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Anything founded on the basis of unity has scope for growth. When that unity moves towards integrality, the impetus for growth gets stronger. Mind operates by dividing reality into parts and regarding each as a whole in itself. It is an instrument of division. But its division is creative in that it expresses unity through division. In early civilizations, all life activities were centered on basic survival. Family, religion, production, festivals, trade, etc. were all closely interlinked. As society became more sophisticated, each sector acquired a life of its own and began to develop independently of the others. Thus, trade, commerce, banking and other sectors each developed a life of its own. Such a division eventually led to segregated specialization and fragmentation of knowledge, institutions and activities. These divisions appear real to the mind that accepts them, but social reality remains undivided and integrated.
Current theories regard economy as a separate and independent sphere of activity, ignoring its inextricable linkages with politics, law, ecology, culture and the underlying forces of social power. Economics generally ignores the impact of subjective psychological and cultural factors on economic and social outcomes or applies simplistic assumptions far removed from the real world.
This fragmentation has been stretched to the point of regarding finance as a field independent of the real economy.
Q. Which of the following does the author includes in his definition of "real economy"?
  • a)
    An economy that takes psychological and cultural aspects into account.
  • b)
    An economy that takes economic principles into account.
  • c)
    An economy that depends on events occurring in reality.
  • d)
    An economy that relies on specialists and experts.
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Anything founded on the basis of unity has scope for growth. When tha...
Option (a) is correct as second paragraph focuses on the independence of activities which should otherwise be occurring in coherence. In this context, the real economy consists of the elements of reality, namely its social and psychological aspects as mentioned in the passage.
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Anything founded on the basis of unity has scope for growth. When tha...
Real Economy Definition
Definition:
- The author includes the idea of an economy that takes psychological and cultural aspects into account in his definition of the "real economy."
Explanation:
- The real economy refers to the actual production and consumption of goods and services in an economy.
- It involves all economic activities that contribute to the creation of wealth and well-being in society.
- Psychological and cultural factors play a significant role in shaping economic behavior and outcomes.
- By considering these factors, the real economy is more closely aligned with the complexities and nuances of human behavior and societal norms.
- This holistic approach acknowledges the interconnectedness of various aspects of life and how they influence economic activities and outcomes.
Significance:
- Understanding the real economy in this broader context can lead to more informed and effective economic policies and strategies.
- It helps policymakers and economists make decisions that are more reflective of the realities of society and how people actually behave in economic transactions.
- By recognizing the impact of psychological and cultural factors, the real economy can be better understood and managed to promote sustainable growth and development.
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Anything founded on the basis of unity has scope for growth. When that unity moves towards integrality, the impetus for growth gets stronger. Mind operates by dividing reality into parts and regarding each as a whole in itself. It is an instrument of division. But its division is creative in that it expresses unity through division. In early civilizations, all life activities were centered on basic survival. Family, religion, production, festivals, trade, etc. were all closely interlinked. As society became more sophisticated, each sector acquired a life of its own and began to develop independently of the others. Thus, trade, commerce, banking and other sectors each developed a life of its own. Such a division eventually led to segregated specialization and fragmentation of knowledge, institutions and activities. These divisions appear real to the mind that accepts them, but social reality remains undivided and integrated.Current theories regard economy as a separate and independent sphere of activity, ignoring its inextricable linkages with politics, law, ecology, culture and the underlying forces of social power. Economics generally ignores the impact of subjective psychological and cultural factors on economic and social outcomes or applies simplistic assumptions far removed from the real world.This fragmentation has been stretched to the point of regarding finance as a field independent of the real economy.Q. Which of the following does the author includes in his definition of "real economy"?a)An economy that takes psychological and cultural aspects into account.b)An economy that takes economic principles into account.c)An economy that depends on events occurring in reality.d)An economy that relies on specialists and experts.Correct answer is option 'A'. Can you explain this answer?
