You asked: What are basic characteristics of Indian economy?

India, as a developing country, features a mixed economy in the world. The major characteristics of developing economy are low per capita income, overpopulation, maximum population below the poverty line, poor infrastructure, agro-based economy and a lower rate of capital formation.

What are the characteristics of Indian Economy answer?

Indian economy is termed as the developing economy of the world. Some features like low per capita income, higher population below poverty line, poor infrastructure, agriculture based economy and lower rate of capital formation, tagged it as a developing economy in the world.

How many are the characteristic of Indian economy?

The following points highlight the top thirteen characteristics of the Indian economy. Some of the characteristics are: 1. Low per capita income 2. Excessive dependence of agriculture and primary producing 3.

What are the characteristics of economy?

Characteristics of a Market Economy (free enterprise)

  • Private Property.
  • Economic Freedom.
  • Consumer Sovereignty.
  • Competition.
  • Profit.
  • Voluntary Exchange.
  • Limited Government Involvement.

What are the characteristics of Indian economy Brainly?

Answer

  • low per capita income.
  • Excessive dependency on agriculture.
  • high rate h population growth.
  • poor rate of capital formation.
  • chronic unemployment and under- employment.
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What are the two positive features of Indian Economy?

1. Low per Capita Income: India’s per capita income is very less as compare to developed countries. 2. Agriculture Based Economy: Agriculture and allied sectors provide around 14.2% of Indian GDP while 53% of total Indian population is based on the agriculture sector.

What is the type of Indian economy?

Today, India is considered a mixed economy: the private and public-sectors co-exist and the country leverages international trade.

What are the characteristics of India?

Q1. What are the basic characteristics of India as a developing economy?

  • Low per capita income.
  • Occupational pattern – primary producing.
  • Heavy population pressure.
  • Prevalence of chronic unemployment and under-employment.
  • Need for a steady improvement in the rate of capital formation.

Which is not a feature of Indian economy?

Imperative planning is not the feature of India’s economic planning.

What are 3 characteristics of a good economy?

Top Quote: Characteristics of the Most Successful Economies

  • excellent education systems,
  • high levels of investment in research and development,
  • strong links between industry and educational institutions (!),
  • determination to increase exports,
  • and an ability to translate research into products and services that sell.

What are the five characteristics of a traditional economy?

Characteristics of a Traditional Economy

  • Traditional economies are often based on one or a few of agriculture, hunting, fishing, and gathering.
  • Barter and trade is often used in place of money.
  • There is rarely a surplus produced. …
  • Often, people in a traditional economy live in families or tribes.

What are the main characteristics of a successful economy?

A high rate of economic growth. This means an expansion in economic output; it will lead to higher average incomes, higher output and higher expenditure. Low and stable inflation (though if growth is very high, we might start to see rising inflation) Low unemployment.

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