Topic Details (Notes format)

Bioeconomy and Biotech Sector

Subject: Economics

Book: Comprehensive Indian Economy - Additional Topics

India’s biotech potential extends to pharmaceuticals, agribiotech, and industrial enzymes. Initiatives strive to create biotech parks, encourage R&D, and attract global venture capital. For exam preparation, highlight how genetic engineering in seeds can raise yields, or how biotech helps produce vaccines, nutraceuticals, and industrial fermentation products. Intellectual property frameworks, skill gaps in advanced research, and ethical questions around GM crops or gene editing also appear in policy discussions.

Practice Questions

Which of the following measures can reduce a trade deficit?

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Which of the following is NOT an example of a direct tax?

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What is the “law of diminishing marginal utility”?

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What is the meaning of “dumping” in international trade?

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What is the main feature of a free-market economy?

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What is “open market operations” (OMO)?

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What is the term for the ability of an economy to produce more output from the same inputs?

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Which of the following is NOT a function of the World Trade Organization (WTO)?

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Which of the following best describes “capital formation”?

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What is meant by “marginal propensity to consume”?

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