1868 + Interview Questions in Economics Page 33 InterviewSolution

1601.	Study the following demand schedule and answer the following question. Price (Rs)Quantity11010100920083007400650056004700 At what price does MR become negative for the first time?
Answer» Study the following demand schedule and answer the following question. $\begin{matrix} P r i c e (R s) & Q u a n t i t y 11 & 0 10 & 100 9 & 200 8 & 300 7 & 400 6 & 500 5 & 600 4 & 700 \end{matrix}$ At what price does MR become negative for the first time?

1601.

Study the following demand schedule and answer the following question. Price (Rs)Quantity11010100920083007400650056004700 At what price does MR become negative for the first time?

Answer»

Study the following demand schedule and answer the following question.

$\begin{matrix} P r i c e (R s) & Q u a n t i t y 11 & 0 10 & 100 9 & 200 8 & 300 7 & 400 6 & 500 5 & 600 4 & 700 \end{matrix}$

At what price does MR become negative for the first time?

Discussion

1602.	Consider a hypothetical demand and supply schedule of a commodity as given below: Price of Z(Rs.)246810Qd(in kg)10080604020Qs(in kg)20406080100 Draw a diagram, and find the equilibrium price and equilibrium quantity.
Answer» Consider a hypothetical demand and supply schedule of a commodity as given below: $\begin{matrix} P r i c e o f Z (R s .) & 2 & 4 & 6 & 8 & 10 Q d (i n k g) & 100 & 80 & 60 & 40 & 20 Q s (i n k g) & 20 & 40 & 60 & 80 & 100 \end{matrix}$ Draw a diagram, and find the equilibrium price and equilibrium quantity.

Discussion

1603.	The demand schedule for a firm is shown below Price (Rs)Quantity71006200530044003500 What is the revenue maximizing level of output?
Answer» The demand schedule for a firm is shown below $\begin{matrix} P r i c e (R s) & Q u a n t i t y 7 & 100 6 & 200 5 & 300 4 & 400 3 & 500 \end{matrix}$ What is the revenue maximizing level of output?

1603.

The demand schedule for a firm is shown below Price (Rs)Quantity71006200530044003500 What is the revenue maximizing level of output?

Answer»

The demand schedule for a firm is shown below

$\begin{matrix} P r i c e (R s) & Q u a n t i t y 7 & 100 6 & 200 5 & 300 4 & 400 3 & 500 \end{matrix}$

What is the revenue maximizing level of output?

Discussion

1604.	The market price of a good changes from Rs. 5 to Rs. 20. As a result, the quantity supplied by a firm increases by 15 units. The price elasticity of the firm's supply curve is 0.5. Find the initial and final output levels of the firm.
Answer» The market price of a good changes from Rs. 5 to Rs. 20. As a result, the quantity supplied by a firm increases by 15 units. The price elasticity of the firm's supply curve is 0.5. Find the initial and final output levels of the firm.

Discussion

1605.	Explain in detail the warehousing services.
Answer» Explain in detail the warehousing services.

Discussion

1606.	When was the first FYP launched?
Answer» When was the first FYP launched?

Discussion

1607.	At the point of inflexion:
Answer» At the point of inflexion:

Discussion

1608.	Which of the following is false regarding SHG’s
Answer» Which of the following is false regarding SHG’s

Discussion

1609.	Market demand is aggregation of individual demand
Answer» Market demand is aggregation of individual demand

Discussion

1610.	Which of the following is/are correct?
Answer» Which of the following is/are correct?

Discussion

1611.	The SMC curve cuts the AVC curve ___
Answer» The SMC curve cuts the AVC curve ___

Discussion

1612.	Consider the following statements about Central Adoption Resource Authority: Which of the above statements is/are correct?
Answer» Consider the following statements about Central Adoption Resource Authority: Which of the above statements is/are correct?

Discussion

1613.	Which of the following are manifestations of colonialism?
Answer» Which of the following are manifestations of colonialism?

Discussion

1614.	Distinguish between "Microeconomics" and "Macroeconomics".
Answer» Distinguish between "Microeconomics" and "Macroeconomics".

