Per capita income shows the average income of citizens, giving a rough idea of a country’s economic well-being. However, it does not reveal income inequality, as a few wealthy people can raise the average even if most remain poor. Correct ...
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Correct Option is (b). All three sectors are interdependent. The primary sector provides raw materials, the secondary sector converts them into finished products and the tertiary sector supports both through transport, communication and trade, ensuring smooth production and distribution across ...
A cheque is a written instruction from an account holder directing the bank to pay a specific amount to a person or organization. It serves as a safe and convenient method for making payments without using cash. Correct Option: (d) ...
In a barter system, trade happens only if each person has what the other wants. This requirement of a double coincidence of wants makes trade inefficient and limits the number of potential trade partners. It is one of the main ...
Education improves human development by increasing literacy, employment and income levels. It enhances health and life expectancy, promotes gender equality and social awareness and reduces poverty. By creating skilled citizens, education drives economic growth and raises overall living standards and ...