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Title Name Amity Solved Assignment BA Economics 1st for Economic History Of India
University AMITY
Service Type Assignment
Course BA(Economics)
Semister Semester-I Cource: BA(Economics)
Short Name or Subject Code Economic History Of India
Commerce line item Type Semester-I Cource: BA(Economics)
Product Assignment of BA(Economics) Semester-I (AMITY)

Solved Assignment


  Questions :-

                                                                                                  Economic History Of India

Assignment A

1 .Explain the meaning of commercialization of agriculture showing the change in the pattern of traditional agriculture?
2 .How has decline in handicrafts lead to progressive ruralisation of the Indian economy?
3 .Explain how the agrarian classes (landlords, peasants, labourers) were affected by various agrarian systems under the British rule?

 

 

Assignment B
Case Detail:
AS IT IS A HISTORICALLY BASED THEORY PAPER THERE IS NO CASE STUDY.
Give Answer following Questions
Please give your answer in at least 25 words and press save and continue button.
1. How does a famine lead to weakening of the economic condition of masses? Name the major famines and examine the death toll under it.

2. “Finance is the life – blood of an economy.” Elaborate the sentence in Indian context during the British rule.

 

 

 

Assignment C
Question No. 1
High Death rates and low birth rates are seen in which stage of demographic transition

Options

a) First
b) Second
c) Third
d) None of the above

 

Question No. 2
Traditional path of growth followed by developing economies is.

Options

a) Agriculture, Industry and then Service led growth
b) Agriculture, Serviceand then Industry led growth
c) Service, Agriculture and then, Industry led growth
d) Industry, Agriculture, and then Service led growth

 

Question No. 3
Share GDP from primary sector in overall GDP of India for 1950-51 was

Options

a) Over 50 percent
b) Over 40 percent
c) Under 50 percent
d) 50 percent

 

Question No. 4
Labour participation in agriculture sector declined from 73 percent in 1950-51 to

Options

a) Under 30 percent
b) Under 20 percent
c) Under 50 percent
d) None of the above.

 

Question No. 5
First trade union was formed in India in

Options

a) 1870
b) 1921
c) 1918
d) None of the above

 

Question No. 6
In 1934 India experienced

Options

a) Trade deficit
b) Trade surplus
c) Trade balance (exports=imports)
d) None of the above

 

Question No. 7
Home Charges were paid by______ to _________

Options

a) British to Indians
b) Indians to British
c) Poor India’s to Landlords
d) None of the above

 

Question No. 8
During 1950-51 agriculture contributed

Options

a) Under 30 percent of national income
b) Over 80 percent of national Income
c) Around 50 percent of national income
d) None of the above.

 

Question No. 9
The share of government sector in net domestic product for 1950-51 was:

Options

a) 6.9 percent
b) 7.6 percent
c) 9.0percent
d) None of the above

 

Question No. 10
Development of railways led to

Options

a) Dampening of economic growth
b) Price volatility
c) Development of ‘Social-Saving’ model
d) All the above.

 

Question No. 11
Railways was introduced in the Indian economy in

Options

a) 1843
b) 1850
c) 1853
d) None of the above

 

Question No. 12
Second phase of development in railways was during

Options

a) 1880-1915
b) 1886-1895
c) 1890-1945
d) None of the above

 

Question No. 13
First economist to put forward the concept of ‘social saving’ was

Options

a) Hurd
b) Maddison
c) Adam Smith
d) None the above.

 

Question No. 14
What kind of economy did India have in the pre British Era.

Options

a) Subsistence level
b) Mixed
c) Capitalist
d) Socialist

 

Question No. 15
Which business organization represented British interests in India?

Options

a) East India Company
b) Mackenzie and brothers
c) British royals
d) Indian group of industries

 

Question No. 16
Which continent traders dominated India in 14th and 15th century?

Options

a) America
b) Europe
c) Africa
d) Asia.

 

Question No. 17
Why were the towns more famous during the British rule?

Options

a) More employment opportunities
b) Pilgrimage
c) Seats of court and capital of province
d) All the above

 

Question No. 18
Identify the most important consequence of British interference in Indian economy?

Options

a) Loss of Trade
b) Decline of handicrafts
c) Increase of imports
d) Commercialization of agriculture

 

Question No. 19
When was the first jute mill set up in India.

Options

a) 1840s
b) 1850s
c) 1860s
d) 1870s

 

Question No. 20
Mention the causes of slow growth of private enterprise?

