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Structural transformation is that process in which
  • a)
    the contribution to national income by the manufacturing sector increasingly becomes higher than that by the agricultural sector
  • b)
    the contribution to national income by capital goods is more in comparision to labour
  • c)
    the contribution to national inccome by foreign investment is more in comparision to domestic investment
  • d)
    production is mainly meant for personal consumption and not for investment 
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
Structural transformation is that process in whicha)the contribution t...
Structural transformation refers to the reallocation of economic activity across the broad sectors agriculture, manufacturing and services
Structural transformation is the defining characteristic of the development process; it is both the cause and the effect of economic growth. Four quite relentless and interrelated processes define the structural transformation process: 
(1) a  declining share of agriculture in gross domestic product (GDP) and employment,
(2) the rapid process of urbanization as  people migrate from rural to urban areas,  
(3) the rise of a modern industrial and service economy, and  
(4) a demographic transition from high to low rates of births and deaths. The final outcome of structural transformation is an economy and society where agriculture as an economic activity has no distinguishing characteristics from other sectors, at least in terms of the productivity of labor and capital, or the location of poverty.  
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Structural transformation is that process in whicha)the contribution to national income by the manufacturing sector increasingly becomes higher than that by the agricultural sectorb)the contribution to national income by capital goods is more in comparision to labourc)the contribution to national inccome by foreign investment is more in comparision to domestic investmentd)production is mainly meant for personal consumption and not for investmentCorrect answer is option 'A'. Can you explain this answer?
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Structural transformation is that process in whicha)the contribution to national income by the manufacturing sector increasingly becomes higher than that by the agricultural sectorb)the contribution to national income by capital goods is more in comparision to labourc)the contribution to national inccome by foreign investment is more in comparision to domestic investmentd)production is mainly meant for personal consumption and not for investmentCorrect answer is option 'A'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Structural transformation is that process in whicha)the contribution to national income by the manufacturing sector increasingly becomes higher than that by the agricultural sectorb)the contribution to national income by capital goods is more in comparision to labourc)the contribution to national inccome by foreign investment is more in comparision to domestic investmentd)production is mainly meant for personal consumption and not for investmentCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Structural transformation is that process in whicha)the contribution to national income by the manufacturing sector increasingly becomes higher than that by the agricultural sectorb)the contribution to national income by capital goods is more in comparision to labourc)the contribution to national inccome by foreign investment is more in comparision to domestic investmentd)production is mainly meant for personal consumption and not for investmentCorrect answer is option 'A'. Can you explain this answer?.
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