The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) 2005 ensures 100 days of wage employment annually for rural households. If the government cannot provide these 100 days of work, it is legally required to pay compensation to the workers, fulfilling the scheme’s objective of liveliRead more
The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) 2005 ensures 100 days of wage employment annually for rural households. If the government cannot provide these 100 days of work, it is legally required to pay compensation to the workers, fulfilling the scheme’s objective of livelihood security. Correct Option is (a)
The correct answer is (d). India ranks fifth globally in terms of GDP, after the USA, China, Japan and Germany. This ranking reflects India’s growing strength in industrial, agricultural and service sectors. Rapid development in the service sector, especially IT and finance, has boosted India’s globRead more
The correct answer is (d). India ranks fifth globally in terms of GDP, after the USA, China, Japan and Germany. This ranking reflects India’s growing strength in industrial, agricultural and service sectors. Rapid development in the service sector, especially IT and finance, has boosted India’s global economic status, making it one of the fastest-growing major economies in the world.
The correct answer is (d). The World Bank uses Per Capita Income as the primary indicator to assess the development level of different countries. It divides the total national income by the population to determine average income per person. Based on this, countries are classified into low-income, miRead more
The correct answer is (d). The World Bank uses Per Capita Income as the primary indicator to assess the development level of different countries. It divides the total national income by the population to determine average income per person. Based on this, countries are classified into low-income, middle-income and high-income groups, reflecting their economic strength and living standards.
The correct answer is (A). In a barter system, trade depends on the “double coincidence of wants,” meaning each person must have something the other wants. This makes trade complex and time-consuming, as it’s difficult to find suitable partners. Such limitations reduce economic activity and efficienRead more
The correct answer is (A). In a barter system, trade depends on the “double coincidence of wants,” meaning each person must have something the other wants. This makes trade complex and time-consuming, as it’s difficult to find suitable partners. Such limitations reduce economic activity and efficiency, highlighting why money was introduced — to act as a common medium of exchange simplifying transactions.
The correct answer is (C). Globalisation expands when the government reduces trade barriers, lowers import and export taxes and removes restrictions on foreign investment. These policies make it easier for foreign companies to enter domestic markets, encouraging international trade and investment. ORead more
The correct answer is (C). Globalisation expands when the government reduces trade barriers, lowers import and export taxes and removes restrictions on foreign investment. These policies make it easier for foreign companies to enter domestic markets, encouraging international trade and investment. On the other hand, reducing competition among producers (Statement II) would hinder globalisation by limiting economic freedom and innovation.
Mahatma Gandhi National Rural Employment Guarantee Act 2005 states a guarantee of minimum 100 days of employment per year. If government is unable to fulfil these 100 days of an employment, the government would have to ………….. . Choose the correct option:
The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) 2005 ensures 100 days of wage employment annually for rural households. If the government cannot provide these 100 days of work, it is legally required to pay compensation to the workers, fulfilling the scheme’s objective of liveliRead more
The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) 2005 ensures 100 days of wage employment annually for rural households. If the government cannot provide these 100 days of work, it is legally required to pay compensation to the workers, fulfilling the scheme’s objective of livelihood security. Correct Option is (a)
See lessAccording to recent global data, India’s economy is among the largest in the world. Which of the following correctly represents India’s position in terms of GDP ranking?
The correct answer is (d). India ranks fifth globally in terms of GDP, after the USA, China, Japan and Germany. This ranking reflects India’s growing strength in industrial, agricultural and service sectors. Rapid development in the service sector, especially IT and finance, has boosted India’s globRead more
The correct answer is (d). India ranks fifth globally in terms of GDP, after the USA, China, Japan and Germany. This ranking reflects India’s growing strength in industrial, agricultural and service sectors. Rapid development in the service sector, especially IT and finance, has boosted India’s global economic status, making it one of the fastest-growing major economies in the world.
See lessWhich one of the following indices is given priority by the World Bank with respect to development? (a) Infant Mortality Rate (b) Equality (c) Body Mass Index (d) Per Capita Income
The correct answer is (d). The World Bank uses Per Capita Income as the primary indicator to assess the development level of different countries. It divides the total national income by the population to determine average income per person. Based on this, countries are classified into low-income, miRead more
The correct answer is (d). The World Bank uses Per Capita Income as the primary indicator to assess the development level of different countries. It divides the total national income by the population to determine average income per person. Based on this, countries are classified into low-income, middle-income and high-income groups, reflecting their economic strength and living standards.
See lessPerson Z tries to explain how the requirement of a double coincidence of wants in a barter system limits trade and exchange. Which of the following justification do you think will be used by him/her?
The correct answer is (A). In a barter system, trade depends on the “double coincidence of wants,” meaning each person must have something the other wants. This makes trade complex and time-consuming, as it’s difficult to find suitable partners. Such limitations reduce economic activity and efficienRead more
The correct answer is (A). In a barter system, trade depends on the “double coincidence of wants,” meaning each person must have something the other wants. This makes trade complex and time-consuming, as it’s difficult to find suitable partners. Such limitations reduce economic activity and efficiency, highlighting why money was introduced — to act as a common medium of exchange simplifying transactions.
See lessRead the following statements for stimulating the process of globalisation and choose the correct option: I. Government reduces trades barriers II. Government reduces competition among producers III. Government reduces import and export taxes IV. Government removes restrictions on foreign investment. Options:
The correct answer is (C). Globalisation expands when the government reduces trade barriers, lowers import and export taxes and removes restrictions on foreign investment. These policies make it easier for foreign companies to enter domestic markets, encouraging international trade and investment. ORead more
The correct answer is (C). Globalisation expands when the government reduces trade barriers, lowers import and export taxes and removes restrictions on foreign investment. These policies make it easier for foreign companies to enter domestic markets, encouraging international trade and investment. On the other hand, reducing competition among producers (Statement II) would hinder globalisation by limiting economic freedom and innovation.
See less