Answer : Option DExplaination / Solution:
Rural development is the process of improving the quality of life and economic well-being of people living in rural areas, often relatively isolated and sparsely populated areas.
Q3.The need for planning emerges from the following weakness of the free market system
Answer : Option AExplaination / Solution:
In a free market the prices are reguated themselves. Supply and demand will reach the point of equilibrium where the most money will be made. However, what is best for the company is not necessarily what is best for the people. Therefore, to earn more profits companies exploit workers, which creates instability and inequality in economy.
Q4.Which diagram is used for finding the value of mode graphically?
Answer : Option BExplaination / Solution:
The hight of the rectangles in the histogram is marked by the frequencies of the class interval as shown in the graph .Identify the highest rectangle. This corresponds to the modal class of the series.
Which of the following is the cause of rural unemployment
(i) Decline in size of land holdings
(ii) Excessive use of foreign technology
(iii) Backwardness of agriculture.
Answer : Option CExplaination / Solution:
The major causes which have been responsible for the wide spread unemployment can be termed as Rapid Population Growth, Limited land, Seasonal Agriculture, Fragmentation of land, Backward Method of Agriculture, Decline of Cottage Industries, Defective education, Lack of transport and communication, Inadequate Employment Planning etc.
Q7.A company hires regular services from external sources mostly from other countries which were previously provided internally
Answer : Option DExplaination / Solution:
Outsourcing is the contracting of business processes to external firms usually in developing countries where labour costs are cheaper.
Q8.Which information is false regarding Lorenz curve
Answer : Option DExplaination / Solution:
The Lorenz curve, developed by Max O Lorenz in 1905, is a graphical representation of the distribution of the income or of wealth. It is used to represent inquality of the wealth distribution.
Answer : Option BExplaination / Solution:
"A state of complete physical, mental, and social well-being and not merely the absence of disease or infirmity." The state of being free from illness or injury.