdks.kksa ls vyx –f”Vdks.k çLrqr fd;k gSA muds vuqlkj] C;kt ,d ekSfæd rF; (monetary phenomenon) gS vkSj C;kt nj dk fu/kkZj.k eqæk dh ekax o iwfrZ }kjk gksrk gSA lc ifjlia fÙk;ksa esa ls eqæk lcls vf/kd rjy ifjlaifÙk (liquid asset) gS blfy, yksx mls vius ikl j[kuk pkgrs gSaA bl –f”Vdks.k ds vk/kkj ij C;kt dks fuEu :i esa ifjHkkf”kr fd;k tk ldrk gSA C;kt rjyrk dk R;kx djus dk iqjLdkj gS] vFkkZr ;g tek[kksjh u djus dk iqjLdkj gSA9 vk/kqfud vFkZ’kkL= eas C;kt dks blh :i esa ifjHkkf”kr fd;k tkrk gSA 8. “The more elastic the supply curve, the less the amount of the payment to factors that is a rent and the more that is a transfer earning.” Ibid., p. 369. 9. Interest is a reward for parting with the liquidity, in other words, a rewrd for not hoarding. CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 217 10.6 C;kt dk ijaijkoknh fl)kUr (Classical Theory of Interest) C;kt dk ijaijkoknh fl)kUr /khjs /khjs fodflr gqvk gS vkSj blds fodkl esa vusd vFkZ’kkfL=;ksa dk ;kxs nku gSA dqN fo}ku C;kt ds ijaijkoknh fl)kUr dks ^okLrfod fl)kUr* (real theory) Hkh dgrs gSa D;ksafd blds vuqlkj ^mRikndrk* vkSj ^cpr* tSls okLrfod rRoksa ds }kjk C;kt fu/kkZfjr gksrk gAS fofHkUu ijaijkoknh vFkZ’kkfL=;ksa C;kt ds fHkUu&fHkUu u dkj.k [kksts FksA mnkgj.kkFkZ] lhfu;j ds vuqlkj C;kt R;kx ds fy, fn;k tkrk gSA uo&ijaijkoknh vFkZ’kkL=h ek’kZy bls çrh{kk dk iqjLdkj crykrs gSaA fQ’kj bls le; vf/keku dk ifj.kke Lohdkj djrs gSAa ijUrq ;g lHkh fo}ku bl lEcU/k esa ,der gaS fd C;kt cpr ds fy, gh fn;k tkus okyk çfrQy gSA bl çdkj C;kt cpr dh ekax vkSj ifw rZ ds }kjk fu/kkZfjr gksus okyk rRo gSA vc ge foLrkj ds lkFk cpr dh ekax vkSj iwfrZ dh foospuk djsaxsA cpr dh ekax (Demand of Saving) cpr dh ekax mRiknd oxZ }kjk fuo’s k ds fy, dh tkrh gSA vFkZ’kkL= esa fuos’k ls rkRi;Z gS oreZ ku iwathxr eky dh ek=k esa o`f) djukA mRikndksa dks blh iwathxr eky dks [kjhnus ds fy, cpr dh vko’;drk iMr+ h gSA vc ç’u ;g mBrk gS fd bu iwathxr oLrqvksa dks [kjhnus ds fy, mRiknd cpr dh fdruh ek=k dh ekax djsaxsA iw.kZ çfr;ksfxrk dh fLFkfr esa lHkh O;fDr;ksa dh ço`fÙk ml lhek rd iwathxr oLrqvksa dks [kjhnus dh gksxh tgka ij budh lhekUr mRikndrk bUgsa [kjhnus ds fy, vko’;d cprksa ds fy, fn, tkus okys C;kt dh nj ds cjkcj ugha gks tkrhA vLrq] C;kt dh nj vf/kd gksus ij iwathxr oLrq,a [kjhnus ds fy, cprksa dh ekax de gksxh vkSj tSls&tSls C;kt dh nj esa deh gksrh tk,xh oSls&oSls iwathxr eky dh ekax c<+us ds dkj.k cprksa dh ekax Hkh c<+sxhA C;kt dh nj vkSj cpr dh ekxa esa ;g lEcU/k js[kkfp= 10.5 }kjk Li”V gSA fp= esa DD cpr dh ekax js[kk gSA cpr dh iwfrZ (Supply of Saving) ijaijkoknh fl)kUr ds vuqlkj iwathxr eky dks [kjhnus ds fy, vko’;d cpr dh ifw rZ mlh le; gks ldrh gS tc yksx viuh lEiw.kZ vk; dks miHkkxs ij O;; uk djsaA mUgsa vius orZeku miHkksx dks dqN dky ds fy, LFkfxr dj çrh{kk djuh iM+rh gAS vdkj.k dksbZ Hkh O;fDr bl çdkj dh çrh{kk djus ds fy, rRij ugha gksxk] D;ksafd lkekU;r% lHkh O;fDr;ksa dk de&vf/kd va’k esa le; vf/keku gksrk gh gSA vr,o] ;fn m|eh oxZ ;g pkgrk gS fd yksx viuh vk; dk dNq va’k cpkdj mls iwathxr eky [kjhnus ds fy, çnku CU IDOL SELF LEARNING MATERIAL (SLM)

218 O;f”V vFkZ’kkL= & I djas rks blds fy, mUgsa dNq çykHs ku nus k gkxs kA D ;g çyksHku C;kt ds :i esa gksrk gSA bl lEcU/ k esa ;g mYys[kuh; gS fd yksxksa dk le; vf/keku ftruk vf/kd gksrk gS] cpr djus ds fy, mUgsa C;kt dh mruh gh Åaph nj dk çykHs ku nsuk gksrk gSA Åaph C;kt dh nj ij yksxksa dh cpr djus dh çof` Ùk lkekU;r% rhoz gks tkrh gSA ;gh dkj.k gS fd C;kt dh Åaph nj ij cpr dh ifw rZ vf/kd S gkrs h gS vkSj bl nj ds fxjus ds lkFk&lkFk cpr dh iwfrZ Hkh de gksrh tkrh gSA bl çdkj cpr dh iwfrZ js[kk uhps ls Åij dh vkjS ckbaZ rjQ ls nkbZa js[kkfp= 10.5: C;kt dk nj fu/kkZj.k&ijaijkoknh n`f”Vdks.k rjQ mBrh gqbZ gksrh gSA js[kkfp= 10.5 eas SS cpr dh iwfrZ js[kk gSA C;kt nj dk fu/kkZj.k (Determination of Rate of Interest) dher fu/kkZj.k ds lkekU; fl)kUr ds vuqlkj lHkh oLrqvksa dh dhersa mudh ekax vkSj iwfrZ ds lUrqyu }kjk fu/kkZfjr gksrh gSA C;kt Hkh blh çdkj _.kh oxZ dh iwathxr eky esa fuos’k djus ds fy, cprksa dh ekax vkSj _.knkrk oxZ }kjk cPkrksa dh iwfrZ ds e/; lUrqyu }kjk fu/kkZfjr gksrk gSA js[kkfp= 10.5 eas OR C;kt dh nj ij cpr dh ekax vkSj iwfrZ ds e/; lUryq u gSA vr% eqæk cktkj esa C;kt dh ;gh nj fu/kkZfjr gksxhA ijaijkoknh fl)kUr dh vkykspuk,a (Criticisms of classical Theory) C;kt ds ijaijkoknh fl)kUr ds çeq[k vkykspd dsal gSA mUgksaus bl fl)kUr esa eq[; :i ls fuEufyf[kr ikap nks”k cryk, gSa% 1. C;kt dk ijaijkoknh fl)kUr iw.kZ jkstxkj dh vokLrfod ekU;rk ij vk/kkfjr gSA MMys fMykMZ (Dudley Dellard) ds vuqlkj% ßi.w kZ jkstxkj dh ekU;rk ij vk/kkfjr fl)kUr ds vUrxZr C;kt dks çrh{kk CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 219 vFkok R;kx dk iqjLdkj Lohdkj djusokyh /kkj.kk vR;f/kd ;qfDrlaxr gSA ijUrq ;g vk/kkj gh vk/kqfud txr esa