Question

What is indian economy and what is the main problems of current indian economy?

Answer 1

Explanation:

An economy is a system whereby goods are produced and exchanged. Without a viable economy, a state will collapse. There are three main types of economies: free market, command, and mixed. The chart below compares free-market and command economies; mixed economies are a combination of the two.

Answer 2

The primary economic issues in India are:

• Low per capita income.
• Huge dependence of population on agriculture.
• Heavy population pressure.
• The existence of chronic unemployment and under-employment.
• Slow improvement in Rate of Capital Formation.
• Inequality in wealth distribution.
• Poor Quality of Human Capital.

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