InterviewSolution
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your knowledge and support exam preparation. Choose a topic below to get started.
| 3401. |
Define the Correlation coefficient. |
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Answer» Correlation coefficient is the measurement of the correlation between two or more variables. Its value extends between -1.00 to +1.00. The concept was first introduced by Sir Francis Galton. The Pearson product-moment correlation coefficient is the most commonly used type of correlation coefficient. |
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| 3402. |
How many steps were constructed in the Baoli (Large Well) at Goindwal? |
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Answer» Guru Amar Das Ji constructed 84 steps in the Baoli at Goindwal. |
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| 3403. |
What is the contribution of Guru Angad Sahib to the development of Sikh religion? |
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Answer» Guru Angad Dev Ji became the second Guru of the Sikh religion in 1539 after Guru Nanak Dev Ji. His period proved to be a blessing for the Sikh religion. Guru Sahib contributed to the development of the Sikh religion in the following manner: 1. Improvement in Gurumukhi Script: Guru Angad Dev Ji made improvements in the Gurumukhi script. In order to popularise Gurumukhi, Guru Sahib wrote ‘Bal Bodh’ to help the children learn the alphabet of Gurumukhi. The Gurumukhi was a common language of the people of the region. It helped in the promotion of Sikh religion. All the religious literature of Sikhism is written in Gurumukhi script. 2. The Janam Sakhi of Guru Nanak Dev Ji: Guru Angad Dev Ji instructed Bhai Bala Ji to write the Janam Sakhi of Guru Nanak Dev Ji. Guru Sahib also collected all the sayings of Guru Nanak Dev Ji. It helped the Sikhs to follow the true path shown by Guru Nanak Dev Ji. Guru Sahib himself also wrote Bani in line with the teachings of Guru Nanak Dev Ji. 3. The Langar System: Guru Aiigad Dev Ji continued the Langar system with full devotion. Langar was served to all the people without any distinction based on caste system. It helped in decreasing the feelings of inequality based on caste system and helped in spreading the message of Sikh religion. 4. Separating the Udasis from the Sikhs: The eldest son of Guru Nanak Dev Ji, Bhai Sri Chand had established the Udasi sect. He had popularised asceticism (Sanyas). The idea of asceticism was against the fundamental teachings of Guru Nanak Dev Ji. Guru Angad Dev Ji made it clear to his followers that the Sikh religion is a religion of householders. There was no place for ascetics (Sanyasis) in it. Guru Sahib declared that those Sikhs, who believed in asceticism, were not true Sikhs. In this manner, by separating Udasis from the Sikh community, Guru Sahib strengthened the Sikh religion. 5. Laid the foundation of Goindwal: Guru Angad Dev Ji founded the city of Goindwal. This city became an important Sikh religious centre during the period of Guru Amar Das Ji. Even today, it is one of the most important religious centres of Sikhism. 6. Enforced Discipline: Guru Angad Dev Ji maintained strict discipline in his Sikh community. He turned out Bhai Satta and Bhai Balwand out of Sikh Sangat for breaking discipline. However, on the request of Bhai Laddha, Guru Sahib pardoned them. This episode served as a warning to the in disciplined elements in the Sikh community. It is true that Guru Angad Dev Ji had given a distinct identity to the Sikh religion by making improvements in Gurumukhi script. The Sikh followers got their own separate script and language. The langar system freed the Sikh religion from the influence of caste system. It helped Sikh religion to establish its own separate identity different from the Hindu religion. All the credit goes to Guru Angad Dev Ji for all such developments which made Sikh religion a distinct religion. |
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| 3404. |
Write about anyone important contribution made by Guru Ram Das Ji for the spread of Sikh religion. |
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Answer» Guru Ram Das Ji founded and developed the holy city of Amritsar. |
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| 3405. |
Which Guru Sahib had started Manji system? |
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Answer» Guru Amar Dass Ji started the Manji system. |
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| 3406. |
Write short note on Observation method |
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Answer» Observation method is a research method that is employed in conditions where experiments may not be possible or even necessary. Observation is used by child psychologists and social psychologists. It may be carried out in a natural setting, for e.g., observing candidates waiting their turn for an interview. It may also be carried out in controlled conditions. The following factors should be kept in mind while carrying out the observation 1. it should be done systematically. 2. a comprehensive list of behaviours to be observed must be prepared. 3. the persons should not be aware of being observed. The disadvantages of observation are: 1. it is a time consuming method. 2. objectivity is difficult to maintain during observation. 3. it is difficult to establish cause-effect relationships. |
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| 3407. |
How,does availability of water affect the distribution of population? Or How does water supply affect population density? |
