InterviewSolution
Saved Bookmarks
InterviewSolution
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your Class 11 knowledge and support exam preparation. Choose a topic below to get started.
| 501. |
Explain the both condition of producer equilibrium. (6) |
| Answer» | |
| 502. |
What is systematic sampling |
| Answer» Under this method, all units of the universe are arranged in systematic manner on some basis. This method is generally used in those cases where a complete list of the whole universe is available.\xa0 | |
| 503. |
Low level of national income and per capital income |
| Answer» | |
| 504. |
Which is the graphical measure available to measure despersion |
| Answer» Mode | |
| 505. |
What is the main aim of law of demand |
| Answer» In simple words law of demand when price increases, then its demand decrease. And when prices decrease it\'s demand increases<br>The law of demand states that quantity purchased varies inversely with price. In other words, the higher the price, the lower the quantity demanded. This phenomenon occurs because when consumers\' opportunity cost increases, they must give something else up or switch to a substitute product. | |
| 506. |
What will be the syllabus for session 2019-20 ?? |
| Answer» How to learn economic and score good mrjs | |
| 507. |
Explain the branchs of economoic |
| Answer» Micro and macro are the branch of the economics | |
| 508. |
What is ideal index |
| Answer» Ideal volume index is the geometric mean of the Laspeyres and Paasche volume indices. Context: A measure of change in volume from period to period. It is calculated as the geometric mean of a chain Paasche volume index and a chain Laspeyres volume index. | |
| 509. |
Can you please tell me the marks distribution in each chapters |
| Answer» Refer to cbse syllabus in the economics column of this app and there you will find your answer..<br>Oh u r requesting or ordering | |
| 510. |
effect of chain in income price and quantity |
| Answer» | |
| 511. |
What is a economics |
| Answer» Economics studies all economic activities of human beings. it deals with person and its economic activities. We know that human wants are unlimited and resources are limited and resources have their alternative uses it creates a problem of choice is known as economics<br>Economics is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic. | |
| 512. |
Economics ka 2019 ka syllabus |
| Answer» It\'s given in the app | |
| 513. |
What is meant by the price floor? What are its implications |
| Answer» Minimum price ceiling or Price floor means the least price that could be paid for a good or service. It is the price fixed by thegovernment for a good in the market. The government fixes the price on agricultural products and food grains inparticular so that the farmers get their fair price of a commodity which otherwise actually can be sold with too low of aprice.Effects of price floor:(i) Minimum Return: Farmers are ensured with the minimum returns as their products are completely sold in themarket at comparatively higher price. This leads to an increase in their level of income.(ii) Maximum Level of output: The government ensures to buy the full produce of the farmers which are not sold inthe market at the price floor. Hence, they are able to produce the maximum level of output.(iii) Burden on Government: It also puts extra burden on the government revenues. It becomes mandatory for thegovernment to purchase the excess produce, even if it runs a sufficient volume of buffer stocks.\xa0(iv) Higher Taxes: The government also tries to shift the burden (associated with purchasing the excess produce athigher price) to the consumers and the traders in form of higher taxes. | |
| 514. |
How can i get well marks in a short peroid of time in micro economics |
| Answer» | |
| 515. |
solution of sample paper numerical questions |
| Answer» | |
| 516. |
Annual exam paper 2017-18 |
| Answer» | |
| 517. |
Define abnormal profit. |
| Answer» Superprofit | |
| 518. |
What do the long run marginal cost and the average cost curve look like |
| Answer» | |
| 519. |
What is the diff. between supply anf quantity supply |
| Answer» Supply is a more generic term and in a plural sense compared to quantity suppliedSupply is the quantity supplied of a commodity by a producer at various possible pricesBut quantity supplied is a specific term..it is the specific quantity sold at a specific priceHope you got it! | |
| 520. |
Why AFC curve is rectangular hyperbola?? |
| Answer» Reet u are right<br>it is due to decrease in afc with increase in output | |
| 521. |
What is cartel? |
| Answer» A coalition or cooperative arrangement between political parties intended to promote a mutual interest.Cartel is an arrangement/organisation among producers or business firms to exert control over market by influencing price of the product or setting production targets. The main purpose of cartels is to maximize profit, or to avoid losses among the member firms. | |
| 522. |
Producer equilibrium |
| Answer» Producer equilibrium means a situation where consumer get maximum profit | |
| 523. |
