ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -In general, the primary economic goals include full employment, economic growth, economic stability, equality, and enhanced efficiency.

Detailed explanation-2: -Market economies tend to favor economic freedom, efficiency and growth (with full employment being a desirable side effect of these choices). Since free markets encourage competition and negotiation, other goals like equity, security, price stability and economic sustainability are sometimes sacrificed.

Detailed explanation-3: -Specifically, the Congress has assigned the Fed to conduct the nation’s monetary policy to support the goals of maximum employment, stable prices, and moderate long-term interest rates.

Detailed explanation-4: -The following are the non-economic goals of the firm. 1) production of quality goods/services at cheaper price. 2) creation of employment at a larger scale. 3) social service towards the community.