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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.
| 6901. |
Spot the wrong statement about median and quartiles. |
| Answer» <html><body><p>Both are <a href="https://interviewquestions.tuteehub.com/tag/positional-7290189" style="font-weight:bold;" target="_blank" title="Click to know more about POSITIONAL">POSITIONAL</a> average<br/>Both have the same <a href="https://interviewquestions.tuteehub.com/tag/method-559432" style="font-weight:bold;" target="_blank" title="Click to know more about METHOD">METHOD</a> of <a href="https://interviewquestions.tuteehub.com/tag/calculation-907729" style="font-weight:bold;" target="_blank" title="Click to know more about CALCULATION">CALCULATION</a> <br/>Both have the same method of calculation <br/>Both divide the <a href="https://interviewquestions.tuteehub.com/tag/series-1201802" style="font-weight:bold;" target="_blank" title="Click to know more about SERIES">SERIES</a> into a number of equal parts </p>Answer :C</body></html> | |
| 6902. |
If r=0.997,sumxy=46,bar(X)=4,bar(Y)=8,sumx^(2)=28, what will be the value of sumy^(2)? |
| Answer» <html><body><p></p>Solution :`r=(sumxy)/(sqrt(sumx^(2)xxsumy^(2)))` <br/> Given : `r=0.997, sum xyl =<a href="https://interviewquestions.tuteehub.com/tag/46-317673" style="font-weight:bold;" target="_blank" title="Click to know more about 46">46</a> , bar (X)=<a href="https://interviewquestions.tuteehub.com/tag/4-311707" style="font-weight:bold;" target="_blank" title="Click to know more about 4">4</a>,bar (Y)=8, sum x^(2)=28` <br/> Substituting the <a href="https://interviewquestions.tuteehub.com/tag/values-25920" style="font-weight:bold;" target="_blank" title="Click to know more about VALUES">VALUES</a>,we get <br/> `0.997=(46)/(sqrt(28xx <a href="https://interviewquestions.tuteehub.com/tag/sumy-2258423" style="font-weight:bold;" target="_blank" title="Click to know more about SUMY">SUMY</a>^(2)))` <br/> Squaring both <a href="https://interviewquestions.tuteehub.com/tag/side-1206832" style="font-weight:bold;" target="_blank" title="Click to know more about SIDE">SIDE</a> , we get <br/> `0.994=(2,116)/(28xxsumy^(2))` <br/> `implies 27.832xx sumy^(2)=2,116` <br/> `sumy^(2)=76.03` <br/> Value of `sumy^(2)=76.03`</body></html> | |
| 6903. |
As outputis increased, the difference between average total cost and average fixedcost, which never becomes zero as total fixed cost is never zero. |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/false-459184" style="font-weight:bold;" target="_blank" title="Click to know more about FALSE">FALSE</a>. The difference between average <a href="https://interviewquestions.tuteehub.com/tag/total-711110" style="font-weight:bold;" target="_blank" title="Click to know more about TOTAL">TOTAL</a> cost and average variable cost is average <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 , which never becomes <a href="https://interviewquestions.tuteehub.com/tag/zero-751093" style="font-weight:bold;" target="_blank" title="Click to know more about ZERO">ZERO</a> as total fixed cost is never zero.Total fixed cost is <a href="https://interviewquestions.tuteehub.com/tag/constant-930172" style="font-weight:bold;" target="_blank" title="Click to know more about CONSTANT">CONSTANT</a> at all level of output.</body></html> | |
| 6904. |
Explain the conditions of consumer ' s equilibrium under Idifference Curve analysis. |
| Answer» <html><body><p></p>Solution :There are two <a href="https://interviewquestions.tuteehub.com/tag/conditions-424384" style="font-weight:bold;" target="_blank" title="Click to know more about CONDITIONS">CONDITIONS</a> :<br/>(i) MRS = Ratio of prices<br/>(ii) MRS <a href="https://interviewquestions.tuteehub.com/tag/continuously-7269309" style="font-weight:bold;" target="_blank" title="Click to know more about CONTINUOUSLY">CONTINUOUSLY</a> falls<br/>Explanation :<br/>(i) <a href="https://interviewquestions.tuteehub.com/tag/let-11597" style="font-weight:bold;" target="_blank" title="Click to know more about LET">LET</a> the two goods be X and Y.Thefirst condition for consumer's <a href="https://interviewquestions.tuteehub.com/tag/equilibrium-974342" style="font-weight:bold;" target="_blank" title="Click to know more about EQUILIBRIUM">EQUILIBRIUM</a> is that MRS`=P_(X)//P_(Y)`. Now suppose MRS is greater than`Px//Py`.It means that the consumer is willing to pay more for Xthan the price <a href="https://interviewquestions.tuteehub.com/tag/prevailing-2950879" style="font-weight:bold;" target="_blank" title="Click to know more about PREVAILING">PREVAILING</a> in the market . As a result , the consumer buysmore of X.This leads to fall in MRS . MRS continues to fall till it becomes equal to the ratio of prices and the equilibrium is established.(Or , alternatively in trems of when `MRSltPx//Py)`<br/>(ii)Unless MRS continuously falls , the equilibrium cannot be established.</body></html> | |
| 6905. |
Discuss the behaviour of Marginal Product and Total Product when only one input is increased and other inputs are held constant |
| Answer» | |
| 6906. |
When P_(x) != P_(y), then consumer is at equilibrium when MU_(x) = MU_(y) |
