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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.
| 6201. |
Budget line shows: |
| Answer» <html><body><p>Possible <a href="https://interviewquestions.tuteehub.com/tag/combination-922669" style="font-weight:bold;" target="_blank" title="Click to know more about COMBINATION">COMBINATION</a> of two <a href="https://interviewquestions.tuteehub.com/tag/goods-1009877" style="font-weight:bold;" target="_blank" title="Click to know more about GOODS">GOODS</a> that a consumer can buy by spending his entire income at the given prices<br/>Possible combination of two goods which cost <a href="https://interviewquestions.tuteehub.com/tag/less-1071906" style="font-weight:bold;" target="_blank" title="Click to know more about LESS">LESS</a> than or equal to consumer's money income<br/>Possible combination of two goods among which the <a href="https://interviewquestions.tuteehub.com/tag/conumer-2542986" style="font-weight:bold;" target="_blank" title="Click to know more about CONUMER">CONUMER</a> is indifferent <br/>All the these</p>Answer :A</body></html> | |
| 6202. |
Which one of the following is also known asfixed cost ? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/supplementary-1235189" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLEMENTARY">SUPPLEMENTARY</a> Cost<br/>Primary Cost<br/>Direct Cost<br/>Avoidable Cost</p>Solution :N//A</body></html> | |
| 6203. |
Which of these is not a market structure is Econimics? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/perfect-1150611" style="font-weight:bold;" target="_blank" title="Click to know more about PERFECT">PERFECT</a> <a href="https://interviewquestions.tuteehub.com/tag/competition-423521" style="font-weight:bold;" target="_blank" title="Click to know more about COMPETITION">COMPETITION</a><br/>Monopoly<br/>Monoplistic Competition <br/><a href="https://interviewquestions.tuteehub.com/tag/intense-1047406" style="font-weight:bold;" target="_blank" title="Click to know more about INTENSE">INTENSE</a> Competition</p>Solution :N/a</body></html> | |
| 6204. |
Priceelasticityof supplyis equalto one onlywhenthe supplycurveformsan angleof 45^(@)at theorigine. |
| Answer» <html><body><p></p>Solution :False :Priceelasticityofsupplyis equalto <a href="https://interviewquestions.tuteehub.com/tag/oneall-2891747" style="font-weight:bold;" target="_blank" title="Click to know more about ONEALL">ONEALL</a> thecaseswhensupplycurve passesthrough the origin, irrespectiveof <a href="https://interviewquestions.tuteehub.com/tag/theangle-706318" style="font-weight:bold;" target="_blank" title="Click to know more about THEANGLE">THEANGLE</a> it <a href="https://interviewquestions.tuteehub.com/tag/makes-2811811" style="font-weight:bold;" target="_blank" title="Click to know more about MAKES">MAKES</a> <a href="https://interviewquestions.tuteehub.com/tag/withthe-1458106" style="font-weight:bold;" target="_blank" title="Click to know more about WITHTHE">WITHTHE</a> origin.</body></html> | |
| 6205. |
The factor causing extension in supply of a good is |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/increase-1040383" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASE">INCREASE</a> in <a href="https://interviewquestions.tuteehub.com/tag/number-582134" style="font-weight:bold;" target="_blank" title="Click to know more about NUMBER">NUMBER</a> of firms<br/>decrease in <a href="https://interviewquestions.tuteehub.com/tag/tax-1239527" style="font-weight:bold;" target="_blank" title="Click to know more about TAX">TAX</a> rate<br/>improvement in technology<br/>increase in <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> of the good.</p>Answer :D</body></html> | |
| 6206. |
Govt. of the country imposes tax on petrol usage by the people, what impact will this have on budget line of a consumer showing consumption of two commodities petrol and food items on it? What is policy implication behind tax imposition ? |
| Answer» <html><body><p><br/></p>Solution :When tax is imposed on petrol, its <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> goes up. Due to this the budget line <a href="https://interviewquestions.tuteehub.com/tag/rotates-1191154" style="font-weight:bold;" target="_blank" title="Click to know more about ROTATES">ROTATES</a> leftwards. <br/> When budget line rotates leftwards, it implies fall in quantity demanded of petrol by the consumers due to increase <a href="https://interviewquestions.tuteehub.com/tag/inits-2739161" style="font-weight:bold;" target="_blank" title="Click to know more about INITS">INITS</a> price. The <a href="https://interviewquestions.tuteehub.com/tag/policy-602125" style="font-weight:bold;" target="_blank" title="Click to know more about POLICY">POLICY</a> implication behind tax on petrol is indirect restriction on usage of petrol and <a href="https://interviewquestions.tuteehub.com/tag/ensures-972243" style="font-weight:bold;" target="_blank" title="Click to know more about ENSURES">ENSURES</a> judicious use of scare resource <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/MIC_ECO_XI_U02_C02_E01_048_S01.png" width="80%"/></body></html> | |
| 6207. |
