Economic Thoughts
Gujarat Board · Class 11 · Economics
Flashcards for Economic Thoughts — Gujarat Board Class 11 Economics. Quick Q&A cards covering key concepts, definitions, and formulas.
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Who was Kautilya and what is his most famous work?
Answer
Kautilya, also known as Chanakya or Vishnu Gupta, was a scholar and strategist from the 3rd century BC. He authored 'Arthshastra', a comprehensive text on statecraft, economics, and governance. He hel…
According to Kautilya, what are the 7 sources of state income?
Answer
The 7 sources of state income according to Kautilya are: (1) Towns (2) Villages (3) Irrigation (4) Mines (5) Jungle (6) Animal husbandry (7) Trade and Commerce…
What is Kautilya's definition of 'Arthshastra'?
Answer
According to Kautilya: 'The intention of a human being is arth; the piece of land with human settlement is arth; and the science that gives solution pertaining to maintenance of land and attaining ben…
What are the three types of Import-Export taxes classified by Kautilya?
Answer
(1) External Charges: For material produced in the country (2) Internal Charges: For material produced in the state or capital (3) Aatithya Charges: For material imported from foreign regions or state…
How did Kautilya classify land ownership?
Answer
Kautilya classified land in two types: (1) Land under state ownership (2) Land under ownership of private individuals. He suggested that state-owned land should be cultivated by slaves, prisoners, and…
Which book influenced Gandhi's concept of 'Sarvodaya'?
Answer
Gandhi's idea of 'Sarvodaya' was inspired by British writer John Ruskin's book 'Unto the Last'. From this book, he derived the importance of labour work and ways to eradicate poverty from India.
What does 'Sarvodaya' mean according to Gandhi?
Answer
Sarvodaya means 'upliftment of all'. Gandhi envisioned a society devoid of violence in which the helpless, poor and needy are uplifted to a state of wellbeing. It is based on mutual cooperation and lo…
What was Gandhi's view on the use of machinery?
Answer
Gandhi was not against machines but opposed their reckless use. He favoured: (1) Basic machines useful to poor producers (2) Machines that facilitate labour but not replace it (3) Machines for welfare…
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