(a)[2]
Table 1 gives GDP at factor cost. What is the distinction between GDP at factor cost and GDP at market prices?
(b)[5]
(i) The extract states that India’s telecom industry was important for growth because of its multiplier effect. Using a numerical example, explain what economists mean by ‘the multiplier effect’.
(b)[5]
(ii) Use the information to explain how India’s telecom industry had a positive effect on the Indian economy.
(c)[8]
Assess how far the success of India’s telecom industry can be explained by the move from public sector monopoly to private sector competition.