Topic Details (Notes format)

Impact of Technology on Economic Sectors

Subject: Economics

Book: Comprehensive Indian Economy

Technological disruptions reshape agriculture (precision farming), manufacturing (automation, Industry 4.0), and services (telemedicine, e-education). While productivity gains are notable, concerns over job displacement exist. Digital payments revolutionize retail and informal sectors, improving transparency. Government e-marketplace (GeM) streamlines procurement. Understanding data privacy, cybersecurity, and bridging the digital gap is vital for balanced development. For exams, focus on case studies—like using drones for crop health monitoring or AI in supply chain optimization—illustrating real economic benefits. Recognize potential pitfalls, such as skill obsolescence and privacy challenges, demanding robust policy frameworks.

Practice Questions

Which of the following is an example of fiscal policy?

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

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Which of the following measures can reduce a trade deficit?

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What does the term "depreciation" refer to in the context of assets?

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Which economic concept is described as “the next best alternative foregone”?

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Which of the following is a feature of a command economy?

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What is “inflation targeting”?

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What does the Gini Coefficient measure?

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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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What is the purpose of the "Minimum Support Price" (MSP) in India?

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