Topic Details (Notes format)

Research & Development and Innovation

Subject: Economics

Book: Comprehensive Indian Economy

Investment in R&D fosters technological advancement, higher productivity, and global competitiveness. India’s R&D spend remains modest compared to developed nations, concentrated in defense and space. Private sector involvement is growing in pharmaceuticals, IT, and automotive sectors. Government initiatives like Make in India, Atal Innovation Mission, and dedicated innovation labs encourage startups, but bridging lab-to-market gaps remains a challenge. Exam queries might revolve around IPR regimes, venture capital ecosystems, and the link between university research and commercial products. Strengthening patent enforcement and building a robust knowledge economy is a strategic imperative for higher-value exports.

Practice Questions

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

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

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What is the “law of diminishing marginal utility”?

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Which of the following is an example of a non-renewable resource?

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Which of the following is NOT part of the World Bank Group?

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

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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 monopolistic competition?

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

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What is the primary goal of a progressive tax system?

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