If theaverage salary of a firm is Rs. 400 and the number of workers is 60, find the total salary bill of the firm. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Given:`barX=400,N= 60` <br/> `barX=(<a href="https://interviewquestions.tuteehub.com/tag/sumx-3819684" style="font-weight:bold;" target="_blank" title="Click to know more about SUMX">SUMX</a>)/N` <br/> `rArr""sumX= N xx barX` <br/> `""=60xx400 = 24,000` <br/> Total Salary <a href="https://interviewquestions.tuteehub.com/tag/bill-398201" style="font-weight:bold;" target="_blank" title="Click to know more about BILL">BILL</a> = <a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a>. 24,000.</body></html> | |
| 6208. |
Mention the various cases in which equilibrium price remains same. |
| Answer» <html><body><p></p>Solution :The <a href="https://interviewquestions.tuteehub.com/tag/equilibrium-974342" style="font-weight:bold;" target="_blank" title="Click to know more about EQUILIBRIUM">EQUILIBRIUM</a> price remains same when: <br/>(i) Increase in demand = Increase in <a href="https://interviewquestions.tuteehub.com/tag/supply-1235254" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLY">SUPPLY</a>. <br/> (ii) Decrease in demand= Decrease in supply. <br/> (iii) Demand <a href="https://interviewquestions.tuteehub.com/tag/increases-1040626" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASES">INCREASES</a> and supply is perfectly elastic. <br/> (<a href="https://interviewquestions.tuteehub.com/tag/iv-501699" style="font-weight:bold;" target="_blank" title="Click to know more about IV">IV</a>) Demand decreases and supply is perfectly elastic. <br/> (v) Supply increases and demand is perfectly elastic. <br/> (vi) Supply decreases and demand is perfectly elastic.</body></html> | |
| 6209. |
Indicate the most appropriate alternative from the multiple choices provided against each question. The algebraic sum of deviation of a set of n values from A.M. is |
| Answer» <html><body><p>n<br/>0<br/>1<br/>None of these</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a></body></html> | |
| 6210. |
Define perfect competition. Explain the various features of perfect competition. |
| Answer» <html><body><p></p>Solution :Perfect competition refers to a market situation where there are very large no. of buyers and sellers dealing in a homogeneous product at a price fixed by the market.The features of Perfect competition are:1) Very large no. of buyers and sellers: The no. of sellers is so large that the share of each seller is insignificant in the <a href="https://interviewquestions.tuteehub.com/tag/total-711110" style="font-weight:bold;" target="_blank" title="Click to know more about TOTAL">TOTAL</a> supply. Hence, an individual seller cannot influence the market price. Similarly, a single buyer's share in total purchase is so insignificant because of their large no. that an individual buyer cannot influence the market price. Under such conditions, price of a commodity is determined by the market forces of demand and supply and each buyer and seller has to accept the same price. As a result, uniform price prevails in the market.2) Homogeneous product: The products offered for sale in the market are homogeneous, i.e., the product sold is identical in all respects like size, shape, <a href="https://interviewquestions.tuteehub.com/tag/quality-17732" style="font-weight:bold;" target="_blank" title="Click to know more about QUALITY">QUALITY</a>,etc. Since each firm produces 100% identical products, their products can be readily substituted for each other. So, the buyer has no specific preference to buy from a particular seller only.3) Freedom of entry and exit: 'Freedom of entry' signifies that there are no barriers to the entry of new firms into industry. When the existing firms are earning abnormal profits, the new firms, attracted by the prospects of profit, enter the industry. This raises market supply, which in turn, leads to fall in market price and consequently profits. Te entry continues till each firm is earning just the normal profits. 'Freedom to exit' signifies that there are no barriers which restrict the existing firms from leaving the industry. The firms try to <a href="https://interviewquestions.tuteehub.com/tag/leave-1070813" style="font-weight:bold;" target="_blank" title="Click to know more about LEAVE">LEAVE</a> when they are facing losses. As the firms start leaving, market supply falls, leading to rise in market price and consequently reduction in losses. The firms continue to leave till the losses are wiped out and each existing firm is earning just the normal profits.4) Perfect <a href="https://interviewquestions.tuteehub.com/tag/knowledge-25694" style="font-weight:bold;" target="_blank" title="Click to know more about KNOWLEDGE">KNOWLEDGE</a> among buyers and sellers: Perfect knowledge means that both buyers and sellers are fully informed about the market price. Its implication is that no firm is in a position to charge a different price and no buyer will pay a higher price. As a result a uniform price prevails in the market.5) Perfect Mobility of factors of production: The factors of production ( land, labor, capital and entrepreneurship) are perfectly mobile. There is no geographical or occupational restriction on their movement. The factors are free to move to the industry in which they get the best price.6) Absence of Transportation Costs: In order to ensure uniform price in the market, it is assumed that transportation costs are zero. A producer can sell his product at any <a href="https://interviewquestions.tuteehub.com/tag/place-1155224" style="font-weight:bold;" target="_blank" title="Click to know more about PLACE">PLACE</a> and a buyer can buy it from the place he likes.7) Absence of selling costs: Selling cost refers to cost of advertisement of the product. In perfect competition, there are no selling costs because of perfect knowledge amongst the buyers and sellers.</body></html> | |
