Topic Details (Notes format)

Impact of Technology on Economic Sectors

Subject: Economics

Book: Comprehensive Indian Economy

Technological disruptions reshape agriculture (precision farming), manufacturing (automation, Industry 4.0), and services (telemedicine, e-education). While productivity gains are notable, concerns over job displacement exist. Digital payments revolutionize retail and informal sectors, improving transparency. Government e-marketplace (GeM) streamlines procurement. Understanding data privacy, cybersecurity, and bridging the digital gap is vital for balanced development. For exams, focus on case studies—like using drones for crop health monitoring or AI in supply chain optimization—illustrating real economic benefits. Recognize potential pitfalls, such as skill obsolescence and privacy challenges, demanding robust policy frameworks.

Practice Questions

What is the main feature of a free-market economy?

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What is the main aim of Public Distribution System (PDS) in India?

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Which of the following measures can reduce a trade deficit?

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Which of the following is NOT an example of a direct tax?

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What is the purpose of the "Minimum Support Price" (MSP) in India?

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Which of the following is a direct tax?

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What is the objective of the Pradhan Mantri Jan Dhan Yojana?

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What is “inflation targeting”?

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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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What is the primary purpose of Special Economic Zones (SEZs)?

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