| 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>Solution :Equilibrium <a href="https://interviewquestions.tuteehub.com/tag/conditions-424384" style="font-weight:bold;" target="_blank" title="Click to know more about CONDITIONS">CONDITIONS</a> of the consumer can be <a href="https://interviewquestions.tuteehub.com/tag/stated-7313961" style="font-weight:bold;" target="_blank" title="Click to know more about STATED">STATED</a> as `MU_(x) = MU_(y) " only when " P_(x) = P_(y)`.</body></html> | |
| 6907. |
State three features of oligopoly. |
| Answer» <html><body><p></p>Solution : The main features of oligopoly are as follows: 1) Few firms: Under oligopoly, there are few large firms. The exact no. of firms is not defined. Each firm produces a significant portion of the total output. There exists severe <a href="https://interviewquestions.tuteehub.com/tag/competition-423521" style="font-weight:bold;" target="_blank" title="Click to know more about COMPETITION">COMPETITION</a> among different firms and each firm <a href="https://interviewquestions.tuteehub.com/tag/try-1428546" style="font-weight:bold;" target="_blank" title="Click to know more about TRY">TRY</a> to manipulate both <a href="https://interviewquestions.tuteehub.com/tag/prices-1165311" style="font-weight:bold;" target="_blank" title="Click to know more about PRICES">PRICES</a> and volume of production to outsmart each other. 2) Interdependence: Firms under oligopoly are interdependent. Interdependence means that actions of one firm affect the actions of other firms. A firm considers the action and reaction of the rival firms while determining its price and output levels. A change in output or price by one firm evokes reaction from other firms operating in the market. 3) Non- Price Competition: Under oligopoly, firms are in a position to influence the prices. However, they try to avoid price competition for the fear of price war. They follow the policy of price <a href="https://interviewquestions.tuteehub.com/tag/rigidity-623827" style="font-weight:bold;" target="_blank" title="Click to know more about RIGIDITY">RIGIDITY</a>. Price rigidity refers to a situation in which price tends to stay fixed irrespective of changes in demand and supply conditions. Firms use other methods like advertising, better services to customers, <a href="https://interviewquestions.tuteehub.com/tag/etc-975753" style="font-weight:bold;" target="_blank" title="Click to know more about ETC">ETC</a>. to compete with each other.</body></html> | |
| 6908. |
What is the shape of TR curve in a monopoly or monopolistic competition ? |
| 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> :It is <a href="https://interviewquestions.tuteehub.com/tag/inverse-1050621" style="font-weight:bold;" target="_blank" title="Click to know more about INVERSE">INVERSE</a> U-shape.</body></html> | |
| 6909. |
Tea when price of coffee increases. |
| 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> :<a href="https://interviewquestions.tuteehub.com/tag/shifts-1205400" style="font-weight:bold;" target="_blank" title="Click to know more about SHIFTS">SHIFTS</a> to <a href="https://interviewquestions.tuteehub.com/tag/left-1070879" style="font-weight:bold;" target="_blank" title="Click to know more about LEFT">LEFT</a>.</body></html> | |
| 6910. |
State the behaviour of MPP, under Returns to a factor. |
| Answer» <html><body><p><br/></p>Answer : In <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, when one factor input is variable and other factors are fixed `q=f(x_1barx_2)`marginal <a href="https://interviewquestions.tuteehub.com/tag/physical-600035" style="font-weight:bold;" target="_blank" title="Click to know more about PHYSICAL">PHYSICAL</a> product changes in the following ways : <br/>(i) <a href="https://interviewquestions.tuteehub.com/tag/mpp-549071" style="font-weight:bold;" target="_blank" title="Click to know more about MPP">MPP</a> <a href="https://interviewquestions.tuteehub.com/tag/initially-516121" style="font-weight:bold;" target="_blank" title="Click to know more about INITIALLY">INITIALLY</a> increases and becomes maximum (Phase I) <br/>(ii) MPP then decreases positively and becomes zero (Phase II) <br/> (<a href="https://interviewquestions.tuteehub.com/tag/iii-497983" style="font-weight:bold;" target="_blank" title="Click to know more about III">III</a>) MPP becomes negative (Phase III).</body></html> | |
| 6911. |
Define investment. |
| 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> :Investment is expenditure by the producers on the <a href="https://interviewquestions.tuteehub.com/tag/purchase-1172709" style="font-weight:bold;" target="_blank" title="Click to know more about PURCHASE">PURCHASE</a> of such assets which help to <a href="https://interviewquestions.tuteehub.com/tag/generate-1004855" style="font-weight:bold;" target="_blank" title="Click to know more about GENERATE">GENERATE</a> <a href="https://interviewquestions.tuteehub.com/tag/income-25499" style="font-weight:bold;" target="_blank" title="Click to know more about INCOME">INCOME</a>.</body></html> | |
| 6912. |
The measure of price elasticity of demand of a normal good carries minus sing while price elasticity of supply carries plus sing . Explainwhy ? |