| 6211. |
Indicate the most appropriate alternative from the multiple choices provided against each question. The most suitable average for qualitative measurement is: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/arithmetic-15417" style="font-weight:bold;" target="_blank" title="Click to know more about ARITHMETIC">ARITHMETIC</a> mean<br/>median<br/>mode<br/></p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 6212. |
"Changes in quantity supplied" of a good is caused by : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/change-913808" style="font-weight:bold;" target="_blank" title="Click to know more about CHANGE">CHANGE</a> in 'own <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> ' of the good<br/>Change in <a href="https://interviewquestions.tuteehub.com/tag/prices-1165311" style="font-weight:bold;" target="_blank" title="Click to know more about PRICES">PRICES</a> of other goods<br/>Change in <a href="https://interviewquestions.tuteehub.com/tag/taxes-1239736" style="font-weight:bold;" target="_blank" title="Click to know more about TAXES">TAXES</a> on the good<br/>Any other factor</p>Answer :A</body></html> | |
| 6213. |
In general, most of the production functions measures : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/productivity-1168351" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCTIVITY">PRODUCTIVITY</a> of <a href="https://interviewquestions.tuteehub.com/tag/factors-458933" style="font-weight:bold;" target="_blank" title="Click to know more about FACTORS">FACTORS</a> of production<br/>Economical <a href="https://interviewquestions.tuteehub.com/tag/relation-1183220" style="font-weight:bold;" target="_blank" title="Click to know more about RELATION">RELATION</a> between the factors of production<br/>Technical relation between <a href="https://interviewquestions.tuteehub.com/tag/inputs-1045695" style="font-weight:bold;" target="_blank" title="Click to know more about INPUTS">INPUTS</a> and output.<br/>None of these</p>Answer :C</body></html> | |
| 6214. |
The consumer is in equilibrium when Marginal Utility from a Commodity equals: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> of the Commodity<br/>Supply of that Commodity<br/>Price of the Commodity<br/>All of these</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 6215. |
Find the coefficient of correlation from the following data: |
| Answer» <html><body><p></p>Solution :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TRJ_ECO_XI_C12_S01_013_S01.png" width="80%"/> <br/> `bar(X)=(<a href="https://interviewquestions.tuteehub.com/tag/sumx-3819684" style="font-weight:bold;" target="_blank" title="Click to know more about SUMX">SUMX</a>)/(N)=(125)/(8)=15.625,` <br/> `bar(Y)=(sumY)/(N)=(337)/(8)=42.125` <br/> Since the actual means are not whole number , we <a href="https://interviewquestions.tuteehub.com/tag/take-662846" style="font-weight:bold;" target="_blank" title="Click to know more about TAKE">TAKE</a> 16 as assumed mean for X and 42 as assumed mean for Y. <br/> Applying the formula,<br/> `r=(sumdxdy-((sumdx) xx(sumdy))/(N))/(<a href="https://interviewquestions.tuteehub.com/tag/sqrt-1223129" style="font-weight:bold;" target="_blank" title="Click to know more about SQRT">SQRT</a>(sumdx^(2)=((sumdx)^(2))/(N))xx sqrt(sumdy^(2)-((sumdy)^(2))/(N)))` <br/> `=(138-((-3)xx(<a href="https://interviewquestions.tuteehub.com/tag/1-256655" style="font-weight:bold;" target="_blank" title="Click to know more about 1">1</a>))/(8))/(sqrt(71-((-3)^(2))/(8))xxsqrt(283-((1)^(2))/(8)))` <br/> `=(138-(-0.375))/(sqrt(71-1.125)xx sqrt(283-0.125))` <br/> `=(138+0.375)/(8.36xx16.82)` <br/> `=(138.375)/(140.6152)` <br/> `+0.98` <br/> Coefficient of Correlation (r)=+0.98</body></html> | |
| 6216. |
Out of the three concepts of revenue, which one is also known as price ? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/average-13416" style="font-weight:bold;" target="_blank" title="Click to know more about AVERAGE">AVERAGE</a> <a href="https://interviewquestions.tuteehub.com/tag/revenue-1188040" style="font-weight:bold;" target="_blank" title="Click to know more about REVENUE">REVENUE</a> (<a href="https://interviewquestions.tuteehub.com/tag/ar-380980" style="font-weight:bold;" target="_blank" title="Click to know more about AR">AR</a>).</body></html> | |
| 6217. |
What is meant by 'increase' in supply? |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/increase-1040383" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASE">INCREASE</a> in supply <a href="https://interviewquestions.tuteehub.com/tag/refers-1181652" style="font-weight:bold;" target="_blank" title="Click to know more about REFERS">REFERS</a> to a rise in the supply of a commodity caused due to any factor other than the own price of the commodity.</body></html> | |
| 6218. |
A strainghtlinesupply curvecurve cuts theY- axisinitsnegativerange. What istheelastictiy of supply ? |
