When did the East India Company?
- 31st December, 1600
- 13th December, 1598
- 31th December, 1609
- 11th December, 1603
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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.
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.
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 article of the Indian Constitution describes it as rigid and flexible?
- Article 332
- Article 368
- Article 300
- Article 312
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Article 368 of the Indian Constitution provides for two types of amendments.
1. By a special majority of Parliament.
2. By a special majority of the Parliament with the ratification by half of the total states.
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.