Discussion

1615.	Economic problem arises due to the fact that
Answer» Economic problem arises due to the fact that

Discussion

1616.	Which of the following curves shows the different quantities of a good that one particular consumer is willing to buy at different possible prices of the good at a point of time?
Answer» Which of the following curves shows the different quantities of a good that one particular consumer is willing to buy at different possible prices of the good at a point of time?

Discussion

1617.	Explain 'Black marketing' as a direct consequence of price celing OR Explain the concept of buffer stock as a tool of price floor.
Answer» Explain 'Black marketing' as a direct consequence of price celing OR Explain the concept of buffer stock as a tool of price floor.

Discussion

1618.	Explain the role of small business in rural India.
Answer» Explain the role of small business in rural India.

Discussion

1619.	Statement: Should all the government owned educational institutions be given to private sector Arguments: I. Yes, there will be upgradation of educational standard in these institutions. II. Yes, the educational standard of these institutions will decrease.
Answer» Statement: Should all the government owned educational institutions be given to private sector Arguments: I. Yes, there will be upgradation of educational standard in these institutions. II. Yes, the educational standard of these institutions will decrease.

1619.

Statement: Should all the government owned educational institutions be given to private sector Arguments: I. Yes, there will be upgradation of educational standard in these institutions. II. Yes, the educational standard of these institutions will decrease.

Answer»

Statement: Should all the government owned educational institutions be given to private sector

Arguments:

I. Yes, there will be upgradation of educational standard in these institutions.

II. Yes, the educational standard of these institutions will decrease.

Discussion

1620.	Statement: Should young entrepreneur be encouraged? Arguments: I. Yes, they will help in the industrial development of the country. II. Yes, they will reduce the burden on the employment market.
Answer» Statement: Should young entrepreneur be encouraged? Arguments: I. Yes, they will help in the industrial development of the country. II. Yes, they will reduce the burden on the employment market.

1620.

Statement: Should young entrepreneur be encouraged? Arguments: I. Yes, they will help in the industrial development of the country. II. Yes, they will reduce the burden on the employment market.

Answer»

Statement: Should young entrepreneur be encouraged?

Arguments:

I. Yes, they will help in the industrial development of the country.

II. Yes, they will reduce the burden on the employment market.

Discussion

1621.	The supply curve is upward sloping because __________.
Answer» The supply curve is upward sloping because __________.

Discussion

1622.	Q24. Consider the following statements about Credit Crunch: 1. An economic situation where banks and other financial institutions become extremely reluctant to provide loans to businesses. 2. An economic crisis where countries are not able to get funding from World Bank. 3. It also known as credit squeeze. Which of the above statements are correct?
Answer» Q24. Consider the following statements about Credit Crunch: 1. An economic situation where banks and other financial institutions become extremely reluctant to provide loans to businesses. 2. An economic crisis where countries are not able to get funding from World Bank. 3. It also known as credit squeeze. Which of the above statements are correct?

1622.

Q24. Consider the following statements about Credit Crunch: 1. An economic situation where banks and other financial institutions become extremely reluctant to provide loans to businesses. 2. An economic crisis where countries are not able to get funding from World Bank. 3. It also known as credit squeeze. Which of the above statements are correct?

Answer»

Q24. Consider the following statements about Credit Crunch:

1. An economic situation where banks and other financial institutions become extremely reluctant to provide loans to businesses.

2. An economic crisis where countries are not able to get funding from World Bank.

3. It also known as credit squeeze.

Which of the above statements are correct?

Discussion

1623.	The market price of a good changes from Rs 5 to Rs 20. As a result, the quantity supplied by a firm increases by 15 units. The price elasticity of the firm’s supply curve is 0.5. Find the final output levels of the firm.
Answer» The market price of a good changes from Rs 5 to Rs 20. As a result, the quantity supplied by a firm increases by 15 units. The price elasticity of the firm’s supply curve is 0.5. Find the final output levels of the firm.

Discussion

1624.	When a new seller enters the market, quantity supplied at a given price ________
Answer» When a new seller enters the market, quantity supplied at a given price ________

Discussion

1625.	State the behavior of Total Variable Cost. Draw Total Variable Cost, Total Cost and Total Fixed Cost curves in a single diagram Or State the behavior of Total Variable Cost. Prepare a Schedule showing Total Variable Cost and Total Cost.
Answer» State the behavior of Total Variable Cost. Draw Total Variable Cost, Total Cost and Total Fixed Cost curves in a single diagram Or State the behavior of Total Variable Cost. Prepare a Schedule showing Total Variable Cost and Total Cost.

