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Direction: Read the report given below and answer the questions that follow:
China and India are the two emerging economies of the world. As of 2019, China and India are 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place. Both countries together share 19.46% and 27.18% of total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute more than half of Asia’s GDP.
In 1987, GDP (Nominal) of both countries was almost equal. But in 2019, China’s GDP is 4.78 times greater than India. On PPP basis, GDP of China is 2.38x of India. China crossed $1 trillion mark in 1998 while India crossed 9 year later in 2007 at exchange rate basis.
Both countries have been neck-to-neck in GDP per capita terms. As per both methods, India was richer than China in 1990. Now in 2019, China is almost 4.61 times richer than India in nominal method and 2.30 times richer in PPP method. Per capita rank of China and India is 72th and 145th, resp, in nominal. Per capita rank of China and India is 75th and 126th, resp, in PPP.
China attains maximum GDP growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. India reached an all time high of 9.63% in 1988 and a record low of -5.24% in 1979. During period 1961 to 2018, China grew by more than 10% in 22 years while India never. GDP growth rate was negative in five and four years for China and India, respectively.
According to CIA Factbook sector wise GDP composition of India in 2017 are as follows : Agriculture (15.4%), Industry (23%) and Services (61.5%). Sector wise GDP composition of China in 2017 are : Agriculture (8.3%), Industry (39.5%) and Services (52.2%).
- Comparing China and India by Economy – The Statistic Times – 28th August, 2019
China is ______________ economy.
  • a)
    Agricultural
  • b)
    Industrial
  • c)
    Both (A) and (B)
  • d)
    Neither (A) nor (B)
Correct answer is option 'B'. Can you explain this answer?
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Direction: Read the report given below and answer the questions that ...
Industry was 39.5% of China's gross domestic product (GDP).
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Direction: Read the report given below and answer the questions that ...
Overview of China's Economic Structure
China's economy is primarily categorized as industrial, which is evident from the sector-wise composition of its GDP.
Sector-wise GDP Composition
- In 2017, the distribution of GDP sectors for China was as follows:
- Agriculture: 8.3%
- Industry: 39.5%
- Services: 52.2%
This data indicates that a significant portion of China's GDP comes from industrial and service sectors, with industry being a substantial contributor at 39.5%.
Comparison with India
- While India also has a notable industrial sector, its economy is more balanced across agriculture, industry, and services:
- Agriculture: 15.4%
- Industry: 23%
- Services: 61.5%
Here, the industrial sector in India is less dominant compared to China, where industry constitutes a larger share of the GDP.
Reasons for the Industrial Classification
- China's focus on manufacturing and industrial output has helped it become the world's largest manufacturing economy.
- The substantial investment in infrastructure, technology, and manufacturing capabilities has propelled China into an industrial powerhouse.
Conclusion
Given the significant percentage of GDP contributed by the industrial sector in China, it is accurately classified as an industrial economy. The low agricultural contribution further reinforces this classification, distinguishing it from economies that are more agriculturally focused. Therefore, the correct answer is option 'B', indicating that China is primarily an industrial economy.
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Direction: Read the report given below and answer the questions that follow: China and India are the two emerging economies of the world. As of 2019, China and India are 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place. Both countries together share 19.46% and 27.18% of total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute more than half of Asia’s GDP. In 1987, GDP (Nominal) of both countries was almost equal. But in 2019, China’s GDP is 4.78 times greater than India. On PPP basis, GDP of China is 2.38x of India. China crossed $1 trillion mark in 1998 while India crossed 9 year later in 2007 at exchange rate basis. Both countries have been neck-to-neck in GDP per capita terms. As per both methods, India was richer than China in 1990. Now in 2019, China is almost 4.61 times richer than India in nominal method and 2.30 times richer in PPP method. Per capita rank of China and India is 72th and 145th, resp, in nominal. Per capita rank of China and India is 75th and 126th, resp, in PPP. China attains maximum GDP growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. India reached an all time high of 9.63% in 1988 and a record low of -5.24% in 1979. During period 1961 to 2018, China grew by more than 10% in 22 years while India never. GDP growth rate was negative in five and four years for China and India, respectively. According to CIA Factbook sector wise GDP composition of India in 2017 are as follows : Agriculture (15.4%), Industry (23%) and Services (61.5%). Sector wise GDP composition of China in 2017 are : Agriculture (8.3%), Industry (39.5%) and Services (52.2%). - Comparing China and India by Economy – The Statistic Times – 28th August, 2019 India is dependent on ____________ sector for its GDP contribution.

