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 organization publishes the Human Development Index (HDI)?

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What is “inclusive growth”?

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What is the term for the price at which demand and supply in a market are equal?

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Which of the following is considered a public good?

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What is meant by “credit rating”?

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What is meant by “marginal propensity to consume”?

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What is meant by “crowding out” in economics?

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What does the term “elasticity of demand” measure?

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What is a “repo rate”?

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