Lohdkj ugha fd;k tk ldrk fd mRiknu ds lk/ku i.w kZ :i ls mRiknu dk;ksZa esa yxs gq, gSAa Þ10 2. ijaijkoknh fl)kUr ds vuqlkj fuos’k c<+kus ds fy, miHkksx esa deh dj cprksa dks c<+kuk pkfg,A ijUrq çk;% ,slk gksrk gS fd miHkksx dh oLrqvksa dh ekax esa deh gksus ij mRiknd iwathxr oLrqvksa dh ekax esa Hkh deh dj nsrs gSaA ifj.kke ;g gksrk gS fd fuos’k grksRlkfgr gksus yxrs gSaA 3. ijaijkoknh fl)kUr ds vuqlkj C;kt dh nj esa ifjorZu }kjk gh cpr vkSj fuos’k esa lekurk LFkkfir gksrh gSA dsal bls Lohdkj ugha djrsA mudk er gS fd vk; ds Lrj esa ifjorZu }kjk gh cpr vkSj fuo’s k esa lekurk LFkkfir gks ldrh gSA 4. C;kt ds ijaijkoknh fl)kUr esa fuos’k vkSj cpr esa gksus okys ifjorZu ijLij Lora= ekus x, gSaA dsla bl –f”Vdk.s k dks xyr ekurs gSaA dsal dk er gS fd ;fn fuos’k fdlh dkj.k ls de gks tkrs gaS rks vk; dk Lrj fxj tkus ls yksxksa dh cprsa Hkh de gks tk,axhA blds foijhr] fuos’k esa o`f) ds }kjk vk; dk Lrj Åapk mBrk gS vkSj bldk ifj.kke ;g gksrk gS fd cprkas dh ek=k Hkh c<+ tkrh gSA 10.7 uoijaijkoknh m/kkjns; dks”k fl)kUr (Neoclassical Loanable Funds Theory) C;kt ds ijaijkoknh fl)kUr dk ,d cM+k nks”k ;g Fkk fd blesa eqæk dh Hkwfedk ij dksbZ /;ku ugha fn;k x;k FkkA bl nks”k dks njw djus ds mís’; ls fodlyS ] (Wicksell) vksgyhu (Ohlin), feMkZy (Myrdal), j‚cVZlu (Robertson) rFkk tsdc okbuj (Jacob Viner) us ijaijkoknh fl)kUr esa gh okLrfod dkjdksa ds lkFk ekSfæd rRoksa dks tksM+dj C;kt ds uoijaijkoknh m/kkjn;s dk”s k fl)kUr dh jpuk dh gSA bu vFkZ’kkfL=;ksa ds vuqlkj] C;kt ds fu/kkZj.k esa çrh{kk ,oa le; vf/keku ij vk/kkfjr cpr dh iwfrZ vkSj iwath dh mRikndrk ij fuHkjZ cpr dh ekax egRoiw.kZ gSA fdUrq ekSfæd dkjd tSls vklapu (adding to cash 10. “Within the framework of a system of theory built on the assumption of full employment, the notion of interest as a reward for waiting or abstinence is highly plausible. It is the premise that resources are typically fully employed that lacks plausibility in the contemporary world.” Dudley Dillard, The Economics of John Maymard Kaynes (London, 1950), p. 162. CU IDOL SELF LEARNING MATERIAL (SLM)

220 O;f”V vFkZ’kkL= & I balances), fiNyh cprksa dk folap; (dissaving), caSdksa }kjk lk[k fuekZ.k vkfn mlls de egRoiw.kZ ugha gSA ijia jkoknh fl)kUr ds vuqlkj iwath dh ekax dk ,dek= mís’; fuos’k cryk;k tkrk gS tcfd uoijaijkoknh fl)kUr Li”V djrk gS fd m/kkjn;s dk”s kksa dh ekax fuos’k ds vykok vklpa u vkSj miHkksx lEcU/kh vko’;drkvksa dks iwjk djus ds fy, Hkh dh tkrh gAS blh çdkj ;g fl)kUr m/kkjns; dks”k dh iwfrZ ds pkj lkz sr crykrk gS% cpr] folap;] fofuo’s k vkjS lk[k fuekZ.k] tcfd ijaijkoknh fl)kUr viuk /;ku dsoy cpr ij dsafær djrk gSA m/kkjns; dks”kksa dh ekax ds ç;kstu (Main Sources of Demand for Loanable Funds) 1. fuos’k (Investment)% m/kkjns; dks”kkas dh lcls vf/kd ekax fuos’k dk;ksaZ ds fy, gh gksrh gSA m/kkjns; dks”kkas dh fuos’k ekax mudh lhekUr mRikndrk ij fuHkZj gksrh gSA mRiknd foosdiw.kZ <ax ls O;ogkj djrs gq, m/kkjns; dks”kksa dh ekax ml lhek rd c<+krs tk,axs tgka ij bu dks”kksa dh lhekUr mRikndrk C;kt dh nj ds cjkcj gks tkrh gSA nfs [k, js[kkfp= 10.6 eas I oØA I oØ dk Åij ls uhps nkbZa rjQ <ky Li”V djrk gS fd fuos’k ds fy, m/kkjns; dks”kksa dh ekax Åaph C;kt dh nj ij de vkSj uhph C;kt dh nj ij vf/kd gksrh gSA 2. miHkksx ds fy, (For consumption): lHkh ns’kksa esa m/kkjns; dks”kksa dh ekax miHkksx dh oLrqvksa dh [kjhnus ds mís’; ls dh tkrh gSA fodflr ns’kksa esa gh ugha Hkkjr tlS s fodkl’khy ns’kksa esa Hkh edku LdwVj] Vsyhfotu] jsfÝtjsVj] dkj bR;kfn fVdkÅ oLrqvksa dks [kjhnus ds fy, vusd ifjokj m/kkjns; dks”kksa dh ekax djrs gaSA bl oxZ ds yksxksa dh m/kkjns; dks”kksa dh ekax C;kt ds çfr ykspiw.kZ gksrh gSA js[kkfp= 10.6 eas C oØ ifjokjksa dh miHkksx ds fufeÙk m/kkjns; dks”kkas dh ekax dks fn[kkrk gSA 3. vklapu (Accumulation of cash balances): vusd O;fDr vius rjyrk vf/keku dh larqf”V ds fy, eqæk dk vklapu djrs gSaA C;kt ds m/kkjns; dks”k fl)kUr ds çfrikndksa dk fopkj Fkk fd vklapu vFkok vius ikl udnh j[kus ds nks ç;kstu gks ldrs gS%a çFke] ysunsu dk ç;kstu (transactions motive), vkSj f}rh;] iwoksZik; ç;kstu (precautionary motive)A O;kikfjd QesZa vius fnu çfrfnu ds O;kikfjd dk;Z laiUu djus ds fy, vkSj ifjokj jkstejkZ ds [kpksZa dks iwjk djus ds fy, udnh j[kuk pkgrs gSAa bls gh ysunsu ç;kstu ls m/kkjns; dks”kksa dh ekax dgrs gSaA vkdfLed ?kVukvksa ds fy, eqæk dh O;oLFkk CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 221 iwoksZik; ç;kstu ds vUrxZr vkrh gSA C;kt ds m/kkjns; dks”k fl)kUr ds çfrikndks esa ls fdlh us Hkh lês ds ç;kstu (speculative motive) dk mYys[k ugha fd;k gSA vklapu ds fy, m/kkjn;s dks”kksa dh ekax djus okys O;fä;ksa dh ço`fÙk C;kt dh Åaph nj ij FkksM+k vkSj uhph nj ij vf/kd vklapu djus dh gksrh gSA bl çdkj vklapu ds fy, m/kkjns; dks”kksa dh ekax C;kt ds çfr ykps iw.kZ gksrh gSA js[kkfp= 10.6 eas