| Answer» <html><body><p>highly elastic <br/>Unitaryelastic <br/>Less elastic<br/>Perfectly Elacstic</p>Solution : <a href="https://interviewquestions.tuteehub.com/tag/staight-3072289" style="font-weight:bold;" target="_blank" title="Click to know more about STAIGHT">STAIGHT</a> supply curve cutting Y-axis implies that there is not <a href="https://interviewquestions.tuteehub.com/tag/happening-1015466" style="font-weight:bold;" target="_blank" title="Click to know more about HAPPENING">HAPPENING</a> any change in <a href="https://interviewquestions.tuteehub.com/tag/quantity-1174212" style="font-weight:bold;" target="_blank" title="Click to know more about QUANTITY">QUANTITY</a> supplied when <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> is changing, thus supply is less elastic. our answer is option (<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a>).</body></html> | |
| 6219. |
The government has started pomoting roreign capital. What is its economic value in the context of production Possibilities Frontier? |
| Answer» <html><body><p></p>Solution :It will increase <a href="https://interviewquestions.tuteehub.com/tag/inflow-1043698" style="font-weight:bold;" target="_blank" title="Click to know more about INFLOW">INFLOW</a> of <a href="https://interviewquestions.tuteehub.com/tag/foreign-995515" style="font-weight:bold;" target="_blank" title="Click to know more about FOREIGN">FOREIGN</a> capita. Its econimic value is the rise in <a href="https://interviewquestions.tuteehub.com/tag/production-14556" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCTION">PRODUCTION</a> <a href="https://interviewquestions.tuteehub.com/tag/potential-1161228" style="font-weight:bold;" target="_blank" title="Click to know more about POTENTIAL">POTENTIAL</a> due to increase in resources.</body></html> | |
| 6220. |
A few big sellers' is a chararteristics of : |
| Answer» <html><body><p>Perfect competition <br/><a href="https://interviewquestions.tuteehub.com/tag/monopolistic-2180801" style="font-weight:bold;" target="_blank" title="Click to know more about MONOPOLISTIC">MONOPOLISTIC</a> competition <br/><a href="https://interviewquestions.tuteehub.com/tag/oligopoly-585440" style="font-weight:bold;" target="_blank" title="Click to know more about OLIGOPOLY">OLIGOPOLY</a> <br/>None of these </p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 6221. |
Define variable costs. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Variable costs are costs that change as the quantity of the good or service that a <a href="https://interviewquestions.tuteehub.com/tag/business-21797" style="font-weight:bold;" target="_blank" title="Click to know more about BUSINESS">BUSINESS</a> produces changes. Variable costs are the sum of <a href="https://interviewquestions.tuteehub.com/tag/marginal-555038" style="font-weight:bold;" target="_blank" title="Click to know more about MARGINAL">MARGINAL</a> costs over all units produced. They can also be considered <a href="https://interviewquestions.tuteehub.com/tag/normal-1123860" style="font-weight:bold;" target="_blank" title="Click to know more about NORMAL">NORMAL</a> costs.</body></html> | |
| 6222. |
Marginalcost is not affected by total fixed cost. |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/true-713260" style="font-weight:bold;" target="_blank" title="Click to know more about TRUE">TRUE</a>. As total <a href="https://interviewquestions.tuteehub.com/tag/fixed-457597" style="font-weight:bold;" target="_blank" title="Click to know more about FIXED">FIXED</a> cost does <a href="https://interviewquestions.tuteehub.com/tag/notchange-2876963" style="font-weight:bold;" target="_blank" title="Click to know more about NOTCHANGE">NOTCHANGE</a> with change in <a href="https://interviewquestions.tuteehub.com/tag/output-1142821" style="font-weight:bold;" target="_blank" title="Click to know more about OUTPUT">OUTPUT</a>, marginal cost is independent of total fixed cost and is affected onlyby change intotalvariable cost.</body></html> | |
| 6223. |
"Massive unemployment will shift the PPC to the left", defend or refute. |
| Answer» <html><body><p></p>Solution :This <a href="https://interviewquestions.tuteehub.com/tag/statement-16478" style="font-weight:bold;" target="_blank" title="Click to know more about STATEMENT">STATEMENT</a> is refuted. Massive unemployment is due to inefficient <a href="https://interviewquestions.tuteehub.com/tag/use-1441041" style="font-weight:bold;" target="_blank" title="Click to know more about USE">USE</a> of <a href="https://interviewquestions.tuteehub.com/tag/resources-11387" style="font-weight:bold;" target="_blank" title="Click to know more about RESOURCES">RESOURCES</a> which does not decrease the capacity of economy to produce. Therefore, there will be not shift of PPC. The economy will operate <a href="https://interviewquestions.tuteehub.com/tag/inside-1045864" style="font-weight:bold;" target="_blank" title="Click to know more about INSIDE">INSIDE</a> the PPC due to underutilisation of resources.</body></html> | |
| 6224. |
What is meant by standard deviation? What are its main merits or characteristics? |
| Answer» <html><body><p></p>Solution :Standard <a href="https://interviewquestions.tuteehub.com/tag/deviation-950382" style="font-weight:bold;" target="_blank" title="Click to know more about DEVIATION">DEVIATION</a> is the <a href="https://interviewquestions.tuteehub.com/tag/square-650836" style="font-weight:bold;" target="_blank" title="Click to know more about SQUARE">SQUARE</a> <a href="https://interviewquestions.tuteehub.com/tag/root-1190914" style="font-weight:bold;" target="_blank" title="Click to know more about ROOT">ROOT</a> of the arithmetic <a href="https://interviewquestions.tuteehub.com/tag/mean-1091459" style="font-weight:bold;" target="_blank" title="Click to know more about MEAN">MEAN</a> of the <a href="https://interviewquestions.tuteehub.com/tag/squares-1223400" style="font-weight:bold;" target="_blank" title="Click to know more about SQUARES">SQUARES</a> of all deviations. Devations being measured from the arithmetic mean of the items.<br/>Merits :- <br/>1. Based on all values.<br/>2. A certain measure.<br/>3. Little effect of a change in sample.<br/>4. Algebraic Treatment.</body></html> | |
