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.
__________ is the migration of health personnel in search of a better standard of living and quality of life, higher salaries, access to advanced technology, and more stable political conditions in different places worldwide.
- Immigration
- Emigration
- Brain Drain
- Mass Exodus
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“Brain drain” is a term used to describe the large-scale migration of skilled human capital that causes a country to lose its innovative capabilities and limits its economic growth.
_______ 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
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Microeconomics is the study of the behavior of individuals and firms in making decisions such as consumers, resource owners, and firms.
Name the branch of astronomy that involves the origin and evolution of the universe.
- Cosmology
- Meteorology
- Petrology
- Orology
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Cosmology is "the scientific study of the large-scale properties of the universe as a whole."
What does republic mean in the Indian Constitution?
- India is a Union of States
- The head of state is elected by people
- People have final authority in all the matters
- India has parliamentary system of government
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'Republic' is a State in which supreme power is held by the people and their elected representatives. It has an elected head of state rather than a monarch.
