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 objective of the Goods and Services Tax (GST)?

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What is the concept of “invisible hand” associated with?

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Which of the following is an example of fiscal policy?

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What does the Gini Coefficient measure?

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Which of the following is NOT part of the World Bank Group?

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Which of the following is NOT an example of an indirect tax?

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Which is the largest source of tax revenue for the Government of India?

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What does the “Human Development Index” measure?

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What is meant by the term “current account deficit”?

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What is the term for the ability of an economy to produce more output from the same inputs?

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