Options

a) Unimaginative private enterprise
b) Problem of capital and private enterprise
c) Private enterprise and the role of the government
d) Option a,b & c

 

Question No. 21
Name the major industries that initially started working in India

Options

a) Cotton textiles.
b) Heavy industries
c) Consumer goods industries.
d) a, b ,& c

 

Question No. 22
India is in which stage of demographic transition.

Options

a) First
b) Second
c) Third
d) Fourth

 

Question No. 23
Rapid population growth results in which of the following:

Options

a) Increased employment
b) Burden on infrastructure
c) Increased per capita income
d) Lower Cost of Production

 

Question No. 24
During 1921-1951 India experienced

Options

a) Steady Growth of population
b) Stagnant Growth of population
c) Rapid Growth of population
d) None of the above

 

Question No. 25
High Death rates and low birth rates are seen in which stage of demographic transition

Options

a) First
b) Second
c) Third
d) None of the above

 

Question No. 26
Traditional path of growth followed by developing economies is.

Options

a) Agriculture, Industry and then Service led growth
b) Agriculture, Serviceand then Industry led growth
c) Service, Agriculture and then, Industry led growth
d) Industry, Agriculture, and then Service led growth

 

Question No. 27
Share GDP from primary sector in overall GDP of India for 1950-51 was

Options

a) Over 50 percent
b) Over 40 percent
c) Under 50 percent
d) 50 percent

 

Question No. 28
Labour participation in agriculture sector declined from 73 percent in 1950-51 to

Options

a) Under 30 percent
b) Under 20 percent
c) Under 50 percent
d) None of the above.

 

Question No. 29
First trade union was formed in India in

Options

a) 1870
b) 1921
c) 1918
d) None of the above

 

Question No. 30
In 1934 India experienced

Options

a) Trade deficit
b) Trade surplus
c) Trade balance (exports=imports)
d) None of the above

 

Question No. 31 Marks - 10
Measurement of ………….uses national income accounting

Options
a) economic growth
b) economic development
c) both
d) none

 

Question No. 32 Marks - 10
………………... is no guarantee of escaping poverty

Options
a) employment
b) income
c) expense
d) all

 

Question No. 33 Marks - 10
Increases in employment without………... in productivity leads to a rise in the number of working poor,

Options
a) increases
b) decrease
c) fall
d) all

 

Question No. 34 Marks - 10
The ……………..cycle is made up of booms and drops in production that occur over a period of months or years.

Options
a) business
b) operating
c) cash
d) bicycle

 

Question No. 35 Marks - 10
……….is the study of the economic aspects of the development process in low-income countries

Options
a) economic growth
b) economic development
c) both
d) none

 

Question No. 36 Marks - 10
Measuring national income at ………. may overcome this problem at the risk of overvaluing basic goods and services, for example subsistence farming.

Options
a) GDP
b) ERP
c) IRP
d) PPP

 

Question No. 37 Marks - 10
Comparison of GDP from one country to another may be distorted by movements in …………………

Options
a) prices
b) costs
c) exchange rates
d) all

 

Question No. 38 Marks - 10
GDP takes ……..account of the inputs used to produce the output.

Options
a) a single
b) no
c) one
d) two

 

Question No. 39 Marks - 10
Measures of GDP typically ………... unpaid economic activity, most importantly domestic work

Options
a) forget
b) exclude
c) include
d) reject

 

Question No. 40 Marks - 10
Countries with higher GDP may be more likely to also score ………. on other measures of welfare, such as life expectancy

Options
a) high
b) low
c) one
d) zero

  Answers :-

                                                                                   Economic History Of India

1 .Explain the meaning of commercialization of agriculture showing the change in the pattern of traditional agriculture?        

Answer:

Commercialisation of agriculture is a phe­nomenon where agriculture is governed by commer­cial consideration i.e. certain specialised crops began to be grown not for consumption in village but for sale in national and even in international market.

Commercialisation of Agriculture (COA) ad­versely affected the rural peasantry. The negative as­pect of C.O.A. is as follows:

(i) C.O.A. did not lead to the growth of strong and prosperous agricultural system. The condition of peasant remained precarious as before.

(ii) C.O.A. did not give boost to agricultural produc­tion which could benefit peasants. This did not impart organised form of agricultural system in any way. C.O.A. points toward gradual decline of agricultural system.

