Economic growth refers to
prevention of concentration of wealth
continuous growth of national income for atleast two years
continuous growth of per capita real income over a period of time in an economy.
continuous growth of per capita real income over a period of time in an economy.
Which of the following statements is incorrect?
The central problem of an economy is the problem of allocation of resources
Economy faces the problem of utilization of resources
Economy faces the problem of growth of resources
Economy faces the problem of growth of resources
In the case of direct taxes, the payment liability and the ultimate burden of the tax lies upon
the person on whom it has been imposed
the person on whom it has not been imposed
the tax department who collects the taxes
the tax department who collects the taxes
Interest paid to a bank for a crop loan is
a transfer payment
a factor payment
capital formation
capital formation
If only a part of the labour force employed by a firm can be dismissed at anytime and without pay, the total wages and salaries paid by the firm must be considered.
a variable cost
a fixed cost
partly a fixed cost and partly a variable cost
partly a fixed cost and partly a variable cost
Members of the Union Public Service Commission are appointed by the
President
Prime minister
Chief Justice
Chief Justice
A.
President
Who said - A state is known by the rights that it maintains?
Laski
Maclver
J S Mill
J S Mill
Which of the following systems is based on the principle of surplus value?
Capitalism
Individualism
Idealism
Idealism
Which of the following provides Representative Government?
Indirect Democracy
Direct Democracy
Democracy
Democracy
What is the main duty of the Legislature?
Enacting laws
Implementing judicial matters
Implementing laws
Implementing laws