vklapu ds fy, m/kkjns; dks”kksa dh ekax dks H oØ ds }kjk fn[kk;k x;k gSA vLrq] fuos’k] miHkksx rFkk vklapu gsrq m/kkjns; dks”kkas dh ekax feydj budh dqy ekax dks çdV djsxhA js[kkfp= 10.6 eas m/kkjns; dks”kkas dh dqy ekxa DL j[s kk }kjk fn[kkbZ xbZ gSA m/kkjns; dks”kksa dh iwfrZ ds L=ksr (Sources of Supply of Loanable Funds) 1. cpr (Savings): m/kkjns; dks”kkas dk lcls egRoi.w kZ L=ksr cpr gSA C;kt ds bl fl)kUr ds çfrikndksa ds vuqlkj C;kt dh Åaph nj ij yksx vf/kd cpr djsaxs vkSj blfy, m/kkjns; dks”kkas dk iwfrZ oØ uhps ls Åij nkbZa vkSj mBsxkA js[kkfp= 10.6 eas S oØ cpr }kjk m/kkjn;s dk”s kksa dh iwfrZ dks fn[kkrk gSA 2. folap; (Dishoarding): m/kkjns; dks”kkas dk fuek.Z k ml le; Hkh gkrs k gS tc ykxs vklfa pr /kujkf’k dks lk[k cktkj eas fudkyrs gSaA çk;% yksx vius rjyrk vf/keku dks larq”V djus ds fy, vk; dk dqN Hkkx eqæk ds :i esa vius ikl j[krs gSaA ;g fuf”Ø; /kujkf’k tc lk[k cktkj eas m/kkj nsus ds mís’; ls ykbZ tkrh gS rks m/kkjns; dks”kksa dh iwfrZ c<+ tkrh gSA folap; dh ;g ço`fÙk C;kt dh nj ij fuHkZj gkrs h gSA rkRi;Z ;g gS fd C;kt dh nj ftruh Åpa h gksrh g]S yksx vklafpr /kujkf’k dks mruh gh cM+h ek=k esa vkSj ‘kh?krz k ds lkFk cktkj esa ykus dk ç;kl djsaxsA js[kkfp= 10.6 eas Dh j[s kk }kjk m/kkjns; dks”kksa dh folap; }kjk iwfrZ fn[kkbZ xbZ gSA 3. cSad eqæk (Bank credit): orZeku ;qx esa yxHkx lHkh ns’kksa esa O;kid Lrj ij cSadksa dk fodkl gqvk gS ftlds QyLo:i vkt os m/kkjns; dks”kksa dh iwfrZ ds egRoiw.kZ L=ksr gSA cSad tekdrkZvksa ls çkIr fu{ksi jkf’k (deposit) dks gh m/kkj nsdj eæq k dk fuek.Z k djrs gSAa rkRi;Z ;g gS fd cSad dsoy eqæk tVq kus okyh laLFkk,a ugha gSA ,d egRoiw.kZ vFkZ esa m/kkjns; dks”kkas dh fuekZrk Hkh gSA lkekU;r% lHkh O;kikfjd cSadksa dh ço`fÙk Åaph C;kt nj ij Hkkjh ek=k esa lk[k fuekZ.k djus dh gksrh gSA C;kt dh nj uhph gksus ij cSadksa ds fy, lk[k dk l`tu vf/kd ykHkçn ugha gksrkA ;gh dkj.k gS fd cSadksa }kjk m/kkjns; dks”kksa dh iwfrZ C;kt CU IDOL SELF LEARNING MATERIAL (SLM)

222 O;f”V vFkZ’kkL= & I ds çfr ykspiw.kZ gksrh gSA js[kkfp= 10.6 eas B oØ ds }kjk cSda ds L=ksr ls m/kkjns; dks”kkas dh iwfrZ dks fn[kk;k x;k gSA la{ksi eas ge dg ldrs gSa fd m/kkjns; dks”kksa dh dqy iwfrZ lkekftd cpr] folap;] caSd eqæk dh ek=k vkjS fuo’s k ls okil yh xbZ jkf’k ij lkewfgd :i ls fuHkZj djrh gSA pwafd bu lHkh L=ksrksa ls m/kkjns; dk”s kksa dh iwfrZ C;kt ds çfr ykspiw.kZ gksrh gS blfy, m/kkjns; dks”kkas dk ifw rZ oØ uhps ls Åij dh vkSj nkbZa rjQ mBrk gSA nlw js ‘kCnksa esa] m/kkjn;s dks”kksa ds iwfrZ oØ dk <ky /kukRed (positive) gksrk gAS js[kkfp= 10.6 esa SL m/kkjns; dks”kkas dk iwfrZ oØ gSA m/kkjns; dks”kksa dh ekax vkSj iwfrZ esa lkE; vkSj C;kt fu/kkZj.k (Equilibrium between Demand and Supply of Loanable Funds and Determination of Rate of Interest) mi;qZDr foospuk }kjk ;g Li”V gS fd C;kt dh nj ds fu/kkjZ .k eas m/kkjns; dks”kksa dh ekax vkSj ifw rZ dh lkisf{kd ‘kfDr;ka dk;Z djrh gSA m/kkjns; dks”kksa dh ekax C;kt dh mPpre lhek vkSj iwfrZ U;wure lhek fu/kkZfjr djrh gS ysfdu C;kt dh nj og fu/kkZfjr gksrh gS ftl ij m/kkjns; dks”kksa dh ekax mudh iwfrZ ds lkFk lUrqfyr gks tkrh gSA Y Dh SL Di C;kt dh nj S B N R I C DL HX OL m/kkjns; dks”k js[kkfp= 10.6% C;kt nj dk fu/kkZj.k % m/kkjns; dks”k fl)kUr CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 223 js[kkfp= 10.6 esa m/kkjns; dks”kkas dk iwfrZ oØ SL vkSj ekax oØ DL ,d nwljs dks ml le; dkVrs gSa tc C;kt dh nj OR gAS vr% OR C;kt dh lkE; nj gSA C;kt dh vU; fdlh nj ij m/kkjns; dks”kksa ds cktkj eSa vlUrqyu gksxk vkSj blfy, C;kt dh nj varr% OR gksus dh ço`fÙk fn[kyk,xhA bl lUnHkZ esa ;g mYy[s kuh; gS fd cktkj esa fu/kkZfjr gkus s okyh C;kt dh nj ij vk;ksftr (planned) cpr vk;kfs tr fuos’k ds cjkcj ugha Hkh gks ldrh gSA js[kkfp= 10.6 esa ;gh fLFkfr gSA OR C;kt dh nj ij m/kkjns; dk”s kksa dh ekax vkjS iwfrZ rks cjkcj gS ysfdu vk;ksftr cpr vkSj vk;ksftr fuos’k esa larqyu C;kt dh ON nj ij gh LFkkfir gks ikrk gSA C;kt dh OR nj ij vk;ksftr fuos’k vk;kfs tr cpr ls vf/kd gS blfy, ;g fLFkj C;kt dh nj ugha gkxs hA ;g fLFkfr vk; ds Lrj dks çHkkfor dj varr% cpr ds iwfrZ oØ dks çHkkfor djsxh ftlls m/kkjns; dks”kksa dh ekax vkSj iwfrZ esa lUrqyu mlh C;kt dh nj ij gkxs k ftl ij vk;ksftr cpr vk;ksftr fuos’k ds cjkcj gksrh gSA vkykspuk (Criticism) C;kt ds m/kkjn;s dks”k fl)kUr dh eq[; vkykspuk dsla vkSj dsaloknh vFkZ’kkL=h;ksa us dh gSA vFkZ’kkL=h C;kt ds m/kkjns; fl)kUr ds bl vk/kkjHkwr fopkj dks gh xyr ekurs gSa fd cpr C;kt ds çfr ykspiw.kZ gkrs h gSA muds vuqlkj cpr vk; ds Lrj ij fuHkZj gkrs h gS u dh C;kt dh nj ijA C;kt dh nj dk cpr ço`fÙk ij fo’ks”k çHkko ugha gksrkA ;fn C;kt dh nj vkSj cpr ds lEcU/kksa ij ,d le; fcUnq ds LFkku ij le; vof/k dh –f”V ls fopkj fd;k tk, rks Åaph C;kt dh nj ij varr% cpr dh ek=k c<+us ds ctk; de gks tk,xhA dsal ds vuqlkj Åaph C;kt dh nj ij fuos’k grksRlkfgr gksaxs ftlls vk; dk Lrj fxjsxk vkSj var esa cpr dh ek=k Hkh de gks tk,xhA dsal m/kkjns; fl)kUr dh bl vk/kkj ij Hkh vkykspuk djrs gSa fd fuos’k dh ek=k egl C;kt dh nj ij fuHkZj gksrh gSA muds vuqlkj fuos’kd C;kt dh nj ds vykok fuos’k ls ykHk dh çR;kf’kr nj ij Hkh xkSj djrk gSA dsla fuo’s k ls ykHk dh çR;kf’kr nj dks iwath dh lhekUr dk;Z{kerk (marginal efficiency of capital) dgrs gSAa vusd vk/kfq ud vFkZ’kkL=h vius vuHq kokfJr v/;;uksa ds vk/kkj ij bl fu”d”kZ ij igqpa s gSa fd fuos’k dks C;kt ds çfr ykspiw.kZ ugha ekuk tk ldrkA CU IDOL SELF LEARNING MATERIAL (SLM)

