Change set

Pick exam & year, then Go.

Question map
Not attempted Correct Incorrect ★ Bookmarked
Loading…
Q67 (UPPCS/2021) Economy › Growth, Development, Poverty & Employment

Which among the following is NOT a major factors of economic growth ?

Result
Your answer: —  Â·  Correct: D

Explanation

Economic growth is driven by both economic and non-economic factors. Major economic factors include the accumulation of capital, technological progress (reforms in technology), availability of natural resources, and human resources (including changes in population and the division of labour). Division of labour, as highlighted by Adam Smith, increases productivity through specialization.

Technocrats and Bureaucrats are administrative and political actors. While they play a role in governance and policy implementation, they are generally classified as non-economic factors or institutional components rather than primary drivers or "factors of production" in classical and neoclassical growth models. Therefore, they are not considered a "major factor" of economic growth in the same category as capital, labor, and technology.

How others answered
Each bar shows the % of students who chose that option. Green bar = correct answer, blue outline = your choice.
Community Performance
Out of everyone who attempted this question.
100%
got it right
✓ Thank you! We'll review this.

SIMILAR QUESTIONS

IAS · 2013 · Q67 Relevance score: -2.30

Economic growth in country X will necessarily have to occur if

IAS · 2018 · Q50 Relevance score: -3.45

Despite being a high saving economy, capital formation may not result in significant increase in output due to

IAS · 2011 · Q86 Relevance score: -4.05

Economic growth is usually coupled with

CDS-II · 2012 · Q66 Relevance score: -4.13

Dalhousie has been regarded as the maker of modern India because he brought about reforms and made a beginning in many fields. Which one among the following was not one of his schemes of reforms?