ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Economic growth is necessary and sufficient to eradicate most of absolute poverty. False 3. As incomes rise there tends to be a shift of labor from the services sector to the industrial sector.

Detailed explanation-2: -Answer and Explanation: Economic growth is a necessary but not a sufficient condition to eradicate poverty and inequality, as wealth and income in an economy are unevenly distributed. Weaker sections of a society are living below the poverty level.

Detailed explanation-3: -Economists believe that economic growth benefits nearly all citizens of a country and therefore reduces poverty. If economic growth raises the income of everyone in a society in an equal proportion, then the distribution of income will not change.

Detailed explanation-4: -Growth is probably a necessary but insufficient condition for sustained human development – it can underpin gains in health, education and per capita incomes but many factors determine the development process.

Detailed explanation-5: -Economic growth has helped in the reduction of poverty, making it clear that there is a strong link between economic growth and poverty reduction. Economic growth encourages people to send their children, including the girl child, to schools in the hope of getting better economic returns from investing in education.