Question 53: Economic growth refers to
A) continuous growth of national income for atleast two years
B) continuous growth of per capita real income over a period of time in an economy
C) continuous growth of agriculture sector
D) prevention of concentration of wealth
Answer: continuous growth of per capita real income over a period of time in an economy
Question 54. Which of the following statement is incorrect?
A) Economy faces the problem of utilisation of resources.
B)Economy faces the problem of growth of resources.
C) Economy faces the problem of excess of resources.
D) The central problem of an economy is the problem of allocation of resources.
Answer : Economy faces the problem of excess of resources.
tags: definition of Economic growth, meaning of Economic growth
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