GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is Autarchy?
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Gradual increase of economy.
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Gradual decline of economy.
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Self sufficiency and self reliance of economy.
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Dependence of economy on external factors.
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Explanation:
Detailed explanation-1: -Autarky refers to a nation that operates in a state of self-reliance. Nations that follow a policy of autarky are characterized by self-sufficiency and limited trade with global partners.
Detailed explanation-2: -In fact, Lexico, whose content is provided by the same publisher as that of the Oxford English Dictionary, says that autarky is a variant spelling of and pronounced the same as autarchy and that autarchy is another term for autocracy.
Detailed explanation-3: -Self-reliance is the social and economic ability of an individual, a household or a community to meet essential needs (including protection, food, water, shelter, personal safety, health and education) in a sustainable manner and with dignity.
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