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Indian EconomyEasyAsked in: CDS · CDS-II 2019, GK

Who among the following has given the concept of Human Development ?

  1. A.Amartya Sen
  2. B.Mahbub-ul-Haq
  3. C.Sukhamoy Chakravarty
  4. D.G.S. Chaddha

Correct answer

B. Mahbub-ul-Haq

Explanation

The correct answer is B, Mahbub-ul-Haq. The Pakistani economist Mahbub-ul-Haq gave the concept of human development and launched the first Human Development Report for the UNDP in 1990.

Haq argued that development should be judged by how far it widens people's choices to lead long, healthy and meaningful lives, not by income growth alone. To measure this he designed the Human Development Index, which combines three dimensions: a long and healthy life (life expectancy at birth), knowledge (years of schooling) and a decent standard of living (gross national income per head). The UNDP has published the Human Development Report every year or two since 1990. Amartya Sen worked closely with Haq and gave the idea its 'capabilities' foundation, but the concept and the index are credited to Haq.

A is wrong because Amartya Sen supplied the capability approach behind it, not the concept itself. C is wrong because Sukhamoy Chakravarty was an Indian planning economist known for work on the Plans. D is wrong because G.S. Chaddha has no link with the concept.

Exam tip: Human development and HDI: Mahbub-ul-Haq, UNDP, 1990; capability approach: Amartya Sen.

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Q2.Indian EconomyAsked in: CDS · CDS-I 2019, GKMedium

Which one of the following is not an assumption in the law of demand?

  1. A.There are no changes in the taste and preferences of consumers.
  2. B.Income of consumers remains constant.
  3. C.Consumers are affected by demonstration effect.
  4. D.There are no changes in the price of substitute goods.
Show answer
Correct answer: C. Consumers are affected by demonstration effect.

The law of demand assumes buyers are not swayed by imitating others; the demonstration effect is in fact one of its exceptions.

Q4.Indian EconomyAsked in: CDS · CDS-II 2024, GKEasy

Financial Action Task Force is :

  1. A.A wing under the Central Economic Intelligence Bureau
  2. B.A division of Enforcement Directorate
  3. C.A global money laundering and terrorist financing watchdog
  4. D.A UN Anti-Corruption Agency
Show answer
Correct answer: C. A global money laundering and terrorist financing watchdog

The FATF sets the international standards that countries follow to fight dirty money and terror funding. The FATF is an inter-governmental body set up in 1989 at the G7 summit in Paris, and its secretariat is housed at the OECD in Paris.

Q5.Indian EconomyAsked in: UPSC Civil Services · CSE Prelims 2016, GS Paper IEasy

'SWAYAM', an initiative of the Government of India, aims at

  1. A.promoting the Self Help Groups in rural areas
  2. B.providing financial and technical assistance to young start-up entrepreneurs
  3. C.promoting the education and health of adolescent girls
  4. D.providing affordable and quality education to the citizens for free
Show answer
Correct answer: D. providing affordable and quality education to the citizens for free

SWAYAM is India's national platform of free online courses. SWAYAM stands for Study Webs of Active-Learning for Young Aspiring Minds.