What does the term 'Orange Economy' refer to?
Economic activities linked to creativity, culture and intellectual property that generate income and jobs
The term 'Orange Economy' refers to economic activities linked to creativity, culture, and intellectual property that generate income and jobs. Let's break down this concept and the options provided in the question to understand why this is the correct choice.
- Definition of Orange Economy: The Orange Economy, also known as the creative economy or cultural economy, consists of activities in which the product or service contains a substantial element of artistic or creative effort. The sectors involved include arts, cultural heritage, music, publishing, software, video games, advertising, architecture, and so on. These sectors utilize intellectual property and creative skills to generate economic growth and employment.
- Explanation of Other Options:
- Economic activities linked to the aging population, including health care, leisure, and services for older adults, refer to the 'Silver Economy'. This is not related to the Orange Economy.
- Economic activities linked to desert ecosystems and their unique socio-environmental characteristics might be associated with environmental or green economies but are unrelated to the Orange Economy.
- Informal, unaccounted, or illegal economic activities that evade taxation and regulations are generally referred to as the 'Informal Economy' or sometimes as the 'Black Economy', not the Orange Economy.
- Conclusion: Given the explanation and definitions, the correct answer is that the Orange Economy involves economic activities associated with creativity, culture, and intellectual property that generate income and jobs. This definition is in line with the correct option provided.
Therefore, the correct option is: Economic activities linked to creativity, culture, and intellectual property that generate income and jobs.
Similar Questions
Consider the following investments in an economy by a foreign company :
1. Purchase of the ownership of a transport company
2. Setting up a new company to produce transport equipment
3. Acquisition of a Public Sector Unit
4. Building a storage facility to expand the production capacity
Which of the above are examples of brownfield investments?
In the context of labour market of an economy, consider the following statements :
1. Labour Force Participation Rate is defined as the share of employed and unemployed workers to the total working-age population.
2. Worker Population Ratio is defined as the share of unemployed workers to the total working-age population.
3. The usual activity status of a person is determined on the basis of the activities pursued by the person during the specified reference period of the last 365 days preceding the date of survey.
Which of the statements given above is/are correct?
India stands at number one at global level in the production of which of the following items?
1. Milk
2. Steel
3. Wheat
Select the correct answer using the code given below.
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