Tag: poverty as a challenge

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Multiple choice economics constraints in economic development of rajasthan programmes for poverty eradication poverty : challenge facing india poverty as a challenge

Arrange the following in proper from: Stages as Economics developed as a subject:-
I.Material Welfare Definition
II.Wealth Definition
III.Development and Growth Definition
IV.Scarcity and Choice Definition
Select the correct answer from the options given below -

  1. II, I, IV, III

  2. I, II, III, IV

  3. IV, III, II, I

  4. II, III, I, IV
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

  • Adam Smith was a Scottish economist who described economics as a science which deals with the creation of wealth where wealth generation focused on the personal gains of the individual which was more of capitalist economy.
  • Alfred Marshall was a British economist who proposed the definition of welfare according to which material welfare focused on the materialistic gains in the economy.
  • Paul A Samuelson was an American economists who proposed many theories on income and its even distribution and how these two factors leads to growth and development of the nation. Development and growth is the modern macroeconomics which focuses on personal gain with social welfare.
  • Lionel Robbins was a British economist who proposed a very scientific definition on  economics where he described the importance of effective relationship between scarcity and choice is the modern microeconomics which focuses on unlimited wants and scarcity of resources.

Multiple choice economics constraints in economic development of rajasthan programmes for poverty eradication poverty : challenge facing india poverty as a challenge

Net value added is equal to _________________.

  1. Payments accruing to factors of production

  2. Compensation to employees

  3. Wages plus rent plus rent

  4. Value of output minus depreciation
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Net value added is equal to Payments accruing to factors of production i.e. rent, wages, interest and profits.

Multiple choice economics constraints in economic development of rajasthan programmes for poverty eradication poverty : challenge facing india poverty as a challenge

Economics is the study of ___________.

  1. how society manages its unlimited resources

  2. how to reduce our wants until we are satisfied

  3. how society manages its scarce resources

  4. how to fully satisfy our unlimited wants
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Economics is the study that establishes an effective relationship between unlimited wants and scarce resources so that all the unlimited wants are mostly satisfied by the use of scarce resources. 
At micro level it deals with individual variables like consumer or producer and how they influence the market. 

At macro level it deals with the overall economic policies, aggregate variables of the economy.

Multiple choice economics constraints in economic development of rajasthan programmes for poverty eradication poverty : challenge facing india poverty as a challenge

Amartya Sen won the Nobel Prize for economics in _________.

  1. 1988

  2. 1991

  3. 1998

  4. 2000
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Amartya Sen is an Indian economist who was awarded the 1998 Nobel Prize for Economics for his contributions to welfare economics and social choice theory and for his interest in the problems of society's poorest members. 

Multiple choice economics constraints in economic development of rajasthan programmes for poverty eradication poverty : challenge facing india poverty as a challenge

Demographic dividend refers to a phenomenon in which _____________.

  1. life expectancy improves and normally people begin to live longer life

  2. the share of elderly persons in total population rises

  3. the proportion of working age population rises and dominates the age-composition.

  4. the proportion of children in total population rises.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

When the workforce population that ranges from 19-60 years rises in a country in comparison to other age composition it creates an advanced balance in the country's demographics as the production increases due to more contribution of the population. Such situations are known as demographic dividend.

Multiple choice economics constraints in economic development of rajasthan programmes for poverty eradication poverty : challenge facing india poverty as a challenge

Amartya Sen campaigned that the government must intervene more on behalf of the __________.

  1. urban poor

  2. rural poor

  3. poor

  4. illiterate
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Amartya Sen was an Indian economist who contributed to welfare economics and social choice theory and also established interest in the problems of society's poorest members. He was of the opinion that the government policies should focus on and prioritise the interests of the poor.

Multiple choice social science poverty : challenge facing india strategy for poverty eradication programmes for poverty eradication poverty as a challenge

India's per capita income is __________________.

  1. low as compared to developed countries but high as compared to developing countries.

  2. high as compared to both developed and developing countries.

  3. low as compared to both developed and developing countries.

  4. high as compared to developed countries but low as compared to developing countries.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

India is classified as a developing country, and its per capita income is relatively low compared to both developed nations and many other developing nations in terms of global purchasing power parity.

Multiple choice social science poverty : challenge facing india strategy for poverty eradication programmes for poverty eradication poverty as a challenge

________ Misrepresentation is known as fraud.

  1. Innocent misrepresentation

  2. Wilful misrepresentation with intent to deceive

  3. both

  4. none of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Fraud in legal terms involves intentional misrepresentation to deceive another party. Both innocent misrepresentation and wilful misrepresentation with intent to deceive are categories often discussed in legal contexts regarding contract validity, though strictly speaking, only the latter constitutes fraud.

Multiple choice social science poverty : challenge facing india strategy for poverty eradication programmes for poverty eradication poverty as a challenge

Gini Index is a measure of ________.

  1. distribution of wealth among individuals

  2. inequality of distribution of income/consumption of individual

  3. equality of distribution of income/consumption of individuals.

  4. level of well being of individuals
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Gini Index is a statistical measure of economic inequality. It quantifies the distribution of income or consumption among individuals in a population, where 0 represents perfect equality and 1 represents perfect inequality.

Multiple choice social science poverty : challenge facing india strategy for poverty eradication programmes for poverty eradication poverty as a challenge

The concept of relative property is relevant for _______________.

  1. developed countries

  2. developing countries

  3. socialist countries

  4. mixed economies
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Relative poverty refers to a standard of living compared to the economic standards of the rest of the population in a specific society. This concept is typically applied in developed countries where absolute poverty is less prevalent.