1868 + Interview Questions in Economics Page 28 InterviewSolution

1351.	Those who adopt the inflation theory to explain the Soviet economic mystery feel that
Answer» Those who adopt the inflation theory to explain the Soviet economic mystery feel that

Discussion

1352.	When did the Russian Revolution take place?
Answer» When did the Russian Revolution take place?

Discussion

1353.	dummy The transformation of resources into economic goods and series is called:
Answer» dummy The transformation of resources into economic goods and series is called:

Discussion

1354.	Discuss the responsibility of business towards different stake holders.
Answer» Discuss the responsibility of business towards different stake holders.

Discussion

1355.	If the demand for a commodity increases and the supply decreases, what will be the effect on equilibrium price and quantity? Illustrate with diagrams.
Answer» If the demand for a commodity increases and the supply decreases, what will be the effect on equilibrium price and quantity? Illustrate with diagrams.

Discussion

1356.	State whether true or false, and explain. "If average product is increasing, marginal product must be less than the average product."
Answer» State whether true or false, and explain. "If average product is increasing, marginal product must be less than the average product."

1356.

State whether true or false, and explain. "If average product is increasing, marginal product must be less than the average product."

Answer»

State whether true or false, and explain.

"If average product is increasing, marginal product must be less than the average product."

Discussion

1357.	What were the geographical and demographic factors that stunted the economic growth of South America compared to the USA?
Answer» What were the geographical and demographic factors that stunted the economic growth of South America compared to the USA?

Discussion

1358.	Explain the significance of 'minus sign' attached to the measure of price elasticity of demand in case of a normal good, as compared to the 'plus sign' attached to the measure of price elasticity of supply.
Answer» Explain the significance of 'minus sign' attached to the measure of price elasticity of demand in case of a normal good, as compared to the 'plus sign' attached to the measure of price elasticity of supply.

Discussion

1359.	What do you mean by complements? Give examples of two goods which are complements of each other.
Answer» What do you mean by complements? Give examples of two goods which are complements of each other.

Discussion

1360.	When only 1 unit of the commodity is consumed:
Answer» When only 1 unit of the commodity is consumed:

Discussion

1361.	Compare business with profession and employment.
Answer» Compare business with profession and employment.

Discussion

1362.	Which of the following were impacts of the Green Revolution?
Answer» Which of the following were impacts of the Green Revolution?

Discussion

1363.	What will happen if the price prevailing in the market is (i) above the equilibrium price? (ii) below the equilibrium price?
Answer» What will happen if the price prevailing in the market is (i) above the equilibrium price? (ii) below the equilibrium price?

Discussion

1364.	Which countries were the major importers in the pre-industrial times?
Answer» Which countries were the major importers in the pre-industrial times?

Discussion

1365.	Rural development implies:
Answer» Rural development implies:

Discussion

1366.	A consumer buys 10 units of a good at a price of Rs. 6 per unit. Price elasticity of demand is (−)1. At what price will he buy 12 units? Use expenditure approach of price elasticity of demand to answer this question.
Answer» A consumer buys $10$ units of a good at a price of $R s . 6$ per unit. Price elasticity of demand is $(-) 1$ . At what price will he buy $12$ units? Use expenditure approach of price elasticity of demand to answer this question.

Discussion

1367.	What is the 'collateral' demand that lenders often make against loans?
Answer» What is the 'collateral' demand that lenders often make against loans?

Discussion

1368.	The main investments of Britain in Indian were in which of these fields?
Answer» The main investments of Britain in Indian were in which of these fields?

Discussion

1369.	The short-run supply curve of a firm is ______
Answer» The short-run supply curve of a firm is ______

Discussion

1370.	In the above supply and demand curve, no Maggies will be supplied unless the price is above
Answer» In the above supply and demand curve, no Maggies will be supplied unless the price is above

Discussion

1371.	When strain is produced in a body within elastic limit, its internal energy
Answer» When strain is produced in a body within elastic limit, its internal energy

Discussion

1372.	Which of the following points is the shutdown point?
Answer» Which of the following points is the shutdown point?

Discussion

1373.	Draw average total cost, average variable cost, and marginal cost curves in a single diagram. Also, explain the relationship between ATC and AVC. OR Explain the relation between (i) ATC and AVC and (ii) MC and AVC.
Answer» Draw average total cost, average variable cost, and marginal cost curves in a single diagram. Also, explain the relationship between ATC and AVC. OR Explain the relation between (i) ATC and AVC and (ii) MC and AVC.

1373.

Draw average total cost, average variable cost, and marginal cost curves in a single diagram. Also, explain the relationship between ATC and AVC. OR Explain the relation between (i) ATC and AVC and (ii) MC and AVC.

Answer»

Draw average total cost, average variable cost, and marginal cost curves in a single diagram. Also, explain the relationship between ATC and AVC.

OR

Explain the relation between (i) ATC and AVC and (ii) MC and AVC.