| Answer» <html><body><p></p>Solution :The measure of <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> <a href="https://interviewquestions.tuteehub.com/tag/elasticity-14238" style="font-weight:bold;" target="_blank" title="Click to know more about ELASTICITY">ELASTICITY</a> of demand has a minus sign because there is an <a href="https://interviewquestions.tuteehub.com/tag/inverse-1050621" style="font-weight:bold;" target="_blank" title="Click to know more about INVERSE">INVERSE</a> relation betweenprice anddemand of a normal <a href="https://interviewquestions.tuteehub.com/tag/good-1009017" style="font-weight:bold;" target="_blank" title="Click to know more about GOOD">GOOD</a> , while measure of 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> of a good.</body></html> | |
| 6913. |
Wxplain 'product differentiation' feature of monopolistic competition. |
| Answer» | |
| 6914. |
Giving reason, comment of the shape of the production Possibilities curve based on the following schedule, {:("Good X (units)",0,1,2,3,4),("Good Y (units)",20,18,14,8,0):} |
| Answer» <html><body><p><br/></p>Answer :As MRT is <a href="https://interviewquestions.tuteehub.com/tag/constant-930172" style="font-weight:bold;" target="_blank" title="Click to know more about CONSTANT">CONSTANT</a>, <a href="https://interviewquestions.tuteehub.com/tag/ppc-25541" style="font-weight:bold;" target="_blank" title="Click to know more about PPC">PPC</a> will be <a href="https://interviewquestions.tuteehub.com/tag/downward-2061463" style="font-weight:bold;" target="_blank" title="Click to know more about DOWNWARD">DOWNWARD</a> sloping and <a href="https://interviewquestions.tuteehub.com/tag/concave-927978" style="font-weight:bold;" target="_blank" title="Click to know more about CONCAVE">CONCAVE</a> to the origin)</body></html> | |
| 6915. |
Explain the procedure of selecting a random sample of 3 student out of the 10 in your class, by using random number of tables. |
| 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> :1. Assign a particular number between 1 to <a href="https://interviewquestions.tuteehub.com/tag/10-261113" style="font-weight:bold;" target="_blank" title="Click to know more about 10">10</a> to all the students.2.Select a number randomly.3. Consult the 2 digit random number, 2 numbers successive to <a href="https://interviewquestions.tuteehub.com/tag/selected-3017558" style="font-weight:bold;" target="_blank" title="Click to know more about SELECTED">SELECTED</a> random number <a href="https://interviewquestions.tuteehub.com/tag/either-7265046" style="font-weight:bold;" target="_blank" title="Click to know more about EITHER">EITHER</a> horizontally or vertically are the remaining 2 students.</body></html> | |
| 6916. |
"Use the chemical fertilisers, but becomes food shortage, give good dividends at one time in the form of increased production, but becomes a disaster later in the form of adverse effects on health". How can we overcome this problem? |
| Answer» <html><body><p></p>Solution :Increasing use of chemica fertilisers make country self dependent in food <a href="https://interviewquestions.tuteehub.com/tag/production-14556" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCTION">PRODUCTION</a> but it deteriorate environment and cause harmful <a href="https://interviewquestions.tuteehub.com/tag/impacts-504717" style="font-weight:bold;" target="_blank" title="Click to know more about IMPACTS">IMPACTS</a> on living beings. This problem can be handled by promoting organic farming. Organic farming is the process of <a href="https://interviewquestions.tuteehub.com/tag/producing-2229964" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCING">PRODUCING</a> safe and healthy food. Moreover, organic agriculture restores, maintains and enhances the <a href="https://interviewquestions.tuteehub.com/tag/ecological-2067290" style="font-weight:bold;" target="_blank" title="Click to know more about ECOLOGICAL">ECOLOGICAL</a> balance. There is an increasing demand for organically grown food, to enhance food safety throughout the <a href="https://interviewquestions.tuteehub.com/tag/world-1460172" style="font-weight:bold;" target="_blank" title="Click to know more about WORLD">WORLD</a>.</body></html> | |
| 6917. |
When the rate of fall in MR is more than fall in AR : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> <a href="https://interviewquestions.tuteehub.com/tag/increases-1040626" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASES">INCREASES</a> with <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 output <br/>Price decreases with incereasein output <br/>Price remains <a href="https://interviewquestions.tuteehub.com/tag/constant-930172" style="font-weight:bold;" target="_blank" title="Click to know more about CONSTANT">CONSTANT</a> with increase in output <br/>None of these </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> :N/A</body></html> | |
| 6918. |
Revenue in microeconomics means : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/tax-1239527" style="font-weight:bold;" target="_blank" title="Click to know more about TAX">TAX</a> collected by government <br/><a href="https://interviewquestions.tuteehub.com/tag/market-25464" style="font-weight:bold;" target="_blank" title="Click to know more about MARKET">MARKET</a> <a href="https://interviewquestions.tuteehub.com/tag/value-1442530" style="font-weight:bold;" target="_blank" title="Click to know more about VALUE">VALUE</a> of output <a href="https://interviewquestions.tuteehub.com/tag/produced-592947" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCED">PRODUCED</a> by a firm <br/>Profits of a firm <br/>None of the above </p>Answer :B</body></html> | |
