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.
_______ is the study of the behavior of individuals and firms in making decisions such as consumers, resource owners, and firms.
- Macroeconomics
- Neo-classical economics
- Microeconomics
- Monetarist economics
Microeconomics is the study of the behavior of individuals and firms in making decisions such as consumers, resource owners, and firms.
What is the pulsating theory of the universe?
- A cosmological model that combines both the Big Bang and the Big Crunch as part of a cyclical event
- An expansion and contraction of the star as a whole in a regular periodic pulsation
- All the matter of the universe was present in a single place in the form of hot and dense fireball
- Counting of the galaxies is constant and new galaxies which are forming continuously are filling the empty spaces
Sir J.C. Bose proposed a theory of the ascent of sap known as the pulsation theory. The Pulsating Universe Theory says that the universe follows self-sustaining cycles such as expanding and contrasting.
Which innovative discussion process is introduced by the Indian parliament to the World Parliamentary systems?
- Question hour
- Zero hour
- Resolutions
- Presidential Speech
Zero hour refers to the leftover time after question hour in Indian Parliament. During this time members are allowed to raise matters of importance without giving any prior notice. Zero hour is entirely at the discretion of the Speaker as there is no constitutional provision with regard to this.
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.
