Is the Constitution of India flexible or rigid?
- Rigid
- Flexible
- Both (a) and (b)
- None
×
Indian Constitution is both a flexible and rigid form of constitution because in some cases it requires a simple majority of people for passing an amendment and in some cases, it requires the majority of people to pass the amendment.
What was the comparative advantage theory of David Ricacrdo?
- When a country can produce a good or service at a lower opportunity cost than another country.
- Pursuit of self-interest, division of labor, and freedom of trade.
- A theory of free-market capitalism directly opposed to government intervention.
- A theory centers on entrepreneurship, knowledge, innovation and technological advancement.
×
Comparative advantage is an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners.
Where in the sky would the Pole Star appear to an observer situated on the North Pole?
- At a fixed point on the horizon
- Perpetually below the horizon and invisible
- It depends on the time of the year
- At the zenith (exactly overhead)
×
The North Star or Pole Star is famous for holding nearly still in our sky while the entire northern sky moves around it. That's because it's located nearly at the north celestial pole
What type of economy is followed in India?
- Traditional Economy: Economic system based on goods, services, and work, all of which follow certain established trends.
- Command Economy: A dominant centralized authority тАУ usually the government тАУ that controls a significant portion of the economic structure.
- Market Economy: Economic system based on the concept of free markets.
- Mixed Economy: Economic system that combine the characteristics of the market and command economic systems.
×
A mixed economic system is a system that combines aspects of both capitalism and socialism. This means that some industries are controlled by private businesses and individuals, while other industries are controlled by the government.
Name the economist who gave the theory of тАЬComparative Advantage.тАЭ
- Adam Smith
- David Ricardo
- Thomas Robert Malthus
- Amartya Sen
×
David Ricardo was a classical economist best known for his theory on wages and profit, the labor theory of value, the theory of comparative advantage, and the theory of rents.