Practicing Success

Target Exam

CUET

Subject

Sociology

Chapter

Social Change and Development in India: Globalisation and Social Change

Question:
Select a statement which includes characteristics of the Knowledge economy.
Options:
The major part of the economy is not based on manufacturing or material production but on the design development market and technology.
The knowledge economy exists in a society where education is commercialized
In a Knowledge economy, students are provided with loans for their education.
The knowledge economy is a traditional economy where importance is given to the conservation of traditional skills and knowledge.
Correct Answer:
The major part of the economy is not based on manufacturing or material production but on the design development market and technology.
Explanation:
A knowledge economy is one in which much of the workforce is involved not in the physical production or distribution of material goods, but in their design, development, technology, marketing, sale and servicing