Indian Economy Questions

Domestic policy is an area of public policy which concerns laws, government programs, and administrative decisions which are directly related to all issues and activity within a nation's borders.

It differs from foreign policy, which refers to the ways a government advances its interests in world politics.

Hence, Option A, The Supreme Court strikes down a law that bans importing inefficient automobiles is an example of domestic policy action.

Entrepreneurship as a theory of business was propounded by Joseph. A. Schumpeter.

Schumpeter’s Innovation Theory of Profit :

Definition:  The Innovation Theory of Profit was proposed by Joseph. A. Schumpeter, who believed that an entrepreneur can earn economic profits by introducing successful innovations.

India slips to 7th position on the business optimism ranking.

The results of Grant Thornton’s International Business Report (IBR), a quarterly global business survey, reveal that business optimism in India has slipped from 2nd position in the last quarter to 7th position in the 3rd quarter of 2017.