Sustainable development focuses on meeting present needs without harming future generations. It raises new issues like resource conservation, pollution control and renewable energy. Example: Using solar power reduces fossil fuel use, ensuring development that protects the environment.
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Option (C) is correct because globalisation is encouraged when the government reduces trade barriers, lowers import–export taxes and removes restrictions on foreign investment. These steps attract global companies and promote free flow of goods, capital and technology.
Option A is correct because in a barter system, trade can only occur when both parties have matching needs. This “double coincidence of wants” makes exchange difficult and restricts trade opportunities, reducing overall economic efficiency and growth.
The World Bank gives priority to Per Capita Income as the main measure of development. It compares countries based on the average income earned per person, helping classify nations as rich, middle-income or poor economies globally. The correct answer is ...
India currently holds the fifth position in the world in terms of GDP, following the USA, China, Japan and Germany. This highlights the rapid economic growth of India and its rising contribution to global production and trade. The correct answer ...