Economic growth in country X will occur if

[UPSC Civil Services Exam – 2013 Prelims]

(a) there is technical progress in the world economy

(b) there is population growth in X

(c) there is capital formation in X

(d) the volume of trade grows in the world economy


Answer: (c)        

Explanation:

  • The economic growth of any country results in a healthy and wealthy nation.
  • Economic Growth means the increase in the level of GDP of the country.
  • It can be possible only when all the factors of production are applied in the right manner i.e. land, labor, capital, and entrepreneurship.
  • The capital formation in any country boosts its development as investment activities increases resulting in high production, increase in per-capita income, employment generation, the standard of living, poverty reduction, etc. Hence option 3 is correct.

 

Consider the following statements:                                                                   The Parliament of India can place a particular law in the Ninth Schedule of the Constitution of India. The validity of a law placed in the Ninth Schedule cannot be examined by any court and no judgement can be made on it. Which of the statements given above is/are correct?

Consider the following statements:                                               

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Consider the following statements:                                                         The Parliament of India can place a particular law in the Ninth Schedule of the Constitution of India. The validity of a law placed in the Ninth Schedule cannot be examined by any court and no judgement can be made on it. Which of the statements given above is/are correct?

Consider the following statements:                                               

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