There has been no democracy that has grown economically without corporate capitalism. It helps in modernising the economy and enabling the transition from rural to urban, and agriculture to industry and services, which are inevitable with growth. It generates jobs - and there is no other way to fix a country's unemployment challenge without a further impetus to private business. Big companies can operate on a large scale and become competitive both domestically and externally. A vibrant corporate capitalist base also leads to additional revenues for the State- which in turn, can be used for greater welfare for the marginalised and creating a more level playing field in terms of opportunities.

Which one of the following statements best reflects the critical message conveyed by the author of the passage?

There has been no democracy that has grown economically without corporate capitalism. It helps in modernising the economy and enabling the transition from rural to urban, and agriculture to industry and services, which are inevitable with growth. It generates jobs - and there is no other way to fix a country's unemployment challenge without a further impetus to private business. Big companies can operate on a large scale and become competitive both domestically and externally. A vibrant corporate capitalist base also leads to additional revenues for the State- which in turn, can be used for greater welfare for the marginalised and creating a more level playing field in terms of opportunities.

With reference to the above passage, the following assumptions have been made:

I. Corporate capitalism promotes the growth of labour force and provides more employment opportunities.

II. Poor and marginalised sections of population are benefited by corporate capitalism due to trickle-down effect.

Which of the above assumptions is/are valid?

"A network of voluntary associations stands as a 'buffer' between the relatively powerless individual and the potentially powerful State."

Which one of the following statements reflects the best explanation of the above passage?

A single number for inflation is an aggregate across different commodities and services - the price rise differs for different items of consumption. So, the single number is arrived at by assigning weights to different commodities and services. For WPI, the weights in production are used; for CPI, the consumption basket is used. But people are not homogeneous. The consumption basket is vastly different for the poor, the middle classes, and the rich. Hence, the CPI is different for each of these classes and a composite index requires averaging the baskets.

Which one of the following statements best reflects the most logical, rational and crucial message conveyed by the passage?