Direction: Read the report given below and answer the questions that follow:China and India are the two emerging economies of the world. As of 2019, China and India are 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place. Both countries together share 19.46% and 27.18% of total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute more than half of Asia’s GDP.In 1987, GDP (Nominal) of both countries was almost equal. But in 2019, China’s GDP is 4.78 times greater than India. On PPP basis, GDP of China is 2.38x of India. China crossed $1 trillion mark in 1998 while India crossed 9 year later in 2007 at exchange rate basis.Both countries have been neck-to-neck in GDP per capita terms. As per both methods, India was richer than China in 1990. Now in 2019, China is almost 4.61 times richer than India in nominal method and 2.30 times richer in PPP method. Per capita rank of China and India is 72th and 145th, resp, in nominal. Per capita rank of China and India is 75th and 126th, resp, in PPP.China attains maximum GDP growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. India reached an all time high of 9.63% in 1988 and a record low of -5.24% in 1979. During period 1961 to 2018, China grew by more than 10% in 22 years while India never. GDP growth rate was negative in five and four years for China and India, respectively.According to CIA Factbook sector wise GDP composition of India in 2017 are as follows : Agriculture (15.4%), Industry (23%) and Services (61.5%). Sector wise GDP composition of China in 2017 are : Agriculture (8.3%), Industry (39.5%) and Services (52.2%).- Comparing China and India by Economy – The Statistic Times – 28th August, 2019More than ________ of Asia’s GDP is shared by India.

Read the following hypothetical text and answer the question that follow:The performance of the Indian economy during the period of first seven five-year plans (1950-1990) was satisfactory if not very impressive. On the eve of independence, India was an industrially backward country, but during this period of first seven plans our industries became far more diversified, with the stress being laid on the public investments in the industrial sector. The policy of import substitution led to protection of the domestic industries against the foreign producersbut we failed to promote a strong export surplus. Although public sector expanded to a large extent but it could not bring desired level of improvement in the secondary sector. Excessive government regulations prevented the natural trajectory of growth of entrepreneurship as there was no competition, no innovation and no modernization on the front of the industrial sector. Many Public Sector Undertakings (PSUs) incurred huge losses due to operational inefficiencies, red-tapism, poor technology and other similar reasons. These PSUs continued to function because it was difficult to close a government undertaking even it is a drain on country’s limited resources. On the Agricultural front, due to the measures taken under the Green Revolution, India more or less became self-sufficient in the production of food grains. So, the needs for reform of economic policy was widely felt in the context of changing global economic scenario to achieve desired growth in the country.Q. Inward looking trade strategy aimed at _________ .

Read the following hypothetical text and answer the question that follow:The performance of the Indian economy during the period of first seven five-year plans (1950-1990) was satisfactory if not very impressive. On the eve of independence, India was an industrially backward country, but during this period of first seven plans our industries became far more diversified, with the stress being laid on the public investments in the industrial sector. The policy of import substitution led to protection of the domestic industries against the foreign producersbut we failed to promote a strong export surplus. Although public sector expanded to a large extent but it could not bring desired level of improvement in the secondary sector. Excessive government regulations prevented the natural trajectory of growth of entrepreneurship as there was no competition, no innovation and no modernization on the front of the industrial sector. Many Public Sector Undertakings (PSUs) incurred huge losses due to operational inefficiencies, red-tapism, poor technology and other similar reasons. These PSUs continued to function because it was difficult to close a government undertaking even it is a drain on country’s limited resources. On the Agricultural front, due to the measures taken under the Green Revolution, India more or less became self-sufficient in the production of food grains. So, the needs for reform of economic policy was widely felt in the context of changing global economic scenario to achieve desired growth in the country.Q. Mechanization of Indian agriculture was one of the causes of ___________ in India.

