Who introduced the term state for the first time?
- Karl Marx
- Machiavelli
- Rousseau
- Jean Bodin
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The term ‘State’ in its modern sense was first used by Machiavelli. The State consists of four elements. These are (a) the people; (b) the territory; (c) the government and (d) sovereignty.
Which one is not the Component of the Preamble?
- Sovereign
- Secular
- Hostility
- Democratic Republic
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The preamble declares India to be a sovereign, socialist, secular, and democratic republic. The objectives stated by the Preamble are to secure justice, liberty, and equality for all citizens and promote fraternity to maintain the unity and integrity of the nation.
Which article if the Indian Constitution abolishes untouchability?
- Article 30
- Article 17
- Article 19
- Article 21
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Abolition of Untouchability. To make an untouchability law further strong, parliament passed an Untouchability Offenses Act in 1955. However, this act was further amended and also renamed in the year of 1976 as Protection of the Civil Rights Act, 1955.
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 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.
