The 'take-off' stage in Rostow's model is characterized by: MCQ with Answer and Explanation

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The 'take-off' stage in Rostow's model is characterized by:

A. decline in investment

B. rapid increase in investment and industrialization

C. agricultural stagnation

D. decrease in savings

Answer: Option B

Solution (By JKSSB Mock Tests)

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

This question belongs to: Economy GK Economy Set 1

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Question #1

The 'Goods and Services Tax' rate on bicycles is:

A. 0%

B. 18%

C. 12%

D. 5%

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Correct Answer: Option D

Explanation:
Bicycles attract 5% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Green Revolution' in India began in the mid:

A. 1940s

B. 1980s

C. 1960s

D. 1990s

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Correct Answer: Option C

Explanation:
The Green Revolution began in India in the mid-1960s.

This question belongs to: Economy GK Economy Set 1

Question #3

Which of the following is a feature of a capitalist economy?

A. Central planning of all economic activities

B. Absence of market mechanism

C. Private ownership of means of production and profit motive

D. Collective ownership of resources

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Correct Answer: Option C

Explanation:
A capitalist (market) economy is characterised by private ownership of the means of production, profit motive, and resource allocation through the market mechanism.

This question belongs to: Economy GK Economy Set 1

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