Topic Details (Notes format)

Role of Innovation, Sustainability, and Global Integration

Subject: Economics

Book: Comprehensive Indian Economy

As India aspires to higher growth, long-term success hinges on integrating innovation-led models, sustainable resource use, and deeper global engagement. Innovation fosters product diversification, brand value, and resilience against global shocks. Sustainability secures resource availability for future generations, reflecting the synergy of environmental consciousness and economic planning. Global integration expands exports and inflows of capital/technology but demands competitiveness and compliance with international standards. For final exam outlines, emphasize a holistic vision: bridging agriculture-industry-service linkages, adopting circular economy principles, and shaping foreign policy that aligns with domestic development goals.

Practice Questions

Which of the following is NOT an example of an indirect tax?

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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 term refers to the decrease in the value of a currency relative to foreign currencies?

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

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What is the “law of diminishing marginal utility”?

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

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What is “currency devaluation”?

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What is the main objective of disinvestment in public sector undertakings (PSUs)?

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

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What does “primary sector” of the economy include?

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