1868 + Interview Questions in Economics Page 1 InterviewSolution

1.	Which of the following will not decrease the demand for a normal good?
Answer» Which of the following will not decrease the demand for a normal good?

Discussion

2.	Supposethere are 20 consumers for a good and they have identical demandfunctions:D(p)= 10 − 3pfor any price less than or equal to and d1(p)= 0 at any price greater than .Whatis the market demand function?
Answer» Suppose there are 20 consumers for a good and they have identical demand functions: D(p) = 10 − 3p for any price less than or equal to and d₁(p) = 0 at any price greater than . What is the market demand function?

2.

Supposethere are 20 consumers for a good and they have identical demandfunctions:D(p)= 10 − 3pfor any price less than or equal to and d1(p)= 0 at any price greater than .Whatis the market demand function?

Answer»

Suppose
there are 20 consumers for a good and they have identical demand
functions:

D(p)
= 10 − 3p
for any price less than or equal to
and d₁(p)
= 0 at any price greater than
.

What
is the market demand function?

Discussion

3.	Monopolistic competition occurs when which of the assumptions about a perfectly competitive market is broken?
Answer» Monopolistic competition occurs when which of the assumptions about a perfectly competitive market is broken?

Discussion

4.	‘To avoid government regulation, businessmen follow the concept of social responsibility’. Is this statement true?
Answer» ‘To avoid government regulation, businessmen follow the concept of social responsibility’. Is this statement true?

Discussion

5.	Which one of the following roles is not characteristic of an essential element?
Answer» Which one of the following roles is not characteristic of an essential element?

Discussion

6.	Which of these sectors did the first plan focus on?
Answer» Which of these sectors did the first plan focus on?

Discussion

7.	Remplace les mots soulignés par des pronoms :1. J’ai mis les fleurs sur la table de mon professeur.2. Tu prendras du pain et tu vas mettre le pain dans le sac.3. Vous ne pouvez pas monter le Qutab Minar.4. Je vais chez Paul avec les élèves.5. Est-ce que tu as écrit cet exercice dans ton cahier?
Answer» Remplace les mots soulignés par des pronoms : 1. J’ai mis les fleurs sur la table de mon professeur. 2. Tu prendras du pain et tu vas mettre le pain dans le sac. 3. Vous ne pouvez pas monter le Qutab Minar. 4. Je vais chez Paul avec les élèves. 5. Est-ce que tu as écrit cet exercice dans ton cahier?

Discussion

8.	Remplis par un mot du texte:1. Il a ................... à son baccalauréat.2. Quand j'ai pris sa photo, le crocodile ..................... un lapin.3. Il a mené une vie pleine d' ...................4. Le serpent a attaqué le rat et .................... il l'a avalé.5. Il ne peut plus .................... la jambe après l'accident.
Answer» Remplis par un mot du texte: 1. Il a ................... à son baccalauréat. 2. Quand j'ai pris sa photo, le crocodile ..................... un lapin. 3. Il a mené une vie pleine d' ................... 4. Le serpent a attaqué le rat et .................... il l'a avalé. 5. Il ne peut plus .................... la jambe après l'accident.

Discussion

9.	In your view, is it essential for the government to regulate the fee structure in education and health care institutions? If so, why?
Answer» In your view, is it essential for the government to regulate the fee structure in education and health care institutions? If so, why?

Discussion

10.	A consumer wants to consume two goods. The prices of the two goods are Rs 4 and Rs 5 respectively. The consumer’s income is Rs 20.(i) Write down the equation of the budget line.(ii) How much of good 1 can the consumer consume if she spends her entire income on that good?(iii) How much of good 2 can she consumed if she spends her entire income on that good?(iv) What is the slope of the budget line?Questions 5, 6 and 7 are related to question 4.
Answer» A consumer wants to consume two goods. The prices of the two goods are Rs 4 and Rs 5 respectively. The consumer’s income is Rs 20. (i) Write down the equation of the budget line. (ii) How much of good 1 can the consumer consume if she spends her entire income on that good? (iii) How much of good 2 can she consumed if she spends her entire income on that good? (iv) What is the slope of the budget line? Questions 5, 6 and 7 are related to question 4.

