General Studies- IIII: Economy [10 Marks 150 Words ] 

Answer Structure:

• Introduction:  Social and  cultural factors have influenced economic growth all over the world 
• Body: Western  and Indian context 
• Conclusion: what is needed in Indian context . 

Answer

Introduction

Social and  cultural factors have influenced economic growth all over the world 

Body 

In western countries, education and their culture led to the spirit of physical adventure and discoveries leading to the rise of new mercantile classes who were interested in savings and investments and undertaking risks in order to earn lot of profits . This spirit was responsible for Industrial Revolution in European Countries in 18th and 19th Centuries . 

In underdeveloped countries, the activities of the people would be based on traditional religions and customs. In such countries , the family would be primary economic and social unit and relationships would personal and patriarchial and the decisions would be influenced  by caste , clan , creed and religion at the social level.

Conclusion

If economic development is to take place, social attitudes ,  values and institutions will have to be changed . India requires reforms not only in economic matters but also in social and political domains. 

(The model answer provided by us strictly follows the word limit, the above answer is compiled in  150  words.)

Practicing answers sticking to the word limit will aid the aspirants to write answers precisely and to the point avoiding unnecessary things. 

(Titles : Introduction, Body and Conclusion are just for reference, aspirants should not write these titles in the answer sheet.)