Questions

Article 31B of the Indian Constitution "Validation of certain Acts and Regulations" deals with the

For what is Mohs scale used?

The functioning of a very old model pendulum clock was completely

In December 2017, who launched ‘Livestock Disease Forewarning – Mobile Application (LDF-Mobile App)’?

On 19 September 2017, Law Ministry approved Fugitive Economic Offenders Bill, 2017. It will allow FIU, the premier technical snoop wing under the Finance Ministry, to file an application for declaration of fugitive economic offender. What does ‘I’ stand for in ‘FIU’?

Which of the following is an example of social facilitation?

The Swadeshi Boycott Movement is related to

Read the following passage carefully and choose the most appropriate answer to the question out of the four alternatives.

Most economists in the United States seem captivated by the spell of the free market. Consequently, nothing seems good or normal that does not accord with the requirements of the free market. A price that is determined by the seller or, for that matter (for that matter: so far as that is concerned), established by anyone other than the aggregate of consumers seems pernicious. Accordingly, it requires a major act of will to think of price-fixing (the determination of prices by the seller) as both "normal" and having a valuable economic function. In fact, price-fixing is normal in all industrialized societies because the industrial system itself provides, as an effortless consequence of its own development, the price-fixing that it requires. Modern industrial planning requires and rewards great size. Hence, a comparatively small number of large firms will be competing for the same group of consumers. That each large firm will act with consideration of its own needs and thus avoid selling its products for more than its competitors charge is commonly recognized by advocates of free-market economic theories. But each large firm will also act with full consideration of the needs that it has in common with the other large firms competing for the same customers.

A major act of will will bring about price-fixing that will be seen as -