Discussion

1374.	Which of the following play a part in creating a strong national market?
Answer» Which of the following play a part in creating a strong national market?

Discussion

1375.	In many sectors like national railway or electricity distribution, natural monopolies are beneficial because _________.
Answer» In many sectors like national railway or electricity distribution, natural monopolies are beneficial because _________.

Discussion

1376.	The largest ___ for the carpet industry has been and is the hospitality industry and the last ___ interface, that of salesman and buyer, has finally ___ worldwide.
Answer» The largest ___ for the carpet industry has been and is the hospitality industry and the last ___ interface, that of salesman and buyer, has finally ___ worldwide.

Discussion

1377.	What is invisible trade? Discuss salient aspects of India's trade in services.
Answer» What is invisible trade? Discuss salient aspects of India's trade in services.

Discussion

1378.	Daniel cell helps to convert
Answer» Daniel cell helps to convert

Discussion

1379.	State any one assumption for the construction of the curve that shows the possibilities of potential production of two goods in an economy.
Answer» State any one assumption for the construction of the curve that shows the possibilities of potential production of two goods in an economy.

Discussion

1380.	Nike has outsourced the manufacture of its products to plants in other countries and faced a lot of criticism for operating in low-wage countries where child abuse is common write any 2 moral values the company ignored. Discuss any four social responsibilities that Nike should consider towards employees and society.
Answer» Nike has outsourced the manufacture of its products to plants in other countries and faced a lot of criticism for operating in low-wage countries where child abuse is common write any 2 moral values the company ignored. Discuss any four social responsibilities that Nike should consider towards employees and society.

Discussion

1381.	What do you think about the following questions. Do you find any problem with these questions? If yes, how? (i) How far do you live from the closest market? (ii) If plastic bags are only 5 per cent of our garbage, should it be banned? (iii) Wouldn't you be opposed to increase in price of petrol? (iv) (a) Do you agree with the use of chemical fertilizers? (b) Do you use fertilizers in your fields? (c) What is the yield per hectare in your field?
Answer» What do you think about the following questions. Do you find any problem with these questions? If yes, how? (i) How far do you live from the closest market? (ii) If plastic bags are only 5 per cent of our garbage, should it be banned? (iii) Wouldn't you be opposed to increase in price of petrol? (iv) (a) Do you agree with the use of chemical fertilizers? (b) Do you use fertilizers in your fields? (c) What is the yield per hectare in your field?

1381.

What do you think about the following questions. Do you find any problem with these questions? If yes, how? (i) How far do you live from the closest market? (ii) If plastic bags are only 5 per cent of our garbage, should it be banned? (iii) Wouldn't you be opposed to increase in price of petrol? (iv) (a) Do you agree with the use of chemical fertilizers? (b) Do you use fertilizers in your fields? (c) What is the yield per hectare in your field?

Answer»

What do you think about the following questions. Do you find any problem with these questions? If yes, how?

(i) How far do you live from the closest market?

(ii) If plastic bags are only 5 per cent of our garbage, should it be banned?

(iii) Wouldn't you be opposed to increase in price of petrol?

(iv) (a) Do you agree with the use of chemical fertilizers?

(b) Do you use fertilizers in your fields?

(c) What is the yield per hectare in your field?

Discussion

1382.	Which of the following is a logical statement?
Answer» Which of the following is a logical statement?

Discussion

1383.	The price of goods changes from 10 to 20 and the quantity supplied changes from 100 to 150. What is the elasticity of supply?
Answer» The price of goods changes from 10 to 20 and the quantity supplied changes from 100 to 150. What is the elasticity of supply?

1383.

The price of goods changes from 10 to 20 and the quantity supplied changes from 100 to 150. What is the elasticity of supply?

Answer»

The price of goods changes from 10 to 20 and the quantity supplied changes from 100 to 150. What is the elasticity of supply?

Discussion

1384.	The income elasticity is +2 and income increases by 20%. Sales were 5000 units, what will they be now?
Answer» The income elasticity is +2 and income increases by 20%. Sales were 5000 units, what will they be now?

Discussion

1385.	The output elasticity of labor is
Answer» The output elasticity of labor is

Discussion

1386.	State the law of diminishing marginal utility.
Answer» State the law of diminishing marginal utility.

Discussion

1387.	What makes it possible to exercise partial control over price? Why is full control over price not possible?
Answer» What makes it possible to exercise partial control over price? Why is full control over price not possible?

Discussion

1388.	Demand for electricity has "increased". However supply cannot be increased due to lack of resources. Explain how, in any two ways how demand for electricity can be "decreased".
Answer» Demand for electricity has "increased". However supply cannot be increased due to lack of resources. Explain how, in any two ways how demand for electricity can be "decreased".

Discussion

1389.	Explain the relationship between marginal cost and average variable cost.
Answer» Explain the relationship between marginal cost and average variable cost.