(iii) Owing to C.O.A. products got linked with Indian and world markets. This brought peasant class under influence of market forces. The peasant class got adversely affected owing to imbalances in market condition.

(iv) C.O.A. adversely affected self-sufficiency of vil­lage economy and acted as major factor in bring­ing the declining state in rural economy.

(v) Agriculture at that time was subsistence in na­ture and C.O.A. land emphasis on production of cash crops when led to decline in local produc­tion. This adversely affected the condition of peasants. Now under influence of C.O.A. agri­culture got associated with fulfilment of market in place of individual needs.

(vi) Commercialisation effected traditional relations between agriculture and industry. In Indian tra­ditional relations acted as factors for each other’s development which were hampered.

(vii) C.O.A. indicated a commercial revolution. But this was devoid of any support from any technologi­cal revolution. Owing to true the healthy ben­efits which agriculture and associated fields would have enjoyed were lacking.

(viii) An adverse effect of commercialisation on Peas­ants was that their dependence on money lender’s and mediators increased. Peasants received only a small fraction of profit.

(ix) C.O.A. did not encouraged growth of land mar­ket because major profit of commercialisation went to company traders and mediators.

In spite of having many negative effect commercialisations in one sense was progressive event. Commercialisation encouraged social exchange and it made possible the transformation of Indian economy into capitalistic form.

Commercialisation linked India with world economy. It led to the growth of high level social and economic system. The important contribution of commercialisation reflected in integration of economy. It also created a base for growth of national economy commercialisation of agriculture led to growth of na­tional agriculture and agricultural problem acquired national form.

Further, the replacement of custom and tradition by competition and contract also led to the commercialization of Indian agriculture was also aided by the expansion of means of transportation and communication. The laying of railway lines and expansion of rail and road transport enabled the transportation of agricultural products from production centres to markets.

Another boosting factor for commercialization of agriculture in India was the gaining of speed of Industrial Revolution in England. This led to factor in commercialization as more and more agricultural goods were produced to satisfy the demand for raw materials by the British industries. The enlargement and expansion of international trade and the entry of British finance capital also belted commercialization of agriculture.

This was especially so in cotton as the civil war disrupted the supplies of cotton from America and thereby increased demand for Indian cotton. Further, the British policy of one way free trade also acted as sufficient encouraging factor for commercialization as the manufactured items in textile, jute etc. could find free entry in Indian markets, where as the manufactured goods did not have similar free access to European markets.

The commercialization of agriculture was a forced and artificial process for the majority of Indian peasants. It was introduced under coercion of the British and not out of the incentive of peasantry at large. The peasantry went for cultivation of commercial crops under duress.

 

 

2 .How has decline in handicrafts lead to progressive ruralisation of the Indian economy?     

Answer:

The popular belief that India had never been an industrial country, is incorrect.  It was true that agriculture was the dominant occupation of its people but the products of Indian industries enjoyed a worldwide reputation.  The Muslim of Dacca, the calicos of Bengal, the sarees of Banaras and other cotton fabrics were known to the foreigners. The chief industry spread over the whole country was textile handicrafts. The textile handicrafts includes chintzes of Lucknow, dhotis and dupattas of Ahmedabad, silk, bordered cloth of Nagpur and Murshidabad.  In addition to cotton fabrics, the shawls of Kashmir, Amritsar and Ludhiana were very famous. India was also quite well-known for her artistic industries like marble-work, stone-carving, jewellery, brass, copper and bell-metal wares, wood-carving, etc. The cast-iron pillar near Delhi is a testament to the high level of metallurgy that existed in India. In this way Indian industries, “Not only supplied all local wants but also enabled India to export its finished products to foreign countries”.

Decline of Indian Handicrafts and Progressive Ruralisation of the Indian Economy:

Before the beginning of Industrial Revolution in England, the East India Company concentrated on the export of Indian manufactured goods, textiles, spices, etc., to Europe where these articles were in great demand. But the Industrial Revolution reversed the face of Indian’s foreign trade.  Tremendous expansion of productive capacity of manufactures resulted in increased demand of raw materials for British industry and the need to capture foreign markets.  Following principal causes that led to the decay of handicrafts were as follows:-

