Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Indian Economy:1950-1990

Question:

_ _ _ _ _ _ was provided by the Government to expand productivity only if the government was convinced that the economy required a larger quantity of goods.

Options:

License

Quota

Tariff

Sunsidy

Correct Answer:

License

Explanation:

The correct answer is option (1) : License

1. The term "License" here refers to a system where the government provided licenses to particular entities or individuals to carry out certain activities or businesses, such as producing or selling certain goods.

2. These licenses were often provided by the government to control and regulate the production of goods and services within the economy.

Therefore, the correct answer is (1) License.