IGNOU MED 3 2018 - Explain the economics of demand and supply of energy.

Question

Explain the economics of demand and supply of energy.

09 Mar 2018

Answer :

Word Count : 317

Energy is an essential building block of economic development.

In an effort to meet the demands of a developing nation, the Indian energy sector has witnessed a rapid growth. Areas like the resource exploration and exploitation, capacity additions, and energy sector reforms have been revolutionized.

However, resource augmentation and growth in energy supply have failed to meet the ever increasing demands exerted by the multiplying population, rapid urbanization and progressing economy. Hence, serious energy shortages continue to plague India, forcing it to

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