224 O;f”V vFkZ’kkL= & I 10.8 ykHk dh vo/kkj.kk (Concept of Profit) oreZ ku iawthoknh vFkiZ z.kkyha eas m|eh vFkok lkglh dk vR;ar egRoiw.kZ LFkku gSA vkt çR;sd oLrq dk mRiknu cM+h ek=k esa fd;k tkrk gSA blds vfrfjDr çR;sd vfu;ksftr lekt esa ifjorZu’khyrk gksus ds dkj.k vfuf’prrk dk rRo jgrk gSA ifjfLFkfr;ksa ds cnyus ij fuf’pr :i ls ;g dguk laHko ugha gksrk fd veqd oLrq ds mRiknu ds lkFk lkFk mldh ekax Hkh vf/kd gksxhA mRiknu fØ;k esa tksf[ke mBkus dk dk;Z dkSu djrk gS\\ Li”V gS fd Hkwfe] Je rFkk iwath ij bu dk;ksaZ dks laiUu djus dk mÙkjnkf;Ro ugha gS D;ksafd buesa ls çR;sd ds dk;ksaZ dk ,d fo’ks”k {ks= gSA ;g dk;Z lkglh }kjk gh fo’ks”k #i ls laiUu fd;k tkrk gSA ,Q- ch- gkys (F. B. Hawley) ds vuqlkj] bl dk;Z ds QyLo:i lkglh dks tks çfrQy çkIr gkrs k gS og ykHk gSA vFkkZr] ykHk tksf[ke mBkus dk çfrQy gSA ijUrq ÝaSd ukbV (Frank Knight) ds vuqlkj] ftl tksf[ke dk chek gks tkrk gS og oLrqr% ^tksf[ke* jgrh gh ughAa bl çdkj ge ykHk dks fuEufyf[kr :i esa ifjHkkf”kr dj ldrs gSaA lkglh dks chek&v;ksX; tksf[ke mBkus dk tks çfrQy feyrk gS og ykHk gSA dqN vFkZ’kkL=h ykHk dks okLrfod vk; rFkk dqy ykxr ds vUrj ds :i esa ifjHkkf”kr djrs gSaA e;s lZ (Mayers) ds ‘kCnksa eas % dqy ykxr ?kVk nsus ds i’pkr tks okLrfod vk; fdlh m|ksx ds ekfyd dks çkIr gksrh gS] mls ykHk dgrs gSaA11 10.9 dqy ykHk rFkk okLrfod ykHk (Gross Profit and Net Profit) Åij fd, x, fo’ys”k.k esa geus dgk gS fd fdlh O;olk;h vFkok O;kikjh dk ykHk oLrqvkas dh fcØh }kjk çkIr vk; rFkk muds mRiknu esa fd, x, O;; ds vUrj ds cjkcj gkrs k gSA bls dqy ykHk dk uke fn;k tkrk gSA dqy ykHk esa vusd rRokas ds çfrQy lfEefyr jgrs gSa ftuesa tksf[ke rFkk vfuf’prrk dk çfrQy fo’ks”k egRo j[krk gSA blh çfrQy dks lkglh dk ‘k)q vFkok okLrfod ykHk dgk tkrk gSA Li”V gS fd okLrfod ykHk dqy ykHk dk ,d va’k ek= gksrk gSA dyq ykHk fdu rRoksa ds çfrQykas dk ;ksx gksrk gS] bldk fo’ys”k.kkRed foops u ge uhps çLrqr dj jgs gSaA 11. A.L. Mayers, Elements of Modern Economics, p. 302. CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 225 dqy ykHk ds rRo (Constituents of Gross Profit) dqy ykHk ds fo’ys”k.k ls ;g Kkr gksrk gS fd blesa fuEu rRo fo’ks”k :i ls lfEefyr jgrs gSa% 1. lkglh ds futh mRiknu ds lk/kuksa dk çfrQy% çk;% ;g n[s kk tkrk gS fd m|eh ;k lkglh dsoy tksf[ke mBkus dk dk;Z gh ugha djrk ojuk mRiknu lEcU/kh vusd dk;Z djrk jgrk gAS mnkgj.kkFkZ] og futh Hkwfe] iwath vFkok Je dk Hkh ç;ksx djrk gSA bu lk/kuksa ds ç;ksx ij mls HkwLokeh dh Hkkafr yxku] iwta hifr dh Hkkafr C;kt rFkk Jfed dh Hkkafr etnwjh çkIr gksrh gSA lkglh dk ;g laiw.kZ çfrQy dwy ykHk esa tqM+ tkrk gSA 2. vuqj{k.k O;;% lkglh ds dqy ykHk esa vuqj{k.k O;; (maintenance expenditure) Hkh lfEefyr gksrk gSA vuqj{k.k O;; mRiknu fØ;k dks lqxerk ls pykus esa vfr vko’;d gksrs gSaA blds vUrxZr fuEu çdkj ds O;; lfEefyr fd, tkrs gS%a (i) e’khuksa rFkk vkStkjksa dk fujarj ç;ksx gksus ls os f?kl tkrs gSa vkSj dqN le; ckn csdkj gks tkrs gSaA muds LFkku ij iqu% ubZ e’khu rFkk vkStkj yxkus ij fd;k x;k O;; f?klkoV O;; ;k vuqj{k.k O;; (depreciation or maintenance expenditure) gSA (ii) m|ksx/k/a kksa dk chek djk ysuk Hkh vkt çR;sd mRiknd vko’;d ekurk gSA mRiknd dqN tksf[keksa tSls pkjs h] MdSrh] vkxtuh] tgkt Mwcus bR;kfn dk chek djok yrs k gSA bl çdkj] dqy ykHk esa ls /ku dh ,d fuf’pr jkf’k chek ds Hkqxrku ds fy, ns nh tkrh gSA mRiknd dk okLrfod ykHk fudkyrs le; dqy ykHk esa ls chek dh jkf’k Hkh ?kVkuh iMs+xhA 3. vO;fDrxr ykHk% dHkh dHkh mRiknd dks dqN ,sls ykHk çkIr gksrs gSa tks mldh futh dq’kyrk vFkok ;ksX;rk ds dkj.k mRiUu ugha gksrs] cfYd cktkj dh fo’ks”k ifjfLFkfr;ksa ds }kjk mRiUu gks tkrs gSaA bl çdkj çkIr gksus okys ykHk dks vO;fDrxr (extra-personal) ykHk ds uke ls iqdkjk tkrk gSA blds vUrxZr eq[;r% fuEu nks çdkj ds ykHk vkrs gSa% (i) tc fdlh mRiknd dk fdlh oLrq ds mRiknu vFkok forj.k esa ,dkf/kdkj LFkkfir gks tkrk gS rks mls lk/kkj.k ykHk ds lkFk lkFk vfrfjDr ykHk Hkh çkIr gksus yxrk gSA bl vfrfjDr ykHk dks ,dkf/kdkjh ykHk (monopoly profit) dgk tkrk gSA (ii) dHkh dHkh vuk;kl gh ifjfLFkfr;ksa ds cny tkus ls mRiknd dks vfrfjDr ykHk gkus s yxrs gS]a tSls ;q) fNM+ tkus vFkok vU; dkj.kksa ls ewY;ksa eas rRdkyhu of` ) gks tkus ijA bUgsa vçR;kf’kr ykHk (windfall profits) dgk tkrk gSA bl çdkj ds ykHk Hkh dqy ykHk esa tqM+s jgrs gSaA CU IDOL SELF LEARNING MATERIAL (SLM)

