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.
When did the East India Company?
- 31st December, 1600
- 13th December, 1598
- 31th December, 1609
- 11th December, 1603
×
On 31 December 1600, the British East India Company received a Royal Charter from the British monarch Elizabeth I to trade with the East Indies. Later, the company colonized the Indian subcontinent.
How do we consider a Constitution rigid or flexible?
- Based upon the provisions made for its amendment
- Based upon Constitutional Supremacy
- Based upon Parliamentary Supremacy
- Based upon Judicial Review
×
On the basis of amendments, a constitution can be classified into the categories of rigid and flexible. A rigid constitution is one that can't be amended easily, i.e., the US Constitution. A flexible constitution is one that can be amended easily, i.e., Britain.
Who is called the father of macroeconomics?
- Alfred Marshall
- John Maynard Keynes
- Adam Smith
- Leon Walras
×
Macroeconomics as a modern discipline began with the publication of John Maynard Keynes's General Theory of Employment, Interest, and Money where he offered a new theory of economics that evolved into Keynesian economics.
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.
