The 'demographic transition' refers to changes in: MCQ with Answer and Explanation

Explanation:
The rapid growth of India's services sector has been driven by the information technology boom, economic liberalisation, and expanding domestic and global demand for services.

Explanation:
Moral hazard occurs when one party takes more risks because another party bears the cost, typically after a contract (e.g., insurance) is in place. Adverse selection occurs before the contract.

Explanation:
Take-off is marked by a sharp rise in investment and industrial growth.