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Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R). Read the statements and choose the correct answer.
Assertion (A) Entrepreneurial innovation and experimentation constantly destroy the old and introduce new equilibria, making possible higher standards of living.
Reason (R) Markets do not passively tend towards equilibrium until profit margtns are wiped out.

Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R). Read the statements and choose the correct answer.
Assertion (A) Entrepreneurial innovation and experimentation constantly destroy the old and introduce new equilibria, making possible higher standards of living.
Reason (R) Markets do not passively tend towards equilibrium until profit margtns are wiped out. Correct Answer Both (A) and (R) are correct and (R) is the correct explanation of (A)

Related Questions

An assertion and a reason are given below. Assertion: The phenomenon of nuclear fission generates great energy. Reason: The process in which a nucleus is broken into two parts is called nuclear fission. Choose the answer. A. Both Assertion and Reason are true and Reason is the correct explanation of Assertion. B. Both Assertion and Reason are true but Reason is not the correct explanation of Assertion. C. Both Assertion and Reason are false. D. Assertion is true but Reason is false.
Consider the following statements.
1. A profit maximising monopolist in different markets will adjust his sales in the two markets, so that his MR in each market just equals his MC.
2. A profit maximising monopolist in separate markets will not adjust his sales.
3. A profit maximising monopolist in separate markets will adjust his sales in the two markets, so that his MR in each market will greater than MC.
4. A profit maximising firm in separate markets will adjust his sales in each market so, that his MR is less than MC.
Which of the statement(s) given above is/are correct?
Arrange the sentences in the correct order to form a meaningful sequence. 1. Globalisation refers to the integration of markets in the global economy.  P. Developments in ICT, transport and communications have accelerated the pace of globalisation over the past 30 years.  Q. It leads to the increased interconnectedness of national economies. R. The globalisation of sport and entertainment is also a feature of the late 20th and early 21st centuries. S. Markets where globalisation is particularly common include financial markets, such as capital markets, money and credit markets, and insurance markets, commodity markets etc. 6. The internet has enabled fast and 24/7 global communication, and the use of containerisation has enabled vast quantities of goods and commodities to be shipped across the world at extremely low cost.
Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R). Read the statements and choose the correct answer:
Assertion (A) The nominal interest rate comprises of a real interest rate and an expected rate of inflation and it adjusts when the inflation rate is expected to change. Hence, in the perfect international capital markets, real rate of returns are equal in the two countries.
Reason (R) The international fisher effects states that the nominal interest rate differential must be equal to the expected inflation rate differential In the two countries.
Given below are two statements. One is labelled as Assertion (A) and the other is labelled as Reason (R).  Assertion (A): Tax should not be charged on dividend income from the shareholders  Reason (R): Some economists are of the opinion that when tax has already been paid on the profit of the company and balance is distributed as dividend to the owners, tax need not be levied on them  In the light of the above two statements, choose the correct answer from the options given below  1. Both A) and R) true and R) is the correct explanation of A) 2. Both A) and R) true but R) is NOT the correct explanation of A) 3. A) is true but R) is false  4. A) is false but R) is true
The question below consists of a set of labelled sentences. Out of the four options given, select the most logical order of the sentences to form acoherent paragraph.
P: The recent reduction in interest rates in the US and the injection of liquidity have resulted in investors seeking new avenues such as commodity markets, in view
of the turbulence in financial markets and the low returns in treasuries.
Q: The relatively easy liquidity and low interest rates, by themselves, make holding of inventories attractive and thus induce volatility in commodity markets.
R: The financialisation of commodity trade and current extraordinary conditions in global financial markets could have influenced the spurt in prices.
S: The weakening of the US dollar is also advanced as a reason for the recent volatility in commodity markets, including food items.
Given below are two statements, one labelled as Assertion (A) and the other labelled as Reason (R). Select the correct answer:
Assertion (A) Federalism is not dead in India.
Reason (R) New regions are constantly demanding statehood.
Given below are two statements, one is labelled as Assertion A and the other is labelled as Reason R Assertion A: Choice-based Credit System (CBCS) is adopted out of the need for flexibility in the education system so that students, depending upon their interests and aims, can choose interdisciplinary, intra-disciplinary and skill-based courses. Reason R: The majority of Indian higher education institutions have been following a marks or percentage-based evaluation system, which obstructs the flexibility for the students to study the subjects/courses of their choice and their mobility to different institutions. In light of the above statements, choose the most appropriate answer from the options given below
Given below are two statements. One is labelled as Assertion (A) and the other is labelled as Reason (R).
Assertion (A): Tax should not be charged on dividend income from the shareholders.
Reason (R): Some economists are of the opinion that when tax has already been paid on the profit of the company and balance is distributed as dividend to the owners, tax need not be levied on them.
In the light of the above two statements, choose the correct answer from the options given below.
In the question below, are given a statement followed by three courses of actions numbered I, II and III. On the basis of the information given, you have to assume everything in the statement to be true, and then decide which of the suggested courses of action logically follow(s) for pursuing. Statement: India’s pharmaceutical sector is now popping out from a shell and making a remarkable recovery. Actually, it has been facing several regulatory challenges in the forms of a recast of foreign direct investment (FDI) policy, pricing policy in the US generics market, patent protection, regulatory approvals and compulsory licensing. Also limited new product launches in the generics space, GST introduction and higher costs associated with regulatory compliance have hurt the sector. Courses of action: I. The government has been engrossed more in policy making and taking resilient decisions for the concerns of the pharma industry. Recently, the government proposed to introduce a new price index for pharmaceutical products, which would serve as a benchmark for determining prices of all medicines sold in the country. II. Meanwhile, pharma companies’ constant investments in R&D have enabled them to develop a basket of robust products for markets across the world. In international markets, pricing pressure on generics sold in the US has eased and this is likely to support the sector. III. Domestic pharma sales grew to Rs. 10,583 crore in May 2018 from Rs. 9,549 crore in the same month last year. The recent clearance by the US Food and Drug Administration to Sun Pharma’s manufacturing plant at Halol in Gujarat brings to an end a two-year import ban it had imposed on the company over quality issues. This is likely to increase sales for the company.