Question Description
Anything founded on the basis of unity has scope for growth. When that unity moves towards integrality, the impetus for growth gets stronger. Mind operates by dividing reality into parts and regarding each as a whole in itself. It is an instrument of division. But its division is creative in that it expresses unity through division. In early civilizations, all life activities were centered on basic survival. Family, religion, production, festivals, trade, etc. were all closely interlinked. As society became more sophisticated, each sector acquired a life of its own and began to develop independently of the others. Thus, trade, commerce, banking and other sectors each developed a life of its own. Such a division eventually led to segregated specialization and fragmentation of knowledge, institutions and activities. These divisions appear real to the mind that accepts them, but social reality remains undivided and integrated.Current theories regard economy as a separate and independent sphere of activity, ignoring its inextricable linkages with politics, law, ecology, culture and the underlying forces of social power. Economics generally ignores the impact of subjective psychological and cultural factors on economic and social outcomes or applies simplistic assumptions far removed from the real world.This fragmentation has been stretched to the point of regarding finance as a field independent of the real economy.Q. Which of the following does the author includes in his definition of "real economy"?a)An economy that takes psychological and cultural aspects into account.b)An economy that takes economic principles into account.c)An economy that depends on events occurring in reality.d)An economy that relies on specialists and experts.Correct answer is option 'A'. Can you explain this answer? for CLAT 2024 is part of CLAT preparation. The Question and answers have been prepared according to the CLAT exam syllabus. Information about Anything founded on the basis of unity has scope for growth. When that unity moves towards integrality, the impetus for growth gets stronger. Mind operates by dividing reality into parts and regarding each as a whole in itself. It is an instrument of division. But its division is creative in that it expresses unity through division. In early civilizations, all life activities were centered on basic survival. Family, religion, production, festivals, trade, etc. were all closely interlinked. As society became more sophisticated, each sector acquired a life of its own and began to develop independently of the others. Thus, trade, commerce, banking and other sectors each developed a life of its own. Such a division eventually led to segregated specialization and fragmentation of knowledge, institutions and activities. These divisions appear real to the mind that accepts them, but social reality remains undivided and integrated.Current theories regard economy as a separate and independent sphere of activity, ignoring its inextricable linkages with politics, law, ecology, culture and the underlying forces of social power. Economics generally ignores the impact of subjective psychological and cultural factors on economic and social outcomes or applies simplistic assumptions far removed from the real world.This fragmentation has been stretched to the point of regarding finance as a field independent of the real economy.Q. Which of the following does the author includes in his definition of "real economy"?a)An economy that takes psychological and cultural aspects into account.b)An economy that takes economic principles into account.c)An economy that depends on events occurring in reality.d)An economy that relies on specialists and experts.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CLAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Anything founded on the basis of unity has scope for growth. When that unity moves towards integrality, the impetus for growth gets stronger. Mind operates by dividing reality into parts and regarding each as a whole in itself. It is an instrument of division. But its division is creative in that it expresses unity through division. In early civilizations, all life activities were centered on basic survival. Family, religion, production, festivals, trade, etc. were all closely interlinked. As society became more sophisticated, each sector acquired a life of its own and began to develop independently of the others. Thus, trade, commerce, banking and other sectors each developed a life of its own. Such a division eventually led to segregated specialization and fragmentation of knowledge, institutions and activities. These divisions appear real to the mind that accepts them, but social reality remains undivided and integrated.Current theories regard economy as a separate and independent sphere of activity, ignoring its inextricable linkages with politics, law, ecology, culture and the underlying forces of social power. Economics generally ignores the impact of subjective psychological and cultural factors on economic and social outcomes or applies simplistic assumptions far removed from the real world.This fragmentation has been stretched to the point of regarding finance as a field independent of the real economy.Q. Which of the following does the author includes in his definition of "real economy"?a)An economy that takes psychological and cultural aspects into account.b)An economy that takes economic principles into account.c)An economy that depends on events occurring in reality.d)An economy that relies on specialists and experts.Correct answer is option 'A'. Can you explain this answer?.
Solutions for Anything founded on the basis of unity has scope for growth. When that unity moves towards integrality, the impetus for growth gets stronger. Mind operates by dividing reality into parts and regarding each as a whole in itself. It is an instrument of division. But its division is creative in that it expresses unity through division. In early civilizations, all life activities were centered on basic survival. Family, religion, production, festivals, trade, etc. were all closely interlinked. As society became more sophisticated, each sector acquired a life of its own and began to develop independently of the others. Thus, trade, commerce, banking and other sectors each developed a life of its own. Such a division eventually led to segregated specialization and fragmentation of knowledge, institutions and activities. These divisions appear real to the mind that accepts them, but social reality remains undivided and integrated.Current theories regard economy as a separate and independent sphere of activity, ignoring its inextricable linkages with politics, law, ecology, culture and the underlying forces of social power. Economics generally ignores the impact of subjective psychological and cultural factors on economic and social outcomes or applies simplistic assumptions far removed from the real world.This fragmentation has been stretched to the point of regarding finance as a field independent of the real economy.Q. Which of the following does the author includes in his definition of "real economy"?a)An economy that takes psychological and cultural aspects into account.b)An economy that takes economic principles into account.c)An economy that depends on events occurring in reality.d)An economy that relies on specialists and experts.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CLAT. Download more important topics, notes, lectures and mock test series for CLAT Exam by signing up for free.