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Direction: Read the report given below and answer the questions that follow:China and India are the two emerging economies of the world. As of 2019, China and India are 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place. Both countries together share 19.46% and 27.18% of total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute more than half of Asia’s GDP.In 1987, GDP (Nominal) of both countries was almost equal. But in 2019, China’s GDP is 4.78 times greater than India. On PPP basis, GDP of China is 2.38x of India. China crossed $1 trillion mark in 1998 while India crossed 9 year later in 2007 at exchange rate basis.Both countries have been neck-to-neck in GDP per capita terms. As per both methods, India was richer than China in 1990. Now in 2019, China is almost 4.61 times richer than India in nominal method and 2.30 times richer in PPP method. Per capita rank of China and India is 72th and 145th, resp, in nominal. Per capita rank of China and India is 75th and 126th, resp, in PPP.China attains maximum GDP growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. India reached an all time high of 9.63% in 1988 and a record low of -5.24% in 1979. During period 1961 to 2018, China grew by more than 10% in 22 years while India never. GDP growth rate was negative in five and four years for China and India, respectively.According to CIA Factbook sector wise GDP composition of India in 2017 are as follows : Agriculture (15.4%), Industry (23%) and Services (61.5%). Sector wise GDP composition of China in 2017 are : Agriculture (8.3%), Industry (39.5%) and Services (52.2%).- Comparing China and India by Economy – The Statistic Times – 28th August, 2019China is ______________ economy.a)Agriculturalb)Industrialc)Both (A) and (B)d)Neither (A) nor (B)Correct answer is option 'B'. Can you explain this answer?
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Direction: Read the report given below and answer the questions that follow:China and India are the two emerging economies of the world. As of 2019, China and India are 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place. Both countries together share 19.46% and 27.18% of total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute more than half of Asia’s GDP.In 1987, GDP (Nominal) of both countries was almost equal. But in 2019, China’s GDP is 4.78 times greater than India. On PPP basis, GDP of China is 2.38x of India. China crossed $1 trillion mark in 1998 while India crossed 9 year later in 2007 at exchange rate basis.Both countries have been neck-to-neck in GDP per capita terms. As per both methods, India was richer than China in 1990. Now in 2019, China is almost 4.61 times richer than India in nominal method and 2.30 times richer in PPP method. Per capita rank of China and India is 72th and 145th, resp, in nominal. Per capita rank of China and India is 75th and 126th, resp, in PPP.China attains maximum GDP growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. India reached an all time high of 9.63% in 1988 and a record low of -5.24% in 1979. During period 1961 to 2018, China grew by more than 10% in 22 years while India never. GDP growth rate was negative in five and four years for China and India, respectively.According to CIA Factbook sector wise GDP composition of India in 2017 are as follows : Agriculture (15.4%), Industry (23%) and Services (61.5%). Sector wise GDP composition of China in 2017 are : Agriculture (8.3%), Industry (39.5%) and Services (52.2%).- Comparing China and India by Economy – The Statistic Times – 28th August, 2019China is ______________ economy.a)Agriculturalb)Industrialc)Both (A) and (B)d)Neither (A) nor (B)Correct answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: Read the report given below and answer the questions that follow:China and India are the two emerging economies of the world. As of 2019, China and India are 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place. Both countries together share 19.46% and 27.18% of total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute more than half of Asia’s GDP.In 1987, GDP (Nominal) of both countries was almost equal. But in 2019, China’s GDP is 4.78 times greater than India. On PPP basis, GDP of China is 2.38x of India. China crossed $1 trillion mark in 1998 while India crossed 9 year later in 2007 at exchange rate basis.Both countries have been neck-to-neck in GDP per capita terms. As per both methods, India was richer than China in 1990. Now in 2019, China is almost 4.61 times richer than India in nominal method and 2.30 times richer in PPP method. Per capita rank of China