1625.

State the behavior of Total Variable Cost. Draw Total Variable Cost, Total Cost and Total Fixed Cost curves in a single diagram Or State the behavior of Total Variable Cost. Prepare a Schedule showing Total Variable Cost and Total Cost.

Answer»

State the behavior of Total Variable Cost. Draw Total Variable Cost, Total Cost and Total Fixed Cost curves in a single diagram

Or

State the behavior of Total Variable Cost. Prepare a Schedule showing Total Variable Cost and Total Cost.

Discussion

1626.	Reforms that are related to the revenue and expenditure of the government are:
Answer» Reforms that are related to the revenue and expenditure of the government are:

Discussion

1627.	Briefly discuss the problems faced by small scale industries.
Answer» Briefly discuss the problems faced by small scale industries.

Discussion

1628.	Some restaurants are closed during some parts of the day because
Answer» Some restaurants are closed during some parts of the day because

Discussion

1629.	A firm supplied 500 units of a commodity at a price of Rs. 5 per unit. The price elasticity of supply is 3. At what price will the firm supply 700 units?
Answer» A firm supplied 500 units of a commodity at a price of Rs. 5 per unit. The price elasticity of supply is 3. At what price will the firm supply 700 units?

Discussion

1630.	Assumptions of the law of demand refer to:
Answer» Assumptions of the law of demand refer to:

Discussion

1631.	Vinod has the following transactions. Show accounting equation for the same: (i) Commenced business with cash Rs.80,000. (ii) Paid rent in advance Rs.1,000. (iii) Purchased goods for cash Rs.30,000 and credit Rs.20,000. (iv) Sold goods costing Rs.20,000 for Rs.30,000. (v) Paid Salary Rs.800 and Salary outstanding Rs.200.
Answer» Vinod has the following transactions. Show accounting equation for the same: (i) Commenced business with cash Rs.80,000. (ii) Paid rent in advance Rs.1,000. (iii) Purchased goods for cash Rs.30,000 and credit Rs.20,000. (iv) Sold goods costing Rs.20,000 for Rs.30,000. (v) Paid Salary Rs.800 and Salary outstanding Rs.200.

1631.

Vinod has the following transactions. Show accounting equation for the same: (i) Commenced business with cash Rs.80,000. (ii) Paid rent in advance Rs.1,000. (iii) Purchased goods for cash Rs.30,000 and credit Rs.20,000. (iv) Sold goods costing Rs.20,000 for Rs.30,000. (v) Paid Salary Rs.800 and Salary outstanding Rs.200.

Answer»

Vinod has the following transactions. Show accounting equation for the same:

(i) Commenced business with cash Rs.80,000.

(ii) Paid rent in advance Rs.1,000.

(iii) Purchased goods for cash Rs.30,000 and credit Rs.20,000.

(iv) Sold goods costing Rs.20,000 for Rs.30,000.

(v) Paid Salary Rs.800 and Salary outstanding Rs.200.

Discussion

1632.	The transformation of resources into economic goods and services is called:
Answer» The transformation of resources into economic goods and services is called:

Discussion

1633.	Before industrialisation, cotton textiles were much more expensive in Britain than in India and China. Why?
Answer» Before industrialisation, cotton textiles were much more expensive in Britain than in India and China. Why?

Discussion

1634.	Enlist any four main features of chain stores.
Answer» Enlist any four main features of chain stores.

Discussion

1635.	The Industrial Development and Regulation Act of 1951 has certain objectives. Which of the following objective is true?
Answer» The Industrial Development and Regulation Act of 1951 has certain objectives. Which of the following objective is true?

Discussion

1636.	The "Father of Green Revolution" is:
Answer» The "Father of Green Revolution" is:

Discussion

1637.	The movement started by National Literacy Mission is:
Answer» The movement started by National Literacy Mission is:

Discussion

1638.	Which public department is responsible for road construction?
Answer» Which public department is responsible for road construction?

Discussion

1639.	Identify the industry/industries which were under the public sector during the colonial period.
Answer» Identify the industry/industries which were under the public sector during the colonial period.

