There are some products that are inferior goods for most people but not everyone. For example, instant Ramen noodle packages can provide a quick and inexpensive meal, but most US consumers shift to other convenience foods as their incomes rise. However, my daughter Katherine loves this product and views Ramen as a normal good, so individual tastes and economic responses can vary.
Are there any particular food products that you would consume in lower quantities as your income rises? Do you think most people would also view this good as inferior? Has your view of this inferior product changed over time?
In Indian history, the centuries to come and that passed by, are recorded many great persons and legendary characters who shaped time through their extraordinary deeds and their excellence in every skill. But among of them, Kautilya may be the only one personality who has been respected and accepted as a brilliant person not only by Indian scholars but also western Scholars too. Kautilya was great political philosopher and thinker. We have been described as a great teacher, shrewd statesman, devoted patriot, deep thinker, ruthless administrator, master strategist, selfless ascetic, ideal philosopher and true saint. He is called all-rounder because he got mastery in all the branches of knowledge. He was well versed in commerce, warfare, Politics, Economics and Vedas. He lived around the third century B.C. but even today his ideas and principles show relevancy and applicability in the present day society. He is a historical milestone in the making of India. Kautilya is the greatest person with wisdom and knowledge. He is regarded pioneer in the field of Economics. The credit of establishment of Mauryan Empire goes to the foresight and knowledge of Kautilya. He was a key advisor and councilor of Chandragupta Maurya, the founder of Mauryan Empire. “This empire was not merely composed of a number of unrelated districts brought together under single sceptra; it was a real unit based on common government which everywhere not only established the king’s authority but the public good. Kautilya was chief architect of his rise to power so he is called kingmaker too. A man full of vision; he was always prepared for the worst. He had the guts to speak his heart out even in front of the rulers. He himself lived such a life, refusing all adornments, compassion towards the poor and evil to deceit when needed which shows some of his good characteristics of nature. Kautilya was a professor at the University of Takshashila which is located near Peshawar in Pakistan. He was the first man to envision the first Indian Empire by unification of the various small kingdoms in the Indian subcontinent. His prominent works are Nitishastra, Chanakya Niti and Arthashastra. Among these, Arthshastra was most important. He considered economic activity as driving force behind the functioning of any political action. Kautilya was a true thinker who bridged the gap between knowledge and vision. For Kautilya, good governance was supreme. LIFE SKETCH OF KAUTILYA – Unfortunately There is not certainity about the time period of the Kautilya So, details of his birth and life are not dependable and we have to rely on tradition. The expected period of the Kautilya is from 350-283 B.C.E. There are very few real historical facts about his birth and death except that he helped Chandragupta to mount the throne, to strengthen his empire and to unite the Indian states for fighting against Alexander of Macedonia around 327 B.C.E. Chandragupta Maurya established the Mauryan Empire in the year 321 B.C.E. Kautilya was probably born around 350 B.C.E. This shows that Kautilya was junior contemporary of Aristotle (384-322 B.C.E.). There is no proof that Kautilya was affected by Aristotleâ€Ÿs idea. Some historians have “questioning about Kautilyaâ€Ÿs existence”. His place of birth is not assured. Some say that he got the name Chanakya because he was born in China. The Buddhist men>GET ANSWER