and India is 72th and 145th, resp, in nominal. Per capita rank of China and India is 75th and 126th, resp, in PPP.China attains maximum GDP growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. India reached an all time high of 9.63% in 1988 and a record low of -5.24% in 1979. During period 1961 to 2018, China grew by more than 10% in 22 years while India never. GDP growth rate was negative in five and four years for China and India, respectively.According to CIA Factbook sector wise GDP composition of India in 2017 are as follows : Agriculture (15.4%), Industry (23%) and Services (61.5%). Sector wise GDP composition of China in 2017 are : Agriculture (8.3%), Industry (39.5%) and Services (52.2%).- Comparing China and India by Economy – The Statistic Times – 28th August, 2019China is ______________ economy.a)Agriculturalb)Industrialc)Both (A) and (B)d)Neither (A) nor (B)Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the report given below and answer the questions that follow:China and India are the two emerging economies of the world. As of 2019, China and India are 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place. Both countries together share 19.46% and 27.18% of total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute more than half of Asia’s GDP.In 1987, GDP (Nominal) of both countries was almost equal. But in 2019, China’s GDP is 4.78 times greater than India. On PPP basis, GDP of China is 2.38x of India. China crossed $1 trillion mark in 1998 while India crossed 9 year later in 2007 at exchange rate basis.Both countries have been neck-to-neck in GDP per capita terms. As per both methods, India was richer than China in 1990. Now in 2019, China is almost 4.61 times richer than India in nominal method and 2.30 times richer in PPP method. Per capita rank of China and India is 72th and 145th, resp, in nominal. Per capita rank of China and India is 75th and 126th, resp, in PPP.China attains maximum GDP growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. India reached an all time high of 9.63% in 1988 and a record low of -5.24% in 1979. During period 1961 to 2018, China grew by more than 10% in 22 years while India never. GDP growth rate was negative in five and four years for China and India, respectively.According to CIA Factbook sector wise GDP composition of India in 2017 are as follows : Agriculture (15.4%), Industry (23%) and Services (61.5%). Sector wise GDP composition of China in 2017 are : Agriculture (8.3%), Industry (39.5%) and Services (52.2%).- Comparing China and India by Economy – The Statistic Times – 28th August, 2019China is ______________ economy.a)Agriculturalb)Industrialc)Both (A) and (B)d)Neither (A) nor (B)Correct answer is option 'B'. Can you explain this answer?.
Solutions for Direction: Read the report given below and answer the questions that follow:China and India are the two emerging economies of the world. As of 2019, China and India are 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place. Both countries together share 19.46% and 27.18% of total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute more than half of Asia’s GDP.In 1987, GDP (Nominal) of both countries was almost equal. But in 2019, China’s GDP is 4.78 times greater than India. On PPP basis, GDP of China is 2.38x of India. China crossed $1 trillion mark in 1998 while India crossed 9 year later in 2007 at exchange rate basis.Both countries have been neck-to-neck in GDP per capita terms. As per both methods, India was richer than China in 1990. Now in 2019, China is almost 4.61 times richer than India in nominal method and 2.30 times richer in PPP method. Per capita rank of China and India is 72th and 145th, resp, in nominal. Per capita rank of China and India is 75th and 126th, resp, in PPP.China attains maximum GDP growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. India reached an all time high of 9.63% in 1988 and a record low of -5.24% in 1979. During period 1961 to 2018, China grew by more than 10% in 22 years while India never. GDP growth rate was negative in five and four years for China and India, respectively.According to CIA Factbook sector wise GDP composition of India in 2017 are as follows : Agriculture (15.4%), Industry (23%) and Services (61.5%). Sector wise GDP composition of China in 2017 are : Agriculture (8.3%), Industry (39.5%) and Services (52.2%).- Comparing China and India by Economy – The Statistic Times – 28th August, 2019China is ______________ economy.a)Agriculturalb)Industrialc)Both (A) and (B)d)Neither (A) nor (B)Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce. Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of Direction: Read the report given below and answer the questions that follow:China and India are the two emerging economies of the world. As of 2019, China and India are 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place. Both countries together share 19.46% and 27.18% of total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute more than half of Asia’s GDP.In 1987, GDP (Nominal) of both countries was almost equal. But in 2019, China’s GDP is 4.78 times greater than India. On PPP basis, GDP of China is 2.38x of India. China crossed $1 trillion mark in 1998 while India crossed 9 year later in 2007 at exchange rate basis.Both countries have been neck-to-neck in GDP per capita terms. As per both methods, India was richer than China in 1990. Now in 2019, China is almost 4.61 times richer than India in nominal method and 2.30 times richer in PPP method. Per capita rank of China and India is 72th and 145th, resp, in nominal. Per capita rank of China and India is 75th and 126th, resp, in PPP.China attains maximum GDP growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. India reached an all time high of 9.63% in 1988 and a record low of -5.24% in 1979. During period 1961 to 2018, China grew by more than 10% in 22 years while India never. GDP growth rate was negative in five and four years for China and India, respectively.According to CIA Factbook sector wise GDP composition of India in 2017 are as follows : Agriculture (15.4%), Industry (23%) and Services (61.5%). Sector wise GDP composition of China in 2017 are : Agriculture (8.3%), Industry (39.5%) and Services (52.2%).- Comparing China and India by Economy – The Statistic Times – 28th August, 2019China is ______________ economy.a)Agriculturalb)Industrialc)Both (A) and (B)d)Neither (A) nor (B)Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Direction: Read the report given below and answer the questions that follow:China and India are the two emerging economies of the world. As of 2019, China and India are 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place. Both countries together share 19.46% and 27.18% of total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute more than half of Asia’s GDP.In 1987, GDP (Nominal) of both countries was almost equal. But in 2019, China’s GDP is 4.78 times greater than India. On PPP basis, GDP of China is 2.38x of India. China crossed $1 trillion mark in 1998 while India crossed 9 year later in 2007 at exchange rate basis.Both countries have been neck-to-neck in GDP per capita terms. As per both methods, India was richer than China in 1990. Now in 2019, China is almost 4.61 times richer than India in nominal method and 2.30 times richer in PPP method. Per capita rank of China and India is 72th and 145th, resp, in nominal. Per capita rank of China and India is 75th and 126th, resp, in PPP.China attains maximum GDP growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. India reached an all time high of 9.63% in 1988 and a record low of -5.24% in 1979. During period 1961 to 2018, China grew by more than 10% in 22 years while India never. GDP growth rate was negative in five and four years for China and India, respectively.According to CIA Factbook sector wise GDP composition of India in 2017 are as follows : Agriculture (15.4%), Industry (23%) and Services (61.5%). Sector wise GDP composition of China in 2017 are : Agriculture (8.3%), Industry (39.5%) and Services (52.2%).- Comparing China and India by Economy – The Statistic Times – 28th August, 2019China is ______________ economy.a)Agriculturalb)Industrialc)Both (A) and (B)d)Neither (A) nor (B)Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Direction: Read the report given below and answer the questions that follow:China and India are the two emerging economies of the world. As of 2019, China and India are 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place. Both countries together share 19.46% and 27.18% of total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute more than half of Asia’s GDP.In 1987, GDP (Nominal) of both countries was almost equal. But in 2019, China’s GDP is 4.78 times greater than India. On PPP basis, GDP of China is 2.38x of India. China crossed $1 trillion mark in 1998 while India crossed 9 year later in 2007 at exchange rate basis.Both countries have been neck-to-neck in GDP per capita terms. As per both methods, India was richer than China in 1990. Now in 2019, China is almost 4.61 times richer than India in nominal method and 2.30 times richer in PPP method. Per capita rank of China and India is 72th and 145th, resp, in nominal. Per capita rank of China and India is 75th and 126th, resp, in PPP.China attains maximum GDP growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. India reached an all time high of 9.63% in 1988 and a record low of -5.24% in 1979. During period 1961 to 2018, China grew by more than 10% in 22 years while India never. GDP growth rate was negative in five and four years for China and India, respectively.According to CIA Factbook sector wise GDP composition of India in 2017 are as follows : Agriculture (15.4%), Industry (23%) and Services (61.5%). Sector wise GDP composition of China in 2017 are : Agriculture (8.3%), Industry (39.5%) and Services (52.2%).