Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:

Growth of GDP and major sectors (in %) -

Sectors 1980-1991 1992-2001 2002-2007 2007-2012 2012-2017 XII plan
          Target I Target II
Agriculture 3.6 3.3 2.3 3.2 4.0 4.2
Industry 7.1 6.5 9.4 7.4 9.6 10.9
Services 6.7 8.2 7.8 10.0 10.0 10.0
Total 5.6 6.4 7.8 8.2 9.0 9.5

In economics, growth of an economy is measured by :

Options:

Gross Domestic Product

Gross National Product

Net National Product

Net Domestic Product

Correct Answer:

Gross Domestic Product

Explanation:

The correct answer is option (1) : Gross Domestic Product

Explanation : GDP is a common indicator used to measure the economic performance and growth of a country. It represents the total value of all goods and services produced within the borders of a country over a specific time period. Other indicators like Gross National Product (GNP), Net National Product (NNP), and Net Domestic Product (NDP) also provide insights into economic activity but GDP is commonly used as a primary measure of economic growth.