Definition of Economics

Q.

Why do we observe regional differences in educational attainment in India?

Q.

Suppose you are from a poor family and you wish to get help from the government to set up a petty shop. Under which scheme will you apply for assistance and why?

Q. Answer the following questions

What are the features of economic growth?

Q. Give reasons or explain

1. Economic growth is a quantitative concept.

2. Industrial progress is an important indicator of economic development.

Q. Which of these come under the umbrella of Economics?

1. Distribution of wealth
2. Literacy
3. Unemployment
4. All of these

Q. Economics cannot be neutral between ends, as it is _______.

1. more practical, realistic, growth oriented, etc.
2. none of these.
3. not only light giving but also fruit bearing
4. both (a) and (b)

Q. A statistical study has yielded the result that a certain section of the society remains poor because the children of school going age are doing manual labour. Hence, when they become adults of this community they would not have the sufficient knowledge and skills to get high paying jobs. As an economist, what policy would you recommend for this situation?

1. Create better-paying jobs for the people in that community
2. Make resources available to them at subsidized prices
3. Invest in robots to do more manual labour
4. Make free and compulsory education available to the children in the community

Q. "Economic laws are mere statement of tendencies and hypothetical". This statement is ______.

1. none of these
2. partially correct
3. absolutely incorrect
4. absolutely correct

Q. The passage suggests which of the following about the workers who took temporary jobs during the 1980s?

1. Their jobs frequently led to permanent positions within firms.
2. They constituted a less demographically diverse group than has been suggested.
3. They did not necessarily prefer temporary employment to permanent employment.
4. Their pay declined during the decade in comparison with the pay of permanent employees.
5. They were occasionally involved in actions organized by labor unions.

Q. Study of the relationship between various economic factors requires the use of statistics.

1. True
2. False

Q. Economic data is generally released by _____.

1. NSSO
2. Planning commision
3. Finance Ministry
4. RBI