Topic Details (Notes format)

Role of Innovation, Sustainability, and Global Integration

Subject: Economics

Book: Comprehensive Indian Economy

As India aspires to higher growth, long-term success hinges on integrating innovation-led models, sustainable resource use, and deeper global engagement. Innovation fosters product diversification, brand value, and resilience against global shocks. Sustainability secures resource availability for future generations, reflecting the synergy of environmental consciousness and economic planning. Global integration expands exports and inflows of capital/technology but demands competitiveness and compliance with international standards. For final exam outlines, emphasize a holistic vision: bridging agriculture-industry-service linkages, adopting circular economy principles, and shaping foreign policy that aligns with domestic development goals.

Practice Questions

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

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What is the main purpose of monetary policy?

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

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

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What is the meaning of “dumping” in international trade?

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

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Which of the following factors is NOT included in the calculation of Human Development Index (HDI)?

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What is the main objective of disinvestment in public sector undertakings (PSUs)?

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Which of the following measures is most effective in controlling inflation?

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

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