Case Study (1- 3)
Since Independence, the condition of the labor workforce has been improving in India. All the factors such as education policy and health care have led to the improvement of the workforce. The growth of population has had posed some serious threats in the Economy concerning the employment generation.
The prospects of Rural development have been improving with respect to the growth of many financial institutions in the rural areas. The NABARD oversees all the regional rural banks and regulates them for the proper functioning of the Rural Economy.
There have been many skill development initiatives taken by the government of India to improve the Human Capital as well.
1. ______________ Helps in the formation of human capital.
(i) Health
(ii) Employment
(iii) Both (i) and (ii)
(iv) Neither (i) and (ii)
Ans. Both (i) and (ii)
2. In economy, labor force and workforce are equal in a situation, when the:
(i) Population grows at a slower rate
(ii) No growth in population
(iii) No unemployment
(iv) The growth rate of the population is greater than the growth rate of employment
Ans. No unemployment
3. Human Capital includes:
(i) Health
(ii) Education
(iii) Professional Skill
(iv) All of the above
Ans. All of the above
Case study (4 – 7)
To produce in an Economy, there are four factors, i.e. land, labor, capital, and entrepreneur are required. The government must help and nurture all the factors. Moreover, the major investment needs to be done on capital.
There are two types of capital, namely physical and Human Capital. To increase the physical capital the government needs to invest in infrastructure and acquisition of new technologies. This leads to the generation of employment, leading to the reduction in the problem of unemployment, that a country like India is suffering with.
There are different types of unemployment present in India, namely seasonal, disguised, industrial, fictional, and many others. Most of the employment problems can be solved if the government focuses on investment in education to improve the quality of Human Capital, and for skill development, increase in efficiency and productivity, and overall growth of the economy, for all the three sectors in the economy.
4. Why do we need to invest in human capital?
(i) Skill development
(ii) Increase efficiency
(iii) Increase Productivity
(iv) All of the above
Ans. All of the above
5. The kind of unemployment in which workers seems to be working but its contribution to production is negligible is called:
(i) Seasonal Unemployment
(ii) Disguised Unemployment
(iii) Industrial Unemployment
(iv) Educated Unemployment
Ans. Disguised Unemployment
6. The Production process engaged in transforming one good to another is known as:
(i) Primary Sector
(ii) Secondary sector
(iii) Tertiary Sector
(iv) None
Ans. Secondary sector
7. Name the active factor in production
(i) Land
(ii) Physical Capital
(iii) Human Capital
(iv) None of the above
Ans. Human capital
Case Study (8 – 10)
In July 2017, The Government of India introduced the new Indirect Tax regime called the Goods and Service Tax, which subsumed all the other types of taxes so that India could have a single tax system all over the country for better transparent tax collection.
Other than that, GST has enabled the increase in the efficiency of agricultural marketing as well.
The simplified tax regime has confined and made it easier to transact in the economy.
Not only GST, but the government has done a lot of other initiatives to boost the agricultural sector of India. The emphasis on diversification of Agriculture and schemes like the National Rural Health Mission, National Health Insurance Scheme, MGNREGA, and others have helped in improving the rural livelihood and the condition of the rural households.
The states like Punjab, Haryana, and Himachal Pradesh have proposed a lot from agricultural diversification, but GST had no role to play in it, neither did it help these states. Even though GST was introduced to subsume all the indirect taxes, but still the center levies custom duty, excise duty, etc and petroleum product has VAT charged. Though the government has its reasons for doing so, it hinders the actual base of GST itself.
8. GST abolished all the direct taxes levied in India. (True/ False)
Ans. False
9. Mention the state that has achieved prosperity in Agriculture and Horticulture?
Ans. Punjab/ Haryana/ Himachal Pradesh. (Any1)
10. Agriculture marketing does not comprise of _____________ (Choose the correct alternative)
(i) Transportation of the product to the marketplace for sale.
(ii) Grading of the products according to the quality.
(iii) Storage of the produce for sale in the future.
(iv) Credit took to meet expenditure on agriculture.
Ans. Credit took to meet expenditure on agriculture.