10.

A consumer wants to consume two goods. The prices of the two goods are Rs 4 and Rs 5 respectively. The consumer’s income is Rs 20.(i) Write down the equation of the budget line.(ii) How much of good 1 can the consumer consume if she spends her entire income on that good?(iii) How much of good 2 can she consumed if she spends her entire income on that good?(iv) What is the slope of the budget line?Questions 5, 6 and 7 are related to question 4.

Answer»

A consumer wants to consume two goods. The prices of the two goods are Rs 4 and Rs 5 respectively. The consumer’s income is Rs 20.

(i) Write down the equation of the budget line.

(ii) How much of good 1 can the consumer consume if she spends her entire income on that good?

(iii) How much of good 2 can she consumed if she spends her entire income on that good?

(iv) What is the slope of the budget line?

Questions 5, 6 and 7 are related to question 4.

Discussion

11.	7."A process is not quasi-static if it involves finite temperature difference betwee the system and the reservoir".what does this statement mean?
Answer» 7."A process is not quasi-static if it involves finite temperature difference betwee the system and the reservoir".what does this statement mean?

Discussion

12.	Explain how labour movement has helped company to fulfill its social responsibility.
Answer» Explain how labour movement has helped company to fulfill its social responsibility.

Discussion

13.	differentiate \sqrt{†an x} in dx/dy for
Answer» differentiate \sqrt{†an x} in dx/dy for

Discussion

14.	Suppose the demand and supply curve of commodity X in a perfectly competitive market are given by:qD = 700 − pqS = 500 + 3p for p ≥ 15 = 0 for 0 ≤ p <15Assume that the market consists of identical firms. Identify the reason behind the market supply of commodity X being zero at any price less than Rs 15. What will be the equilibrium price for this commodity? At equilibrium, what quantity of X will be produced?
Answer» Suppose the demand and supply curve of commodity X in a perfectly competitive market are given by: q^D = 700 − p q^S = 500 + 3p for p ≥ 15 = 0 for 0 ≤ p <15 Assume that the market consists of identical firms. Identify the reason behind the market supply of commodity X being zero at any price less than Rs 15. What will be the equilibrium price for this commodity? At equilibrium, what quantity of X will be produced?

14.

Suppose the demand and supply curve of commodity X in a perfectly competitive market are given by:qD = 700 − pqS = 500 + 3p for p ≥ 15 = 0 for 0 ≤ p <15Assume that the market consists of identical firms. Identify the reason behind the market supply of commodity X being zero at any price less than Rs 15. What will be the equilibrium price for this commodity? At equilibrium, what quantity of X will be produced?

Answer»

Suppose the demand and supply curve of commodity X in a perfectly competitive market are given by:

q^D = 700 − p

q^S = 500 + 3p for p ≥ 15

= 0 for 0 ≤ p <15

Assume that the market consists of identical firms. Identify the reason behind the market supply of commodity X being zero at any price less than Rs 15. What will be the equilibrium price for this commodity? At equilibrium, what quantity of X will be produced?

Discussion

15.	Study the following graph carefully and answer the questions that follow. Consumption of two metals in the given years by a company (in '000 tones) Q43. In which of the following years, the consumption of the two metals together was highest?
Answer» Study the following graph carefully and answer the questions that follow. Consumption of two metals in the given years by a company (in '000 tones) Q43. In which of the following years, the consumption of the two metals together was highest?

15.

Study the following graph carefully and answer the questions that follow. Consumption of two metals in the given years by a company (in '000 tones) Q43. In which of the following years, the consumption of the two metals together was highest?