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Answer» Water is the most important factor for life. People give priority to get settled in such regions where water is easily available. Water is an element with multiple uses. Water is used for drinking, washing, bathing, preparing food, and for animals, crops, industries and boating. This is the reason that due to the availability of water, river valley regions are the most densely populated areas of the world. World’s ancient civilisations – Nile Valley Civilisation, Indus Valley Civilisation and Mesopotamia Civilisation had developed on the banks of rivers. |
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| 3408. |
Write short notes on Case study method |
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Answer» Case study method is a qualitative research method employed by clinical psychologists. It provides intensive, descriptive information about an individual from multiple sources such as family, peers, school, academic and health records, etc. This helps to assess the person’s level of psychological and social functioning. Researchers may employ techniques like observation, interview, psychological tests, etc. Psychologist such as Sigmund Freud and Jean Piaget made extensive use of case study method. However, this method is very time consuming and subjective. |
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| 3409. |
Write about any one major contribution of Guru Amar Das Ji for the spread of Sikh religion. |
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Answer» Guru Amar Das Ji completed the construction of Goindwal. |
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| 3410. |
What work was done by Guru Amar Das Ji for the development of Sikh religion? |
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Answer» Guru Amar Das Ji occupies an important place in the history of Sikh religion. The seeds of the religion which Guru Nanak Dev Ji had sowed, sprouted during the period of Guru Angad Dev Ji. Guru Amar Das Ji raised a fence around the new religion and saved it from getting absorbed into Hindu religion. Guru Amar Das Ji helped the Sikh community to adopt new customs and traditions in their social life, which developed the real traits of Sikh religion. They were different from the social customs and traditions of the Hindu religion. No doubt, Guru Sahib was a great divine soul. Payne, a scholar, called him an aggressive reformer. Another scholar has praised Guru Sahib as a genius and a man of justice. It is a historical fact that it was during his period that Sikh religion established its distinctive identity. A brief survey of the work of Guru Amar Das Ji is as follows: 1. Construction of Baoli at Goindwal: Guru Amar Das Ji completed the construction work of Baoli at Goindwal which was started during the period of Guru Angad Dev Ji. Guru Amar Das Ji constructed 84 steps in the Baoli. Guru Sahib said that a Sikh could get freedom from the cycle of births and deaths covering 84 lakh forms of lives by reciting the hymns of Jupji Sahib on each step. The Baoli of Goindwal became an important place of pilgrimage for the Sikhs. 2. Langar System: Guru Amar Das Ji also made the Langar system popular which helped further in the spread of Sikhism. Guru Sahib made some more rules for Langar System. As per the new rules, whosoever wanted to earn the benefit of participation in Sangat, he must partake Langar with the rest of the Sangat before joining it in the presence of Guru Sahib. While partaking food in the Langar, Brahmins, Kshatriyas, Vaishs, Shudras, Kings, common men and people of all castes and tribes sat in one row and partook food. Langar system propagated the message of Sikh religion in a more forceful and effective manner. It ended the discrimination based on castes. It developed the feelings of unity and equality in the Sikh Sangat. As a consequence, it bound the Sikhs into a strong bond of unity. 3. Collection of the Sayings of Guru Sahiban: Guru Angad Dev collected the true ‘Bani’ of Guru Nanak Dev Ji and added his own ‘Bani’ also. Guru Angad Dev Ji entrusted the sacred collection to Guru Amar Das Ji. Guru Amar Das Ji also composed his ‘Bani’ and added to the collection. In this manner, the true ‘Bani’ was preserved in a pure form and later found place in the ‘Adi Granth Sahib’. The grandson of Guru Amar Das Ji, Guru Arjan Dev Ji accomplished the ultimate task. 4. Manji System: The number of followers of Sikhism had increased manifold by the time of Guru Amar Das Ji. Guru Amar Das Ji found it difficult to reach all his disciples who were spread over a large area. Guru Sahib divided his spiritual territory into 22 regions. Each region was called a ‘Manji’. Each Manji was a centre of religious preaching and Guru Sahib appointed learned and reliable Sikh devotees to control each Manji. The establishment of Manji system was an important step in the systematic organisation of the Sikh religion. G.C. Narang in his book ‘Transformation of Sikhism’, remarks that the introduction of Manji System by Guru Sahib had strengthened the Sikh religion and contributed to the spread of Guru’s divine message in different regions of the country in a more effective way. 5. Separation of Sikhs from the Udasis: The Udasi sect of Baba Sri Chand had also become popular in the early period of Guru Amar Das Ji’s Guru Gaddi, There was a possibility of Sikh religion losing its identity by being merged with the Udasi sect. It is recognised by many historians that Guru Amar Das Ji had judged the situation and strongly spoken against the main principles of asceticism of Udasi sect, which were against the principles of Sikh religion as founded by Guru Nanak Dev Ji. Guru Amar Das Ji helped the Sikh Sangat to understand clearly that they would not be able to become true Sikhs, if they adopted the principles of Udasi sect. In this manner, because of the efforts of Guru Amar Das Ji, the Sikh religion maintained its separate identity and flourished. 6. Separate Sikh ceremonies: Guru Amar Das Ji instructed the Sikhs to discontinue useless customs and traditions. Among the Hindus, it was a tradition of weeping and crying over the death of one’s near ones. Guru Sahib advised his disciples to meditate on God in such situations in one’s life instead of performing useless ceremonies and rites. Guru Sahib also started a new ceremony for marriage which was called Anand Karaj. 7. Composition of Anand Sahib: Guru Sahib composed a new Bani which is called ‘Anand Sahib’. Anand Sahib ended the importance of Vedic hymns for the Sikhs and gave them their own sacred literature. Thus, the period of Guru Amar Das Ji’s Gurugaddi and his sacred literature occupy the most important place in the history of Sikh religion. Guru Sahib constructed a Baoli, introduced Manji System, elaborated the Langar System, and introduced new traditions and customs in the Sikh religion which was well-organised during his days. |