Case Study (11 – 14)
Growth and Development are the main focus of the Indian Economy in the current situation. To develop the government can borrow money from the world bank, IMF and IBRD, or any other international Banks like ADB. The money so taken as a loan can be focused on both the development of infrastructure and urbanization plans. If we talk about the sectoral contribution on the growth of the GDP of an economy, we can see that the Tertiary sector plays a very important part, but as the tertiary sector doesn’t lead to much employment and does not create as many jobs as the secondary and primary sector, India is experiencing a condition called Jobless Growth. Development of industries and technology needs to be done in India so that there is more employment generation and the economy develops with a long-term perspective.
11. What do you mean by the term “Jobless Growth”?
(i) If economic growth is driven by better technology failing to improve the rate of participation in the economy, such growth is called ‘Jobless growth’
(ii) If economic growth is driven by better technology and also improves the rate of participation in the economy, such growth is called ‘Jobless Growth’
(iii) If economic growth is driven by obsolete technology and due to which the participation is less, such growth is called ‘Jobless Growth’
(iv) If economic growth is driven by obsolete technology but there is an improvement in the rate of participation in the economy, such growth is called ‘Jobless Growth’
Ans. If economic growth is driven by better technology failing to improve the rate of participation in the economy, such growth is called ‘Jobless growth’
12. Urban people are mainly engaged in the
(i) Primary sector
(ii) Service sector
(iii) Training
(iv) Agriculture
Ans. Service sector
13. What is the full form of IMF?
(i) International Makers Fund
(ii) International Monetary fund
(iii) Inter Monetary fund
(iv) Intergovernmental Money fund
Ans. International Monetary fund
14. Economy cannot develop without ____________________. (Employment Growth/ Sustainable Development/ Industrial development)
Ans. Employment Growth
Case study (15 – 17)
India can grow only if the real India grows. It is said that for the real India to grow, the government need to focus on the development of the rural area and as more than half of the population of India are in the primary sector, so if the development is focused on them then it will lead to the overall growth of the Indian Economy.
Green Revolution was one such initiative taken by the government which improved the production of the crops with the use of High Yield Variety seeds and use of fertilizers. This made India not only self-reliant but also helped it to become an exporter of food grains rather than an importer. This made India grow faster and increased the contribution of agriculture to the GDP:
15. Identify the element which is not related to the green revolution:
(i) Improved seeds
(ii) New strategy for agriculture
(iii) Fertilizers
(iv) Increase in population
Ans. Increase in population
16. Use of ______________ (HYV/ HVY/ Green/ Organic) seeds were promoted in green revolution.
Ans. HYV
17. India economy is marching ahead towards progress but there is an improvement required in _________________ (primary/ secondary/ tertiary) sector.
Ans. Primary
Case study (18 – 21 )
The Indian Economy has grown many folds after the Economic Reform of 1991. The policies of LPG have given access to the Indian markets to the foreign players which have increased the competition in the domestic market and an urge to buy better products. With this, the small sector and medium sector enterprises have suffered as they are labor-intensive, and usage of machinery is very less or no usage at all. Though the disinvestment of PSUs had been disinvested every year as according to the target set by the government, has led to the increase in efficiency of those industries, but the share of India in the world Trade remains very low even after 29 years of the economic reforms.
18. What does LPG stand for?
(i) Liquified Petroleum gas
(ii) Liberalization Privatisation Globalisation
(iii) Liberalization privatized Global Economy
(iv) Liquified Private Globalisation
Ans. Liberalization Privatisation Globalisation
19. In cottage Industries, Machines are not used, whereas these are used in ___________
(i) Small Sectors
(ii) Micro Sectors
(iii) Private Sector
(iv) Government Sector
Ans. Private Sector
20. Disinvestment of public sector enterprises means, to hand over public sector in the hand of __________________ (Private Sector/ Foreign Sector/ Service Sector)
Ans. Private Sector
21. What percentage of India’s share in World Trade has been targeted as per Foreign Trade Policy, 2004- 2009?
(i) 1 percent
(ii) 2 percent
(iii) 1.5 percent
(iv) 2.5 percent
Ans. 1.5 percent
Case Study (22- 25)
Infrastructure is one of the most important backbones of any economy. Development of infrastructure leads to the proper growth of the economy. Social Infrastructure, like health and education, helps indirectly in the growth of GDP and physical Infrastructure helps directly. They both help in solving the problem of unemployment. Thus, the government needs to focus on improving the social infrastructure of the economy at large. Expenditure in Health and Education leads to the development of Human Capital and enables a better supply of workforce that is both healthy and skilled.