Answer»

Study the following graph carefully and answer the questions that follow. Consumption of two metals in the given years by a company (in '000 tones)

Q43. In which of the following years, the consumption of the two metals together was highest?

Discussion

16.	Suppose the maximum market demand in a duopoly market is 60 and the cost of production is negligible. The equilibrium quantity supplied by each firm is equal to ___
Answer» Suppose the maximum market demand in a duopoly market is 60 and the cost of production is negligible. The equilibrium quantity supplied by each firm is equal to ___

Discussion

17.	Explain briefly any three determinants of the supply of a commodity.
Answer» Explain briefly any three determinants of the supply of a commodity.

Discussion

18.	Why are the firms said to be interdependent in an oligopoly market? Explain.
Answer» Why are the firms said to be interdependent in an oligopoly market? Explain.

Discussion

19.	Which of the following are assumptions about a perfectly competitive market structure?
Answer» Which of the following are assumptions about a perfectly competitive market structure?

Discussion

20.	If R=a2√bc4d and percentage error in measurement of a,b,c and d are 0.1%, 0.2%, 0.3% and 0.4% respectively,then the maximum percentage error in R is
Answer» If $R = \frac{a^{2} \sqrt{b}}{c^{4} d}$ and percentage error in measurement of a,b,c and d are 0.1%, 0.2%, 0.3% and 0.4% respectively,then the maximum percentage error in R is

Discussion

21.	Which part of the story did you find the funniest?
Answer» Which part of the story did you find the funniest?

Discussion

22.	A constant load of 300 MW is supplied by two 200 MW generators, for which incremental fuel costs are: dC1dPG1=0.10PG1+20.0;dC2dPG2=0.12PG2+15 [Where PG is in MW and C in Rs/hr] If the most economic division of load between the generators is X and Y MW, then saving in Rs/day obtained compared to equal load sharing is Rs, _____ per day. 218.16
Answer» A constant load of 300 MW is supplied by two 200 MW generators, for which incremental fuel costs are: $\frac{d C_{1}}{d P_{G 1}} = 0.10 P_{G 1} + 20.0; \frac{d C_{2}}{d P_{G 2}} = 0.12 P_{G 2} + 15$ [Where $P_{G}$ is in MW and C in Rs/hr] If the most economic division of load between the generators is X and Y MW, then saving in Rs/day obtained compared to equal load sharing is Rs, _____ per day. 218.16

Discussion

23.	When marginal utility is zero, total utility is: a. Zero b. Minimum c. Maximum d. Negative
Answer» When marginal utility is zero, total utility is: a. Zero b. Minimum c. Maximum d. Negative

23.

When marginal utility is zero, total utility is: a. Zero b. Minimum c. Maximum d. Negative

Answer»

When marginal utility is zero, total utility is:

a. Zero

b. Minimum

c. Maximum

d. Negative

Discussion

24.	At any level of output, the vertical distance between the TC curve and the TVC curve gives the
Answer» At any level of output, the vertical distance between the TC curve and the TVC curve gives the

Discussion

25.	When the price of the substitute goods rise then demand for a given commodity ___
Answer» When the price of the substitute goods rise then demand for a given commodity ___

Discussion

26.	The individual supply curves of two firms are q1=p−2, p≥3q2=12(p−3), p≥4 The market supply curve is given by
Answer» The individual supply curves of two firms are $q_{1} = p - 2, p \geq 3 q_{2} = \frac{1}{2} (p - 3), p \geq 4$ The market supply curve is given by

26.

The individual supply curves of two firms are q1=p−2, p≥3q2=12(p−3), p≥4 The market supply curve is given by

Answer»

The individual supply curves of two firms are
$q_{1} = p - 2, p \geq 3 q_{2} = \frac{1}{2} (p - 3), p \geq 4$

The market supply curve is given by

Discussion

27.	Economic relief is being provided to the industry and commerce sector in the form of special tax rates, exemptions, rebates, deductions, deferrals, credits etc. The objectives of this relief includes which of the following : Code:
Answer» Economic relief is being provided to the industry and commerce sector in the form of special tax rates, exemptions, rebates, deductions, deferrals, credits etc. The objectives of this relief includes which of the following : Code:

27.