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| 3411. |
Write short note on Importance of rationality |
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Answer» Rationality implies being agreeable to reason. According to Stanovich, “Rationality involves adaptive reasoning, good judgement and good decision making.” According to Dr. Albert Ellis, rationality helps a person to successfully attain goals and be happy. He proposed Rational Emotive Behavioural Therapy (REBT), which is a popular intervention method in counselling psychology. Rationality is important because: 1. It allows us to make decisions in new or unfamiliar situations by helping us to gather and process relevant information. 2. It enables the person to exhibit tolerance and flexibility. 3. A rational person accepts oneself unconditionally and assumes responsibility for their own behaviour. 4. Rationality helps to understand and respect the views and interests of others. |
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| 3412. |
‘Short run production functions are fixed proportion production functions’. Do you agree? Substantiate |
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Answer» Yes, I agree with the statement that Short Run Production Functions are fixed proportion production functions. The short run is a time period where at least one factor of production is in fixed supply. A business has Ghosen it’s scale of production and must stick with this in the short run. We assume that the quantity of plant and machinery is fixed and that production can be altered by changing variable inputs such as labour, raw materials and energy. The time periods used differ from one industry to another for example, the short run in the electricity generation industry differs from local sandwich bars. If you are starting out in business with a new venture selling sandwiches and coffees to office workers, how long is your long run It could be as short as a few days – enough time to lease a new van and a sandwich making machine |
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| 3413. |
Which three festivals were selected by Guru Amar Das Ji for the Sikh community to celebrate? |
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Answer» Baisakhi, Maghi, and Diwali. |
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| 3414. |
Define the Science |
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Answer» The word science is derived from the Latin word ‘Scientia’ which means ‘knowledge’. Science is the pursuit and application of knowledge and understanding of the natural and social world, following a systematic methodology based on evidence. The key features of science are empirical evidence, objectivity, scientific causality, systematic exploration and replication. |
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| 3415. |
Identify the following three curves. |
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Answer» 1. TC 2. TVC 3. TFC |
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| 3416. |
Which among the following cost curves is not ‘U’ shaped? |
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Answer» AFC curve is rectangular hyperbola. |
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| 3417. |
A bus company started its operation with two buses, four labourers. It has paid a one-time road tax. As the passengers increased the company arranged more tripes, with the help of additional labour and for using more fuels. Classify the costs incurred by the bus company into xed and variable. |
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| 3418. |
Define the Objectivity |
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Answer» Objectivity is one of the key features of science. It refers to the ability to observe and accept facts as they exist setting aside all sources of expectations, values, prejudices, etc. Science objectively studies some particular phenomenon. |
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| 3419. |
How will you work on your weakest characteristic? Write two strategies. |
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Answer» Two strategies that I can use to improve the flexibility in my life is: 1. Adopt an unbiased perspective and non-judgmental thinking 2. Practicing meditation and mindfulness. |
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| 3420. |
What is meant by an experimenter? |
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Answer» The person who conducts the experiment is called the experimenter. |
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| 3421. |
Identify the shapes of the following cost curves. 1. AFC 2. AC 3. TFC4. TVC 5. TC |
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Answer» 1. AFC – Rectangular hyperbola 2. AC – ‘U’shape 3. TFC – Straight line parallel to X axis 4. TVC – Inverse‘S’ shape 5. TC – Inverse‘S’ shape |
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| 3422. |
TFC of a firm is ₹2,000 and TVC is ₹3,000. It produces 20 units. Calculate the AVC and AC of the rm. |
