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.
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
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The churning poor are the people who go in and out of poverty (for example, small farmers and seasonal workers).
Who introduced the term state for the first time?
Karl Marx Machiavelli Rousseau Jean Bodin
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The term ‘State’ in its modern sense was first used by Machiavelli. The State consists of four elements. These are (a) the people; (b) the territory; (c) the government and (d) sovereignty.
Which one is not the Component of the Preamble?
Sovereign Secular Hostility Democratic Republic
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The preamble declares India to be a sovereign, socialist, secular, and democratic republic. The objectives stated by the Preamble are to secure justice, liberty, and equality for all citizens and promote fraternity to maintain the unity and integrity of the nation.
Who has the power to create new states?
Parliament of India Chief Justice of India Governor State legislatures
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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.
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