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.
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Comparative advantage is an economy's ability to produce a particular good or service at a lower opportunity cost than its trading partners.
Which article of the Indian Constitution describes it as rigid and flexible?
- Article 332
- Article 368
- Article 300
- Article 312
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Article 368 of the Indian Constitution provides for two types of amendments.
1. By a special majority of Parliament.
2. By a special majority of the Parliament with the ratification by half of the total states.
In which year was the constituent assembly established?
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The constituent assembly was formed in 1946 on the basis of the cabinet mission plan.
Fundamental Rights are described in which articles of Indian Constitution?
- Article 12 to 35
- Article 14 to 32
- Article 14 to 35
- Article 12 to 32
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Article 12 to 35 contained in Part III of the Constitution deals with Fundamental Rights.
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.