| 6225. |
Choose the correct option, when supply increases and demand is prefectly elastic: |
| Answer» <html><body><p><img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/SG_MIC_ECO_C11_E01_027_O01.png" width="30%"/><br/><img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/SG_MIC_ECO_C11_E01_027_O02.png" width="30%"/><br/><img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/SG_MIC_ECO_C11_E01_027_O03.png" width="30%"/><br/><img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/SG_MIC_ECO_C11_E01_027_O04.png" width="30%"/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :(<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a>)</body></html> | |
| 6226. |
Rate of inflation is equal to: [A= Price index] |
| Answer» <html><body><p>`(A_(<a href="https://interviewquestions.tuteehub.com/tag/1-256655" style="font-weight:bold;" target="_blank" title="Click to know more about 1">1</a>))/(A_(<a href="https://interviewquestions.tuteehub.com/tag/2-283658" style="font-weight:bold;" target="_blank" title="Click to know more about 2">2</a>)+A_(1))<a href="https://interviewquestions.tuteehub.com/tag/xx100-3292680" style="font-weight:bold;" target="_blank" title="Click to know more about XX100">XX100</a>`<br/>`(A_(2)+A_(1))/(A_(1))xx100`<br/>`(A_(1))/(A_(2)-A_(1))xx100`<br/>`(A_(2)-A_(1))/(A_(1))xx100`</p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :D</body></html> | |
| 6227. |
"An economy always produces on, but not inside a PPC", defend or refute. Or Does production take place only on the PPC ? |
| Answer» <html><body><p></p>Solution :This statement is refuted. <br/>`**` When resources are fully and efficiency utilised, te economy will operate on PPC.Refer to <a href="https://interviewquestions.tuteehub.com/tag/point-1157106" style="font-weight:bold;" target="_blank" title="Click to know more about POINT">POINT</a> (<a href="https://interviewquestions.tuteehub.com/tag/v-722631" style="font-weight:bold;" target="_blank" title="Click to know more about V">V</a>) in the figure. <br/> `**` If there is inefficient <a href="https://interviewquestions.tuteehub.com/tag/use-1441041" style="font-weight:bold;" target="_blank" title="Click to know more about USE">USE</a> of resources, then the economy will operate <a href="https://interviewquestions.tuteehub.com/tag/inside-1045864" style="font-weight:bold;" target="_blank" title="Click to know more about INSIDE">INSIDE</a> the PPC. Refer to point (<a href="https://interviewquestions.tuteehub.com/tag/g-1003017" style="font-weight:bold;" target="_blank" title="Click to know more about G">G</a>) in the figure. <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/MIC_ECO_XI_U01_C01_E01_067_S01.png" width="80%"/></body></html> | |
| 6228. |
The impact of change in the price of a commodity with little weight in the index will be: (i) small(ii) large(iii) uncertain |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :(i)</body></html> | |
| 6229. |
When does the shift in supply curve occur? |
| Answer» <html><body><p></p>Solution :It occurs, when quantity <a href="https://interviewquestions.tuteehub.com/tag/supplied-3090548" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLIED">SUPPLIED</a> changes <a href="https://interviewquestions.tuteehub.com/tag/due-433472" style="font-weight:bold;" target="_blank" title="Click to know more about DUE">DUE</a> to change in other factors, at the same <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a>.</body></html> | |
| 6230. |
What is a black market ? Why does it exist ? |
| Answer» <html><body><p><br/></p>Solution :In a black <a href="https://interviewquestions.tuteehub.com/tag/market-25464" style="font-weight:bold;" target="_blank" title="Click to know more about MARKET">MARKET</a>, goods are <a href="https://interviewquestions.tuteehub.com/tag/sold-631881" style="font-weight:bold;" target="_blank" title="Click to know more about SOLD">SOLD</a> at a price higher than the maximum price fixed by the government. Black markets <a href="https://interviewquestions.tuteehub.com/tag/exist-979486" style="font-weight:bold;" target="_blank" title="Click to know more about EXIST">EXIST</a> because buyers are ready to pay a price fixed by the market in order to buy the desired quantity of <a href="https://interviewquestions.tuteehub.com/tag/good-1009017" style="font-weight:bold;" target="_blank" title="Click to know more about GOOD">GOOD</a>.</body></html> | |
| 6231. |
AC, AVC and MC curves are 'U' shaped because of : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/law-184" style="font-weight:bold;" target="_blank" title="Click to know more about LAW">LAW</a> ofDiminishing <a href="https://interviewquestions.tuteehub.com/tag/marginal-555038" style="font-weight:bold;" target="_blank" title="Click to know more about MARGINAL">MARGINAL</a> Utility<br/>Law of <a href="https://interviewquestions.tuteehub.com/tag/diminishing-2044202" style="font-weight:bold;" target="_blank" title="Click to know more about DIMINISHING">DIMINISHING</a> Returns<br/>Law of <a href="https://interviewquestions.tuteehub.com/tag/variable-1442996" style="font-weight:bold;" target="_blank" title="Click to know more about VARIABLE">VARIABLE</a> Proportions<br/>None of these</p>Solution :N//A</body></html> | |
