On the basis of employment conditions, the economy is traditionally divided into the organized (or formal) sector and the unorganized (or informal) sector. This classification is based on factors such as regularity of employment, hours of work, wages, provision of social security benefits (like provident fund, gratuity, pension), and compliance with government rules and regulations.
On the basis of employment conditions, the economy is divided into
Asked in UPSC CAPF 2021 · Topic: Nature of Indian Economy (Developing Economy Characteristics)
More Economic Development questions
- The ‘Stand-Up India Scheme’ is related to which one of the following issues?
- Which of the following are High Frequency Indicators of the Indian economy ? Power Consumption 1. IIP General Index 2. 10-year G-sec yield 3. Select the correct answer using the code below.
- Consider the following statements regarding Public Goods and Externalities : 1. Non-rivalry and non-excludability are two characteristics of Public Goods 2. Market can provide the optimal amount of a good in the presence of externalities Which of the statements given above is/are correct ?
- Disguised unemployment generally means
- Economic growth in country X will necessarily have to occur if
- With reference to inflation in India, which of the following statements is correct?
- Despite being a high saving economy, capital formation may not result in significant increase in output due to
- Consider the following statements: Other things remaining unchanged, market demand for a good might increase if price of its substitute increases price of its complement increases the good is an inferior good and income of the consumers increases its price falls Which of the above statements are correct?