| 6919. |
Expansion in Supply is shown in : |
| Answer» <html><body><p><img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/SG_MIC_ECO_C09_E01_028_O01.png" width="30%"/><br/><img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/SG_MIC_ECO_C09_E01_028_O02.png" width="30%"/><br/><img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/SG_MIC_ECO_C09_E01_028_O03.png" width="30%"/><br/><img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/SG_MIC_ECO_C09_E01_028_O04.png" width="30%"/></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> :Because expansion of supply <a href="https://interviewquestions.tuteehub.com/tag/occurs-1127848" style="font-weight:bold;" target="_blank" title="Click to know more about OCCURS">OCCURS</a> when increase in priceleads to increased <a href="https://interviewquestions.tuteehub.com/tag/quantity-1174212" style="font-weight:bold;" target="_blank" title="Click to know more about QUANTITY">QUANTITY</a> <a href="https://interviewquestions.tuteehub.com/tag/supplied-3090548" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLIED">SUPPLIED</a>.</body></html> | |
| 6920. |
Microeconomics is study of: |
| Answer» <html><body><p>(a) A producer<br/>(b) <a href="https://interviewquestions.tuteehub.com/tag/production-14556" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCTION">PRODUCTION</a> of a <a href="https://interviewquestions.tuteehub.com/tag/good-1009017" style="font-weight:bold;" target="_blank" title="Click to know more about GOOD">GOOD</a><br/>(c) An industry<br/>(d) All the above</p>Answer :d</body></html> | |
| 6921. |
If MR curve is parallel to the X-axis, what does it tell about price and the demand ? |
| Answer» <html><body><p></p>Solution :It <a href="https://interviewquestions.tuteehub.com/tag/means-1091780" style="font-weight:bold;" target="_blank" title="Click to know more about MEANS">MEANS</a>, the <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 <a href="https://interviewquestions.tuteehub.com/tag/commodity-923558" style="font-weight:bold;" target="_blank" title="Click to know more about COMMODITY">COMMODITY</a> remains 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> and the demand is <a href="https://interviewquestions.tuteehub.com/tag/perfectly-7309466" style="font-weight:bold;" target="_blank" title="Click to know more about PERFECTLY">PERFECTLY</a> elastic.</body></html> | |
| 6922. |
What is budget line? |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/budget-25496" style="font-weight:bold;" target="_blank" title="Click to know more about BUDGET">BUDGET</a> line is a graphical <a href="https://interviewquestions.tuteehub.com/tag/representation-1185381" style="font-weight:bold;" target="_blank" title="Click to know more about REPRESENTATION">REPRESENTATION</a> of all possible combinations of two goods which can be purchased with <a href="https://interviewquestions.tuteehub.com/tag/given-473447" style="font-weight:bold;" target="_blank" title="Click to know more about GIVEN">GIVEN</a> income and <a href="https://interviewquestions.tuteehub.com/tag/prices-1165311" style="font-weight:bold;" target="_blank" title="Click to know more about PRICES">PRICES</a>, such that the <a href="https://interviewquestions.tuteehub.com/tag/cost-25707" style="font-weight:bold;" target="_blank" title="Click to know more about COST">COST</a> of each of these combinations is equal to the money income of the consumer.</body></html> | |
| 6923. |
When MR remains same, TR increases at a: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/constant-930172" style="font-weight:bold;" target="_blank" title="Click to know more about CONSTANT">CONSTANT</a> rate <br/>Decreasing rate <br/><a href="https://interviewquestions.tuteehub.com/tag/increasing-1040633" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASING">INCREASING</a> rate <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><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :N/A</body></html> | |
| 6924. |
As we move along an indifferences curve, each point to the right shows |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/higher-1022060" style="font-weight:bold;" target="_blank" title="Click to know more about HIGHER">HIGHER</a> <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/>Lower utility <br/>Same utility <br/><a href="https://interviewquestions.tuteehub.com/tag/initial-499269" style="font-weight:bold;" target="_blank" title="Click to know more about INITIAL">INITIAL</a> higher , then same and <a href="https://interviewquestions.tuteehub.com/tag/ultimately-7384516" style="font-weight:bold;" target="_blank" title="Click to know more about ULTIMATELY">ULTIMATELY</a> declines.</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> | |
| 6925. |
Which of the following is a basis of classification of a table? |
| Answer» <html><body><p>Purpose<br/>Construction<br/>Originality<br/>all of these</p>Solution :D</body></html> | |
| 6926. |