With regard to physical infrastructures like roads and railways help to foster the growth of Industries, all small scale, medium scale, and large scale industries. As the population of India is large, so to remove the disguised unemployment, the government has set up committees aimed at helping the development of small-scale industries and villages as they are more labor-intensive, unlike the large-scale industries. One such committee was Karve Committee constituted in 1955 which witnessed the potential of utilizing small-scale industries for promoting rural development.
22. Social infrastructure helps in production and distribution:
(i) Indirect form
(ii) In the indirect form
(iii) In no way
(iv) In Both (i) and (ii)
Ans. In Both (i) and (ii)
23. __________ (Health Expenditure/ Food for All/ Skill Development Programme) directly increases the supply of healthy labour force.
Ans. Health Expenditure
24. Which type of unemployment is more in India:
(i) Open unemployment
(ii) Disguised unemployment
(iii) Seasonal unemployment
(iv) Educated unemployment
Ans. Disguised unemployment
25. In 1955, Karve committee was constituted for aiming the ______________
(i) Development of Small Scale industries
(ii) Development of Large Scale industries
(iii) Feasibility of LPG
(iv) Development of infrastructure
Ans. Development of Small Scale industries
Case Study (26 – 29 )
Employment has been a big problem in the Indian Economy. With the lockdown during the Covid- 19 pandemic, the unemployment level in the country increased a lot. The worse hit was the manufacturing sector and service sector especially the tourism sector was also hit hard. Employment does depend on skill development and literacy level, but here the main problem was the pandemic crisis. The workforce participation rate sharply declined and resulted in a loss of jobs.
The literacy rate has been increasing substantially in the country, and to educate, the educational institutes had to start taking online classes, so that the education is not suffered. But, it is not that all the students could avail themselves of online classes. Lack of technologies and infrastructure in rural households and urban poor households were stringently denied the right to education, as they could not have online education. On one hand, literacy was increasing for the rich, absolute illiteracy affected the poor, seeing a sharp rise in the absolute number of illiterates in India.
The government sector had to work with half of its workforce, decreasing productivity. It is not that all the sectors were suffering in the service sector. The delivery of essential goods took a new turn and the e-commerce delivery services like Big Basket, Groffers, Amazon Groceries, reported a rise in their services. There was an emergence of jobs for both IT sector services as the need for video conferencing apps like ZOOM, Google Meet, and Skype grew considerable for the social distancing norm.
26. ___________ in India has increased but so has the absolute number of illiterates.
(i) Poverty Rate
(ii) Illiteracy rate
(iii) Mortality Rate
(iv) Literacy Rate
Ans. Literacy Rate
27. The newly emerging jobs are found mostly in the ________________ (agriculture/ manufacturing/ service) sector.
Ans. Service sector
28. ____________ (work force participation rate/ literacy rate/ technology) an indicator which is used for analyzing the employment situation of a country.
Ans. Workforce participation rate
29. Which service sector suffered the most during the covid- 19 situation?
(i) Tourism
(ii) E-commerce
(iii) IT sector
(iv) Telecom
Ans. Tourism
Case Study (30 – 33)
As the world enters Industrialisation 4.0 with the concept of A.I. and Digital Transactions, Indian Industrialisation didn’t begin before the independence. The British didn’t take any interest in industrializing the nation and used it just for raw materials. Post-independence in the second plan the process of Industrialisation began in India. The agro-based industries like tea, textile, and jute dominated the industrialization process. But this didn’t lead the unemployment to slow in the economy. Moreover disguised unemployment could be seen in the economy, mostly in the Agricultural and Manufacturing sectors. The industries did employ both women and men and so improved the workforce participation.
