Topic Details (Notes format)

Bioeconomy and Biotech Sector

Subject: Economics

Book: Comprehensive Indian Economy - Additional Topics

India’s biotech potential extends to pharmaceuticals, agribiotech, and industrial enzymes. Initiatives strive to create biotech parks, encourage R&D, and attract global venture capital. For exam preparation, highlight how genetic engineering in seeds can raise yields, or how biotech helps produce vaccines, nutraceuticals, and industrial fermentation products. Intellectual property frameworks, skill gaps in advanced research, and ethical questions around GM crops or gene editing also appear in policy discussions.

Practice Questions

What does the “Human Development Index” measure?

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What is the Phillips Curve?

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What is meant by “liquidity trap”?

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Which of the following is NOT a component of Aggregate Demand?

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What is meant by “structural unemployment”?

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Which economic concept is described as “the next best alternative foregone”?

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What does the term "depreciation" refer to in the context of assets?

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Which of the following is NOT a function of the World Trade Organization (WTO)?

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What is a “repo rate”?

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What is the primary goal of a progressive tax system?

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