226 O;f”V vFkZ’kkL= & I 4. okLrfod ykHk% dqy ykHk dk vfUre v’a k okLrfod ykHk ;k ‘k)q ykHk gksrk gS ftls geus chek& v;ksX; tksf[keksa ds çfrQy ds :i esa ifjHkkf”kr fd;k gSA dqy ykHk eas ls mijfyf[kr O;;ksa dks ?kVk nsus ij ‘kq) ykHk çkIr gks tkrk gSA vFkkZr okLrfod ykHk ;k ‘kq) ykHk = dqy ykHk – m|eh ds futh lk/kuksa dk çfrQy – vuqj{k.k O;; – vO;fDrxr ykHk oSdfYid :i esa dqy ykHk = m|eh ds futh lk/kuksa dk çfrQy + vuqj{k.k O;; + vO;fDrxr ykHk + okLrfod ¼;k ‘kq)½ ykHk 10.10 ykHk dk tksf[ke fl)kUr (Risk Theory of Profit) bl fl)kUr ds çfriknd ,Q- ch- gkys (F.B. Hawley) gSaA gkys ds vuqlkj% lkglh dk dk;Z tksf[ke mBkuk gSA ftl çdkj mRiknu ds vU; lk/kuksa dks mudh lsokvksa dk çfrQy fn;k tkrk gS mlh çdkj mRiknd dks mlds dk;Z ¼tksf[ke mBkus½ dk çfrQy fn;k tkrk gSA ;g çfrQy ykHk gSA12 gkys ds vuqlkj] chek tksf[ke mBk, fdlh oLrq dk mRiknu laHko ugha] pkgs mRiknu ds vU; lk/ku fdruh gh ek=k esa miyC/k D;ksa u gksA tksf[ke esa gkfu mBkus dk mÙkjnkf;Ro lkglh ij gh gksrk gSA vr,o] bl dk;Z dk Hkkj mBkus esa lkglh dks bl ckr dh Hkh vk’kk gksuh pkfg, fd ;fn O;olk; esa ykHk çkIr gksrs gSa rks mu ij mlh dk vf/kdkj gksxkA çR;sd lkglh blh iqjLdkj dh vk’kk esa tksf[ke mBkus dk dk;Z djrk gSA okLro esa iqjLdkj dh ;g vk’kk ls dk;Z vkjaHk djus rFkk tksf[ke mBkus ds fy, çksRlkfgr djrh gS blesa lansg ugha gS fd ftl O;olk; esa tksf[ke dk va’k vf/kd gksrk gS mlesa vf/kd ykHk dh vk’kk Hkh gksrh gSA ijUrq bl lEcU/k esa ;g Lej.kh; ckr gS fd iawth ij tks lkekU; vkSlr vk; çkIr gksrh gS mlls ykHk dqN vf/kd gh gksuk pkfg,A bldk dkj.k ;g gS fd ;fn fdlh lkglh dks mRiknu ls dsoy mruk gh ykHk çkIr gksrk gS ftruh vk; mls iwath ls lqjf{kr fuos’k }kjk gksrh gS rks og viuh iwath dks tksf[ke esa Mkyuk ugha pkgsxkA 12. The risk bearing function is performed by the entrepreneur. Just as other factors of production are rewarded for their services, entrepreneur is also rewarded for his service (which is risk-bearing). This reward is known as profit. CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 227 gkys us ,sls pkj çdkj ds tksf[ke dh ppkZ dh gS tks gj lkglh dks mBkus iMr+ s gS%a (i) çfrLFkkiu lEcU/kh tksf[ke (replacement risk), (ii) vçpyu tksf[ke (obsolescence risk), (iii) vfuf’prrk lEcU/kh tksf[ke (risk about uncertanity), (iv) rFkk fo’kq) tksf[ke (risk proper)A çfrLFkkiu lEcU/kh tksf[ke la;a= rFkk e’khujh ds ewY;âkl ds dkj.k gksrh gSA vDlj fdlh Hkh la;a= rFkk e’khujh ds HkkSfrd thou dky dk vuqeku yxkuk laHko gksrk gS vkSj blfy, ewY;âkl dk irk yxk;k tk ldrk gSA fQj Hkh] vFkZO;oLFkk esa fLQfrdkjh ‘kfDr;ksa ds dkj.k ;g iwjk&iwjk vankt yxkuk laHko ugha gksrk dh çfrLFkkiu ykxr D;k gksxhA dher Lrj dHkh Hkh yEcs le; rd fLFkj ugha jgk gS blfy, dksbZ Hkh lkglh lgh lgh ugha tku ldrk fd iqjkuh e’khujh ds çfrLFkkiu ds fy, fdruh /kujkf’k dh vko’;drk gksxhA tgka rd vçpyu tksf[ke dk lEcU/k gS bldk vuqeku dHkh Hkh ugha yxk;k tk ldrk D;ksfa d rduhdh ifjorZu dh xfr vkSj Lo:i dk iwokZuqeku yxkuk laHko ugha gkrs kA gkys ds vuqlkj] fo’kq) tksf[ke dk lEcU/k oLrq dh fcØh laHkkO;rk (marketability of product) ls gSA le; ds lkFk QS’ku vkSj #fp;ksa esa ifjorZu gksrs jgrs gSa tks lkglh;ksa dh x.kuk dks vLr O;Lr dj nsrs gSaA dbZ ckj oLrq dh c<+rh gqbZ ekax dks ns[krs gq, ubZ QesaZ m|ksx esa ‘kkfey gks tkrh gSa tks lkgfl;ksa dh fcØh ;kstukvksa dks vLr O;Lr dj nsrh gSA bu lc tkus ekus dkjdkas ds vfrfjDr O;olk; esa dbZ vuisf{kr (unforeseen) dkjd gksrs gSa ftuds ckjs esa dksbZ Hkh iow kZueq ku ugha yxk;k tk ldrkA blfy, lkglh viuh ;kstukvksa ds vuqlkj dke ugha dj ikrsA gkys ds vuqlkj] tc rd dksbZ bl çdkj ds tksf[ke mBkus ds fy, rS;kj ugha gksxk] mRiknu ugha fd;k tk ldrkA muds vuqlkj D;ksfa d lkglh bu tksf[keksa dks mBkrk gS blfy, mls ykHk ds :i esa çfrQy fn;k tkrk gSA mRiknu ;k O;olk; esa tksf[ke gksus dk rkRi;Z ;g gS fd gkfu dh laHkkouk dks ijw h rjg ls lekIr ugha fd;k tk ldrkA gkys ds fl)kUr dh vkykspuk (Criticisms of Hawley’s Theory) 1. Vh-,u- dkoZj (T.N. Carver) dk er gS fd ykHk lkglh dks blfy, çkIr ugha gksrk fd og tksf[ke mBkrk gS ijarq blfy, çkIr gksrk gS fd ,d vPNk lkglh vius O;kolkf;d dkS’ky (business skill) ls tksf[ke de djus eas leFkZ gksrk gSA blfy, ykHk tksf[ke mBkus dk çfrQy u gksdj tksf[ke dks de djus dk çfrQy gS (profit is the reward for risk-avoidance rather than risk taking)A 2. ÝSad ukbV (F.H. Knight) us gkys ds fl)kUr ij vkifÙk djrs gq, dgk gS fd lHkh çdkj ds tksf[ke esa ykHk dk rRo ugha gksrkA ukbV ds vuqlkj] tksf[ke nks çdkj ds gksrs gSa% (i) ftudk iwokZueq ku CU IDOL SELF LEARNING MATERIAL (SLM)

