UPSC Exam > UPSC Questions > Consider the following pairs:1. Lionel Robbi...
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Consider the following pairs:
1. Lionel Robbins - Study of managing limited resources
2. John Maynard Keynes - Father of microeconomics
3. Quaternary Sector - Activities related to bureaucracy
4. Industrial Economy - Economy where secondary sector contributes significantly
How many pairs given above are correctly matched?
- a)Only one pair
- b)Only two pairs
- c)Only three pairs
- d)All four pairs
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Consider the following pairs:1. Lionel Robbins - Study of managing li...
1. Lionel Robbins - Study of managing limited resources: This is correctly matched. Lionel Robbins defined economics as the study of managing limited resources in 1935.
2. John Maynard Keynes - Father of microeconomics: This is incorrectly matched. John Maynard Keynes is known as the father of macroeconomics, not microeconomics. He wrote "The General Theory of Employment, Interest and Money" in 1936, which laid the foundation for modern macroeconomics.
3. Quaternary Sector - Activities related to bureaucracy: This is incorrectly matched. The Quaternary Sector is actually related to activities involving knowledge, such as education, research, and development. Activities related to bureaucracy fall under the Quinary Sector.
4. Industrial Economy - Economy where secondary sector contributes significantly: This is correctly matched. An industrial economy is characterized by the secondary sector, which includes processing of raw materials and manufacturing, contributing significantly to national income and employment.
Thus, only pairs 1 and 4 are correctly matched, making Option B: Only two pairs the correct answer.
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Most Upvoted Answer
Consider the following pairs:1. Lionel Robbins - Study of managing li...
Analysis of Correctly Matched Pairs
- Lionel Robbins - Study of managing limited resources: This pair is correctly matched as Lionel Robbins is known for his definition of economics as the study of how limited resources are allocated to meet unlimited wants.
- John Maynard Keynes - Father of microeconomics: This pair is incorrectly matched as John Maynard Keynes is actually known as the father of macroeconomics for his work on government intervention in the economy.
- Quaternary Sector - Activities related to bureaucracy: This pair is incorrectly matched as the quaternary sector refers to knowledge-based activities such as research and development, information technology, and innovation, not activities related to bureaucracy.
- Industrial Economy - Economy where secondary sector contributes significantly: This pair is correctly matched as an industrial economy is characterized by a significant contribution from the secondary sector, which includes manufacturing and construction.
Therefore, out of the four pairs given, only two pairs are correctly matched, which makes option 'B' the correct answer.
- Lionel Robbins - Study of managing limited resources: This pair is correctly matched as Lionel Robbins is known for his definition of economics as the study of how limited resources are allocated to meet unlimited wants.
- John Maynard Keynes - Father of microeconomics: This pair is incorrectly matched as John Maynard Keynes is actually known as the father of macroeconomics for his work on government intervention in the economy.
- Quaternary Sector - Activities related to bureaucracy: This pair is incorrectly matched as the quaternary sector refers to knowledge-based activities such as research and development, information technology, and innovation, not activities related to bureaucracy.
- Industrial Economy - Economy where secondary sector contributes significantly: This pair is correctly matched as an industrial economy is characterized by a significant contribution from the secondary sector, which includes manufacturing and construction.
Therefore, out of the four pairs given, only two pairs are correctly matched, which makes option 'B' the correct answer.
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Consider the following pairs:1. Lionel Robbins - Study of managing limited resources2. John Maynard Keynes - Father of microeconomics3. Quaternary Sector - Activities related to bureaucracy4. Industrial Economy - Economy where secondary sector contributes significantlyHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'B'. Can you explain this answer?
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Consider the following pairs:1. Lionel Robbins - Study of managing limited resources2. John Maynard Keynes - Father of microeconomics3. Quaternary Sector - Activities related to bureaucracy4. Industrial Economy - Economy where secondary sector contributes significantlyHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'B'. Can you explain this answer? for UPSC 2025 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Consider the following pairs:1. Lionel Robbins - Study of managing limited resources2. John Maynard Keynes - Father of microeconomics3. Quaternary Sector - Activities related to bureaucracy4. Industrial Economy - Economy where secondary sector contributes significantlyHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following pairs:1. Lionel Robbins - Study of managing limited resources2. John Maynard Keynes - Father of microeconomics3. Quaternary Sector - Activities related to bureaucracy4. Industrial Economy - Economy where secondary sector contributes significantlyHow many pairs given above are correctly matched?a)Only one pairb)Only two pairsc)Only three pairsd)All four pairsCorrect answer is option 'B'. Can you explain this answer?.
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