Practicing Success

Target Exam

CUET

Subject

Business Studies

Chapter

Business Environment

Question:

What technology was primarily used for production at the time of Independence by the companies?

Options:

High productivity technology

Rational technology

Low productivity technology

Advanced machinery

Correct Answer:

Low productivity technology

Explanation:

The economic environment of business in India has been steadily changing mainly due to the government policies. At the time of Independence:
(a) The Indian economy was mainly agricultural and rural in character.
(b) About 70% of the working population was employed in agriculture.
(c) About 85% of the population was living in the villages.
(d) Production was carried out using irrational, low productivity technology.
(e) Communicable diseases were widespread, mortality rates were high. These was no good public health system.