Economics 3 Marks Question

The rate of investment and choice of technology determine the growth rate of employment in an economy. The emphasis on growth of the economy through modernisation of production techniques has resulted in jobless growth in India. A jobless recovery or jobless growth is an economic phenomenon in which an economy experiences growth while maintaining or decreasing its level of employment. We can see that the modern techniques employed in production use capital intensive method of production, which is cost effective and gives more output by employing less labour. Since labour intensive techniques of production are replaced by capital intensive methods, therefore, it has been difficult to maintain an employment growth rate of 2% for our country.

Recently Indians have drifted away from the traditional knowledge and practices and caused large scale damage to environment. The given statement is quite appropriate.

• India is very much privileged to have about 15,000 species of plants which have medicinal properties. The traditional health care systems such as Ayurveda, Unani, Tibetan etc. are very useful for treating chronic health problems.
• Traditional cosmetic products are herbal in composition. These products are not only environment-friendly but also are free-from side effects. They do not involve largescale industrial and chemical processing.

The accumulation of certain gases like carbon dioxide, nitrogen oxide, and methane in the atmosphere has increased its average temperature over years. Such gases trap the heat waves of the Sun thereby causing the melting of polar ice caps in the Arctic and Antarctic regions. The melting of polar ice has increased the water level in oceans and seas causing frequent floods and droughts across the world. Agriculture is the most affected sector by this global climatic change. This increase in the average temperature of the atmosphere is known as the 'greenhouse' effect and the gases causing it are called the 'greenhouse gases'. Consequently, ecological balance is impaired, inflicting greater incidence of natural calamities.