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.
_______ 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.
The nature of the Indian Constitution-
- Unitary
- Federal
- Quasi Federal System
- Parliamentary
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Indian constitution is federal in form and unitary in spirit. The meaning of the quasi-federal system is both federal and unitary. In Unitary Constitution the supreme governing authority of a state is concentrated in a single place(Central Government). In this constitution, the supreme power is divided between the central and state government, and both governments are independent in their domain.
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.
When did the East India Company?
- 31st December, 1600
- 13th December, 1598
- 31th December, 1609
- 11th December, 1603
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On 31 December 1600, the British East India Company received a Royal Charter from the British monarch Elizabeth I to trade with the East Indies. Later, the company colonized the Indian subcontinent.