  1. Disappearance of Princely courts: The growth of industries is only possible due to patronage of nawabs, princes, rajas & emperors who ruled in India. The British rule meant the disappearance of this patronage enjoyed by the handicrafts. Cotton and silk manufactures suffered especially.
  2. Competition of machine-made goods: The large-scale production that grew as a result of Industrial Revolution meant a heavy reduction in costs. It also created a gigantic industrial organization and, consequently, the machine-made goods began to compete with the products of Indian industries and handicrafts. This led to the decline of textile handicrafts. Whereas the British emphasized the free import of machine-made manufactured goods they did not allow the import of machinery as such. The decline of Indian handicrafts created a vacuum which could be filled by the import of British manufactures only.
  3. The development of new forms and patterns of demand as a result of foreign influence: With the spread of education, a new class grew in India which was keen to imitate western dress, manners, fashions and customs so as to identify itself with the British officials. This led to a change in the pattern of demand. Indigenous goods went out of fashion and the demand for European commodities got a fillip. Besides, there was a loss of demand resulting from the disappearance of princely courts and nobility.  Thus, the British rule, silently but surely, alienated the Indians not only from Indian culture but also diverted in its favour their form and pattern of demand for goods.

 

 

3 .Explain how the agrarian classes (landlords, peasants, labourers) were affected by various agrarian systems under the British rule?       

Answer:

In the British India a new type of landlords was created out of the erstwhile tax collectors viz. the Zamindars and permanent land settlement. Under the term of this settlement the right of ownership was conferred on the Zamindars. Before this settlement’, the land was to be auctioned by the State on patta basis on which the Zamindars only had the right to collect revenue. After this settlement, this land became theirs permanently i.e., they became hereditary owners of this land. Zamindars’ only obligation was the payment of fixed land revenue to the British Government.

Broadly, there were two types of landlords:

  • The Zamindars taluqdars (old landlords) and
  • Money-lenders, merchants and others. Those who held such ownership of tenure rights were often referred as intermediaries.

On the eve of the independence, the class of intermediaries owned a large portion of land, while the peasant cultivators had little or no lands.

The Zamindari system was abolished in the 1950’s for abolition of intermediaries. The abolition of Zamindari system had several consequences. It led to the formation of new classes. When Zamindari system was abolished, the Zamindars declared themselves as the owners of land and they forced most of the tenants out of the land which they had given on lease. As a result most of the tenants who were actually cultivating the land prior to land reforms were thrown out of their lands and most of them became landless labourers. After the land reforms the Zamindars in .U.P simply came to be renamed as bhoomidars, i.e. cultivators of the soil. However, the zamindars lost their right to extract taxes from the peasants. They were left with truncated landholding.

The erstwhile landlords took maximum benefits out of the Green Revolution programme launched by the Government .These had led to the development of a class of “gentlemen “or progressive farmers who had some education and training in agriculture .

Another settlement made by the British is known by the name of Ryutaro Settlement .Under this system ownership of land was vested in the peasants -the actual cultivators subject to the payment of revenue. This settlement gave rise to a class of peasant proprietors. In the process, a few climbed up in the socio – economic hierarchy but a large number fell from their previous rank and position. A great majority of them were transformed into tenants and even agricultural labourers.

In the post – independence period, there was increase in the number of peasant proprietors This was due to the abolition of Zamindari system and ceiling on existing land holding.

The peasant proprietors, in the past as well as in the present, hardly constitute a homogeneous category.

They may be broadly divided into three categories – (i) The rich, (ii) The middle and (iii) The poor peasants:

(i) Rich Peasants:

They are proprietors with considerable holding. They perform no field work but supervise cultivation and take personal interest in land management and improvement. They are emerging into a strong capitalist armer group.

(ii) Middle Peasants:

They are landowners of medium size holdings. They are generally self- sufficient. They cultivate the land with family labour.

(iii) Poor Peasants:

They are landowners with holdings that are not sufficient to maintain a family. They are forced to rent in other’s land or supplement income by working as labourers. They constitute a large segment of the agricultural population.

Social Classes in Urban India:

In the urban areas social classes comprise principally. (i) Capitalists (commercial and industrial), (ii) Professional classes, (iii) Petty traders and shopkeepers and (.v) Working

  1. Commercial and Industrial Class:

During British rule there was the growth of a class of merchants engaged in export -import business. Thus, there came into being a commercial middle class invested in the country. Subsequently, rich commercial middle Cass invested their savings in the form of capital in large -scale manufactured goods and modern industries. Indian society thus, included in its composition such new groups as mill owners mine owners etc. Economically and socially this class turned out to be the strongest class India.

