Noise pollution is a significant environmental issue, particularly in industrial settings. The constant hum of machinery, the clanging of metal, and the roar of engines contribute to a cacophony that can have serious health implications for workers and nearby residents. Addressing noise pollution in industries is not only a matter of regulatory compliance but also a crucial step in ensuring the well-being of employees and the community. Understanding Noise Pollution in Industries Industrial noise pollution stems from various sources such as heavy machinery, generators, compressors, and transportation vehicles. Prolonged exposure to high levels of noise can lead to hearing loss, stress, sleep disturbances, and cardiovascular problems. Beyond health impacts, noise pollution can also reduce productivity, increase error rates, and contribute to workplace accidents. Regulatory Framework Many countries have established regulations and standards to limit industrial noise. Organizations like t
INTRODUCTION:
The origin of the term 'economics' lies in the Greek words Oiken and nomos which means 'laws of households'.
According to Alfred Marshall, economics is the study of mankind in the ordinary business of life.
According to Lionel Robbins, economics is a social science concerned with allocation of scarce resources among competing ends.
In modern meaning economics renders help in various matters of decision making like
a) Production decision : What to produce?
How to produce?
b) Exchange decision : What price to charge?
Whom to sell?
c) Consumption decision : What to consume?
How much to consume?
CLASSIFICATION OF ECONOMICS:
Ragnar Firsch has classified economic into two broad categories
1. Micro Economics
2. Macro Economics
Micro Economics:
The term micro have been derived from the Greek words Mikros which means 'small' Micro economics deals with behaviour of individuals for example that of a consumer or a producer or a market.
Macro Economics:
The term Macro have been derived from the Greek words Makros which mean 'Large'. Macro economics deals with the behaviour of aggregates for example national income, agricultural output, industrial output, total employment and unemployment etc.
SCOPE OF ECONOMICS:
The scope of economics means the limits of the subject matter of economics. Economics studies how wealth is produced, distributed, exchanged and consumed. So the scope of economics is broadly classified as under
a) Consumption:
Satisfaction of human wants is called Consumption. This explains how people behave in consumption of goods and services inorder to maximise their satisfaction.
b) Production:
Goods and services have to be produced with the help of factors of production. Production is another branch of economic.
c) Exchange:
Goods and services cannot be produced at one place or at one point of time. Goods produced by one are exchanged for the goods produced by the other.
d) Distribution:
Goods and services produced have to be paid for or rewarded. i.e) The land gets rent, labour gets wage, Capital gets interest and the organizer gets profit.
e) Public finance:
This branch of study in economics studies about the sources of revenue to the government and the principles governing the expenditure for the benefit of the people.