| 6232. |
Which of the following formulae is propounded by Fisher ? |
| Answer» <html><body><p><<a href="https://interviewquestions.tuteehub.com/tag/p-588962" style="font-weight:bold;" target="_blank" title="Click to know more about P">P</a>>`P_(01)=(sump_(<a href="https://interviewquestions.tuteehub.com/tag/1-256655" style="font-weight:bold;" target="_blank" title="Click to know more about 1">1</a>)q_(1))/(sump_(0)q_(1))`<br/>`P_(01)=(sump_(1)q_(0))/(sump_(0)q_(0))xx100`<br/>`P_(01)=<a href="https://interviewquestions.tuteehub.com/tag/sqrt-1223129" style="font-weight:bold;" target="_blank" title="Click to know more about SQRT">SQRT</a>((sump_(1)q_(0))/(sump_(0)q_(0))xx(sump_(1)q_(1))/(sump_(0)q_(1)))xx100`<br/><a href="https://interviewquestions.tuteehub.com/tag/none-580659" style="font-weight:bold;" target="_blank" title="Click to know more about NONE">NONE</a> of these</p>Answer :C</body></html> | |
| 6233. |
In the following diagram of budget line, point ''D'' represents : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/bundle-905567" style="font-weight:bold;" target="_blank" title="Click to know more about BUNDLE">BUNDLE</a> which <a href="https://interviewquestions.tuteehub.com/tag/cost-25707" style="font-weight:bold;" target="_blank" title="Click to know more about COST">COST</a> equal to <a href="https://interviewquestions.tuteehub.com/tag/money-25502" style="font-weight:bold;" target="_blank" title="Click to know more about MONEY">MONEY</a> income of consumer<br/>Bundle whichcost <a href="https://interviewquestions.tuteehub.com/tag/less-1071906" style="font-weight:bold;" target="_blank" title="Click to know more about LESS">LESS</a> than money income of consumer<br/>Bundle which cost greater than money income of consumer<br/>None of these</p>Answer :B</body></html> | |
| 6234. |
Median of a series with variable 1,2,3,4,5,6is : |
| Answer» <html><body><p>3<br/>3.5<br/>4<br/>4.5</p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a></body></html> | |
| 6235. |
Explain the behaviour of firm's supply in the context of time horizon. Or How does time period affect the elasticity of supply of a commodity? |
| Answer» <html><body><p></p>Solution :Time <a href="https://interviewquestions.tuteehub.com/tag/period-1151023" style="font-weight:bold;" target="_blank" title="Click to know more about PERIOD">PERIOD</a> affects the price elasticity of <a href="https://interviewquestions.tuteehub.com/tag/supply-1235254" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLY">SUPPLY</a>. <a href="https://interviewquestions.tuteehub.com/tag/longer-1078655" style="font-weight:bold;" target="_blank" title="Click to know more about LONGER">LONGER</a> the time period, greater is the elasticity of supply , shorter the time period, lesser is the elasticity of supply. <br/> <a href="https://interviewquestions.tuteehub.com/tag/effect-966056" style="font-weight:bold;" target="_blank" title="Click to know more about EFFECT">EFFECT</a> of time period differs between <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/MIC_ECO_XI_U03_C09_E01_037_S01.png" width="80%"/></body></html> | |
| 6236. |
Marginal revenue is always the price at which last unit of a commodity is sold. Comment. |
| Answer» <html><body><p></p>Solution :The <a href="https://interviewquestions.tuteehub.com/tag/given-473447" style="font-weight:bold;" target="_blank" title="Click to know more about GIVEN">GIVEN</a> statement is <a href="https://interviewquestions.tuteehub.com/tag/incorrect-499101" style="font-weight:bold;" target="_blank" title="Click to know more about INCORRECT">INCORRECT</a>. It is possible only when price is constant at all levels of <a href="https://interviewquestions.tuteehub.com/tag/output-1142821" style="font-weight:bold;" target="_blank" title="Click to know more about OUTPUT">OUTPUT</a>. If price <a href="https://interviewquestions.tuteehub.com/tag/falls-983294" style="font-weight:bold;" target="_blank" title="Click to know more about FALLS">FALLS</a> with rise in output, then marginal revenue is less than the price (or average revenue).</body></html> | |
| 6237. |
which of the following influence price elasticity of demand ? |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/nature-1112013" style="font-weight:bold;" target="_blank" title="Click to know more about NATURE">NATURE</a> of the <a href="https://interviewquestions.tuteehub.com/tag/commodity-923558" style="font-weight:bold;" target="_blank" title="Click to know more about COMMODITY">COMMODITY</a> <br/><a href="https://interviewquestions.tuteehub.com/tag/income-25499" style="font-weight:bold;" target="_blank" title="Click to know more about INCOME">INCOME</a> Level<br/>Availability of <a href="https://interviewquestions.tuteehub.com/tag/subsitutes-3084006" style="font-weight:bold;" target="_blank" title="Click to know more about SUBSITUTES">SUBSITUTES</a> <br/>All the these.</p>Solution :N/a</body></html> | |
| 6238. |
A country produces two commodities: X and Y. Its production possibilities are shown in the following table: (a) Calculate marginal rate of transformation (MRT) (b) Construct a PPF with the help of the various possibilities, (c ) Comment on the shape of PPF along with its reason. |
