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.
Why does a star produce its own light and heat?
- Nuclear fission
- Nuclear fusion
- Chemical reaction
- None
×
Stars are huge celestial bodies made mostly of hydrogen and helium. Heat and light energy produced by the stars are due to the fusion reaction of hydrogen atoms.
In which of these constellations does the current Pole Star, Polaris, lie?
- Ursa Minor
- Orion
- Ursa Major
- Corona Borealis
×
Ursa Minor, or the 'Little Bear', is a relatively conspicuous constellation, visible from the latitudes 90 degrees North to 10 degrees South. It is 'circum-polar', i.e. always visible in the sky, above 20 degrees North latitude.
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.
Who is considered as the father of economics?
- Alfred Marshall
- Adam Smith
- David Ricardo
- Esther Duflo
×
Adam Smith was an 18th-century Scottish philosopher. He is considered the father of modern economics. He published “The Wealth of Nations” in 1776.
