Question

Which of the following best describes the core principle of a knowledge economy?

1. It is an economic system where the production of goods and services is primarily based on knowledge-intensive activities and innovation.
2. It relies heavily on the extraction and processing of natural resources.
3. It emphasizes the accumulation of physical capital over intellectual capital.
4. It is characterized by a decline in the importance of skilled labor.

• A. iv
• B. ii മാത്രം
• C. ഇവയൊന്നുമല്ല
• D. i മാത്രം

Answer 1

Answer:

D. i മാത്രം

• The knowledge economy is an economic system where the primary driver of production and service delivery is knowledge-intensive activities, focusing on technical and scientific innovation.

• This contrasts with traditional economies that rely more on physical capital or natural resources.

• Members of a knowledge economy are expected to acquire, create, disseminate, and apply knowledge to foster economic and social development.

• It highlights the significance of skills, particularly in service economies and post-industrial phases.

• It is closely linked to the information economy, which regards information as a crucial non-physical asset, and the digital economy.