If there is a deadlock between Rajya Sabha and Lok Sabha over an ordinary bill, it will be resolved by
- The President
- The Council of Ministers
- The Joint Session of Parliment
- The Supreme Court
The Joint Session of Parliament resolves the deadlock between Rajya Sabha and Lok Sabha over an ordinary bill.
Which of the Viceroys started the budget system in India?
- Lord Minto
- Lord Macualey
- Lord Canning
- Lord Dalhousie
The introduction of the budget system in India started in the era of Lord Canning, the first Viceroy of India.
Who has the power to create new states?
- Parliament of India
- Chief Justice of India
- Governor
- State legislatures
Article 3 assigns to Parliament the power to enact legislation for the formation of new States. Parliament may create new States in a number of ways, namely by (i) separating the territory from any State, (ii) uniting two or more States, (iii) uniting parts of States, and (iv) uniting any territory to a part of any State.
The Charter was issued to the East Indian Company in 1600 by whom?
- King Charles II
- Queen Elizabeth I
- Queen Victoria
- Queen Mary
On December 31, 1600, Queen Elizabeth I issued the Royal Charter to the East India Company. The British East India Company established trading facilities on the east and west coasts of India as well as in Bengal as a result of this Charter.
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.
