Who is considered as the father of economics?
Alfred Marshall Adam Smith David Ricardo Esther Duflo
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Adam Smith was an 18th-century Scottish philosopher. He is considered the father of modern economics. He published “The Wealth of Nations” in 1776.
Which Act abolished the administration system in India?
Pitt’s India Act of 1784 Government of India Act of 1858 Charter Act of 1913 Regulating Act of 1773
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The Regulating Act of 1773 abolished the administration system in India. This was the first step taken by the British government to control and regulate the affairs of the East India Company in India, as well as the first time the Company's political and administrative functions were recognized.
________ implies that sustainable development should take a holistic approach towards notions of progress and give equal importance to non-economic aspects of wellbeing.
National Happiness Index Psychological Wellbeing Index Living Standards Index Community Vitality Index
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Gross National Happiness (GNH), sometimes called Gross Domestic Happiness (GDH), it provides a way for the country to understand and enact progress based on the society's value of happiness.
What type of economy is followed in India?
Traditional Economy: Economic system based on goods, services, and work, all of which follow certain established trends. Command Economy: A dominant centralized authority – usually the government – that controls a significant portion of the economic structure. Market Economy: Economic system based on the concept of free markets. Mixed Economy: Economic system that combine the characteristics of the market and command economic systems.
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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.
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
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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.
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