CSEET · Economic and Business Environment · Indian Economy
Which of the following best explains why India is classified as an emerging market economy?
India is called an emerging market economy because it combines relatively fast economic growth, a large domestic consumer market and growing integration with the global economy through trade and investment, while its per-capita income remains below that of advanced economies.
- AIt has fast economic growth, a large domestic market and increasing integration with the global economyCorrect
- BIt has stagnant output and closed trade
- CIt has a fully developed per-capita income similar to advanced nations
- DIt has no financial markets
Explanation
Emerging economies show rapid growth, large consumer markets and rising global integration, which fits India. Stagnant output and closed trade do not apply. India's per-capita income is still well below advanced economies, and it has well-developed financial markets.
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