After independence, the major fields like agriculture, industry and trade were left to the private individuals/The creation of infrastructure and establishment of heavy industries were taken of by the State sector .This type of economy led to a phenomenal rise in the number of industries owned and controlled by the capitalists .It also led to the rise of commercial classes. There is heavy concentration of assets, resources and income in a few business houses such as the Tatas, Birlas, Dalmias, and a few others.

  1. Professional Classes:

During British rule .there came into being an expanding professional class Such social categories were linked up with modern industry, agriculture, commerce, finance, administration, press and other fields of social life. The professional classes comprised lawyers ,doctors , teachers , managers and others working in the mode n commercial and other enterprises, engineers, technologists agricultural scientists and so Rapid industrialization and urbanization in post-independent India has opened the way for large-scale employment opportunities in industries trade and commerce ,construction transport service etc.

Similarly, the State has created a massive institutional set-up comprising a complex bureaucratic structure throughout the length and breadth of the country. Bureaucrats, management executives, technocrats, doctors, lawyers, teachers and journalists etc, have grown considerably in size and scale ever since independence ‘But this class hardly constitutes a homogeneous category. Within this non-proprietary class of non-manual workers, a deep hierarchy exists. There are some high paid cadres at the top and low paid at the bottom .They differ in their style of life as well .In view of these they have not crystallised into a well -defined middle class.

  1. Petty Traders, Shopkeepers and Unorganized Workers:

There has also been in existence in urban areas a class of petty traders and shopkeepers .These classes have developed with the growth of modern cities and towns .They constitute the link between the producers of goods and commodities and the mass of consumers. They make their living on the profit margin of the process on which they buy and sell their goods. “Like all other classes, this class has grown in large -scale in post-independent India. The unprecedented growth of the cities has stimulated the growth of this class. The growing urban population creates demands for various kinds of needs and services .Petty shop-keeping and trading caters to these needs of the urban population.

Besides these spheres of activities urbanisation also offers opportunities for employment in the organised and unorganised sector of the economy. The bulk of rural migrants lacks educational qualification and hence the organised sector is closed to them. They fall back upon the unorganised sector of economy. They work in small-scale production units or crafts, industry or manual service occupations. They get low wages and also are deprived of the benefits of the organised labour force.

This class also constitutes an amorphous category .It comprises on the one hand, self- employed petty shop-keepers, traders, vendor, hawkers and on the other; semi-skilled and unskilled workers in the informal sectors.

  1. The Working Class:

This was another class which emerged during British rule in India. This was the modern working class which was the direct result of modern industries .railways and plantations. This Indian. Working class was formed predominantly out of the pauperised peasants and ruined artisans.

The working class has grown in volume in post-independent India. They have also been distributed in different parts and different sectors of the industry. Thus, the working class has become much more heterogeneous. This diversity in the working class has given rise to a complex set of relations among the different sectors. In the post-independent India, the Government’s attitude towards the working class has become favourable. Several Acts were passed granting some facilities to the workers. Trade union movements have taken place in independent India. Yet considerable division exists among the trade unions in terms of control, sector and region of the industries.

 

 

 

Assignment  B

Case Detail: 

AS IT IS A HISTORICALLY BASED THEORY PAPER THERE IS NO CASE STUDY.

 Give Answer following Questions

Please give your answer in at least 25 words and press save and continue button.

  1. How does a famine lead to weakening of the economic condition of masses? Name the major famines and examine the death toll under it.

Answer:

By the same token, conflict has been a contributing factor to drought-led famine. A government that engages in armed conflict has a high military expenditure. Shifting scarce resources to the military budget always weakens critical development needs of a country. When the government´s full attention is on the conflict; they cannot pursue drought-relief, social, or development programs. In addition, the government usually spends all the available resources on the conflict, which also prevents it from addressing the economic needs of its people.

Landmines are an additional serious problem that has a profound impact on health, the economy, and the environment. In many war-torn countries these weapons have been scattered in farm fields, roads, even around schools and health centres. According to Adopt a Minefield, a UK-based organization, more than 80% of landmine causalities are civilians. Every day women and children are killed by landmines or injured during and after violent conflicts. Besides causing death and injury, landmines prevent people from using their farm lands and they block roads needed to fetch water. Landmines additionally cause village markets to close and communication between different villages to stop. Therefore, people either starve to death or wait for relief aid. But aid is also hampered or blocked entirely by mines in the roads. The Horn of African countries have been infested by landmines. For example, a UN Mine Action Centre survey indicated that the rural and nomadic people in Ethiopia and Eritrea are highly affected by landmines and unexploded ordinance left from long-lasting struggle of Eritrea for independence, Ethiopia´s conflict with neighbouring countries and the recent conflict between Ethiopia and Eritrea. The report states that there are around 6,295victims of mine accidents in those two countries. Making the land safe and available for farming and grazing is even more challenging. This is yet another way in which armed conflict intensifies the effects of drought and causes famine.

