BPSC (Bihar) Exam > BPSC (Bihar) Questions > Consider the following statements:Statement-...
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Consider the following statements:
Statement-I:
A mixed economic system emerged in the late 1930s with market economies adopting policies from non-market economies to recover from the Depression.
A mixed economic system emerged in the late 1930s with market economies adopting policies from non-market economies to recover from the Depression.
Statement-II:
The World Bank recognized the necessity of state intervention in the economy, deviating from its previous stance in support of free market principles.
The World Bank recognized the necessity of state intervention in the economy, deviating from its previous stance in support of free market principles.
Which one of the following is correct in respect of the above statements?
- a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-I
- b)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-I
- c)Statement-I is correct, but Statement-II is incorrect
- d)Statement-I is incorrect, but Statement-II is correct
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
Consider the following statements:Statement-I:A mixed economic system...
Overview of the Statements
The question revolves around the emergence of mixed economies and the evolving stance of the World Bank regarding state intervention in the economy.
Statement-I Analysis
- **Mixed Economic System**:
- The late 1930s saw the rise of mixed economic systems, primarily as a response to the Great Depression.
- Market economies adopted various policies inspired by non-market economies (e.g., socialism) to stabilize and recover from severe economic downturns.
- This blend aimed to combine the efficiency of market mechanisms with social welfare principles.
Statement-II Analysis
- **World Bank's Shift**:
- The World Bank initially promoted free market principles as the primary means for economic development.
- However, recognizing the complexities of economic realities, it gradually acknowledged the necessity of state intervention.
- This shift reflected an understanding that government involvement could play a crucial role in economic stabilization and growth, especially in developing nations.
Conclusion
- **Correctness of Statements**:
- Both statements are accurate. Statement-I describes the historical context of mixed economies emerging to address the Great Depression.
- Statement-II explains the World Bank's evolving perspective, which aligns with the trends in economic policy during that era.
- **Explanation Link**:
- Statement-II elucidates the rationale behind the emergence of mixed economies in Statement-I, as both reflect a broader recognition of the need for state intervention in economic affairs to ensure recovery and stability.
In summary, the correct answer is option 'A' as both statements are correct, and Statement-II effectively explains the context of Statement-I.
The question revolves around the emergence of mixed economies and the evolving stance of the World Bank regarding state intervention in the economy.
Statement-I Analysis
- **Mixed Economic System**:
- The late 1930s saw the rise of mixed economic systems, primarily as a response to the Great Depression.
- Market economies adopted various policies inspired by non-market economies (e.g., socialism) to stabilize and recover from severe economic downturns.
- This blend aimed to combine the efficiency of market mechanisms with social welfare principles.
Statement-II Analysis
- **World Bank's Shift**:
- The World Bank initially promoted free market principles as the primary means for economic development.
- However, recognizing the complexities of economic realities, it gradually acknowledged the necessity of state intervention.
- This shift reflected an understanding that government involvement could play a crucial role in economic stabilization and growth, especially in developing nations.
Conclusion
- **Correctness of Statements**:
- Both statements are accurate. Statement-I describes the historical context of mixed economies emerging to address the Great Depression.
- Statement-II explains the World Bank's evolving perspective, which aligns with the trends in economic policy during that era.
- **Explanation Link**:
- Statement-II elucidates the rationale behind the emergence of mixed economies in Statement-I, as both reflect a broader recognition of the need for state intervention in economic affairs to ensure recovery and stability.
In summary, the correct answer is option 'A' as both statements are correct, and Statement-II effectively explains the context of Statement-I.
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Community Answer
Consider the following statements:Statement-I:A mixed economic system...
Statement-I correctly outlines the emergence of the mixed economic system in the late 1930s, where market economies integrated policies from non-market economies to recover from economic downturns like the Great Depression. This is historically accurate.
Statement-II accurately reflects the shift in the World Bank's stance towards recognizing the importance of state intervention in the economy, departing from its previous emphasis on free market principles. The World Bank's acknowledgment of the necessity of state involvement aligns with the evolution of economic systems towards a blend of market and non-market principles, as seen in mixed economies.
Therefore, both statements are correct, and Statement-II logically complements and explains the emergence of mixed economies following the Depression.