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Answer» TC = TFC + TVC AC = 5000/20 = 250 AVC = 3000/20 = 150 |
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| 3423. |
Which of the following cost will be zero when production is stopped?(a) Average Fixed cost (b) Total Cost (c) Fixed cost (d) Variable cost |
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Answer» (d) variable cost |
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| 3424. |
There exists vertical distance between 1. TVC and TC and (2) TC and TFC. What does this distance indicate? |
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Answer» 1. The vertical distance between TVC and TC represents the Total Fixed Costs (TFC). 2. The vertical distance between TC and TFC represents the Total Variable Costs (TVC) |
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| 3425. |
Both short run and long run average and marginal cost curves are U-shaped. But reasons for the U-shape are not the same. Bring out the differences. |
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Answer» Behaviour of output in the short run as explained by the law of variable proportions Behaviour of output in the long run as explained by the laws of returns to scale. |
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| 3426. |
What is meant by Dependent Variable? |
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Answer» Dependent Variable is the change in behaviour that occurs in the participants as a result of the Independent Variable introduced by the experimenter. |
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| 3427. |
An experiment is conducted to study the effect of practice on memory. In this, the Independent Variable (I.V)(a) practice (b) experiment (c) memory |
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Answer» Answer is (a) practice |
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| 3428. |
Identify the Independent Variable and Dependent Variable.1. To study the effect of colour on moods. 2. To study the effect of positive feedback on self-confidence. 3. To study the effect of loud noise on concentration levels. 4. To study the effect of exposure to classical music on reading skills. 5. To study the effect of a type of diet on weight loss.6. To study the effect of a fertilizer on crop growth. 7. To study the effect of solving previous years exam papers on scores in the exam. 8. To study the effect of worker’s participation in decision making on job satisfaction. |
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| 3429. |
An experimenter is a person on whom the experiment is conducted. True/False? |
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Answer» False An experimenter is a person on whom the experiment is conducted is False. |
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| 3430. |
Explain how principles of Management: (i) Help in optimum utilization of resources and effective administration and (ii) Help the managers in meeting changing environment requirements |
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Answer» (i) Principles of management help in optimum utilization of resources by equipping managers to foresee the cause and effect relationships thereby reducing the wastages associated with trial and error approach. Principles of management help in effective administration by limiting the boundaries of managerial discretion so that decisions are free from personal prejudices. (ii) Principles of management help the mangers in meeting requirements of changing environment because they can be modified according to the changes taking place in the environment. |
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| 3431. |
Discuss about the following topics that can be studied using correlation study method: (i) Bunking lectures and score in exams (ii) Weight and intelligence (iii) Amount of salary and level of job satisfaction (iv) Rehearsal and forgetting (v) Height and aptitude in music (vi) Urbanization and pollution (vii) Speed of vehicles and road accidents |
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Answer» (a) Positive correlation 1. Urbanization and pollution 2. Speed of vehicles and road accidents (b) Negative correlation 1. Bunking lectures and score in exams 2. Rehearsal and forgetting (c) Zero correlation 1. Weight and intelligence 2. Height and aptitude in music |
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| 3432. |
The table given below shows the total product schedule of labour. Determine the AP and MP of labour?LTPL00115235350440548 |
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| 3433. |
The following diagram represents TP, MP and AP curves of a firm. After studying the curves, answer the questions given below.(a) When does ‘TP’ becomes maximum?(b) At what rate (increasing or decreasing) does ‘TP’ increase when ‘MP’ increases? (c) When does ‘MP’ become negative? |
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Answer» (a) MP becomes zero (b) Increasing rate (c) TP decreases |
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| 3434. |
Match the following.ABAverage productTVC/QSACTC-TFCAVCTP/QTFCQ = f(x1, x2)Production FunctionTC/QTVCAFC x Q |
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| 3435. |
Which among the following is not ‘u’ shape (a) MC (b) AC (c) AVC (d) AFC |
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Answer» Correct answer is (d) AFC |
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| 3436. |
State whether the statement are true or false. 1. TC never becomes zero. 2. AC is sum total of AFC and AVC. 3. When AC rises, AC and MC are equal 4. Real cost is the cost in money terms 5. TFC curve is U shaped |
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Answer» 1. True 2. True 3. False 4. False 5. False |
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| 3437. |