Discussion

1390.	A 10% increase in the price of a good causes a 10% decrease in quantity supplied. The supply curve is a _______.
Answer» A 10% increase in the price of a good causes a 10% decrease in quantity supplied. The supply curve is a _______.

Discussion

1391.	Name six determinants of market demand.
Answer» Name six determinants of market demand.

Discussion

1392.	Which of the following diseases has been completely eradicated?
Answer» Which of the following diseases has been completely eradicated?

Discussion

1393.	If the price elasticity of demand is unit, then a fall in price:
Answer» If the price elasticity of demand is unit, then a fall in price:

Discussion

1394.	Anthropogenic effects are "human-caused" such as
Answer» Anthropogenic effects are "human-caused" such as

Discussion

1395.	Solar energy is a ________ source of energy.
Answer» Solar energy is a ________ source of energy.

Discussion

1396.	Explain the term change in demand. Also, explain three factors responsible for change in demand.
Answer» Explain the term change in demand. Also, explain three factors responsible for change in demand.

Discussion

1397.	What is the relation between market price and average revenue of a price-taking firm?
Answer» What is the relation between market price and average revenue of a price-taking firm?

Discussion

1398.	Human capital increases:
Answer» Human capital increases:

Discussion

1399.	Which economic activity is the base of all production activities?
Answer» Which economic activity is the base of all production activities?

Discussion

1400.	What type of relationship exists between the price and quantity supplied?
Answer» What type of relationship exists between the price and quantity supplied?

Discussion

Explore topic-wise InterviewSolutions in .

Those who adopt the inflation theory to explain the Soviet economic mystery feel that

When did the Russian Revolution take place?

dummy The transformation of resources into economic goods and series is called:

Discuss the responsibility of business towards different stake holders.

If the demand for a commodity increases and the supply decreases, what will be the effect on equilibrium price and quantity? Illustrate with diagrams.

State whether true or false, and explain. "If average product is increasing, marginal product must be less than the average product."

What were the geographical and demographic factors that stunted the economic growth of South America compared to the USA?

Explain the significance of 'minus sign' attached to the measure of price elasticity of demand in case of a normal good, as compared to the 'plus sign' attached to the measure of price elasticity of supply.

What do you mean by complements? Give examples of two goods which are complements of each other.

When only 1 unit of the commodity is consumed:

Compare business with profession and employment.

Which of the following were impacts of the Green Revolution?

What will happen if the price prevailing in the market is (i) above the equilibrium price? (ii) below the equilibrium price?

Which countries were the major importers in the pre-industrial times?

Rural development implies:

A consumer buys 10 units of a good at a price of Rs. 6 per unit. Price elasticity of demand is (−)1. At what price will he buy 12 units? Use expenditure approach of price elasticity of demand to answer this question.

What is the 'collateral' demand that lenders often make against loans?

The main investments of Britain in Indian were in which of these fields?

The short-run supply curve of a firm is ______

In the above supply and demand curve, no Maggies will be supplied unless the price is above

When strain is produced in a body within elastic limit, its internal energy

Which of the following points is the shutdown point?

Draw average total cost, average variable cost, and marginal cost curves in a single diagram. Also, explain the relationship between ATC and AVC. OR Explain the relation between (i) ATC and AVC and (ii) MC and AVC.

Which of the following play a part in creating a strong national market?

In many sectors like national railway or electricity distribution, natural monopolies are beneficial because _________.

The largest ___ for the carpet industry has been and is the hospitality industry and the last ___ interface, that of salesman and buyer, has finally ___ worldwide.

What is invisible trade? Discuss salient aspects of India's trade in services.

Daniel cell helps to convert

State any one assumption for the construction of the curve that shows the possibilities of potential production of two goods in an economy.

Which of the following is a logical statement?

The price of goods changes from 10 to 20 and the quantity supplied changes from 100 to 150. What is the elasticity of supply?

The income elasticity is +2 and income increases by 20%. Sales were 5000 units, what will they be now?

The output elasticity of labor is

State the law of diminishing marginal utility.

What makes it possible to exercise partial control over price? Why is full control over price not possible?

Demand for electricity has "increased". However supply cannot be increased due to lack of resources. Explain how, in any two ways how demand for electricity can be "decreased".

Explain the relationship between marginal cost and average variable cost.

A 10% increase in the price of a good causes a 10% decrease in quantity supplied. The supply curve is a _______.

Name six determinants of market demand.

Which of the following diseases has been completely eradicated?

If the price elasticity of demand is unit, then a fall in price:

Anthropogenic effects are "human-caused" such as

Solar energy is a ________ source of energy.

Explain the term change in demand. Also, explain three factors responsible for change in demand.

What is the relation between market price and average revenue of a price-taking firm?

Human capital increases:

Which economic activity is the base of all production activities?

What type of relationship exists between the price and quantity supplied?

The largest _ for the carpet industry has been and is the hospitality industry and the last _ interface, that of salesman and buyer, has finally ___ worldwide.