| Answer» <html><body><p></p>Solution :(a) <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/SG_MIC_ECO_C01_S01_007_S01.png" width="80%"/> <br/> (b) Figure 1.13 <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/SG_MIC_ECO_C01_S01_007_S02.png" width="80%"/> <br/> (c ) <a href="https://interviewquestions.tuteehub.com/tag/ppf-592456" style="font-weight:bold;" target="_blank" title="Click to know more about PPF">PPF</a> is convex shaped <a href="https://interviewquestions.tuteehub.com/tag/due-433472" style="font-weight:bold;" target="_blank" title="Click to know more about DUE">DUE</a> to decreasing MRT, i.e., <a href="https://interviewquestions.tuteehub.com/tag/less-1071906" style="font-weight:bold;" target="_blank" title="Click to know more about LESS">LESS</a> and less units of <a href="https://interviewquestions.tuteehub.com/tag/commodity-923558" style="font-weight:bold;" target="_blank" title="Click to know more about COMMODITY">COMMODITY</a> Y are sacrificed to gain an additional <a href="https://interviewquestions.tuteehub.com/tag/unit-1438166" style="font-weight:bold;" target="_blank" title="Click to know more about UNIT">UNIT</a> of commodity X.</body></html> | |
| 6239. |
Economics arrive at conclusions : |
| Answer» <html><body><p>By applying <a href="https://interviewquestions.tuteehub.com/tag/logic-25525" style="font-weight:bold;" target="_blank" title="Click to know more about LOGIC">LOGIC</a><br/>By <a href="https://interviewquestions.tuteehub.com/tag/collecting-921795" style="font-weight:bold;" target="_blank" title="Click to know more about COLLECTING">COLLECTING</a> <a href="https://interviewquestions.tuteehub.com/tag/facts-16997" style="font-weight:bold;" target="_blank" title="Click to know more about FACTS">FACTS</a><br/>Applying logic followed by collection of facts. <br/>Collection of facts by applying logic. </p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a>. Applying logic followed by collection of facts.</body></html> | |
| 6240. |
State any one feature of monopolistic competition. |
| Answer» <html><body><p></p>Solution :Freedom of <a href="https://interviewquestions.tuteehub.com/tag/entry-972873" style="font-weight:bold;" target="_blank" title="Click to know more about ENTRY">ENTRY</a> and exit: Under Monopolistic Competition, firms are free to <a href="https://interviewquestions.tuteehub.com/tag/enter-446119" style="font-weight:bold;" target="_blank" title="Click to know more about ENTER">ENTER</a> into or exit from the industry at any time they wish. Free entry and exit of firms means that there are no barriers before the firm for entering into the industry and <a href="https://interviewquestions.tuteehub.com/tag/leaving-1070834" style="font-weight:bold;" target="_blank" title="Click to know more about LEAVING">LEAVING</a> the industry. New firms can enter when they find that the existing firms are earning abnormal profits. With their entry, output of the industry increases, which <a href="https://interviewquestions.tuteehub.com/tag/leads-540453" style="font-weight:bold;" target="_blank" title="Click to know more about LEADS">LEADS</a> to fall in the price of the product. This continues till each firm is earning only normal profit. The existing firm leave when they <a href="https://interviewquestions.tuteehub.com/tag/face-982590" style="font-weight:bold;" target="_blank" title="Click to know more about FACE">FACE</a> losses. As they leave, output of the industry goes down, raises the price of the product till the losses are wiped out. It ensures that there are neither abnormal profits nor any abnormal losses to a firm in the long run.</body></html> | |
| 6241. |
How surplus created as a result of price floor imposed by government is utilised ? |
| Answer» <html><body><p><br/></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> floor means fixation of pricehigher than the market equilibrium price. It creates excess supply or surplus in themarket. The <a href="https://interviewquestions.tuteehub.com/tag/unsold-7273290" style="font-weight:bold;" target="_blank" title="Click to know more about UNSOLD">UNSOLD</a> stock is bought by the government and kept in its buffer stocks. It is used for distribution through fair price shops. It <a href="https://interviewquestions.tuteehub.com/tag/may-557248" style="font-weight:bold;" target="_blank" title="Click to know more about MAY">MAY</a> be used to <a href="https://interviewquestions.tuteehub.com/tag/meet-1092928" style="font-weight:bold;" target="_blank" title="Click to know more about MEET">MEET</a> consumption requirements during natural calamities like floods, earthquake etc. It is also used by the government for giving to the workers under 'Food for work'programme and other such special employment schemes launched in India.</body></html> | |
| 6242. |
When x falls, y also falls. There is perfect correlation between the two. The correlation coefficient between the two is |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/zero-751093" style="font-weight:bold;" target="_blank" title="Click to know more about ZERO">ZERO</a> <br/><a href="https://interviewquestions.tuteehub.com/tag/infinity-515780" style="font-weight:bold;" target="_blank" title="Click to know more about INFINITY">INFINITY</a> <br/>`+<a href="https://interviewquestions.tuteehub.com/tag/1-256655" style="font-weight:bold;" target="_blank" title="Click to know more about 1">1</a>`<br/>`-1`</p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 6243. |
On consuming some units of a good,the utiility obtained is 10 utils. It is a example of : |
