Analysing Industrial Revolution

Q.

How did the capital-intensive labour-saving technology help the British economy?

1. Britain was able to substitute expensive capital with cheap labour

2. Britain was able to substitute cheap labour with expensive capital

3. Britain was able to substitute cheap capital with expensive labour

4. Britain was able to substitute expensive labour with cheap capital

Q. Which United Nations body publishes World Development Report (WDR) every year?

Q. Expansion and contraction in demand are caused by ____________.

1. change in price of a commodity
2. change in prices of related goods
3. change in population
4. change in income

Q. In the Human Development Index, the per capita income is calculated in ______.

1. indian rupees
2. currency of every country individually
3. US dollars
4. British pound sterling

Q.

In the post-industrial world, people and not productivity was the main driver of growth.

1. True

2. False

Q.

1. The choice of product.
2. Factorial distribution of income.
3. None of the above.
4. The choice of technique.

Q. Explain with reasons whether you agree or disagree with the following statement.
Increase and expansion in supply means the same.