A consumer consumes only two goods X and Y whose prices are Rs 6 and Rs 3 per unit respectively. What will be the MRS_(XY), when the conumer is in equilibrium ? |
| Answer» <html><body><p></p>Solution :A consumer in consumption of <a href="https://interviewquestions.tuteehub.com/tag/two-714195" style="font-weight:bold;" target="_blank" title="Click to know more about TWO">TWO</a> commodities is at equilibrium when : `MRS_(<a href="https://interviewquestions.tuteehub.com/tag/xy-747762" style="font-weight:bold;" target="_blank" title="Click to know more about XY">XY</a>) = (P_(X))/(P_(Y))` <br/> Putting the given <a href="https://interviewquestions.tuteehub.com/tag/values-25920" style="font-weight:bold;" target="_blank" title="Click to know more about VALUES">VALUES</a> in the equilibrium <a href="https://interviewquestions.tuteehub.com/tag/condition-409743" style="font-weight:bold;" target="_blank" title="Click to know more about CONDITION">CONDITION</a>: <br/> `MRS_(XY) = (6)/(3)` <br/> `MRS_(XY) = 2`.</body></html> | |
| 6927. |
Schedules are filled by the , |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/investigator-1050795" style="font-weight:bold;" target="_blank" title="Click to know more about INVESTIGATOR">INVESTIGATOR</a> <br/>enumerator <br/>informant <br/>none of the these </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/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a></body></html> | |
| 6928. |
Answer the following by filling in the blanks : (i) The sum total of both the substitution and the income effect is called the ______ (ii) If a fall in the price of one good raises the demand for another good, the two goods are called ______ (iii) If demand for a commodity rises even without any change in its price, then it is known as ______ (iv) In case of ______ goofd, demand rises with increase in income (v) ______shows the tabular presentation of various quantities of a commodity a consumer is willing the buy at different prices, during a given period of time. |
| Answer» <html><body><p></p>Solution :(i) Price effect , (ii) Complementary goods , (<a href="https://interviewquestions.tuteehub.com/tag/iii-497983" style="font-weight:bold;" target="_blank" title="Click to know more about III">III</a>) Increase in <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> , (iv) <a href="https://interviewquestions.tuteehub.com/tag/normal-1123860" style="font-weight:bold;" target="_blank" title="Click to know more about NORMAL">NORMAL</a> goods , (v) Demand Schedule or <a href="https://interviewquestions.tuteehub.com/tag/individual-1041871" style="font-weight:bold;" target="_blank" title="Click to know more about INDIVIDUAL">INDIVIDUAL</a> demand schedule.</body></html> | |
| 6929. |
One of the following is not the characteristics of sample survey: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/less-1071906" style="font-weight:bold;" target="_blank" title="Click to know more about LESS">LESS</a> <a href="https://interviewquestions.tuteehub.com/tag/time-19467" style="font-weight:bold;" target="_blank" title="Click to know more about TIME">TIME</a> <br/>Less <a href="https://interviewquestions.tuteehub.com/tag/cost-25707" style="font-weight:bold;" target="_blank" title="Click to know more about COST">COST</a> <br/>Less <a href="https://interviewquestions.tuteehub.com/tag/information-1043838" style="font-weight:bold;" target="_blank" title="Click to know more about INFORMATION">INFORMATION</a> <br/>Less accuracy</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></body></html> | |
| 6930. |
The other name of pie diagram is : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/circular-916697" style="font-weight:bold;" target="_blank" title="Click to know more about CIRCULAR">CIRCULAR</a> <a href="https://interviewquestions.tuteehub.com/tag/diagram-950736" style="font-weight:bold;" target="_blank" title="Click to know more about DIAGRAM">DIAGRAM</a> <br/><a href="https://interviewquestions.tuteehub.com/tag/bar-892478" style="font-weight:bold;" target="_blank" title="Click to know more about BAR">BAR</a> diagram <br/><a href="https://interviewquestions.tuteehub.com/tag/histogram-1027827" style="font-weight:bold;" target="_blank" title="Click to know more about HISTOGRAM">HISTOGRAM</a> <br/>polygon</p>Solution :A</body></html> | |
| 6931. |
TP, MP and AP are U-shaped curves. |
| 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/false-459184" style="font-weight:bold;" target="_blank" title="Click to know more about FALSE">FALSE</a>. All the <a href="https://interviewquestions.tuteehub.com/tag/curves-941810" style="font-weight:bold;" target="_blank" title="Click to know more about CURVES">CURVES</a> (TP, AP and <a href="https://interviewquestions.tuteehub.com/tag/mp-565167" style="font-weight:bold;" target="_blank" title="Click to know more about MP">MP</a>) are inversely U-shaped curves.</body></html> | |
| 6932. |
Write down a few parameters on which statistical information is published in Census of India. |