- Comparing China and India by Economy – The Statistic Times – 28th August, 2019China is ______________ economy.a)Agriculturalb)Industrialc)Both (A) and (B)d)Neither (A) nor (B)Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Direction: Read the report given below and answer the questions that follow:China and India are the two emerging economies of the world. As of 2019, China and India are 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place. Both countries together share 19.46% and 27.18% of total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute more than half of Asia’s GDP.In 1987, GDP (Nominal) of both countries was almost equal. But in 2019, China’s GDP is 4.78 times greater than India. On PPP basis, GDP of China is 2.38x of India. China crossed $1 trillion mark in 1998 while India crossed 9 year later in 2007 at exchange rate basis.Both countries have been neck-to-neck in GDP per capita terms. As per both methods, India was richer than China in 1990. Now in 2019, China is almost 4.61 times richer than India in nominal method and 2.30 times richer in PPP method. Per capita rank of China and India is 72th and 145th, resp, in nominal. Per capita rank of China and India is 75th and 126th, resp, in PPP.China attains maximum GDP growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. India reached an all time high of 9.63% in 1988 and a record low of -5.24% in 1979. During period 1961 to 2018, China grew by more than 10% in 22 years while India never. GDP growth rate was negative in five and four years for China and India, respectively.According to CIA Factbook sector wise GDP composition of India in 2017 are as follows : Agriculture (15.4%), Industry (23%) and Services (61.5%). Sector wise GDP composition of China in 2017 are : Agriculture (8.3%), Industry (39.5%) and Services (52.2%).- Comparing China and India by Economy – The Statistic Times – 28th August, 2019China is ______________ economy.a)Agriculturalb)Industrialc)Both (A) and (B)d)Neither (A) nor (B)Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Direction: Read the report given below and answer the questions that follow:China and India are the two emerging economies of the world. As of 2019, China and India are 2nd and 5th largest country of the world, respectively in nominal basis. On PPP basis, China is at 1st and India is at 3rd place. Both countries together share 19.46% and 27.18% of total global wealth in nominal and PPP terms, respectively. Among Asian countries, China and India together contribute more than half of Asia’s GDP.In 1987, GDP (Nominal) of both countries was almost equal. But in 2019, China’s GDP is 4.78 times greater than India. On PPP basis, GDP of China is 2.38x of India. China crossed $1 trillion mark in 1998 while India crossed 9 year later in 2007 at exchange rate basis.Both countries have been neck-to-neck in GDP per capita terms. As per both methods, India was richer than China in 1990. Now in 2019, China is almost 4.61 times richer than India in nominal method and 2.30 times richer in PPP method. Per capita rank of China and India is 72th and 145th, resp, in nominal. Per capita rank of China and India is 75th and 126th, resp, in PPP.China attains maximum GDP growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. India reached an all time high of 9.63% in 1988 and a record low of -5.24% in 1979. During period 1961 to 2018, China grew by more than 10% in 22 years while India never. GDP growth rate was negative in five and four years for China and India, respectively.According to CIA Factbook sector wise GDP composition of India in 2017 are as follows : Agriculture (15.4%), Industry (23%) and Services (61.5%). Sector wise GDP composition of China in 2017 are : Agriculture (8.3%), Industry (39.5%) and Services (52.2%).- Comparing China and India by Economy – The Statistic Times – 28th August, 2019China is ______________ economy.a)Agriculturalb)Industrialc)Both (A) and (B)d)Neither (A) nor (B)Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice Commerce tests.
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