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 considered a public good?

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What is meant by “stagflation”?

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What does “primary sector” of the economy include?

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Which of the following is an example of a capital receipt for the government?

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What is the meaning of “disguised unemployment”?

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What is the objective of the Goods and Services Tax (GST)?

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

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What does the “Human Development Index” measure?

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

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What does the term “capital account” refer to in the balance of payments?

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