Topic Details (Notes format)

Tourism and Hospitality Industry

Subject: Economics

Book: Comprehensive Indian Economy

Tourism generates foreign exchange, creates employment, and promotes cultural exchange. Initiatives like PRASAD (pilgrimage rejuvenation) or Swadesh Darshan enhance infrastructure around key heritage sites. Medical tourism is a fast-growing niche, leveraging cost-competitive health services. Despite potential, the industry faces bottlenecks in connectivity, hygiene, and skill deficits among service staff. Students should highlight synergy with allied sectors—transport, handicrafts, local SMEs—and how digital marketing or e-visa policies boost inbound travel. In exam answers, connect tourism growth to local community benefits, balanced with preserving cultural heritage and ecological concerns.

Practice Questions

Which organization publishes the Human Development Index (HDI)?

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

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Which organization is responsible for estimating India’s Gross Domestic Product (GDP)?

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

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What is meant by “monetary policy”?

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

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What is “fiscal stimulus”?

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What does the “Human Development Index” measure?

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Which of the following causes demand-pull inflation?

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