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 – usually the government – 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.
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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 “Comparative Advantage.”
Adam Smith David Ricardo Thomas Robert Malthus Amartya Sen
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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.
Indian constitutional amendment procedure is:
Rigid Flexible Rigid as well as Flexible None
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Indian constitution is more flexible than rigid. For example, most of its provisions can be amended by a two-thirds majority in the parliament. However, in order to amend some of the provisions like the election of the president, powers and functions, the extent of Centre-State relations, etc. apart from two-thirds majority in both houses of the parliament, the bill must be passed by at least half of the total state legislatures.
Constitution day of India is celebrated on
26th November 1949 26th November 1948 26th January 1950 26th November 1946
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The Constitution of India was adopted by the Constituent Assembly on 26th November 1949 and came into force on 26th January, 1950.
Which theory explains the origin of the universe?
Geocentric Model Heliocentricity Big Bang Theory Pulsating Theory
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The Big Bang was 13.8 billion years ago when the universe began as a tiny, dense, fireball that exploded.
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