| Answer» <html><body><p></p>Solution :(i) <a href="https://interviewquestions.tuteehub.com/tag/size-1211196" style="font-weight:bold;" target="_blank" title="Click to know more about SIZE">SIZE</a>, <a href="https://interviewquestions.tuteehub.com/tag/growth-1013761" style="font-weight:bold;" target="_blank" title="Click to know more about GROWTH">GROWTH</a> rate and <a href="https://interviewquestions.tuteehub.com/tag/distribution-440862" style="font-weight:bold;" target="_blank" title="Click to know more about DISTRIBUTION">DISTRIBUTION</a> of population in India.<br/> (ii) Population <a href="https://interviewquestions.tuteehub.com/tag/projections-1169346" style="font-weight:bold;" target="_blank" title="Click to know more about PROJECTIONS">PROJECTIONS</a>. <br/> (<a href="https://interviewquestions.tuteehub.com/tag/iii-497983" style="font-weight:bold;" target="_blank" title="Click to know more about III">III</a>) Density of population <br/> (iv) Sex composition of population.</body></html> | |
| 6933. |
Explain the central problem of ’for whom to produce’? |
| Answer» <html><body><p></p>Solution :This studies the problem of distribution of final goods and services or the problem of distribution of income.It has two <a href="https://interviewquestions.tuteehub.com/tag/aspects-885713" style="font-weight:bold;" target="_blank" title="Click to know more about ASPECTS">ASPECTS</a>. The first aspect relates to <a href="https://interviewquestions.tuteehub.com/tag/personal-590834" style="font-weight:bold;" target="_blank" title="Click to know more about PERSONAL">PERSONAL</a> distribution and the second aspect relates to functional distribution.Personal distribution refers to output/income share of individuals or households in society.Functional distribution refers to income share of different <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.Here, the problem is whether <a href="https://interviewquestions.tuteehub.com/tag/allocation-373131" style="font-weight:bold;" target="_blank" title="Click to know more about ALLOCATION">ALLOCATION</a> of resources is promoting equality or not.Equality is a social virtue, and inequality may induce <a href="https://interviewquestions.tuteehub.com/tag/high-479925" style="font-weight:bold;" target="_blank" title="Click to know more about HIGH">HIGH</a> saving, investment and hence high rate of growth.</body></html> | |
| 6934. |
Why is the total revenue curve of a price taking firm an upward sloping straight line ? Why does the curve pass through the origin ? |
| Answer» <html><body><p></p>Solution :TR <a href="https://interviewquestions.tuteehub.com/tag/curves-941810" style="font-weight:bold;" target="_blank" title="Click to know more about CURVES">CURVES</a> passes through the <a href="https://interviewquestions.tuteehub.com/tag/origin-1139399" style="font-weight:bold;" target="_blank" title="Click to know more about ORIGIN">ORIGIN</a>,because when output sold is <a href="https://interviewquestions.tuteehub.com/tag/zero-751093" style="font-weight:bold;" target="_blank" title="Click to know more about ZERO">ZERO</a> , the TR of the firm is also zero. TR rises as the firm increases the quantity sold by it. Thus TR is an upward sloping curve under perfect competition. It is a straight line as <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 constant.</body></html> | |
| 6935. |
What is the relationship between TR , price and quantity sold ? |
| 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> :TR=Price <a href="https://interviewquestions.tuteehub.com/tag/x-746616" style="font-weight:bold;" target="_blank" title="Click to know more about X">X</a> <a href="https://interviewquestions.tuteehub.com/tag/quantity-1174212" style="font-weight:bold;" target="_blank" title="Click to know more about QUANTITY">QUANTITY</a> <a href="https://interviewquestions.tuteehub.com/tag/sold-631881" style="font-weight:bold;" target="_blank" title="Click to know more about SOLD">SOLD</a>.</body></html> | |
| 6936. |
A consumer consumes only two goods. Why is the consumer said to be in equilibrium when he buy only that combination of the two goods Which lies at that point on the Indifference curve where the budget line is tangent to the indifference curve? Explain. Use diagram. |
| Answer» <html><body><p></p>Solution :Let the two goods be X and Y as shown in the diagram. The <a href="https://interviewquestions.tuteehub.com/tag/tangent-1238980" style="font-weight:bold;" target="_blank" title="Click to know more about TANGENT">TANGENT</a> is at point E where: slope of indifference curve = Slope of budget line Or `MRS_(xy) = P_(x)//P_(y)`. <br/> The equilibrium purchase is `Ox` of X and `Oy` of Y on the indifference curve `l_(2)` <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/SG_MIC_ECO_C02_S01_031_S01.png" width="80%"/> <br/> The consumer cannot get satisfaction level higher than `l_(2)` because his income not permit him to move above the budget line <a href="https://interviewquestions.tuteehub.com/tag/ab-360636" style="font-weight:bold;" target="_blank" title="Click to know more about AB">AB</a>. The consumer will not like to purchase any other <a href="https://interviewquestions.tuteehub.com/tag/bundle-905567" style="font-weight:bold;" target="_blank" title="Click to know more about BUNDLE">BUNDLE</a> on the budget line AB, for example the bundle at C and D, because they all lie on the lower indifference curve, and give him lower satisfaction. <a href="https://interviewquestions.tuteehub.com/tag/therefore-706901" style="font-weight:bold;" target="_blank" title="Click to know more about THEREFORE">THEREFORE</a>, the equilibrium <a href="https://interviewquestions.tuteehub.com/tag/choice-915996" style="font-weight:bold;" target="_blank" title="Click to know more about CHOICE">CHOICE</a> is only at the tangent point E.</body></html> | |
