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Indian Economy 1950-1990

Question

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Write the three questions which are to be answered by every society.
Or

Write down three decisions which are to be taken by every society.

Solution

A society has to answer the following three questions:

1. Choice of production : What goods and services should be produced in the country?

2. Choice of technique : How should the goods and services be produced? Should producers use more human-labour or more capital for producing things?

3. For whom to produce : How should the goods and services be distributed among people?

Some More Questions From Indian Economy 1950-1990 Chapter

What is mixed economy?

What is meant by economic growth?

What structural change undergoes with development of the economy?

Name the sectors from which the GDP of a country is derived.

On which idea is the policy of 'land to tiller' is based?

Where is the provision for economic and social planning in our Constitution?

Why is agriculture called the backbone of Indian Economy?

What is meant by agriculture?

What are the main causes of backwardness of Indian agriculture?

What do you mean by land reforms?

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