easiest topic of economics |
| Answer» Use of money in economics | |
| 524. |
Distinguish between expansion in demand and increase in demand. |
| Answer» Expansion of demand refers to rise to quantity demanded due to decrease in price of a good keeping other factors constant. Increase in demand refers to rise in demand due to change in other factors keeping price constant. Some factors are:1) price of complementary goods. 2)income of consumer. 3)taste and preference....hope it will help.. ? | |
| 525. |
statics corelatiom chapter practical question no. 5 |
| Answer» | |
| 526. |
What is dmu |
| Answer» Dmu means diminishing marginal utility.... It states that as we consume more and more of a good the additional utility derived from each successive unit keeps on falling.... Hope it will help u... ?<br>Dmu states that as we consume more of a commodity,the utility derived from each successive unit goes on decreasing | |
| 527. |
What is meant by return to factor? State the law of dimnishing return to a factor |
| Answer» Returns to a factor refers to the change in output when an additional unit of variable input is employed.The Law of Variable Proportion can be regarded to as \'Returns to a Factor\'. According to this law, as more and more of variable factor (labour) is combined with the same quantity of fixed factor (capital), then the total product increases though gradually after a point, the total product becomes smaller and smaller.The second stage of Law of Variable Proportion is referred as diminishing returns to a factor. Following are the reasons for diminishing returns.\xa0 | |
| 528. |
Explain Consumer equilibrium through indifference curve analysis... |
| Answer» First explain the meaning of consume equilibrium then explain meaning of ic and its properties | |
| 529. |
What is marginal cost |
| Answer» Thanks Yogita<br>Marginal cost: The cost incurred on additional unit of output is known as Marginal cost. | |
| 530. |
Is Stock of raw material left last year includes in national income ?Answer with reason |
| Answer» No, it will not be included. While calculating national income we are only looking at fresh factor contributions for the current year. That is one of the reasons why we also do not include second hand goods in the national income. | |
| 531. |
What is producer\'s equilibrium with help of schedule and diagram |
| Answer» | |
| 532. |
Why is AR curve of monopolist is less than the AR curve of a firm under monopolistic competition |
| Answer» | |
| 533. |
Meaning of microeconomics |
| Answer» Microeconomics is the study of individuals, households and firms\' behavior in decision making and allocation of resources. It generally applies to markets of goods and services and deals with individual and economic issues. | |
| 534. |
Central problem of an economy. PPC and its properties |
| Answer» | |
| 535. |
What ia the micro |
| Answer» Micro means small Its simple bro | |
| 536. |
State wheter true or false |
| Answer» Where is the question | |
| 537. |
Producer is not in equilibrium when mc is more than Mr comment |
| Answer» Producer is in equillibrium when it fulfills both the conditions 1.mc=mr 2.mc>mrBecause if the producer will produce one more level of output then its revenue will be decreasing | |
| 538. |
Relationship between income and demand |
| Answer» There is positive relationship between income n demad. With a fall in price , real income increases . Accordingly , demand for commodity expands .. | |
| 539. |
How is marginal revenue derived from total revenue ? |
| Answer» TRn-TRn-1<br>Because it is an additional unit of total revenue | |
| 540. |
Why is a FC curve rectangular type |
| Answer» | |
| 541. |
How can we learn economics easily? |
| Answer» | |
| 542. |
At A GIVEN EQUILIBRIUM IN THE MARKET ,EXPLAIN THE CHAIN OF EFFECT OF INCREASE IN DEMAND FOR A GOOD ? |
| Answer» It results in inrease in equilibrium price and equilibrium quantity demanded | |
| 543. |
Explain relationship between MP and TP with the help of graph and table |
| Answer» | |
| 544. |
Briefly explain the causes of increasing returns to a factor |
| Answer» In a given state of technology when the units of variable factors are increased with the units of other fixed factors, the marginal productivity increases, it is called law of increasing returnsCauses of Initial Increasing Returns:The phase of increasing returns starts when the quantity of a fixed factor is abundant relative to thequantity of the variable factor. As more and more units of the variable factor are added to the constant quantity of the fixed factor, it is more intensively and effectively used. This causes the production toincrease at a rapid rate. Another reason of increasing returns is that the fixed factor initially taken is indivisible. As more units of the variable factor are employed to work on it, output increases greatly due tofuller and effective utilization of the variable factor.