Multiple choice

Mark the correct statement:

  1. India is a purely capitalist economy.

  2. India is a stagnant economy.

  3. India is a developing economy.

  4. India is a resource-poor economy.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

India is classified as a developing economy based on indicators like transition from agrarian to industrial/service-based structure, growing GDP, improving human development indices, and ongoing modernization. It is neither purely capitalist (has significant public sector) nor stagnant (consistent growth trajectory). Resource endowment varies by sector but India is not resource-poor overall.

Keep practicing — related questions