A major factor contributing to the issue of famine in Ethiopia is the economy of the country. The population of the country has risen to approximately 80 million since 1985, and the rate of crop production per-capita farm has reduced. Adding onto that, the global prices of producing and transporting food has dramatically increased, and Ethiopia does not have a stable enough economy to keep up a fair trade of international food aid. The food aid itself is fairly expensive. US Aid costs $2 of US taxpayers’ money to provide $1 of food aid. International food aid has provided Ethiopia with short-term help, but Oxfam says that food aid has made Ethiopia far too reliable on it and that using money for long-term solutions should be priorities. The Ethiopian economy has been growing, however, due to the drought, the amount of money from foreign aid that is available to use for tackling the famine crisis is lessened by $1.1 billion each year. On average, Ethiopia had received $1.3 billion each year over 11 years from international assistance to take action against the issue of famine, including humanitarian aid. The $1.1 billion used for tackling drought is also two-thirds more than what Ethiopia invests in agriculture. This shows that the country is receiving aid, but a lot of it is being utilised for different purposes, only leaving little to battle the major issue, famine. Paddy Ashdown, president of Britain’s branch of the U.N children’s agency in July, said “Crisis-chasing is not how we should be solving these problems”. He said that spending money on improving education, reducing population growth and encouraging urbanization could help Africans cope with drought. Ethiopian Prime Minister Meles Zenawi says it is “patently stupid” to change the wholesale direction of farming to big farms. “The problem that we face this year is not about production. It’s about income distribution, and income distribution in Ethiopia is not going to be improved by abandoning small-scale farms”, he said. The main issue of famine within this aspect of economy is that the prices of food worldwide have doubled due to global inflation, making the prices of producing and transporting food much more expensive. Also within Ethiopia, the national economy is fairly unstable and poor. The country does receive an amount of foreign aid each year intended for fighting famine, however, a lot of these expenses is used for different reasons such as building infrastructure and dealing with drought. This doesn’t leave much of the original amount to be used for food aid.

The Russian famine of 1921, also known as Povolzhye famine, was a severe famine in Bolshevik Russia which began in early spring of 1921 and lasted through 1922. This famine killed an estimated 6 million, primarily affecting the Volga and Ural River regions.

The famine resulted from combined effects of economic disturbance—which had already started during World War I, and continued through the disturbances of the Russian Revolution—and Russian Civil War with its policy of War Communism, especially prodrazvyorstka, exacerbated by rail systems that could not distribute food efficiently.

One of Russia´s intermittent droughts in 1921 aggravated the situation to a national catastrophe. Hunger was so severe, it was doubtful that seed-grain would be sown rather than eaten. At one point, relief agencies had to give grain to railroad staff to get their supplies moved.

           

 

  1. “Finance is the life – blood of an economy.” Elaborate the sentence in Indian context during the British rule.

 Answer:

 Finance has widely been termed as the master key providing access to all resources required for running business activities

Hence Efficient management of business enterprises is closed linked with efficient management of their finances. Finance is regarded as the life blood of a business enterprise this is because in the modern oriented economy. Finance is one of the basic Foundation Of all Kinds of economic activities. In general finance may be defined as the provision of money at the time it is required.

In the past two decades, academic research has produced massive evidence of the beneficial role of financial development for growth and the allocation of investment. Our current vision, however, is dominated by instances of dysfunctional behaviour of financial markets associated with acute and widespread crises. This raises the issue of when and why finance ceases to be the “lifeblood” and turns into a “toxin” for real economic activity. This paper is a first step towards an answer. Its thesis is that the metamorphosis occurs when finance becomes “too large” relative to the underlying economy. At this point finance stops contributing to economic growth and comes to threaten the solvency of banks and systemic stability. A related question is why regulation is not designed so as to prevent the financial industry from growing above this threshold. I argue that the answer lies largely in the symbiosis between politicians and the finance industry.