228 O;f”V vFkZ’kkL= & I yxk;k tk ldrk gS bUgsa foreseeable risk dgrs gaS] rFkk (ii) ftudk iwokZuqeku ugha yxk;k tk ldrk bUgsa unforeseable risk dgrs gSaA ftu tks[khekas dk iwokZuqeku yxk;k tk ldrk gS mRiknd mudk chek djok ldrk gSA blfy, ;s tksf[ke chek&;ksX; tksf[ke (insurable rks) gksaxsA chek dh izheh;e jkf’k dks lkglh ykxr [kpZ esa ‘kkfey dj ysrk gSA QyLo:Ik bu tksf[keksa ij ykHk izkIr ugha gksrkA ijUrq dqN tksf[ke ,sls Hkh gksrs gSa ftudk iwokZuweku ugha yxk;k tk ldrk blfy, mudk chek Hkh ugha gks ldrkA ;s chek&v;ksX; tksf[ke (non-insurable risks) gh ykHk dk dkj.k gksrs gSaA vkt ,dkf/kdkj iwathokn ds ;qx esa if’peh ns’kksa dsa tc vf/kdka’k mRiknu Ikj cgqjkf”Vª; fuxeksa vkSj nwljh cM+h daifu;ksa dk fu;a=.k LFkkfir gks x;k gS rks O;olk; esa tksf[ke dk rRo lekIr gks x;k gSA bu daifu;ksa esa ykHk ,dkf/kdkjh ‘kks”k.k dk ifj.kke gSA 10.11 ykHk dk vfuf’prrk /kkj.k fl)kUr (Uncertainty Bearing Theory of Profit) f’kdkxks fo’ofo|ky; ds vFkZ’kkL=h ÝSad ukbV us gkys ds tksf[ke fl)kUr dk [k.Mu djds vfuf’prrk /kkj.k fl)kUr dk izfriknu fd;k gSA ukbV ds fl)kUr dks vFkZ’kkL=h;kas ds ,d cMs+ oxZ us ekU;rk inz ku dh gSA ukbV ds vuqlkj] lkglh dk eq[; dk;Z mRiknu ls tqM+h vfuf’prrkvksa dk ogu djuk gS vkSj ykHk bl vfuf’prrk ogu ds fy, Hkqxrku gSA13 ukbV us tksf[keksa dks nks Hkkxksa esa foHkkftr fd;k gS & chek&;ksX; tksf[ke (insurable risk) rFkk chek&v;ksX; tksf[ke (non-insurable risks)A vfXudkaM] e`R;q] tgkt ds Mwcus rFkk vU; nq?kZVukvksa ls lEcfU/kr tksf[keksa dk iwokZuweku yxk;k tk ldrk gSA ¼blfy, ;s foreseeable risks gSa½ vkSj budk chek djok;k tk ldrk gSA chek dk izheh;e mRiknu ykxr eas tksM+ fn;k tkrk gSA bu tksf[keksa ds cnys lkglh dks dksbZ izfrQy izkIr ugha gksrk D;ksafd tksf[ke mBkus dk dk;Z chek daiuh us fd;k gS u fd lkglh usA f}rh; Js.kh esa os tksf[ke ‘kkfey fd, tkrs gaS ftuds ckjs esa dksbZ iwokZuweku ugha yxk;k tk ldrk ¼blfy, ;s unforeseeable risks gSa½ dksbZ Hkh chek daiuh bl izdkj ds tksf[keksa dk chek djus dks rS;kj ugha gksrhA 13. The main task of an entrepreneur is to bear uncertainties related to production and profit is a paymnet for uncertainty bearing. CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 229 blfy, ;s tksf[ke lkglh dks [kqn mBkus iM+rs gSaA ukbV us bu chek&v;ksX; tksf[keksa dks vfuf’Pkrrk (uncertainty) dgk gSA muds erkuqlkj tkfs [ke mUgha [krjkas dks dgk tkrkA ,sls tksf[ke ftudk chek ugha gks ldrk] nwljs ‘kCnksa eas vfuf’Pkrrk,a fuEufyf[kr pkj izdkj dh gksrh ga%S 1. izfrLi/kkZRed tksf[ke (Competitive uncertainties)% cktkj iz.kkyh esa QeZ dks gj le; izfr;ksfxrk dk Hk; jgrk gSA izk;% ns[kus esa vkrk gS fd tc fdlh m|ksx esa Åaps ykHk dh laHkkouk vf/kd gkrs h gS rks vusd ubZ QesZa foHksnkRed ijUrq feyrh tqyrh (differentiated but similar) oLrqvksa dk mRiknu dj cktkj esa izfr;kfs xrk ds va’k dks c<+k nrs h gSaA bl ubZ fLFkfr esa iqjkuh QeZ ls eky [kfjnus okys vuds Øsrk ubZ QeksaZ dh vkjs vkdf”kZr gks tkrs gSa ftlds QyLo:i oLrq dh dher fxjus ds lkFk lkFk ykHk dh ek=k Hkh de gks tkrh gSA 2. rduhdh tksf[ke (Technological uncertainties)% vktdy rduhdh fodkl dh xfr cgqr rst gS blfy, izk;% e’khusa rFkk la;a= iwjh rjg f?klus ls igys gh iqjkus vkSj izfr;ksfxrk dh n`f”V ls vuiq ;qDr gks tkrs gSAa dHkh dHkh rks u, <ax dh e’khuksa dk vkfo”dkj gksrs gh ijq kus <ax dk ubZ e’khusa Hkh csdkj gks tkrh gSaA bl izdkj rsth ls gksus okyh rduhdh izxfr us m|ksx vkSj nwljs O;olk;ksa esa Hkkjh vfuf’Pkrrk mRiUu dj nh gSA 3. O;kikj pØh; tksf[ke (Cyclical uncertainties)% iwathoknh vFkZO;oLFkk ;fn dHkh iw.kZ jkts xkj dh fLFkfr esa gksrh gS rks dHkh mls eanh dh fLFkfr ls Hkh xqtjuk gksrk gSA eanh ds le; cktkj esa ekax dh deh gksrh gS vkSj dhersa fxjrh gSaA pwadh eanh iwathoknh vFkZiz.kkyh ds vUrfoZjks/kksa ls mRiUu gksrh gS blfy, bls jksd lduk fdlh Hkh QeZ dh lkeF;Z ds ckgj gksrk gAS eanh lEcU/kh tksf[ke dks O;kikj pØh; tkfs [ke dgrs gSaA 4. Lkjdkjh uhfr;ksa }kjk mRiUu tksf[ke (Uncertainties caused by government policies)% ljdkjh uhfr;kas esa izk;% lw=c)rk ds dkj.k fuf’prrk gkrs h gS ysfdu dHkh dHkh ljdkjsa dqN ,sls dne mBk yrs h gaS ftlls QeZ dks vuk;kl ykHk ;k gkfu gks ldrh gSA mnkgj.kkFkZ] ljdkj }kjk cM+s iSekus ij fdlh m|ksx esa ioz s’k] vk;kr fu;a=.k dh lekfIr] eqnzk dk voewY;u vkfn dqN ,sls gh dne gSaA buds dkj.k m|ksx vkSj okf.kT; esa vfuf’prrk dk gksuk LokHkkfod gSA CU IDOL SELF LEARNING MATERIAL (SLM)

230 O;f”V vFkZ’kkL= & I ukbV ds fl)kUr dh vkykspuk,a (Criticisms of Knight’s Theory) ykHk ds vfuf’prrk /kkj.k fl)kUr dh fuEufyf[kr vkykspuk,a dh tkrh gSa% 1. vfuf’prrk ds dkj.k gh lkgfl;ksa dh ifw rZ lhfer ugha gkrs hA vusd vU; dkj.kksa] tSls vkfFkZd la?k”kZ] iwta h dh iwfrZ] Kku ,oa volj dk vHkko] jkT; ds fu;e] lkekftd okrkoj.k vkfn ds izHkko ls Hkh lkgfl;ksa dh iwfrZ lhfer gksrh gSA 2. lkglh vfuf’prrk gh lgu ugha djrk oju vusd vU; dk;Z Hkh djrk gS] tSls m|ksx dh LFkkiuk djuk] laxBu djuk] lkSns djuk bR;kfnA vr% mls tks ykHk izkIr gksrk gS og bu lHkh dk;ksaZ dk izfrQy gksrk gSA 3. vusd vk/kqfud vFkZ’kkfL=;ksa ds vuqlkj ukbV dk fl)kUr mUuhloha ‘krkCnh dh ,dy O;kikjh QeZ vFkok lk>snkjh QeZ ds lanHkZ esa lgh gks