Understanding the classification of the Indian economy and the foundational figures in economics is key.
With reference to Economic Growth, which of the following statements is/are correct? 1. Indian Economy is an Underdeveloped Economy. 2. Indian Economy is a Mixed Economy. 3. J.M. Keynes is the Father of Economics. Select the correct answer from the codes given below:
Asked in UPPCS Prelims 2024 · Topic: Nature of Indian Economy (Developing Economy Characteristics)
More Economic Development questions
- When a fall in price of a commodity reduces total expenditure and a rise in price increases it, price elasticity of demand will be :
- The rate at which the consumer is willing to substitute one good for another without changing the level of satisfaction is known as :
- Which of the following factors affects an individual’s demand for a commodity? 1. Price of the commodity 2. Income of the consumer 3. Prices of related goods Select the correct answer using the code given below:
- According to the Law of Diminishing Returns, in a production function when more and more units of the variable factor are used, holding the quantities of a fixed factor constant, a point is reached beyond which
- Zero price elasticity of demand means
- Suppose that the price of a commodity increases from ₹ 90 to ₹ 110 and the demand curve shows that the corresponding reduction in quantity demanded is from 240 units to 160 units. Then, the coefficient of the price elasticity of demand will be
- Which one of the following is an example of a price ceiling?
- Which one of the following statements is true with regard to an economy which is on its production possibility frontier?