| 6937. |
The marginal utility schedule for good X and Y are given below. Both the goods are proced at Rs 1 each and income of Rakesh (an individual) is assumed to be Rs 8. Determine, how many units of both the commodities should be purchased by Rakesh to maximize his total utility ? |
| Answer» <html><body><p></p>Solution :To maximize the total utility, Raskesh should purchase that <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 both the goods, when: <br/> (i) MU of last rupee spend on each commodity is same, i.e., `(MU_(X))/(P_(X)) = (MU_(Y))/(P_(Y))`, and <br/> (ii) MU falls as consumption increases. <br/> It happens when Raskesh purchases <a href="https://interviewquestions.tuteehub.com/tag/6-327005" style="font-weight:bold;" target="_blank" title="Click to know more about 6">6</a> units of Y and 2 units of X. At this combination<br/> `**` MU from last rupee (i.e., `8^(th)` rupee) spent on commodity X given the same satisfaction of <a href="https://interviewquestions.tuteehub.com/tag/10-261113" style="font-weight:bold;" target="_blank" title="Click to know more about 10">10</a> utils as given by last rupee (i.e., `<a href="https://interviewquestions.tuteehub.com/tag/7-332378" style="font-weight:bold;" target="_blank" title="Click to know more about 7">7</a>^(th)` rupee) spent on commodity Y, and <br/> `**` MU of each commodity falls as consumption increases. <br/> The total satisfaction of 107 utils `(=19 + 17 + 15 + 13 + 12 + <a href="https://interviewquestions.tuteehub.com/tag/11-267621" style="font-weight:bold;" target="_blank" title="Click to know more about 11">11</a> + 10 + 10)` will be obtained.</body></html> | |
| 6938. |
Which of the following is a statement of normative nature in economics ? (a) Economics is study of choices/alternatives (b) (c) According to an estimate, in spilt of severe shortage, more than 10% of houses in Indian cities are lying vacant (d) Accommodation of Refugees is posing a big problem for the Europe |
| Answer» <html><body><p>Economics is study of choices/alternatives<br/>Government should be concerned with how to reduce unemployment<br/>According to an estimate, in <a href="https://interviewquestions.tuteehub.com/tag/spilt-1222249" style="font-weight:bold;" target="_blank" title="Click to know more about SPILT">SPILT</a> of <a href="https://interviewquestions.tuteehub.com/tag/severe-630446" style="font-weight:bold;" target="_blank" title="Click to know more about SEVERE">SEVERE</a> shortage, more than 10% of <a href="https://interviewquestions.tuteehub.com/tag/houses-1030280" style="font-weight:bold;" target="_blank" title="Click to know more about HOUSES">HOUSES</a> in Indian cities are lying vacant <br/> Accommodation of Refugees is posing a <a href="https://interviewquestions.tuteehub.com/tag/big-896707" style="font-weight:bold;" target="_blank" title="Click to know more about BIG">BIG</a> problem for the <a href="https://interviewquestions.tuteehub.com/tag/europe-453616" style="font-weight:bold;" target="_blank" title="Click to know more about EUROPE">EUROPE</a> <br/></p>Solution :Govemment should be concerned with how to reduce unemployment</body></html> | |
| 6939. |
Briegly discuss the various reasons for economic problem |
| Answer» | |
| 6940. |
Define Marginal Rate of Substitution. Explain why is an indifference curve convex ? |
| Answer» <html><body><p></p>Solution :The <a href="https://interviewquestions.tuteehub.com/tag/mrs-549296" style="font-weight:bold;" target="_blank" title="Click to know more about MRS">MRS</a> of X for Y represents the amount of Y which the consumer has to give up for the gain of one 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 X so that his or her level of his or her <a href="https://interviewquestions.tuteehub.com/tag/utility-1441817" style="font-weight:bold;" target="_blank" title="Click to know more about UTILITY">UTILITY</a> (satisfaction) <a href="https://interviewquestions.tuteehub.com/tag/remains-621920" style="font-weight:bold;" target="_blank" title="Click to know more about REMAINS">REMAINS</a> the same. ... For example, if the consumer goes from D to E, then the marginal <a href="https://interviewquestions.tuteehub.com/tag/rate-1177476" style="font-weight:bold;" target="_blank" title="Click to know more about RATE">RATE</a> of substitution becomes 1.Indifference curves are convex to the origin because as the consumer begins to increase his or her use of one good over another, the curve represents the marginal rate of substitution.</body></html> | |
| 6941. |
In the context of index numbers, 1 stands for the ________ year. ""(base/ current) |
| 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> :<a href="https://interviewquestions.tuteehub.com/tag/current-940804" style="font-weight:bold;" target="_blank" title="Click to know more about CURRENT">CURRENT</a></body></html> | |
| 6942. |
Budget set inculdes: |
