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.
Indian constitutional amendment procedure is:
Rigid Flexible Rigid as well as Flexible None
×
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.
How many articles, parts, and schedules are in the Indian constitution?
395 Articles, 22 Parts, and 8 Schedules 395 Articles, 22 Parts, and 12 Schedules 385 Articles, 22 Parts, and 8 Schedules 385 Articles, 22 Parts, and 12 Schedules
×
At its enactment, it had 395 articles in 22 parts and 8 schedules. At about 145,000 words, it is the second-longest active constitution—after the Constitution of Alabama—in the world.
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.
Name the economist who gave the theory of “Comparative Advantage.”
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.
⬅ Prev Next ➡
