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.
Indian constitutional amendment procedure is:
- Rigid
- Flexible
- Rigid as well as Flexible
- None
Indian constitution is more flexible than rigid. For example, most of its provisions can be amended by a two-thirds majority in the parliament. However, in order to amend some of the provisions like the election of the president, powers and functions, the extent of Centre-State relations, etc. apart from two-thirds majority in both houses of the parliament, the bill must be passed by at least half of the total state legislatures.
Raja Rammohan Roy was the founder of
- Arya Samaj
- Brahmo Samaj
- Ram Krishan Mission
- Prarthna Samaj
On August 20, 1828, the first assembly of the Brahmo Sabha was held at Kolkata (Calcutta).
This Sabha was convened by religious reformer Raja Ram Mohan Roy for his family and friends settled there. Brahmo Samaj is the monotheistic reformist movement of the Hindu religion that appeared during the Bengal Renaissance.
_______ 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
Microeconomics is the study of the behavior of individuals and firms in making decisions such as consumers, resource owners, and firms.
Which act completely ended the commercial trade monopoly of the East India Company?
- Charter Act of 1853
- Charter Act of 1833
- Charter Act of 1813
- Government of India Act, 1858
The charter Act of 1853 abolished East India Company's Monopoly of Indian trade. Under the government of India Act 1858, the British parliament took the responsibility for ruling India directly.