Finance is the life blood of economy. If there is no proper method of application and it will react negatively and diverse state the future of the Business Enterprises. According to Cronje ET. Al (1991), a financial function is one of the aspects of a business enterprise and a department that is involved with finances of the business is known as a financial department. Financial Management, as a discipline, is interlinked with other activities that occur within a business organization such as production, marketing, purchasing, personnel functions, and etc. The finance function consists of the people, technology, processes, and policies that dictate tasks and decisions related to financial resources of a company. Depending on the organization and the industry in which it operates, this function may be simple or complex. Some finance functions are overstaffed that is, they rely on individuals to perform both advanced and simple tasks while others are highly automated relying on people for decision making and policy setting exclusively. Regardless of the ratio of people to technology, the goal of the finance function is to serve the organization´s financial needs while laying a platform for the future. This means handling clerical tasks, providing information to the organization and setting financial policies and strategies that will serve the company in the future. To succeed in these three broad areas, the small and emerging business must be prepared to develop a finance function that both suits its needs and can adapt the growth and changes of the business. The first step is to develop an adequate finance function. To do this, it is important to understand the component parts

 

 

 

 

Assignment C

Question No.  1          

High Death rates and low birth rates are seen in which stage of demographic transition      

Options                     

  1. First
  2. Second
  3. Third
  4. None of the above

 

 

Question No.  2          

Traditional path of growth followed by developing economies is.   

Options                     

  1. Agriculture, Industry and then Service led growth
  2. Agriculture, Serviceand then Industry led growth
  3. Service, Agriculture and then, Industry led growth
  4. Industry, Agriculture, and then Service led growth

 

 

Question No.  3          

Share GDP from primary sector in overall GDP of India for 1950-51 was  

Options                     

  1. Over 50 percent
  2. Over 40 percent
  3. Under 50 percent
  4. 50 percent

 

 

Question No.  4          

Labour participation in agriculture sector declined from 73 percent in 1950-51 to   

Options                     

  1. Under 30 percent
  2. Under 20 percent
  3. Under 50 percent
  4. None of the above.

 

 

Question No.  5          

First trade union was formed in India in        

Options                     

  1. 1870
  2. 1921
  3. 1918
  4. None of the above

 

 

Question No.  6          

In 1934 India experienced      

Options                    

  1. Trade deficit
  2. Trade surplus
  3. Trade balance (exports=imports)
  4. None of the above

 

 

Question No.  7          

Home Charges were paid by______ to _________  

Options                     

  1. British to Indians
  2. Indians to British
  3. Poor India’s to Landlords
  4. None of the above

 

 

Question No.  8          

During 1950-51 agriculture contributed         

Options                    

  1. Under 30 percent of national income
  2. Over 80 percent of national Income
  3. Around 50 percent of national income
  4. None of the above.

 

 

Question No.  9          

The share of government sector in net domestic product for 1950-51 was:   

Options                     

  1. 9 percent
  2. 6 percent
  3. 0percent
  4. None of the above

 

 

Question No.  10        

Development of railways led to          

Options                    

  1. Dampening of economic growth
  2. Price volatility
  3. Development of ‘Social-Saving’ model
  4. All the above.

 

 

Question No.  11        

Railways was introduced in the Indian economy in   

Options                     

  1. 1843
  2. 1850
  3. 1853
  4. None of the above

 

 

Question No.  12        

Second phase of development in railways was during           

Options                     

  1. 1880-1915
  2. 1886-1895
  3. 1890-1945
  4. None of the above

 

 

Question No.  13        

First economist to put forward the concept of ‘social saving’ was    

Options                  

  1. Hurd
  2. Maddison
  3. Adam Smith
  4. None the above.

 

 

Question No.  14        

What kind of economy did India have in the pre British Era.           

Options                     

  1. Subsistence level
  2. Mixed
  3. Capitalist
  4. Socialist

 

 

Question No.  15        

Which business organization represented British interests in India? 

Options           

  1. East India Company
  2. Mackenzie and brothers
  3. British royals
  4. Indian group of industries

 

 

Question No.  16        

Which continent traders dominated India in 14th and 15th century?            

Options                     

  1. America
  2. Europe
  3. Africa
  4. India

 

 

Question No.  17        

Why were the towns more famous during the British rule?   

Options                     

  1. More employment opportunities
  2. Pilgrimage
  3. Seats of court and capital of province
  4. All the above

 

 

Question No.  18        

Identify the most important consequence of British interference in Indian economy?         