(ii) Stage of Diminishing Returns. This is the most important stage in the production function. In stage2, the total production continues to increase at a diminishing rate until it reaches its maximum point (H)where the 2nd stage ends. In this stage both the marginal product (MP) and average product of the variable factor are diminishing but are positive.Causes of Diminishing Returns:The 2nd phase of the law occurs when the fixed factor becomes inadequate relative to the quantity of thev ariable factor. As more and more units of a variable factor are employed, the marginal and average product decline. Another reason of diminishing returns in the production function is that the fixed indivisible factor is being worked too hard. It is being used in non-optima! proportion with the variable factor, Mrs. J. Robinson still goes deeper and says that the diminishing returns occur because the factors of production are imperfect substitutes of one another.(iii) Stage of Negative Returns. In the 3rd stage, the total production declines. The TP, curve slopes downward (From point H onward). The MP curve falls to zero at point L2and then is negative. It goes below the X axis with the increase in the use of variable factor (labor).Causes of Negative Returns:The 3rd phases of the law starts when the number of a variable, factor becomes, too excessive relative,to the fixed factors, A producer cannot operate in this stage because total production declines with the employment of additional labor.A rational producer will always seek to produce in stage 2 where MP and AP of the variable factor are diminishing. At which particular point, the producer will decide to produce depends upon the price of the factor he has to pay. The producer will employ the variable factor (say labor) up to the point where the marginal product of the labor equals the given wage rate in the labor market. | |
| 545. |
How does TP behave with change in MP |
| Answer» 1) So long as MP is increasing TP increase at increasing rate.2) when MP starts decreasing TP increases at decreasing rate.3) when MP=0 TP is constant.(TP is max.)4) when MP is negative TP starts declining | |
| 546. |
Define Marginal opportunity cost along a ppc? |
| Answer» Marginal opportunity cost refers to opportunity per unit of additional crop of output 2 when resources continuously shifted from one opportunity to another opportunity.<br>Thank you<br>The marginal opportunity cost for a comodity is the admount of other goods which has to be given up in order to produce an additional unit of that commodityProduction Possibilities Curve(PPC) of Marginal Opportunity costMarginal opportunity cost of one commodity (say \'x\') means the amount of another commodity (say \'y\') which is sacrified to have an additional unit of \'X\' commodity. Marginal opportunity cost is generally increasing.It means more and more of the other good has to be sacrifised to have per unit increase of the former commodity | |
| 547. |
What is the supply demand |
| Answer» \tThe market is governed by the law of demand. First, let us define what we mean by demand in terms of the market:\tDemand for commodity implies (i) the desire to acquire it, (ii) willingness to pay for it, (iii) ability to pay for it. The Law of demand states that:\tThe relationship between Price and quantity demanded is an economic law. The quantity of a good demanded per period relates inversely to its price, other things constant. | |
| 548. |
What do you mean by excess supply,? Show diagram and explain its implications |
| Answer» Supply of a commodity more than the demand in the market is known as excess supply | |
| 549. |
define microeconome |
| Answer» Micro means small . So micro economics is that part economics which deals with economic issue related to small unit<br>what is a firm<br>The prefix \'Micro" of microeconomics has been derived from the greek word "Mikros" which means small. Microeconomics studies the economics activities and behaviour of small individual units of the economy. It means microeconomics can be defined as the study and analysis of the behaviour of individual economic units. For example: Microeconomic studies about the behaviour of an individual consumer, one producer, a firm, a household, one industry and so on. It means microeconomics makes the microscopic study of small individual units. In particular, microeconomics focuses on patterns of supply and demand and the determination of price and output in individual markets (e.g. coffee industry). | |
| 550. |
Difference between expansion in supply and increase in supply |
| Answer» Expansion in supply- when the quantity supplied of a commodity increases due to fall in price , it is referred to expansion in supply .. it leads to upward shift in supply curve .. Increase in supply - when the supply of a commodity increases due to the factor other than price of own commodity , it is referred to increase in supply ..it leads to rightward shift in supply curve<br>Increase in supply: It is due to technological advancement, decrease in input prices, decrease in unit tax, decrease in prices of other related goods and the prices of the good remaining constant.Extension in supply: With an increase in prices of the good, the other determinants of supply will remain constant.\xa0 | |