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.
Who proposed the theory of the expanding universe?
- Georges Lemaitre
- Galileo Galilei
- Edwin Hubble
- Claudius Ptolemy
×
American astronomer Edwin Hubble discovered in the 1920s that the Universe is expanding by showing that most galaxies are receding from the Milky Way and the farther away they are, the faster they are receding.
People who regularly move in and out of poverty (for example small farmers and seasonal workers). The occasionally poor are rich most of the time but may sometimes have a patch of bad luck are called ______
- Chronic poor
- Churning poor
- Transient poor
- Non-poor
×
The churning poor are the people who go in and out of poverty (for example, small farmers and seasonal workers).
Who is known as the ‘Architecture of Indian Constitution’?
- Dr. B R Ambedkar
- Jawaharlal Nehru
- Sardar Vallabhbhai Patel
- Dr. Rajendra Prasad
×
Because of his role in drafting the Constitution of India, Dr. Bhimrao Ambedkar is well known throughout India as the chief architect of the Indian Constitution.
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.