Economic relief is being provided to the industry and commerce sector in the form of special tax rates, exemptions, rebates, deductions, deferrals, credits etc. The objectives of this relief includes which of the following : Code:

Answer»

Economic relief is being provided to the industry and commerce sector in the form of special tax rates, exemptions, rebates, deductions, deferrals, credits etc. The objectives of this relief includes which of the following :

Code:

Discussion

28.	find the maximum value of 1-sec power4a-2sec power2a
Answer» find the maximum value of 1-sec power4a-2sec power2a

Discussion

29.	Explain the difference between normal goods and inferior goods.
Answer» Explain the difference between normal goods and inferior goods.

Discussion

30.	Explain the concept of motivation.
Answer» Explain the concept of motivation.

Discussion

31.	The supply curve of Vidya can be represented by the equation p=0.01q−3, p≥12 . The marginal cost of producing the 1500th unit for Vidya is Rs ___
Answer» The supply curve of Vidya can be represented by the equation $p = 0.01 q - 3, p \geq 12$ . The marginal cost of producing the 1500th unit for Vidya is Rs ___

Discussion

32.	Build up arguments for and against social responsibilites.
Answer» Build up arguments for and against social responsibilites.

Discussion

33.	Change the following sentences into the feminine form.1. Il est italien; il est grand.2. Nous sommes gros et petits.3. Je suis français; je suis beau.4. Ils sont japonais; ils sont mauvais.5. Tu es petit et bon.
Answer» Change the following sentences into the feminine form. 1. Il est italien; il est grand. 2. Nous sommes gros et petits. 3. Je suis français; je suis beau. 4. Ils sont japonais; ils sont mauvais. 5. Tu es petit et bon.

Discussion

34.	What is consumer’s equilbrium? Explain the conditions of consumer’s equilibrium assuming that the consumer consumes only two goods. OR Distinguish between an inferior good and a normal good. Explain the effect of change in income on each giving suitable examples.
Answer» What is consumer’s equilbrium? Explain the conditions of consumer’s equilibrium assuming that the consumer consumes only two goods. OR Distinguish between an inferior good and a normal good. Explain the effect of change in income on each giving suitable examples.

34.

What is consumer’s equilbrium? Explain the conditions of consumer’s equilibrium assuming that the consumer consumes only two goods. OR Distinguish between an inferior good and a normal good. Explain the effect of change in income on each giving suitable examples.

Answer»

What is consumer’s equilbrium? Explain the conditions of consumer’s equilibrium assuming that the consumer consumes only two goods.

OR

Distinguish between an inferior good and a normal good. Explain the effect of change in income on each giving suitable examples.

Discussion

35.	As a monopolist increases the price of a good, what happens to the total revenue (TR)?
Answer» As a monopolist increases the price of a good, what happens to the total revenue (TR)?

Discussion

36.	What were the troubles of government enterprises?
Answer» What were the troubles of government enterprises?

Discussion

37.	A firm's revenue rises from Rs. 400 to Rs. 500 when the price of its products rises from Rs. 20 per unit to Rs. 25 per unit. Calculate the price elasticity of supply.
Answer» A firm's revenue rises from Rs. 400 to Rs. 500 when the price of its products rises from Rs. 20 per unit to Rs. 25 per unit. Calculate the price elasticity of supply.

Discussion

38.	___ is the period of time in which all the factors of production are variable.
Answer» ___ is the period of time in which all the factors of production are variable.

Discussion

39.	Explainhow price is determined in a perfectly competitive market with fixednumber of firms.
Answer» Explain how price is determined in a perfectly competitive market with fixed number of firms.