30. Process of industrialization was started in which five-year plan?
(i) First Plan
(ii) Second Plan
(iii) Third Plan
(iv) Fourth Plan
Ans. First Plan
31. Which industry employs the largest number of women in India?
(i) Tea
(ii) Textile
(iii) Jute
(iv) Coal
Ans. Tea
32. You are a factory owner and have given employment to 400 workers if 10 workers are dismissed by you without loss of the production then, name the situation described.
(i) Structural
(ii) Cyclical
(iii) Voluntary
(iv) Educated
Ans. Structural
33. Find the odd one out:
(i) Rickshaw puller who work under a rickshaw owner
(ii) Mason
(iii) Mechanic shop worker
(iv) Shoeshine boy
Ans. Mason
Case Study (34 – 37)
Sustainable Development means the development with regards to sustaining the life of the present generation without depriving the future generations of their needs. This is a new concept in development and is very essential for lessening environmental degradation.
The concept arose due to the increase in pollution, as with the greed of the people they started to exploit more of the earth’s resources leading to land degradation and pollution. The excessive use of non-renewable resources caused a major threat to the environment and biodiversity, that is both abiotic and biotic factors were at risk and were depleting.
Not only that the global temperature of the Earth increased and the greenhouse gases were emitted from the industries and vehicles causing the earth’s average temperature to rise many folds every year. In the Paris climate agreement it was decided that the rise in temperature to not be more than 2% but looking at the amount of pollution released by major economies like India, China, and the US, it seems a distant dream.
The main concern with India and China is that they have to develop their economies, so the carbon emission is increased due to the development processes of making infrastructure. Thus, there is a situation of a paradox for the countries, as they want to develop which seems impossible without emitting carbon or any other greenhouse gases. It seems the sustainable development goals look like a distant dream.
34. The essential condition for sustainable growth is:
(i) Protection of natural resources
(ii) Pollution-free growth
(iii) Quality of life
(iv) All of the above
Ans. All of the above
35. Out of the following one is a non-renewable source:
(i) Forest
(ii) Water
(iii) Sunrays
(iv) Coal
Ans. Coal
36. What is a gradual increase in the average earth’s temperature due to greenhouse gases call.
(i) Green House Gases
(ii) Global Warming
(iii) Rise in sea level
(iv) Heat Trap
Ans. Global Warming
37. To which type of infrastructure, transport is related?
(i) Economic
(ii) Social
(iii) Both (i) and (ii)
(iv) None of the above
Ans. Economic
Case study (38 – 41)
The Indian Economy is mainly agricultural, with almost 60% of its workforce being a part of the agricultural sector directly or indirectly. Other working populations are mostly self-employed with disguised unemployment. The possibility of disguised unemployment is maximum in the sector. In order to improve agriculture, the government has established a lot of markets and mandis and with the new bill recently passed, the government assures the farmers to have a wider reach of the market all over India. Not only this, Kisan Credit Card allows the farmers to get loans easily. The NABARD regulates all the rural banks, thus, in turn, helping with the needs of the farmers.
38. The majority of the workforce in the Indian Economy is dominated by:
(i) Agricultural Sector
(ii) Industrial Sector
(iii) Service sector
(iv) All of the above
Ans. Agriculture Sector
39. Government has introduced a lot of facilities for the farmers. Which is the one from the following?
(i) Kissan Credit Card
(ii) Landlords
(iii) Zamindars
(iv) Moneylenders
Ans. Kissan Credit Card
40. In economy, labor force and workforce are equal in a situation, when the:
(i) Population grows at a slower rate
(ii) No growth in population
(iii) No unemployment
(iv) Growth rate of population is greater than the growth rate of employment
Ans. No unemployment
41. According to the nature of employment, how are a large part of labor employed in India?
(i) Self Employment Workers
(ii) Landless Workers
(iii) Bonded Labours
(iv) None of them
Ans. Self Employment Workers