Multiple choice

The modern Indian economy is best characterised by

  1. capital intensive mode of production

  2. labour intensive mode of production

  3. market oriented mode of production

  4. self-sufficient village system
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The modern Indian economy has transitioned from a closed, state-controlled system to one that is largely market-oriented, especially following the 1991 liberalization reforms.

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