Slope of an isoquant is: (a) marginal cost (b) DMRS (c) DMRTS (d) None of the above |
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Answer» Correct answer is (c) DMRTS |
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| 3438. |
Explain some of the challenges in establishing psychology as a science. |
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Answer» Many criticisms of psychology as a science have been made on practical, philosophical and ethical grounds. The challenges in establishing psychology as a science are: (i) It is in preparadigmatic state – According to American philosopher, Thomas Kuhn, psychology is still in a preparadigmatic state as it has not succeeded in producing a cumulative body of knowledge that has a clear conceptual cove. (ii) Issues related to objectivity and validity – Methods used in psychology such as introspection, surveys and questionnaires are subjective. Due to this, psychology lacks two criteria of science, i.e., objectivity and validity. (iii) Issues related to predictability and replicability – In psychology it is difficult to make exact predictions as people respond differently in different situations. Test result are more varied and hence difficult to replicate. (iv) Objectifying humans – According to some psychologists, subjecting human behaviour to experimentation amounts to objectifying individuals. |
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| 3439. |
Psychology is a science. (a) natural (b) social (c) biological |
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Answer» Correct option is (b) social |
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| 3440. |
Find out the Independent Variable and Dependent Variable from the experiment ideas given below: (i) To study the effect of practice on memory. (ii) To study the effect of mental set on problem solving. (iii) To study the effect of noise pollution on the speed of writing. (iv) To study the effect of colour on perception. (v) To study the effect of feedback on decision making |
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| 3441. |
What is meant by the phrase ‘invisible hand’? |
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Answer» According to Adam Smith, every person looks for his own self-interest and in pursuit of this in-tum works for the self-interest of all . In this sense, there seems to be an unseen force at work that converts what is good for each individual into what is good for the society. This unseen force was called the “invisible hand’ |
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| 3442. |
Explain the characteristics of a rational individual. |
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Answer» One of the significant aims of individuals is attainment of happiness. However, in the pursuit of happiness, one should not be driven by irrational influences or compromise on social norms and ethics. Psychology helps to improving life quality by applying the concept of rationality in daily life. According to Stanovich, “Rationality involves adaptive reasoning, good judgement and good decision making.” According to Dr. Albert Ellis, rationality helps a person to successfully attain goals and be happy. He proposed Rational Emotive Behavioural Therapy (REBT), which is a popular intervention method in counselling Psychology. According to Ellis, rational people possess characteristics such as: 1. Understanding both self-interest and social interest – Rational people understand what choices help them to grow and take responsibility for their actions. They are also careful not to violate other’s rights. 2. Self-direction – The person does not demand excessive attention or support from others as he/she assumes the responsibility for his/her own life. 3. Tolerance – It is the willingness to accept beliefs and behaviour patterns of others that may differ from our own way of thinking. 4. Flexibility – Rational people tend to be flexible and unbiased in their thoughts and actions. 5. Self-acceptance and self-responsibility – A rational person accepts him/herself unconditionally as well as responsibility for his/her thoughts, emotions and behaviour. The concept of rationality can be explained as:
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| 3443. |
What is ‘status symbol’? |
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Answer» Max Weber, coined the term Status symbol’ to describe the relationship between the goods that people buy as per their social status, i.e., the goods they buy and use are closely related to their status in the society. For example—Brand of cell phones or model of cars are important markers of socio¬economic status. . |
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| 3444. |
How do caste and kin networks contribute to the success of a business? |
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Answer» In the precolonial period on wards, India had an extensive trading connection, not only within the country but also outside. These trading connections were made by merchant groups who did extensive internal and external trades and mostly they were organized as a community based on their same caste or kinship and they did business on the basis of trust, loyalty and understanding that prevailed within their community. An interesting illustration of the use of traditional joint family structure and kinship and caste networks to build their business can be seen in banking and trading activities of Chettiars of Tamil Nadu. They controlled trade and banking all over south-east Asia and Ceylon (new Sri Lanka) in the 19th century and operate as joint family business. This is typical patriarchal structure of joint family but they used trust, unity and goodwill of kinship to build their connection. This gives its idea that Indians had their indigenous version of capitalism, when they ran business for profit, which was centres around caste and kinship |
