What is the sectoral composition of an economy? Is it necessary that the service sector should contribute maximum to the GDP of an economy? Comment.
The sectoral composition of an economy is the contribution of different sectors to the total GDP of an economy during a year. That is, the share of the agricultural sector, industrial sector and service sector in GDP. Yes, it is necessary that at the later stages of development, the service sector should contribute the maximum to the total GDP. This phenomenon is called Structural Transformation. This implies that gradually the country's dependence on the agricultural sector will shift from the maximum to minimum and, at the same time, the share of the industrial and service sector in the total GDP will increase. This structural transformation together with the economic growth is termed as economic development.
Why was the public sector given a leading role in industrial development during the planning period?
Match the following:
1. Prime Minister 3. Quota 4. Land Reforms 5. HYV Seeds 6. Subsidy |
A. Seeds that give large proportion of output C. Chairperson of the planning commission D. The money value of all the final goods and services produced within the economy in one year. E. Improvements in the field of agriculture to increase its productivity F. The monetary assistance given by government for production activities. |
What is marketable surplus?
What is the Green Revolution? Why was it implemented and how did Does it benefit the farmers? Explain in brief.
Explain ‘growth with equity’ as a planning objective.
Why was it necessary for a developing country like India to follow self-reliance as a planning objective?
Why and how was the private sector regulated under the IPR 1956?
Why should plans have goals?
Define a plan?
Why did India opt for planning?
What was the focus of the economic policies pursued by the colonial government in India? What were the impacts of these policies?
What are the two major sources of human capital in a country?
What do you mean by rural development? Bring out the key issues in rural development.
Who is a worker?
Explain the term ‘infrastructure’.
What is meant by environment?
Why are regional and economic groupings formed?
Why were reforms introduced in India?
Why calorie-based norm is not adequate to identify the poor?
Name some notable economists who estimated India’s per capita income during the colonial period?
Explain how the opportunity costs of negative environmental impact are high.
Outline the steps involved in attaining sustainable development in India.
What happens when the rate of resource extraction exceeds that of their regeneration?
Are the following workers — a beggar, a thief, a smuggler, a gambler? Why?
Is environmental crisis a recent phenomenon? If so, why?
Identify six factors contributing to land degradation in India.
Compared to urban women, more rural women are found working. Why?
Classify the following into renewable and non-renewable resources
(i) trees (ii) fish (iii) petroleum (iv) coal (v) iron-ore (vi) water
Explain the relevance of intergenerational equity in the definition of sustainable development.
An establishment with four hired workers is known as (formal/informal) sector establishment.