| Answer» <html><body><p>Ordinal <a href="https://interviewquestions.tuteehub.com/tag/utility-1441817" style="font-weight:bold;" target="_blank" title="Click to know more about UTILITY">UTILITY</a> <br/><a href="https://interviewquestions.tuteehub.com/tag/cardinal-406847" style="font-weight:bold;" target="_blank" title="Click to know more about CARDINAL">CARDINAL</a> utility <br/>Marginal utility <br/>Minimizing wastage </p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :B</body></html> | |
| 6244. |
What is meant by mid-values frequency series? |
| Answer» <html><body><p></p>Solution :Mid-value <a href="https://interviewquestions.tuteehub.com/tag/frequency-465761" style="font-weight:bold;" target="_blank" title="Click to know more about FREQUENCY">FREQUENCY</a> <a href="https://interviewquestions.tuteehub.com/tag/series-1201802" style="font-weight:bold;" target="_blank" title="Click to know more about SERIES">SERIES</a> are those series in which we have only mid-values of the class <a href="https://interviewquestions.tuteehub.com/tag/intervals-1049965" style="font-weight:bold;" target="_blank" title="Click to know more about INTERVALS">INTERVALS</a> and the <a href="https://interviewquestions.tuteehub.com/tag/corresponding-935567" style="font-weight:bold;" target="_blank" title="Click to know more about CORRESPONDING">CORRESPONDING</a> <a href="https://interviewquestions.tuteehub.com/tag/frequencies-999868" style="font-weight:bold;" target="_blank" title="Click to know more about FREQUENCIES">FREQUENCIES</a>.</body></html> | |
| 6245. |
Marginal Revenue can never be negative. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :False : When a <a href="https://interviewquestions.tuteehub.com/tag/firm-989667" style="font-weight:bold;" target="_blank" title="Click to know more about FIRM">FIRM</a> sell more only by <a href="https://interviewquestions.tuteehub.com/tag/lowering-1081107" style="font-weight:bold;" target="_blank" title="Click to know more about LOWERING">LOWERING</a> the price, it is possible that <a href="https://interviewquestions.tuteehub.com/tag/marginal-555038" style="font-weight:bold;" target="_blank" title="Click to know more about MARGINAL">MARGINAL</a> <a href="https://interviewquestions.tuteehub.com/tag/revenue-1188040" style="font-weight:bold;" target="_blank" title="Click to know more about REVENUE">REVENUE</a> becomes negative after a level of output.</body></html> | |
| 6246. |
Indifference curves are convex to the origin because of: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/increasing-1040633" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASING">INCREASING</a> MRS<br/><a href="https://interviewquestions.tuteehub.com/tag/diminishing-2044202" style="font-weight:bold;" target="_blank" title="Click to know more about DIMINISHING">DIMINISHING</a> MRS<br/>Law of Diminishing <a href="https://interviewquestions.tuteehub.com/tag/marginal-555038" style="font-weight:bold;" target="_blank" title="Click to know more about MARGINAL">MARGINAL</a> Utility<br/>Law of Equi-Marginal Utility</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a></body></html> | |
| 6247. |
If two supply curves intersect, which one has the higher price elasticity? |
| Answer» <html><body><p></p>Solution :The flatter supply curve is more elastic at the <a href="https://interviewquestions.tuteehub.com/tag/point-1157106" style="font-weight:bold;" target="_blank" title="Click to know more about POINT">POINT</a> of intersection as <a href="https://interviewquestions.tuteehub.com/tag/compared-7256615" style="font-weight:bold;" target="_blank" title="Click to know more about COMPARED">COMPARED</a> to the <a href="https://interviewquestions.tuteehub.com/tag/steeper-1227264" style="font-weight:bold;" target="_blank" title="Click to know more about STEEPER">STEEPER</a> curve because the flatter the supply curve, more the elasticity.</body></html> | |
| 6248. |
What do you mean by fixed factors ? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :FIxed factors are the factors which do not <a href="https://interviewquestions.tuteehub.com/tag/vary-1443941" style="font-weight:bold;" target="_blank" title="Click to know more about VARY">VARY</a> with the <a href="https://interviewquestions.tuteehub.com/tag/level-1072714" style="font-weight:bold;" target="_blank" title="Click to know more about LEVEL">LEVEL</a> of output in the <a href="https://interviewquestions.tuteehub.com/tag/short-642706" style="font-weight:bold;" target="_blank" title="Click to know more about SHORT">SHORT</a> run.</body></html> | |
| 6249. |
State three causes each for a rightward shift and a leftward shift in the supply curve. |
| Answer» | |
| 6250. |
In a perfectly competitive market, products of all the firms are homogeneous because : |
| Answer» <html><body><p>All the <a href="https://interviewquestions.tuteehub.com/tag/firm-989667" style="font-weight:bold;" target="_blank" title="Click to know more about FIRM">FIRM</a> <a href="https://interviewquestions.tuteehub.com/tag/use-1441041" style="font-weight:bold;" target="_blank" title="Click to know more about USE">USE</a> the same tachnology <br/>All the <a href="https://interviewquestions.tuteehub.com/tag/products-18828" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCTS">PRODUCTS</a> are of same quality<br/>All the products are <a href="https://interviewquestions.tuteehub.com/tag/identical-496701" style="font-weight:bold;" target="_blank" title="Click to know more about IDENTICAL">IDENTICAL</a> for the buyers<br/>All the above</p>Answer :C</body></html> | |