Which among the following is NOT a major factors of economic growth?

1. A

   Accumulation of capital and reforms in technology

   Accumulation of capital and technical improvement are standard major factors of economic growth in classical and modern growth accounts (capital deepening and productivity). This pair is a factor, not the odd one out.

2. B

   Change in population

   Change in population (labour supply and demographic structure) is treated as a major growth factor in growth theory and development economics. It is on the list of majors, not off it.

3. C

   Division of labour in specialised activities

   Division of labour and specialisation raise productivity — a Smithian and classical growth factor. Specialised activities belong among major factors. This is not the exception.

4. D

   Technocrats and Bureaucrats

   (d) Official key: Technocrats and bureaucrats are an administrative personnel category, not listed among the major factors of economic growth in the usual triad of capital, labour/population and technology/specialisation. They may influence policy quality, but this paper treats them as not a major growth factor. That is the keyed ‘NOT’.

Summary. Official key is (d). Major growth factors in this question are capital-and-technology, population change, and division of labour. Technocrats and bureaucrats are officials, not that economic-factor set. The item that is not a major factor of economic growth is therefore technocrats and bureaucrats.