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| 3445. |
In what ways is a market—such as a weekly village market—a social institution? |
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Answer» Though markets are places of economic interaction, since they are based on a particular social context and social environment, we can also regard them as social institutions where a specific kind of social interaction take place. Periodic markets (or weekly markets) are a central feature of social and economic organization. They give a chance to surrounding villages to interact with each other while they sell their goods. In villages, in tribal areas apart from regular markets, specialised markets are also organized where specific products are sold such as in the fair of Pushkar in Rajasthan. Thus, traders from outside come and also moneylenders, entertainers, astrologers and other specialists offering their services and product. Therefore, these periodic markets just do not fulfil local needs, they link the villages with The Market as a Social Institution regional economies and sometimes national economies. Thus in tribal areas they help in maintaining interconnections, which makes these markets a social institution. |
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| 3446. |
When MP becomes zero, TP: (a) increases (b) decreases(c) becomes maximum (d) becomes negative |
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Answer» (c) becomes maximum |
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| 3447. |
In your opinion, will the long term benefits of liberalisation exceed its costs? Give reasons for your answers. |
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Answer» The changes that have been made under the liberalisation programme have stimulated economic growth and opened up Indian markets to foreign companies. Increasing foreign investment is supposed to help economic growth and employment. The privatisation of public companies is supposed to increase their efficiency and reduce the governments burden of running these companies. However, the impact ef liberalisation has been mixed. Many people argue that liberalisation have had or will have, a negative net impact on India. As I think, the costs and disadvantages will be more than the advantages and benefits, so as some sectors of Indian industry like software and information technology or agriculture like fish or fruit may benefit from access to a global market, but other sectors like automobiles, electronics or oilseeds will lose because they cannot compete with foreign products and producers. |
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| 3448. |
What is meant by ‘liberalisation’? |
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Answer» Liberalisation is the process whereby state control over economic activities are minimised and left to the market forces to decide. In general, it is process of making laws more liberal and loosening of government rules and regulation on capital labour and trade; privatisation of public sector enterprises selling government around companies to private companies, a reduction in tariffs and import duties so that foreign goods can be imported more easily. • It includes privatisation of public sector enterprises. • It allows easier access for foreign companies to set up industries in India. • This is also known as marketisation or market based process to solve economic, social or political problems |
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| 3449. |
What are some of the processes included under the label ‘globalisation’? |
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Answer» In the era of globalisation the world is becoming increasingly interconnected. Their interconnections are not only economic but also cultural and political. The process of globalisation involves a number of trends, especially the increase in international movement of commodities money, information, people and development in technology. The main feature of globalisation is the increasing extension and integrations of markets around the globe. It means that changes in a market in one part of the globe may have a profound impact somewhere else far away. For example—India’s booming software industry may face a slump if the U.S. economy does badly as happened after the 9/11 attacks on the World Trade Centre in New York leading to a loss of business and jobs there. |
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| 3450. |
In what ways did the Indian economy change after the coming of colonialism? |
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Answer» The advent of colonialism in India produced major upheavals in the economy, causing disruptions in production, trade and agriculture. Cheap manufactured textiles from England completely destroyed the handloom industry and made the weavers jobless. In the colonial era, India began to be more fully linked to the world capitalist economy. Before being colonised by the British, India was a major supplier of manufactured goods to the world market. After colonialism, India became a source of raw materials and agriculture products and a consumer of manufactured goods, both largely for the benefit of industrialising England. But rather than completely overturning the existing economic institutions, the expansion of the market economy in India provided new opportunities to some merchant communities, which were able to improve their position by re-orienting themselves to changing economic circumstances. In some cases, new communities emerged to take advantage of the economic . opportunities provided by colonialism. A good example of this process is provided by Marwaris, probably the most widespread and best—known business community in India. |
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