Options                     

  1. Loss of Trade
  2. Decline of handicrafts
  3. Increase of imports
  4. Commercialization of agriculture

 

 

Question No.  19        

When was the first jute mill set up in India.   

Options                  

  1. 1840s
  2. 1850s
  3. 1860s
  4. 1870s

 

 

Question No.  20        

Mention the causes of slow growth of private enterprise?    

Options                     

  1. Unimaginative private enterprise
  2. Problem of capital and private enterprise
  3. Private enterprise and the role of the government
  4. Option a,b & c

 

 

Question No.  21        

Name the major industries that initially started working in India      

Options                    

  1. Cotton textiles.
  2. Heavy industries
  3. Consumer goods industries.
  4. a, b ,& c

 

 

Question No.  22        

India is in which stage of demographic transition.     

Options                     

  1. First
  2. Second
  3. Third
  4. Fourth

 

 

Question No.  23        

Rapid population growth results in which of the following:  

Options                     

  1. Increased employment
  2. Burden on infrastructure
  3. Increased per capita income
  4. Lower Cost of Production

 

 

Question No.  24        

During 1921-1951 India experienced 

Options                     

  1. Steady Growth of population
  2. Stagnant Growth of population
  3. Rapid Growth of population
  4. None of the above

 

 

Question No.  25        

High Death rates and low birth rates are seen in which stage of demographic transition      

Options               

  1. First
  2. Second
  3. Third
  4. None of the above

 

 

Question No.  26        

Traditional path of growth followed by developing economies is.    

Options                    

  1. Agriculture, Industry and then Service led growth
  2. Agriculture, Serviceand then Industry led growth
  3. Service, Agriculture and then, Industry led growth
  4. Industry, Agriculture, and then Service led growth

 

 

Question No.  27        

Share GDP from primary sector in overall GDP of India for 1950-51 was  

Options                     

  1. Over 50 percent
  2. Over 40 percent
  3. Under 50 percent
  4. 50 percent

 

 

Question No.  28        

Labour participation in agriculture sector declined from 73 percent in 1950-51 to  

 Options                     

  1. Under 30 percent
  2. Under 20 percent
  3. Under 50 percent
  4. None of the above.

 

 

Question No.  29        

First trade union was formed in India in        

Options                   

  1. 1870
  2. 1921
  3. 1918
  4. None of the above

 

 

Question No.  30        

In 1934 India experienced     

 Options                    

  1. Trade deficit
  2. Trade surplus
  3. Trade balance (exports=imports)
  4. None of the above

 

 

Question No.  31         Marks - 10

Measurement of ………….uses national income accounting

 Options          

  1. economic growth
  2. economic development
  3. both
  4. none

 

 

Question No.  32         Marks - 10

………………... is no guarantee of escaping poverty           

 Options          

  1. employment
  2. income
  3. expense
  4. all

 

 

Question No.  33         Marks - 10

Increases in employment without………... in productivity leads to a rise in the number of working poor,

 Options          

  1. increases
  2. decrease
  3. fall
  4. all

 

 

Question No.  34         Marks - 10

 The ……………..cycle is made up of booms and drops in production that occur over a period of months or years.  

 Options          

  1. business
  2. operating
  3. cash
  4. bicycle

 

 

Question No.  35         Marks - 10

……….is the study of the economic aspects of the development process in low-income countries

 Options          

  1. economic growth
  2. economic development
  3. both
  4. none

 

 

Question No.  36         Marks - 10

 Measuring national income at ………. may overcome this problem at the risk of overvaluing basic goods and services, for example subsistence farming.    

 Options          

  1. GDP
  2. ERP
  3. IRP
  4. PPP

 

 

Question No.  37         Marks - 10

Comparison of GDP from one country to another may be distorted by movements in …………………   

 Options          

  1. prices
  2. costs
  3. exchange rates
  4. all

 

 

Question No.  38         Marks - 10

GDP takes ……..account of the inputs used to produce the output.             

Options          

  1. a single
  2. no
  3. one
  4. two

 

 

Question No.  39         Marks - 10

Measures of GDP typically ………... unpaid economic activity, most importantly domestic work

Options          

  1. forget
  2. exclude
  3. include
  4. reject

 

 

Question No.  40         Marks - 10

Countries with higher GDP may be more likely to also score ………. on other measures of welfare, such as life expectancy      

Options          

  1. high
  2. low
  3. one
  4. zero

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