Question
It will be true to classify India as
Answer: Option A
Answer: (a)
India is a labour-surplus economy because in India there is disguised unemployment along with under-employment which means that a qualified, skilled workforce willing to work is available but there are not enough employment opportunities.
Trade Surplus Economy - Economic measure of positive Balance of trade where a country’s export exceed its imports. Surplus Labour is a concept used by Karl Marx in his critique of political economy.
Capital Surplus - It is equity that cannot otherwise be classified as capital stock or retained earnings.
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Answer: (a)
India is a labour-surplus economy because in India there is disguised unemployment along with under-employment which means that a qualified, skilled workforce willing to work is available but there are not enough employment opportunities.
Trade Surplus Economy - Economic measure of positive Balance of trade where a country’s export exceed its imports. Surplus Labour is a concept used by Karl Marx in his critique of political economy.
Capital Surplus - It is equity that cannot otherwise be classified as capital stock or retained earnings.
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