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To examine the roles of imports and exports in determining equilibrium income in an open economy, we follow the same procedure as we did for the closed economy case – we take investment and government spending as autonomous.Throughout India the richest merchants and bankers were gaining a stake in the new political order.Any mistake in this regard can result in high cost of production, inconvenience in getting right kind of production inputs or serving the customers in the best possible way.We shall be looking at our natural resources like forests, wild-life, water, coal and petroleum and see what are the issues at stake in deciding how these resources are to be managed for sustainable development.For such a situation to develop people have to organise, communicate, take initiative and display the confidence to turn the situation around.It is necessary to take into account such an expected loss while calculating true and fair profit/loss according to the principle of Prudence or Conservatism.This is to enable the users to make correct assessment about the profitability and financial soundness of the enterprise and help them to take informed decisions.They do not have any stake in ensuring that one particular area should yield on optimal amount of some produce for all generations to come.Is there a way to take into account the earnings made by Indians abroad or by the factors of production owned by Indians? When we try to do this, in order to maintain symmetry, we must deduct the earnings of the foreigners who are working within our domestic economy, or the payments to the factors of production owned by the foreigners.It means that every manager can direct his immediate subordinate and take instructions from his immediate boss.In the product method, to avoid double counting, we need to deduct the value of intermediate goods and take into account only the aggregate value of final goods and services.Each entry mode has its own advantages and disadvantages which the firm needs to take into account while deciding as to which mode of entry it should prefer.This mode of nutrition in which organisms take in nutrients in solution form from dead and decaying matter is called saprotrophic nutrition.The water we take in, plays an important role in metabolic processes and also prevents dehydration of the body.The estimates of revenue receipts take into account the effects of tax proposals made in the Finance Bill Broadly speaking, revenue expenditure consists of all those expenditures of the government which do not result in creation of physical or financial assets.