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 aim of Public Distribution System (PDS) in India?

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What is meant by “crowding out” in economics?

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Which of the following is a feature of a command economy?

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What does the term “national income” refer to?

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What is “quantitative easing”?

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What is the main aim of the “Startup India” initiative?

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Which term refers to an economy that has elements of both capitalism and socialism?

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What is the objective of the Goods and Services Tax (GST)?

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What is “open market operations” (OMO)?

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Which of the following is an example of a non-renewable resource?

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