Here you can find the meaning of Anything founded on the basis of unity has scope for growth. When that unity moves towards integrality, the impetus for growth gets stronger. Mind operates by dividing reality into parts and regarding each as a whole in itself. It is an instrument of division. But its division is creative in that it expresses unity through division. In early civilizations, all life activities were centered on basic survival. Family, religion, production, festivals, trade, etc. were all closely interlinked. As society became more sophisticated, each sector acquired a life of its own and began to develop independently of the others. Thus, trade, commerce, banking and other sectors each developed a life of its own. Such a division eventually led to segregated specialization and fragmentation of knowledge, institutions and activities. These divisions appear real to the mind that accepts them, but social reality remains undivided and integrated.Current theories regard economy as a separate and independent sphere of activity, ignoring its inextricable linkages with politics, law, ecology, culture and the underlying forces of social power. Economics generally ignores the impact of subjective psychological and cultural factors on economic and social outcomes or applies simplistic assumptions far removed from the real world.This fragmentation has been stretched to the point of regarding finance as a field independent of the real economy.Q. Which of the following does the author includes in his definition of "real economy"?a)An economy that takes psychological and cultural aspects into account.b)An economy that takes economic principles into account.c)An economy that depends on events occurring in reality.d)An economy that relies on specialists and experts.Correct answer is option 'A'. 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These divisions appear real to the mind that accepts them, but social reality remains undivided and integrated.Current theories regard economy as a separate and independent sphere of activity, ignoring its inextricable linkages with politics, law, ecology, culture and the underlying forces of social power. Economics generally ignores the impact of subjective psychological and cultural factors on economic and social outcomes or applies simplistic assumptions far removed from the real world.This fragmentation has been stretched to the point of regarding finance as a field independent of the real economy.Q. Which of the following does the author includes in his definition of "real economy"?a)An economy that takes psychological and cultural aspects into account.b)An economy that takes economic principles into account.c)An economy that depends on events occurring in reality.d)An economy that relies on specialists and experts.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Anything founded on the basis of unity has scope for growth. When that unity moves towards integrality, the impetus for growth gets stronger. Mind operates by dividing reality into parts and regarding each as a whole in itself. It is an instrument of division. But its division is creative in that it expresses unity through division. In early civilizations, all life activities were centered on basic survival. Family, religion, production, festivals, trade, etc. were all closely interlinked. As society became more sophisticated, each sector acquired a life of its own and began to develop independently of the others. Thus, trade, commerce, banking and other sectors each developed a life of its own. Such a division eventually led to segregated specialization and fragmentation of knowledge, institutions and activities. These divisions appear real to the mind that accepts them, but social reality remains undivided and integrated.Current theories regard economy as a separate and independent sphere of activity, ignoring its inextricable linkages with politics, law, ecology, culture and the underlying forces of social power. Economics generally ignores the impact of subjective psychological and cultural factors on economic and social outcomes or applies simplistic assumptions far removed from the real world.This fragmentation has been stretched to the point of regarding finance as a field independent of the real economy.Q. Which of the following does the author includes in his definition of "real economy"?a)An economy that takes psychological and cultural aspects into account.b)An economy that takes economic principles into account.c)An economy that depends on events occurring in reality.d)An economy that relies on specialists and experts.Correct answer is option 'A'. 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These divisions appear real to the mind that accepts them, but social reality remains undivided and integrated.Current theories regard economy as a separate and independent sphere of activity, ignoring its inextricable linkages with politics, law, ecology, culture and the underlying forces of social power. Economics generally ignores the impact of subjective psychological and cultural factors on economic and social outcomes or applies simplistic assumptions far removed from the real world.This fragmentation has been stretched to the point of regarding finance as a field independent of the real economy.Q. Which of the following does the author includes in his definition of "real economy"?a)An economy that takes psychological and cultural aspects into account.b)An economy that takes economic principles into account.c)An economy that depends on events occurring in reality.d)An economy that relies on specialists and experts.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Anything founded on the basis of unity has scope for growth. When that unity moves towards integrality, the impetus for growth gets stronger. Mind operates by dividing reality into parts and regarding each as a whole in itself. It is an instrument of division. But its division is creative in that it expresses unity through division. In early civilizations, all life activities were centered on basic survival. Family, religion, production, festivals, trade, etc. were all closely interlinked. As society became more sophisticated, each sector acquired a life of its own and began to develop independently of the others. Thus, trade, commerce, banking and other sectors each developed a life of its own. Such a division eventually led to segregated specialization and fragmentation of knowledge, institutions and activities. These divisions appear real to the mind that accepts them, but social reality remains undivided and integrated.Current theories regard economy as a separate and independent sphere of activity, ignoring its inextricable linkages with politics, law, ecology, culture and the underlying forces of social power. Economics generally ignores the impact of subjective psychological and cultural factors on economic and social outcomes or applies simplistic assumptions far removed from the real world.This fragmentation has been stretched to the point of regarding finance as a field independent of the real economy.Q. Which of the following does the author includes in his definition of "real economy"?a)An economy that takes psychological and cultural aspects into account.b)An economy that takes economic principles into account.c)An economy that depends on events occurring in reality.d)An economy that relies on specialists and experts.Correct answer is option 'A'. 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