Social Psychology and Major Social Psychological Theories

Define Social Psychology. Also explain major Social psychological theories. Social Psychology: According to psychologist Gordon Allport, social psychology is a discipline that uses scientific methods “to understand and explain how the thought, feeling and behavior of individuals are influenced by the actual, imagined or implied presence of other human beings” (1985). Social psychology looks at a wide range of social topics, including group behavior, social perception, leadership, nonverbal behavior, conformity, aggression and prejudice. It is important to note that social psychology is not just about looking at social influences. Social perception and social interaction are also vital to understanding social behavior. Major Social Psychological Theories: 1.   Psychoanalytic Theory Sigmund Freud (1856-1939) is the founder of psychoanalytic theory. This theory assumes that every person has a given amount of vital psychic or mental energy called libido energy. The libido, the source of this psychic energy and the various channels through which […]

Continue Reading

Obstacles to Economic Development in Pakistan

Point out various obstacles to economic development of Pakistan and also narrate the current status of Pakistan’s economy. Obstacles to Economic Development in Pakistan Anything that makes slow the process of economic development is called obstacles to its functioning. The various obstacles to the Economic development 0″ Pakistan may be categorized as economic, social, cultural, administrative and political. Economic Obstacles Inadequacy of natural resources Natural resources are comprised of geographical configuration, soil, climate water resources, minerals etc. No country in the world is self-sufficient in this respect but fair degree of resources is needed for economic growth. In this respect, the position of Pakistan is not so discouraging but the overa’. position of Pakistan ..in this respect is not so rich. There are problems of salinity, water logging, floods, droughts, lack of forests, oil and gas, iror. gypsum, coal, copper, water, etc. Under-developed human resources. The labour force in developing […]

Continue Reading

Concept of Stock Market

Discuss the concept of Stock Market with special reference to Pakistan. Definitions A stock exchange is an organized market place in which securities such as bonds and common and preferred stocks are bought and sold. The origins of today’s stock exchanges unusually were informal gatherings of merchants and others who traded securities. The Stock Exchange for Stock Market is the market place of join stock companies, where stock certificates of big business enterprises, debentures, government bonds and bills of exchange are bought and sold. Those who have surplus cash with them and are interested to earn interest or profit without doing business by themselves purchase shares or bonds etc. at the stock exchange. In case they fall in need of money they sell these financial assets at the stock exchange. Role and Performance of Stock Exchange Money invested in stock exchange plays the double role for investment. On one hand, […]

Continue Reading

What is inflation?how it can be controlled?

What is inflation? Describe its root causes. Also explain how it can be controlled? Inflation: Inflation means generally rising money prices of goods and services. To understand what inflation is and is not, consider the above definition in detail: Goods and services: This refers not to stocks or bonds of other financial assets, but to the tangible and intangible commodities economic agents produce and sell to one another. These are commodities to be consumed or held for future use; e.g. food, haircuts, shelter, houses, health care, schooling, cars, tractors, machine tools. Money prices: This refers to amounts of money, dollars and cents in the United States, per commodity unit, e.g., per pound of butter, gallon of gasoline, haircut, bus trip, kilowatt hours, or diesel engine. In contrast, imagine the barter prices at which one commodity trades for another; e.g., 3 gallons of a gas for 1 hour of labour, two […]

Continue Reading

Balance of Payment and Balance of Trade

Differentiate between balance of payment and balance of trade. Also discuss the role of International Monetary Fund in the economy of Pakistan. Balance of Payment : Balance of payments is a systematic record of all economic transactions of visible and invisible goods. The export receipts and import payments on visible goods are the balance of the trade account and is a part of the balance of payments. However, there • more to it i.e. The export receipts and import  payments. of all the services rendered is also a part of the balance of payments. Thus to add up this we may say that the balance of payments shows all the record of all the payments and receipts of a country in terms of foreign exchange. According to the original concept, the balance of international payments of a country (the home country) equalled the net receipts or payments, or changes in […]

Continue Reading