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Which river system is found in the south of India?

Pennar

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This question belongs to the set "Important Questions on Drainage System in India". Click below to read detailed notes and attempt the full quiz.

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What was the comparative advantage theory of David Ricacrdo?

A When a country can produce a good or service at a lower opportunity cost than another country.
B Pursuit of self-interest, division of labor, and freedom of trade.
C A theory of free-market capitalism directly opposed to government intervention.
D A theory centers on entrepreneurship, knowledge, innovation and technological advancement.

Explanation: Comparative advantage is an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners.

What type of economy is followed in India?

A Traditional Economy: Economic system based on goods, services, and work, all of which follow certain established trends.
B Command Economy: A dominant centralized authority – usually the government – that controls a significant portion of the economic structure.
C Market Economy: Economic system based on the concept of free markets.
D Mixed Economy: Economic system that combine the characteristics of the market and command economic systems.

Explanation: A mixed economic system is a system that combines aspects of both capitalism and socialism. This means that some industries are controlled by private businesses and individuals, while other industries are controlled by the government.

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