| Answer» <html><body><p>All those combinations of two goods which a <a href="https://interviewquestions.tuteehub.com/tag/consumer-25599" style="font-weight:bold;" target="_blank" title="Click to know more about CONSUMER">CONSUMER</a> <a href="https://interviewquestions.tuteehub.com/tag/already-1974237" style="font-weight:bold;" target="_blank" title="Click to know more about ALREADY">ALREADY</a> possesses<br/>All those combinations of two goods which a consumer cannot afford<br/>All those combinations two goods which a consumer is <a href="https://interviewquestions.tuteehub.com/tag/willing-2335259" style="font-weight:bold;" target="_blank" title="Click to know more about WILLING">WILLING</a> to buy<br/>All those combinations of two goods which a consumer can afford</p>Answer :D</body></html> | |
| 6943. |
Name the economic value achieved through the spread of education in the context of production potential. |
| Answer» <html><body><p></p>Solution :It will <a href="https://interviewquestions.tuteehub.com/tag/result-1187343" style="font-weight:bold;" target="_blank" title="Click to know more about RESULT">RESULT</a> in increase in <a href="https://interviewquestions.tuteehub.com/tag/efficiency-20674" style="font-weight:bold;" target="_blank" title="Click to know more about EFFICIENCY">EFFICIENCY</a> <a href="https://interviewquestions.tuteehub.com/tag/leading-1070220" style="font-weight:bold;" target="_blank" title="Click to know more about LEADING">LEADING</a> to <a href="https://interviewquestions.tuteehub.com/tag/economic-448435" style="font-weight:bold;" target="_blank" title="Click to know more about ECONOMIC">ECONOMIC</a> growth.</body></html> | |
| 6944. |
………………… measure of dispersion is known as coefficient of dispersion. (Absolute/Relative) |
| Answer» <html><body><p><br/></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/relative-1183377" style="font-weight:bold;" target="_blank" title="Click to know more about RELATIVE">RELATIVE</a></body></html> | |
| 6945. |
How is price elastictity of demand affected by the nature of the commodity ? |
| 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> :Price <a href="https://interviewquestions.tuteehub.com/tag/elasticity-14238" style="font-weight:bold;" target="_blank" title="Click to know more about ELASTICITY">ELASTICITY</a> of demand fornecessily <a href="https://interviewquestions.tuteehub.com/tag/goods-1009877" style="font-weight:bold;" target="_blank" title="Click to know more about GOODS">GOODS</a> is inelastic wherase, <a href="https://interviewquestions.tuteehub.com/tag/luxury-1081765" style="font-weight:bold;" target="_blank" title="Click to know more about LUXURY">LUXURY</a> goods have elastic demand.</body></html> | |
| 6946. |
Average cost will rise only when marginal cost rises. |
| 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. Rise in AC <a href="https://interviewquestions.tuteehub.com/tag/takes-1238575" style="font-weight:bold;" target="_blank" title="Click to know more about TAKES">TAKES</a> place when MC is <a href="https://interviewquestions.tuteehub.com/tag/greater-476627" style="font-weight:bold;" target="_blank" title="Click to know more about GREATER">GREATER</a> than AC and not necessarily when MC <a href="https://interviewquestions.tuteehub.com/tag/rises-1189694" style="font-weight:bold;" target="_blank" title="Click to know more about RISES">RISES</a>.</body></html> | |
| 6947. |
When price falls with rise in output , then Producer's Equilibrium is achieved at: |
| Answer» <html><body><p><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/e-444102" style="font-weight:bold;" target="_blank" title="Click to know more about E">E</a> <br/>Point F<br/>both (a) and (<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a>) <br/><a href="https://interviewquestions.tuteehub.com/tag/neither-1113494" style="font-weight:bold;" target="_blank" title="Click to know more about NEITHER">NEITHER</a> (a) nor (b) </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> :N/a</body></html> | |
| 6948. |
Give an example of decrease in resources. |
| 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/destruction-949662" style="font-weight:bold;" target="_blank" title="Click to know more about DESTRUCTION">DESTRUCTION</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> <a href="https://interviewquestions.tuteehub.com/tag/due-433472" style="font-weight:bold;" target="_blank" title="Click to know more about DUE">DUE</a> earthquake/cyclone.</body></html> | |
| 6949. |
Calculate the weighted mean of the following data: {:("Items",96,102,104,124,148,164),("Weight",5,6,3,7,12,9):} |
| 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> :<a href="https://interviewquestions.tuteehub.com/tag/weighted-1451397" style="font-weight:bold;" target="_blank" title="Click to know more about WEIGHTED">WEIGHTED</a> <a href="https://interviewquestions.tuteehub.com/tag/mean-1091459" style="font-weight:bold;" target="_blank" title="Click to know more about MEAN">MEAN</a> = 131.52</body></html> | |
| 6950. |
There are large number of buyers and sellers in |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/perfectly-7309466" style="font-weight:bold;" target="_blank" title="Click to know more about PERFECTLY">PERFECTLY</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> only<br/>Monopolistic Competition only<br/>Both (a) and (<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a>)<br/>Oligopoly</p>Solution :N/a</body></html> | |