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Consider the following statements:Statement-I:A mixed economic system emerged in the late 1930s with market economies adopting policies from non-market economies to recover from the Depression.Statement-II:The World Bank recognized the necessity of state intervention in the economy, deviating from its previous stance in support of free market principles.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer?
Question Description
Consider the following statements:Statement-I:A mixed economic system emerged in the late 1930s with market economies adopting policies from non-market economies to recover from the Depression.Statement-II:The World Bank recognized the necessity of state intervention in the economy, deviating from its previous stance in support of free market principles.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? for BPSC (Bihar) 2024 is part of BPSC (Bihar) preparation. The Question and answers have been prepared according to the BPSC (Bihar) exam syllabus. Information about Consider the following statements:Statement-I:A mixed economic system emerged in the late 1930s with market economies adopting policies from non-market economies to recover from the Depression.Statement-II:The World Bank recognized the necessity of state intervention in the economy, deviating from its previous stance in support of free market principles.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for BPSC (Bihar) 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:Statement-I:A mixed economic system emerged in the late 1930s with market economies adopting policies from non-market economies to recover from the Depression.Statement-II:The World Bank recognized the necessity of state intervention in the economy, deviating from its previous stance in support of free market principles.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer?.
Consider the following statements:Statement-I:A mixed economic system emerged in the late 1930s with market economies adopting policies from non-market economies to recover from the Depression.Statement-II:The World Bank recognized the necessity of state intervention in the economy, deviating from its previous stance in support of free market principles.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? for BPSC (Bihar) 2024 is part of BPSC (Bihar) preparation. The Question and answers have been prepared according to the BPSC (Bihar) exam syllabus. Information about Consider the following statements:Statement-I:A mixed economic system emerged in the late 1930s with market economies adopting policies from non-market economies to recover from the Depression.Statement-II:The World Bank recognized the necessity of state intervention in the economy, deviating from its previous stance in support of free market principles.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for BPSC (Bihar) 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements:Statement-I:A mixed economic system emerged in the late 1930s with market economies adopting policies from non-market economies to recover from the Depression.Statement-II:The World Bank recognized the necessity of state intervention in the economy, deviating from its previous stance in support of free market principles.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer?.
Solutions for Consider the following statements:Statement-I:A mixed economic system emerged in the late 1930s with market economies adopting policies from non-market economies to recover from the Depression.Statement-II:The World Bank recognized the necessity of state intervention in the economy, deviating from its previous stance in support of free market principles.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for BPSC (Bihar).
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Here you can find the meaning of Consider the following statements:Statement-I:A mixed economic system emerged in the late 1930s with market economies adopting policies from non-market economies to recover from the Depression.Statement-II:The World Bank recognized the necessity of state intervention in the economy, deviating from its previous stance in support of free market principles.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Consider the following statements:Statement-I:A mixed economic system emerged in the late 1930s with market economies adopting policies from non-market economies to recover from the Depression.Statement-II:The World Bank recognized the necessity of state intervention in the economy, deviating from its previous stance in support of free market principles.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Consider the following statements:Statement-I:A mixed economic system emerged in the late 1930s with market economies adopting policies from non-market economies to recover from the Depression.Statement-II:The World Bank recognized the necessity of state intervention in the economy, deviating from its previous stance in support of free market principles.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Consider the following statements:Statement-I:A mixed economic system emerged in the late 1930s with market economies adopting policies from non-market economies to recover from the Depression.Statement-II:The World Bank recognized the necessity of state intervention in the economy, deviating from its previous stance in support of free market principles.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Consider the following statements:Statement-I:A mixed economic system emerged in the late 1930s with market economies adopting policies from non-market economies to recover from the Depression.Statement-II:The World Bank recognized the necessity of state intervention in the economy, deviating from its previous stance in support of free market principles.Which one of the following is correct in respect of the above statements?a)Both Statement-I and Statement-II are correct and Statement-II explains Statement-Ib)Both Statement-I and Statement-II are correct, but Statement-II does not explain Statement-Ic)Statement-I is correct, but Statement-II is incorrectd)Statement-I is incorrect, but Statement-II is correctCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice BPSC (Bihar) tests.
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