ECO1
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Questions and Answers

What is one of the key-points of Robbins' definition of economics?

  • Means are unlimited
  • Ends are limited
  • Wants are unlimited (correct)
  • Means have no alternative uses
  • Which economist is associated with the growth theory?

  • J.S. Mill
  • Paul Romer (correct)
  • Adam Smith
  • David Ricardo
  • Who among the following economists contributed remarkably to the field of Environmental Economics?

  • J.M. Keynes
  • William Nordhaus (correct)
  • Alfred Marshall
  • Paul Romer
  • What did Prof. Alfred Marshall define as the study of mankind in the ordinary business of life?

    <p>Economics</p> Signup and view all the answers

    Which century is associated with the Modern School of Thought in economics?

    <p>20th century</p> Signup and view all the answers

    According to Alfred Marshall's welfare-oriented definition, what is the study of mankind in the ordinary business of life?

    <p>Economics</p> Signup and view all the answers

    What is the main focus of rural development in India?

    <p>Empowering rural communities</p> Signup and view all the answers

    Which of the following is NOT a significant aspect of rural development according to the text?

    <p>Urbanization</p> Signup and view all the answers

    What does the World Bank define as the target group for rural development?

    <p>Rural poor</p> Signup and view all the answers

    In what way does rural development contribute to public health improvement according to the text?

    <p>Providing safe drinking water</p> Signup and view all the answers

    What is considered a powerful instrument of socio-economic change in rural areas?

    <p>Higher literacy rate</p> Signup and view all the answers

    Which sector does rural occupational structure in general NOT include?

    <p>Tourism Sector</p> Signup and view all the answers

    What is the size of the 15th observation in the given data set?

    <p>6 lakhs</p> Signup and view all the answers

    In the context of quartiles, what does Q3 represent?

    <p>The 75th percentile of the data</p> Signup and view all the answers

    How is Q1 calculated for continuous frequency distribution?

    <p>Determining the 25th percentile of the data</p> Signup and view all the answers

    What does 'n + 1 th Observation' stand for in quartile calculations?

    <p>The total number of observations plus one</p> Signup and view all the answers

    What value is considered when calculating Q3 as per the provided text?

    <p>`8.25 lakhs value</p> Signup and view all the answers

    In quartile calculations, what does the size of the 45th observation indicate?

    <p>`10 lakhs value</p> Signup and view all the answers

    Which concept refers to the creation of capital assets through mobilization of savings?

    <p>Investment</p> Signup and view all the answers

    What do fluctuations in business activities, including ups and downs, refer to?

    <p>Trade Cycles</p> Signup and view all the answers

    Which part of income is set aside to satisfy future needs by foregoing current consumption?

    <p>Saving</p> Signup and view all the answers

    What does 'national income' represent in the economic sense?

    <p>Aggregate monetary value of all final goods and services produced in an economy during a year</p> Signup and view all the answers

    Which term relates to the volume of commodities and services produced during a given period without duplication?

    <p>National income</p> Signup and view all the answers

    What does 'economic growth' indicate according to the text?

    <p>Increase in economic growth plus real national income</p> Signup and view all the answers

    What is the share of industry in the Net Value Added (NVA) in Maharashtra as per the Annual Survey of Industries (ASI) 2016-17?

    <p>18%</p> Signup and view all the answers

    Which initiative by the Government of Maharashtra provides all clearances to existing and prospective investors through a single window cell?

    <p>Maharashtra Industry, Trade and Investment Facilitation Cell (MAITRI)</p> Signup and view all the answers

    Which sector does the Maharashtra State Industrial Cluster Development Programme (MSICDP) aim to develop?

    <p>Small, medium, and micro enterprises</p> Signup and view all the answers

    What type of support is provided to small scale industries in Maharashtra to encourage their participation in international exhibitions?

    <p>Space rent subsidies</p> Signup and view all the answers

    Which sector does the Service Sector typically include according to the text?

    <p>Insurance, tourism, retail banking</p> Signup and view all the answers

    What is the purpose of the Maharashtra Industry, Trade and Investment Facilitation Cell (MAITRI)?

    <p>To provide online consolidated information about the investment process</p> Signup and view all the answers

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