Discussion

1640.	"Scarcity is the root of all economic problems." Explain.
Answer» "Scarcity is the root of all economic problems." Explain.

Discussion

1641.	Explain the concept of 'secret reserve'.
Answer» Explain the concept of 'secret reserve'.

Discussion

1642.	Which best describes consumer surplus?
Answer» Which best describes consumer surplus?

Discussion

1643.	There are three sellers A, B and C in a market. Their supply curves are given by the following equations. qA=5p−30, p≥8qB=2p+20, p≥10qC=3p+10, p≥15 What is the total quantity supplied at a market price of Rs 10?
Answer» There are three sellers A, B and C in a market. Their supply curves are given by the following equations. $q_{A} = 5 p - 30, p \geq 8 q_{B} = 2 p + 20, p \geq 10 q_{C} = 3 p + 10, p \geq 15$ What is the total quantity supplied at a market price of Rs 10?

1643.

There are three sellers A, B and C in a market. Their supply curves are given by the following equations. qA=5p−30, p≥8qB=2p+20, p≥10qC=3p+10, p≥15 What is the total quantity supplied at a market price of Rs 10?

Answer»

There are three sellers A, B and C in a market. Their supply curves are given by the following equations.

$q_{A} = 5 p - 30, p \geq 8 q_{B} = 2 p + 20, p \geq 10 q_{C} = 3 p + 10, p \geq 15$

What is the total quantity supplied at a market price of Rs 10?

Discussion

1644.	How will an increase in the price of tea affect the demand for sugar? Explain with diagram.
Answer» How will an increase in the price of tea affect the demand for sugar? Explain with diagram.

Discussion

1645.	State the meaning of `quantity demanded of a commodity`.
Answer» State the meaning of `quantity demanded of a commodity`.

Discussion

1646.	The Malthusian trap occurs because ___
Answer» The Malthusian trap occurs because ___

Discussion

1647.	Productivity of land can be raised by:
Answer» Productivity of land can be raised by:

Discussion

1648.	An economic theory claims that a rise in gasoline prices will cause gasoline purchases to fall, Ceteris paribus. The phrase "Ceteris paribus" means that:
Answer» An economic theory claims that a rise in gasoline prices will cause gasoline purchases to fall, Ceteris paribus. The phrase "Ceteris paribus" means that:

Discussion

1649.	Suppose that a firm's total fixed cost is Rs. 100, and the marginal cost schedule of a firm is the following : Output (in units)1234567Marginal cost (in Rs)10203040506070 (i) Is the MC curve U-shaped ? (ii) Derive the AVC schedule. Will the AVC curve U-shaped ? Discuss.
Answer» Suppose that a firm's total fixed cost is Rs. 100, and the marginal cost schedule of a firm is the following : $\begin{matrix} Output (in units) & 1 & 2 & 3 & 4 & 5 & 6 & 7 Marginal cost (in Rs) & 10 & 20 & 30 & 40 & 50 & 60 & 70 \end{matrix}$ (i) Is the MC curve U-shaped ? (ii) Derive the AVC schedule. Will the AVC curve U-shaped ? Discuss.

1649.

Suppose that a firm's total fixed cost is Rs. 100, and the marginal cost schedule of a firm is the following : Output (in units)1234567Marginal cost (in Rs)10203040506070 (i) Is the MC curve U-shaped ? (ii) Derive the AVC schedule. Will the AVC curve U-shaped ? Discuss.

Answer»

Suppose that a firm's total fixed cost is Rs. 100, and the marginal cost schedule of a firm is the following :

$\begin{matrix} Output (in units) & 1 & 2 & 3 & 4 & 5 & 6 & 7 Marginal cost (in Rs) & 10 & 20 & 30 & 40 & 50 & 60 & 70 \end{matrix}$

(i) Is the MC curve U-shaped ?

(ii) Derive the AVC schedule. Will the AVC curve U-shaped ? Discuss.

Discussion

1650.	A 20 per cent fall in the price of a good raises its demand from 600 units to 750 units. Calculate its price elasticity of demand.
Answer» A 20 per cent fall in the price of a good raises its demand from 600 units to 750 units. Calculate its price elasticity of demand.

Discussion

Explore topic-wise InterviewSolutions in .

