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Industrial Revolution 1.0 is related to the mechanization of production and vast usage of steam power. It also marked the first major transition from a handicraft economy to one involving the use of machines in the manufacturing processes. The industries that were impacted by industry 1.0 included the glass, mining, agriculture and textile industries. Industrial Revolution 2.0 was ushered with the invention of the electricity, gas and oil that helped in the driving of the combustion engine. It revolutionized the method of transportation and communication. Industrial Revolution 3.0 dealt with the evolution of Electronics and Information technology. It laid the foundation of automation and robotics. It was the Industrial Revolution 4.0 that dealt with the ultimate digitization and made data as the raw material. It builds on Industrial Revolution 3.0 and aims at complete automation and smart systems. It led to the creation of the virtual world that was the driving force of the physical world. Technologies like big data, Internet of things, Artificial Intelligence, Cloud computing, machine learning, etc. are the driving force of this.
An economist calculated the cross-price elasticity of demand for nicknacks and gizmos and got -0.5. What can she conclude about the relationsh...
Which of all the following is not an assumption of Marshall Consumer Theory of Demand?
The JAM (Jan-Dhan, Aadhaar, and Mobile) trinity has significantly contributed to which of the following in India?
If Mean is 39, Median is 40, what is the value of Mode?
For the 2 variables x and y with the same mean, the regression equation are y = 5x+b and x=7y +c. Calculate b/c
List – I | Which of the following statements is not true regarding BIS? A consumer has utility function given by : u{x1,x2} = min {2x1+x2, x1+2x2}. Given income m = 100, prices p1 = 20, p2 = 30, the amount of x1 in...
The equilibrium level of income is Refer to the below table and calculate the NNPmp
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