ldrk gS] ijUrq vkt lHkh fodflr vkSj vYifodflr n’s kksa esa fefJr iwath daifu;ksa ds fodflr gks tkus ij bl fl)kUr dh lR;rk ij lansg gksrk gSA fefJr iwath daiuh esa ykHk ds vf/kdkjh va’k/kkjh (shareholders) gksrs gaS tcfd m|e lEcU/kh dkbs Z Hkh dk;Z os lia Uu ugha djrsA mRiknu dh ek=k rFkk] fdLe] fcØh ds <ax vkSj cktkj] rduhd] lk/kuksa ds i;z ksx vkfn ls lEcfU/kr lHkh fu.kZ; osru ikus okys izca/kdrkZ ysrs gSaA nwljs ‘kCnksa esa] tks m|e lEcU/kh dk;Z djrs gaS os ykHk ds vf/kdkjh ugha gksrs gSa vkSj tks ykHk ds vf/kdkjh gksrs gSa] os m|e ugha djrsA 10.12 lkjka’k (Summary) 1. yxku ‘kCn ds vFkZ ij nks mYys[kuh; er gS% çFke] ijaijkoknh vFkZ’kkfL=;ksa dk] rFkk f}rh;] vk/kqfud vFk’Z kkfL=;ksa dkA 2. ijaijkoknh vFkZ’kkL=h] fjdkMksZ ds vulq kj] yxku Hkwfe ds mRiknu dk og Hkkx gS tks HkLw okfe;ksa dh ekSfyd rFkk vfouk’kh ‘kfDr;ksa ds ç;kxs ds miy{; esa fn;k tkrk gSA 3. vk/kqfud vFkZ’kkfL=;ksa ds vuqlkj] fdlh Hkh mRiknu ds lk/ku dks vius ekStwnk dk;Z esa cuk, j[kus ds fy, tks U;wure vk; nsuk vko’;d gS] mlls vf/kd ml lk/ku dks tks vk; çkIr gksrh gS] ogh mldk yxku gSA CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 231 4. fjdkMksZ ds vuqlkj] yxku Hkwfe dh moZjrk esa vUrj dk ifj.kke gSA 5. vf/kd mitkÅ Hkwfe ij vf/kd yxku] de mitkÅ Hkwfe ij de yxku rFkk lhekUr Hkwfe ij yxku mRiUu gksrk gSA 6. vk/kqfud vFkZ’kkfL=;ksa ds vuqlkj] fjdkMksZ dk yxku fl)kUr ,d ladqfpr /kkj.kk gS] D;ksafd yxku mRiknu ds lHkh lk/kuksa ds fy, gksrk gS] dsoy Hkwfe ds fy, ughaA 7. fdlh Hkh lk/ku bdkbZ fo’ks”k dks O;olk; esa cuk, j[kus ds fy, U;wure vko’;d vk; dks gLrkarj.k vk; dgrs gSaA 8. fdlh Hkh mRiknu ds lk/ku dks çkIr gkus s okyh okLrfod vk; vkjS gLrkra j.k vk; eas vUrj yxku gAS yxku = okLrfod vk; – gLrkarj.k vk;A 9. vk/kqfud –f”Vdks.k ds vuqlkj] yxku lk/ku fo’ks”k dh iwfrZ dh yksp ij fuHkZj djrk gSA 10. lk/ku dh iw.kZr;k csyksp iwfrZ dh fLFkfr esa] mldh leLr vk; yxku gksrh gS tcfd iw.kZr;k ykspnkj iwfrZ dh fLFkfr esa leLr vk; gLrkarj.k vk; gksrh gS] vFkkZr~ bl fLFkfr esa dksbZ yxku mRiUu ugha gksrkA 11. uoijaijkoknh m/kkjns; dks”k fl)kUr ds vuqlkj dks”k dh iwfrZ ds pkj lzksr gS% cpkr] folap; rFkk lk[k fuekZ.k] tcfd ijaijkoknh fl)kUr viuk /;ku dsoy cpr ij dsafær djrk gSA 12. m/kkjns; dks”kksa dh ekax ds rhu ç;kstu & fuos’k] mi;ksx rFkk vklapu gSA 13. C;kt dh lUrqfyr nj dk fu/kkZj.k m/kkjn;s dk”s k dh ekax rFkk ifw rZ ds }kjk gksrk gSA 14. ykHk m|eh dks tksf[ke mBkus ds vykok fd, x, vU; dk;ksaZ tSls Jfed dk dk;]Z iwathifr ,oe~ HkwLokeh ds dk;ksZa ds fy, feyus okyk izfrQy ykHk dk vax ugha ekuk tkrkA 15. oLrqvksa dh fcØh }kjk izkIr vk; rFkk muds mRiknu esa fd, x, dqy O;; ds vUrj dks dqy ykHk dgrs gSaA 16. dqy ykHk esa lkglh ds futh mRiknu ds lk/kukas dk izfrQy] vuqj{k.k O;;] vO;fØxr ykHk rFkk okLrfod ykHk ¼;k ‘kq) ykHk½ dks lfEefyr fd;k tkrk gSA CU IDOL SELF LEARNING MATERIAL (SLM)

232 O;f”V vFkZ’kkL= & I 17. ‘kq) ykHk = dyq ykHk – m|eh ds futh lk/kuksa dk izfrQy – vuqj{k.k O;; – vO;fDrxr ykHk 18. gkys ds ykHk ds tksf[ke fl)kUr ds vuqlkj] ykHk mRiknd dks mlds tksf[ke mBkus ds fy, feyus okyk izfrQy gSA 19. gkys ds vuqlkj] izR;ds m|eh dks pkj idz kj ds tksf[ke mBkus iMr+ s gS%a (i) izfrLFkkiu lEcU/ kh tksf[ke] (ii) vizpyu tksf[ke] (iii) vfuf’prrk lEcU/kh tksf[ke] rFkk (iv) fo’kq) tksf[keA 20. ÝSad ukbV ds ykHk ds vfuf’prrk /kkj.k fl)kUr ds vuqlkj] ykHk mRiknu ls tqM+h vfuf’Pkrrkvksa dks ogu djus dk izfrQy gSA 21. chek ;ksX; rFkk chek&v;ksX; tksf[ke esa ls chek&v;ksX; (unforescable risks) dks gh ukbV us vfuf’prrk dk uke fn;k gSA ,sls tksf[keksa esa izfrLi/kkZRed tksf[ke] rduhdh tksf[ke] O;kikj pØh; tksf[ke rFkk ljdkjh uhfr;kas }kjk mRiUu tksf[ke ‘kkfey gSaA 10.13 eq[; ‘kCnkoyh (Key Words/Abbreviation) 1. yxku ¼ijaijkoknh –f”Vdks.k½% Hkwfe rFkk vU; ç—fr&nÙk fueZY; migkjkas ls çkIr gksus okyh vk; lk/kkj.kr;k yxku dgykrh gSA 2. yxku ¼vk/kqfud –f”Vdks.k½% fdlh Hkh mRiknu ds lk/ku dks vius ekStwnk dk;Z esa cuk, j[kus ds fy, tks U;wure vk; nsuk vko’;d gS] mlls vf/kd ml lk/ku dks tks vk; çkIr gksrh gS] ogh mldk yxku gSA 3. lhekUr Hkwfe (Marginal Land): mRiknu dk;Z eas yxkbZ tkus okyh fofHkUu çdkj dh Hkfw e esa fu—”Vre Hkwfe dks lhekUr Hkwfe dgrs gSaA 4. gLrkarj.k vk; (Transfer Earning): fdlh Hkh lk/ku dh bdkbZ fo’ks”k dks O;olk; esa j[kus ds fy, U;wure vko’;d vk; gLrkarj.k vk; dgykrh gSA 5. C;kt% fQ’kj ds vuqlkj] Cpkt m/kkj nsusokys O;fDr dh le; vf/kekurk dk eqvkot+k gSA 6. ykHk% dyq ykxr ?kVk nsus ds i’pkr tks okLrfod vk; fdlh QeZ ds ekfyd dks izkIr gksrh gS] mls ykHk dgrsa gSaA ;gh dyq ykHk Hkh gSA CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 233 7. ‘kq) ykHk% dyq ykHk esa ls m|eh ds futh mRiknu ds lk/kuksa dk ifz rQy] vuqj{k.k O;; o vO;fDrxr ykHk ?kVkus ij ‘k)q ykHk izkIr gksrk gSA 10.14 f’k{k.k xfrfof/k (Learning Activity) 1. ;fn vki ds lkeus ukdS jh ds nks loZJs”B fodYi ‘A’ rFkk ‘B’ gksa rFkk vU; lHkh ckrsa leku gksus ij fodYi ‘A’ eas vkidk osru 80,000 #i;s ekfld rFkk fodYi ‘B’ eas vkidk osru 70,000 #i;s ekfld gks] rks vki fdl fodYi dk dFku djsaxs\\ bl fLFkfr esa yxku dh jkf’k vkids fy, fdruh gksxh\\ ;fn fodYi ‘B’ esa vkids osru esa 5,000 #i;s dh o`f) gks tk, vFkkrZ ~ osru c<+dj 75,000 #i;s ekfld gks tk,] rks vc vkids fy, yxku dh jkf’k fdruh gksxh\\ __________________________________________________________________________ __________________________________________________________________________ 1. (d) nh xbZ lkj.kh dks j[s kkfp= }kjk iznf’kZr dhft, rFkk crkb;s fd C;kt dh lUrqfyr nj fdruh gksxhA C;kt dh nj fuos'k miHkksx vklapu cpr folap; cSad eqnzk (in `) (r) (I) (C) (CB) (S) (DH) (BC) 2 50 45 40 20 25 20 3 45 40 30 25 30 25 4 40 35 20 30 35 30 5 35 30 10 35 40 35 __________________________________________________________________________ __________________________________________________________________________ 2. ([k) bl lkj.kh esa nks vkjS pjkas ds fy, LrEHk (column) cukus dh vko’;drk gS] lksfp, fd dkSu lsA (Hint: ^m/kkjn;s dks”kksa dh dqy ekax* rFkk ^m/kkjns; dks”kksa dh dyq iwfrZ*) __________________________________________________________________________ __________________________________________________________________________ CU IDOL SELF LEARNING MATERIAL (SLM)

234 O;f”V vFkZ’kkL= & I 10.15 o.kZukRed iz’u (Descriptive Questions) 1. fjdkMksZ ds yxku fl)kUr dh O;k[;k dhft,A bl fl)kUr dk vkykspukRed ewY;kda u dhft,A 2. ^yxku* ‘kCn ls D;k rkRi;Z gS\\ D;k Hkwfe ds vykok vU; mRiknu lk/kuksa dks Hkh yxku çkIr gks ldrk gS\\ 3. gLrkarj.k vk; D;k gS\\ bldk yxku ls D;k lEcU/k gS\\ 4. yxku ds vk/kqfud fl)kUr dh O;k[;k dhft,A ;g fjdkMksZ ds fl)kUr ls fdl çdkj fHkUu gS\\ 5. ^ifw rZ oØ ftruk vf/kd ykspnkj gksxk] lk/ku dks Hkxq rku esa yxku dk va’k mruk gh de gksxk vkSj gLrkarj.k vk; dk vf/kd gksxk*A bl dFku dh foospuk dhft,A 6. ^vukt dh dher blfy, vf/kd ugha gksrh D;ksafd yxku vnk fd;k tkrk gS] cfYd yxku blfy, vnk fd;k tkrk gS D;ksafd vukt dh dher vf/kd gksrh gSA* le>kb,A 7. C;kt nj ds fu/kkjZ .k ds ijia jkoknh fl)kUr dh O;k[;k dhft,A ;g fl)kUr vfu/kkjZ .kh; ;k D;kas g\\S 8. m/kkjns; dks”k fl)kUr dh O;k[;k dhft,A bldh eq[; vkykspuk,a D;k gS\\ 9. dqy ykHk vkSj okLrfod ykHk esa D;k vUrj gS\\a dqy ykHk ds D;k rRo gSa\\ 10. ykHk ds vfuf’prrk /kkj.k fl)kUr dk vkykspukRed eYw ;kadu dhft,A chek&v;ksX; vfuf’prrk,a dkSu lh gS\\ 11. laf{kIr mRrj nhft,% (i) gkys ds pkj izdkj ds tksf[ke dh ppkZ dh gSA ;s tksf[ke dkSu dkSu ls gSa\\ (ii) chek&;ksX; vkSj chek&v;ksX; tksf[keksa esa vUrj Li”V dhft,A CU IDOL SELF LEARNING MATERIAL (SLM)

forj.k dk fl)kUr 235 10.16 cgqfodfYi; iz'u (Multiple Choice Questions) 1. fdl vFkZ’kkL=h dk uke yxku ds ijia jkoknh fl)kar ds lkFk tksM+k tkrk gS\\ ¼d½ fjdkMksZ ¼[k½ dsUt+ ¼x½ pSEcjfyu ¼?k½ tkWu jksfcUlu 2. fjdkMksZ ds vuqlkj] lhekUr Hkwfe ij mRiUu yxku dh ek=k __________ gksrh gSA ¼d½ /kukRed ¼[k½ _.kkRed ¼x½ ‘kwU; ¼?k½ /kukRed rFkk vf/kd 3. vk/kqfud fl)kUr ds vuqlkj] yxku fdl ij fuHkZj djrk gS\\ ¼d½ Hkwfe dh nqyZHkrk ¼[k½ gLrkarj.k vk; ¼x½ Hkwfe dh moZjdrk ¼?k½ lhekUr Hkwfe 4. fdl fLFkfr esa yxku ‘kwU; gksrk gS\\ ¼[k½ /kukRed <ky okyk iwfrZ oØ ¼d½ iw.kZr;k csyksp iwfrZ ¼x½ iw.kZr;k ykspnkj iwfrZ ¼?k½ bdkbZ ykspnkj iwfrZ 5. fdl fLFkfr esa laiw.kZ vk; gh yxku gksrh gS\\ ¼d½ iw.kZr;k ykspnkj iwfrZ ¼[k½ bdkbZ ykspnkj iwfrZ ¼x½ /kukRed <ky okyk iwfrZ oØ ¼?k½ iw.kZr;k csyksp iwfrZ 6. fuEu esa ls D;k m/kkjns; dks”kksa dh ifw rZ dk lzksr ugha gS\\ ¼d½ cpr (Saving) ¼[k½ folpa ; (Dishoarding) ¼x½ vklapu (Accumulation of Cash Balances) ¼?k½ cSad eqnzk (Bank Credit) CU IDOL SELF LEARNING MATERIAL (SLM)

236 O;f”V vFkZ’kkL= & I 7. ,Q-,p- ukbZV }kjk izfrikfnr ykHk dk fl)kUr fuEu esa ls dkSu lk gS\\ ¼d½ tksf[ke dk fl)kUr ¼[k½ vfuf’prrk dk fl)kUr ¼x½ uoioz rZu fl)kUr ¼?k½ xfr’khy fl)kUr 8. dqy ykHk izkIr djus ds fy, ‘kq) ykHk esa D;k ugha tksM+k tkrk\\ ¼d½ ‘kq) ykHk ¼[k½ m|eh ds futh lk/kuksa dk izfrQy ¼x½ vujq {k.k O;; ¼?k½ dqy ykHk mÙkj% 1. ¼d½] 2. ¼x½] 3. ¼[k½] 4. ¼x½] 5. ¼?k½] 6. ¼[k½] 7. ¼[k½] 8. ¼?k½ 10.17 lanHkZ (References) 1. Mishra, S.K. and Puri, V.K. (1998), Vyashti Arthashastra, Himalaya Publishing House Pvt. Ltd., Mumbai. 2. Ahuja, H.L. (1999), Advanced Economic Theory, S. Chand & Co., New Delhi. 3. Chopra, P.N. (1998), Micro Economic Theory and Welfare Economics, Kalyani Publishers, New Delhi. 4. Chopra, P.N. (2006), Advanced Economic Theory, Kalyani Publishers, New Delhi. 5. Lekhi, R.K., Walia, H.S. & Talwar, S.J. (2003), Micro Economics, Kalyani Publishers, New Delhi. 6. Lipsey, R.G. & Chrystal, K.A. (2004), Economics, Oxford University Press, New Delhi. 7. Lipsey, R.G. & Chrystal, K.A. (1999), Principles of Economics, Ninth Edition, Oxford University Press, New Delhi. CU IDOL SELF LEARNING MATERIAL (SLM)