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Mind Map: Structural Change | Sociology for Class 12 - Grade 12

The document Mind Map: Structural Change | Sociology for Class 12 - Grade 12 is a part of the Grade 12 Course Sociology for Class 12.
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FAQs on Mind Map: Structural Change - Sociology for Class 12 - Grade 12

1. How does structural change impact an economy?
Ans. Structural change refers to the shift in the composition of an economy from one sector to another, such as from agriculture to manufacturing or services. This transition can lead to higher productivity, increased economic growth, and improved living standards as resources are reallocated to more efficient sectors.
2. What are some common drivers of structural change in an economy?
Ans. Common drivers of structural change include technological advancements, changes in consumer preferences, globalization, government policies, and shifts in demographics. These factors can influence the relative importance of different industries within an economy.
3. How can policymakers facilitate a smooth transition during periods of structural change?
Ans. Policymakers can facilitate a smooth transition during periods of structural change by investing in education and training programs to help workers adapt to new industries, implementing policies to support innovation and entrepreneurship, and fostering a competitive business environment. Additionally, social safety nets can help mitigate the negative impacts of structural change on vulnerable populations.
4. What are some potential challenges associated with structural change in an economy?
Ans. Some potential challenges associated with structural change include unemployment and income inequality as workers in declining industries may struggle to find new employment opportunities. There may also be resistance to change from vested interests and obstacles to reallocating resources efficiently across sectors.
5. How does globalization impact structural change in an economy?
Ans. Globalization can influence structural change in an economy by increasing competition, facilitating the spread of new technologies and ideas, and expanding market opportunities for businesses. This can lead to shifts in comparative advantage, changes in the pattern of trade, and the need for industries to adapt to new market conditions.
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