Indian Economy Flashcards
(288 cards)
The term ‘mixed economy denoted
Existence of both private and public sectors
In an economy,the sectors are classified into public and private on the basis of
Ownership of enterprises
The “ Dual economy’ is a mixture of
Traditional agriculture sector and modern industrial sector
Which sector of Indian economy has shown remarkable expansion during the last decade?
Tertiary sector
When development in economy takes place, the share of tertiary sector in National income
Keeps on increasing
It will be true to classify India as
A labour surplus economy
Mixed Economy
Where public sector exits along with the private sector in national economy
The Indian Economy is characterised by
- Pre-dominance of agriculture
- Low per capita income
- Massive Unemployment
In India, planned economy is based on
Socialist system
Economic liberation in India started with
Substantial changes in industrial licensing policy
A firm sells new shares worth 1000INR direct to individuals. This transaction will cause
No impact on Gross National Product
Which is included in the private income arising in a country
- Factor income from net domestic product
- Net factor income from abroad
- Current transfers from government
NOT: Current Payments on Foreign loans
In India, agriculture income is calculated by
Output method
Who coined the term ‘Hindu rate of growth’ for Indian economy?
Raj Krishna
GDP at factor cost is
GDP minus indirect taxes plus subsidies
Per capita income is obtained by dividing National Income by
Total population of the country
Which one of the following is a development expenditure?
Irrigation expenditure
Gross Domestic Produt GDP is defined as the value of all
Final goods and services produced in an economy in a year
Depreciation is equal to
Gross National Product - Net National Product
Which one of the following is a method of measurement of national Income?
- Value Added Method
- Income Method
- Expenditure Method
NOT: Investment Method
Net National Product NNP of a country is
GNP minus depreciation allowances
National Income is based on the
Production of goods and services
Which of the following is definitely a major indication of the state of the economy of a country?
Rate of GDP growth
Which of the following can be called as a part of the service sector?
Banking