Thursday, April 8, 2010


Thursday, April 8, 2010

The economy generally means wealth or property. Specifically, economy refers to the state of a country or region in terms of the production and consumption of goods and services and the supply of money. Economy also implies control and management of properly or its proper utilization. Wealth includes money, valuable metals like gold and silver, house, land and its income, goods, documents and assets that can be exchanged with money. Wealth helps us to fulfill all sorts of our needs. So, economy or wealth is essential for living. We all need to work to earn wealth for our living. If we do not earn, we cannot develop and in fact, it is difficult to sustain our life.

Importance of Economy
The importance of wealth or economy lies with its utility and the ability to fulfill our needs and wants. Money and valuable goods do not possess utility like those of food, cloth, medicine, etc. On the other hand, economy is easy to exchange things for our needs with money whereas economy is not so easy to exchange books with food, medicine with books or clothes with medicine. Though goods and commodities have money value, money is the most common means of transaction of commodities.

Wealth and property are mainly of two types: personal and common. Personal property means the property of individuals over which the owner has the absolute right. Common property belongs to the village, town, district, community, organization, nation or international organizations.

a) Developing Transport and Communication:
Nepal is full of hills, rocks, a lot of ups and downs. As such, transportation of goods and people has been very difficult. Had there been good roads, it would have been much better to go from one place to another and carry out the trade of local products. The local people would have no problem of unemployment. Everyone would get opportunities to earn money and develop the economy of the country. Everyone would get opportunities to earn money and develop the economy of the country. At the same time, the means of communication like postal services, radio, telephone, television, etc. would keep the people living in different parts, in close contact. For all such development works, Nepalese people need money and it is the common money of the community that is invested in such works. Nepal is poor and villages lack the facilities of transport and communication.

b) Utilizing the Natural Resources:
Nepal is rich in natural resources. A number of rivers flow from the snow-clad mountains. These rivers never dry because of their origin from the snow. The water of such rivers can be used to produce electricity, to irrigate land and supply drinking water for the people. But they are not been able to do so at a large scale. A large amount of money is required for the water-power projects that they have started recently.
Similarly, forest products like wood for making houses and furniture, firewood, herbs and roots to produce medicine, etc. are available in abundance. By making use of these resources they(Nepalese people) can earn a lot. At the same time, they have minerals in different parts of the country. But they have not been able to explore them. Money is needed to explore all sorts of natural resources. These are the national wealth and the exploration of these would help in the development of the country’s economy.

c) Raising the Standard of Living:
Most of the people in Nepal, particularly those living in villages and remote areas, live a life similar to those of ancient time. They are engaged in different activities to earn enough to fulfill their bare needs. They are overcome by hunger, poverty and diseases. They are not aware of the various activities which could help them earn more and raise their standard of living. Mainly it is due to ignorance, lack of education and knowledge. Thus, it is the duty of the educated and skilled people to visit them, to make them aware of their abilities and help them in any way they can. By doing so, they will be able to raise the overall standard of the people and raise the economy of the country.


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