Discussion

40.	Why, despite the implementation of green revolution, 65 per cent of our population continued to be engaged in the agriculture sector till 1990?
Answer» Why, despite the implementation of green revolution, 65 per cent of our population continued to be engaged in the agriculture sector till 1990?

Discussion

41.	The profit level that is just enough to cover the economic costs of the firm is called ___ profit.
Answer» The profit level that is just enough to cover the economic costs of the firm is called ___ profit.

Discussion

42.	What is 'PPP' short for?
Answer» What is 'PPP' short for?

Discussion

43.	How many countries are members of the WTO?
Answer» How many countries are members of the WTO?

Discussion

44.	Écrivez en français.1. Thank you very much!2. Please (formal)3. Hello!4. Enjoy your meal!
Answer» Écrivez en français. 1. Thank you very much! 2. Please (formal) 3. Hello! 4. Enjoy your meal!

Discussion

45.	In the system whose signal flow graph is shown in figure. U1(s) and U2(s) are inputs. the transfer function Y(s)/U1(s) is
Answer» In the system whose signal flow graph is shown in figure. $U_{1} (s)$ and $U_{2} (s)$ are inputs. the transfer function $Y (s) / U_{1} (s)$ is

Discussion

46.	Following are institutional sources of agricultural credit except:
Answer» Following are institutional sources of agricultural credit except:

Discussion

47.	Write three differences between manures and fertilisers?
Answer» Write three differences between manures and fertilisers?

Discussion

48.	What is maximum price ceiling? Explain the implications.
Answer» What is maximum price ceiling? Explain the implications.

Discussion

49.	Distinguishbetween a centrally planned economy and a market economy.
Answer» Distinguish between a centrally planned economy and a market economy.

Discussion

50.	Complete the following table: Output unitsAverage fixed cost (Rs)Marginal cost (Rs)Average variable cost (Rs)Average cost (Rs)16020−−2−−19−320−18−4−18−−512−−31 OR State whether the following statements are true or false. Give reasons for your answer: a. Under diminishing returns to a factor marginal product and total product both increase at a diminishing rate. b. When marginal cost rises, average cost also rises. c. Marginal revenue can never be negative.
Answer» Complete the following table: $\begin{matrix} Output units & Average fixed cost (Rs) & Marginal cost (Rs) & Average variable cost (Rs) & Average cost (Rs) 1 & 60 & 20 & - & - 2 & - & - & 19 & - 3 & 20 & - & 18 & - 4 & - & 18 & - & - 5 & 12 & - & - & 31 \end{matrix}$ OR State whether the following statements are true or false. Give reasons for your answer: a. Under diminishing returns to a factor marginal product and total product both increase at a diminishing rate. b. When marginal cost rises, average cost also rises. c. Marginal revenue can never be negative.

50.

Complete the following table: Output unitsAverage fixed cost (Rs)Marginal cost (Rs)Average variable cost (Rs)Average cost (Rs)16020−−2−−19−320−18−4−18−−512−−31 OR State whether the following statements are true or false. Give reasons for your answer: a. Under diminishing returns to a factor marginal product and total product both increase at a diminishing rate. b. When marginal cost rises, average cost also rises. c. Marginal revenue can never be negative.

Answer»

Complete the following table:

$\begin{matrix} Output units & Average fixed cost (Rs) & Marginal cost (Rs) & Average variable cost (Rs) & Average cost (Rs) 1 & 60 & 20 & - & - 2 & - & - & 19 & - 3 & 20 & - & 18 & - 4 & - & 18 & - & - 5 & 12 & - & - & 31 \end{matrix}$

OR

State whether the following statements are true or false. Give reasons for your answer: a. Under diminishing returns to a factor marginal product and total product both increase at a diminishing rate. b. When marginal cost rises, average cost also rises. c. Marginal revenue can never be negative.

Discussion

Explore topic-wise InterviewSolutions in .

Which of the following will not decrease the demand for a normal good?

