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.
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Comparative advantage is an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners.
Fundamental Rights are described in which articles of Indian Constitution?
- Article 12 to 35
- Article 14 to 32
- Article 14 to 35
- Article 12 to 32
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Article 12 to 35 contained in Part III of the Constitution deals with Fundamental Rights.
Which Act abolished the administration system in India?
- Pitt’s India Act of 1784
- Government of India Act of 1858
- Charter Act of 1913
- Regulating Act of 1773
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The Regulating Act of 1773 abolished the administration system in India. This was the first step taken by the British government to control and regulate the affairs of the East India Company in India, as well as the first time the Company's political and administrative functions were recognized.
Who was the first Governor-General of British India?
- Lord Dalhousie
- Warren Hastings
- WIlliam Bentick
- Lord Cornwallis
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William Bentick became the first Governor-General of India after the Charter Act of 1833. He was the Governor-General of Bengal from 1828 to 1833 and the Governor-General of India from 1833 to 1835.
When was Objective Resolution moved and by who?
- 26 December 1946, Jawaharlal Nehru
- 13 December 1946, Jawaharlal Nehru
- 26 November 1946, Dr. B R Ambedkar
- 9 December 1946, Dr. Rajendra Prasad
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On 13 December 1946, Jawaharlal Nehru moved the ‘Objective Resolution’. Objective Resolution enshrined the aspirations and values of the constitution-makers.
