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

What is the significance of “Purchasing Power Parity” (PPP)?

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What is the term for goods that are used together, such as cars and fuel?

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Which of the following sectors contributes the most to India’s GDP?

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What is the primary purpose of Special Economic Zones (SEZs)?

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What does “inclusive banking” mean?

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What is the main aim of Public Distribution System (PDS) in India?

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What is meant by “marginal propensity to consume”?

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Which of the following best describes “capital formation”?

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What is the objective of the Pradhan Mantri Jan Dhan Yojana?

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What is the meaning of “supply-side economics”?

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