Supposethere are 20 consumers for a good and they have identical demandfunctions:D(p)= 10 − 3pfor any price less than or equal to and d1(p)= 0 at any price greater than .Whatis the market demand function?

Monopolistic competition occurs when which of the assumptions about a perfectly competitive market is broken?

‘To avoid government regulation, businessmen follow the concept of social responsibility’. Is this statement true?

Which one of the following roles is not characteristic of an essential element?

Which of these sectors did the first plan focus on?

In your view, is it essential for the government to regulate the fee structure in education and health care institutions? If so, why?

7."A process is not quasi-static if it involves finite temperature difference betwee the system and the reservoir".what does this statement mean?

Explain how labour movement has helped company to fulfill its social responsibility.

differentiate \sqrt{†an x} in dx/dy for

Study the following graph carefully and answer the questions that follow. Consumption of two metals in the given years by a company (in '000 tones) Q43. In which of the following years, the consumption of the two metals together was highest?

Suppose the maximum market demand in a duopoly market is 60 and the cost of production is negligible. The equilibrium quantity supplied by each firm is equal to ___

Explain briefly any three determinants of the supply of a commodity.

Why are the firms said to be interdependent in an oligopoly market? Explain.

Which of the following are assumptions about a perfectly competitive market structure?

If R=a2√bc4d and percentage error in measurement of a,b,c and d are 0.1%, 0.2%, 0.3% and 0.4% respectively,then the maximum percentage error in R is

Which part of the story did you find the funniest?

When marginal utility is zero, total utility is: a. Zero b. Minimum c. Maximum d. Negative

At any level of output, the vertical distance between the TC curve and the TVC curve gives the

When the price of the substitute goods rise then demand for a given commodity ___

The individual supply curves of two firms are q1=p−2, p≥3q2=12(p−3), p≥4 The market supply curve is given by

Economic relief is being provided to the industry and commerce sector in the form of special tax rates, exemptions, rebates, deductions, deferrals, credits etc. The objectives of this relief includes which of the following : Code:

find the maximum value of 1-sec power4a-2sec power2a

Explain the difference between normal goods and inferior goods.

Explain the concept of motivation.

The supply curve of Vidya can be represented by the equation p=0.01q−3, p≥12 . The marginal cost of producing the 1500th unit for Vidya is Rs ___

Build up arguments for and against social responsibilites.

Change the following sentences into the feminine form.1. Il est italien; il est grand.2. Nous sommes gros et petits.3. Je suis français; je suis beau.4. Ils sont japonais; ils sont mauvais.5. Tu es petit et bon.

What is consumer’s equilbrium? Explain the conditions of consumer’s equilibrium assuming that the consumer consumes only two goods. OR Distinguish between an inferior good and a normal good. Explain the effect of change in income on each giving suitable examples.

As a monopolist increases the price of a good, what happens to the total revenue (TR)?

What were the troubles of government enterprises?

A firm's revenue rises from Rs. 400 to Rs. 500 when the price of its products rises from Rs. 20 per unit to Rs. 25 per unit. Calculate the price elasticity of supply.

___ is the period of time in which all the factors of production are variable.

Explainhow price is determined in a perfectly competitive market with fixednumber of firms.

Why, despite the implementation of green revolution, 65 per cent of our population continued to be engaged in the agriculture sector till 1990?

The profit level that is just enough to cover the economic costs of the firm is called ___ profit.

What is 'PPP' short for?

How many countries are members of the WTO?

Écrivez en français.1. Thank you very much!2. Please (formal)3. Hello!4. Enjoy your meal!

In the system whose signal flow graph is shown in figure. U1(s) and U2(s) are inputs. the transfer function Y(s)/U1(s) is

Following are institutional sources of agricultural credit except:

Write three differences between manures and fertilisers?

What is maximum price ceiling? Explain the implications.

Distinguishbetween a centrally planned economy and a market economy.