Study the following demand schedule and answer the following question. Price (Rs)Quantity11010100920083007400650056004700 At what price does MR become negative for the first time?

Consider a hypothetical demand and supply schedule of a commodity as given below: Price of Z(Rs.)246810Qd(in kg)10080604020Qs(in kg)20406080100 Draw a diagram, and find the equilibrium price and equilibrium quantity.

The demand schedule for a firm is shown below Price (Rs)Quantity71006200530044003500 What is the revenue maximizing level of output?

The market price of a good changes from Rs. 5 to Rs. 20. As a result, the quantity supplied by a firm increases by 15 units. The price elasticity of the firm's supply curve is 0.5. Find the initial and final output levels of the firm.

Explain in detail the warehousing services.

When was the first FYP launched?

At the point of inflexion:

Which of the following is false regarding SHG’s

Market demand is aggregation of individual demand

Which of the following is/are correct?

The SMC curve cuts the AVC curve ___

Consider the following statements about Central Adoption Resource Authority: Which of the above statements is/are correct?

Which of the following are manifestations of colonialism?

Distinguish between "Microeconomics" and "Macroeconomics".

Economic problem arises due to the fact that

Which of the following curves shows the different quantities of a good that one particular consumer is willing to buy at different possible prices of the good at a point of time?

Explain 'Black marketing' as a direct consequence of price celing OR Explain the concept of buffer stock as a tool of price floor.

Explain the role of small business in rural India.

Statement: Should all the government owned educational institutions be given to private sector Arguments: I. Yes, there will be upgradation of educational standard in these institutions. II. Yes, the educational standard of these institutions will decrease.

Statement: Should young entrepreneur be encouraged? Arguments: I. Yes, they will help in the industrial development of the country. II. Yes, they will reduce the burden on the employment market.

The supply curve is upward sloping because __________.

The market price of a good changes from Rs 5 to Rs 20. As a result, the quantity supplied by a firm increases by 15 units. The price elasticity of the firm’s supply curve is 0.5. Find the final output levels of the firm.

When a new seller enters the market, quantity supplied at a given price ________

State the behavior of Total Variable Cost. Draw Total Variable Cost, Total Cost and Total Fixed Cost curves in a single diagram Or State the behavior of Total Variable Cost. Prepare a Schedule showing Total Variable Cost and Total Cost.

Reforms that are related to the revenue and expenditure of the government are:

Briefly discuss the problems faced by small scale industries.

Some restaurants are closed during some parts of the day because

A firm supplied 500 units of a commodity at a price of Rs. 5 per unit. The price elasticity of supply is 3. At what price will the firm supply 700 units?

Assumptions of the law of demand refer to:

The transformation of resources into economic goods and services is called:

Before industrialisation, cotton textiles were much more expensive in Britain than in India and China. Why?

Enlist any four main features of chain stores.

The Industrial Development and Regulation Act of 1951 has certain objectives. Which of the following objective is true?

The "Father of Green Revolution" is:

The movement started by National Literacy Mission is:

Which public department is responsible for road construction?

Identify the industry/industries which were under the public sector during the colonial period.

"Scarcity is the root of all economic problems." Explain.

Explain the concept of 'secret reserve'.

Which best describes consumer surplus?

There are three sellers A, B and C in a market. Their supply curves are given by the following equations. qA=5p−30, p≥8qB=2p+20, p≥10qC=3p+10, p≥15 What is the total quantity supplied at a market price of Rs 10?

How will an increase in the price of tea affect the demand for sugar? Explain with diagram.

State the meaning of `quantity demanded of a commodity`.

The Malthusian trap occurs because ___

Productivity of land can be raised by:

An economic theory claims that a rise in gasoline prices will cause gasoline purchases to fall, Ceteris paribus. The phrase "Ceteris paribus" means that:

Suppose that a firm's total fixed cost is Rs. 100, and the marginal cost schedule of a firm is the following : Output (in units)1234567Marginal cost (in Rs)10203040506070 (i) Is the MC curve U-shaped ? (ii) Derive the AVC schedule. Will the AVC curve U-shaped ? Discuss.

A 20 per cent fall in the price of a good raises its demand from 600 units to 750 units. Calculate its price elasticity of demand.