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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.
| 7201. |
If two demand curves intersect, then the flatter curve is more elastic. |
| 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> :When two <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> curves <a href="https://interviewquestions.tuteehub.com/tag/intersect-1049831" style="font-weight:bold;" target="_blank" title="Click to know more about INTERSECT">INTERSECT</a>, then the flatter <a href="https://interviewquestions.tuteehub.com/tag/curve-941741" style="font-weight:bold;" target="_blank" title="Click to know more about CURVE">CURVE</a> is more <a href="https://interviewquestions.tuteehub.com/tag/elastic-967540" style="font-weight:bold;" target="_blank" title="Click to know more about ELASTIC">ELASTIC</a>.</body></html> | |
| 7202. |
Data originally collected in the process of investigation is known as ………………….. Data. (primary/Secondary) |
| 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/primary-1165403" style="font-weight:bold;" target="_blank" title="Click to know more about PRIMARY">PRIMARY</a></body></html> | |
| 7203. |
State 3 factors which affect price elasticity of demand. |
| Answer» <html><body><p></p>Solution :(i) Nature of commodity, (<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) Availability of substitutes , (<a href="https://interviewquestions.tuteehub.com/tag/iii-497983" style="font-weight:bold;" target="_blank" title="Click to know more about III">III</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> level.</body></html> | |
| 7204. |
Is the study of geneal proce level a macro economic study? |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/yes-749457" style="font-weight:bold;" target="_blank" title="Click to know more about YES">YES</a> it is a <a href="https://interviewquestions.tuteehub.com/tag/macro-17917" style="font-weight:bold;" target="_blank" title="Click to know more about MACRO">MACRO</a> <a href="https://interviewquestions.tuteehub.com/tag/economic-448435" style="font-weight:bold;" target="_blank" title="Click to know more about ECONOMIC">ECONOMIC</a> study as general price level is an <a href="https://interviewquestions.tuteehub.com/tag/aggregate-851607" style="font-weight:bold;" target="_blank" title="Click to know more about AGGREGATE">AGGREGATE</a> of the economy.</body></html> | |
| 7205. |
Differentiated Products is a characteristic of: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/monopolistic-2180801" style="font-weight:bold;" target="_blank" title="Click to know more about MONOPOLISTIC">MONOPOLISTIC</a> Comepetition only<br/>Oligopoly only<br/>Both Monopolistic <a href="https://interviewquestions.tuteehub.com/tag/competition-423521" style="font-weight:bold;" target="_blank" title="Click to know more about COMPETITION">COMPETITION</a> and Oligopoly<br/>Monopoly </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> | |
| 7206. |
state the three causes each for a rightward shift and a leftward shift of a demand curve. or Explin any three causes of a leftward shift of demand curve of a commodity. or State the causes of an increase in demand. Explain any two of them |
| Answer» <html><body><p></p>Solution :Factors leading to a <a href="https://interviewquestions.tuteehub.com/tag/leftward-540742" style="font-weight:bold;" target="_blank" title="Click to know more about LEFTWARD">LEFTWARD</a> shift in the demand curve :- <br/>1. Fall in the income of the consumer in case of a <a href="https://interviewquestions.tuteehub.com/tag/normal-1123860" style="font-weight:bold;" target="_blank" title="Click to know more about NORMAL">NORMAL</a> good.<br/>2. An unfavourable <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 tastes and prefernces of the consumer.<br/>3. Expectation of fall in price of the commodity in the <a href="https://interviewquestions.tuteehub.com/tag/near-1112277" style="font-weight:bold;" target="_blank" title="Click to know more about NEAR">NEAR</a> future.<br/> Factors leading to a rightward shift in the demand curve:- <br/>1. Increase in the income of the consumer in case of a normal good.<br/>2. A favourable change in tastes and prefernces of the consumer.<br/>3. Expectation of <a href="https://interviewquestions.tuteehub.com/tag/rise-1189674" style="font-weight:bold;" target="_blank" title="Click to know more about RISE">RISE</a> in price of the commodity in the near future.</body></html> | |
| 7207. |
….......... Are the conditions under which any law holds goods. |
| 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/assumptions-25708" style="font-weight:bold;" target="_blank" title="Click to know more about ASSUMPTIONS">ASSUMPTIONS</a></body></html> | |
| 7208. |
In temporal classification, data are classified on the basis of: |
| Answer» <html><body><p>location<br/>time<br/>originality<br/>purpose</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> | |
| 7209. |
Give any three point of difference between monopoly and monopolistic competition. |
| Answer» | |
| 7210. |
The slope of indifference curve is different at different points of the cruve |
| 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> :It happens because slope of indifference curve is <a href="https://interviewquestions.tuteehub.com/tag/measured-7257656" style="font-weight:bold;" target="_blank" title="Click to know more about MEASURED">MEASURED</a> by 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 <a href="https://interviewquestions.tuteehub.com/tag/substitution-1231654" style="font-weight:bold;" target="_blank" title="Click to know more about SUBSTITUTION">SUBSTITUTION</a>, which diminishes along the curve.</body></html> | |
| 7211. |
Following table offers an illustration of a frequency distribution. The table shows different class intervals (each showing a rangeof marks in Statistics) and the corresponding frequencies (each showing the number of students). |
| 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 clear from above table that frequency of class interval 10-15 is 4. It means that there are 4 students who have <a href="https://interviewquestions.tuteehub.com/tag/secured-7268045" style="font-weight:bold;" target="_blank" title="Click to know more about SECURED">SECURED</a> marks between 10-15. <a href="https://interviewquestions.tuteehub.com/tag/likewise-2157441" style="font-weight:bold;" target="_blank" title="Click to know more about LIKEWISE">LIKEWISE</a>, frequency of class interval 20-25 is 8 which means that there are 8 students who have secured marks between 20-25. But, it is not clear that how <a href="https://interviewquestions.tuteehub.com/tag/many-554478" style="font-weight:bold;" target="_blank" title="Click to know more about MANY">MANY</a> students have secured 10 marks in the class interval 10-15 and how many have secured 11 and 14 marks in the same class interval.</body></html> | |
| 7212. |
What does the following diagram represents ? |
| 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 Demand<br/>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> Demanded<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) or (b)</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> | |
| 7213. |
What is the nature of demand curve in cause fo monopolistic competition? |
| 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> Elastic<br/>Downward <a href="https://interviewquestions.tuteehub.com/tag/sloping-7378327" style="font-weight:bold;" target="_blank" title="Click to know more about SLOPING">SLOPING</a> and <a href="https://interviewquestions.tuteehub.com/tag/less-1071906" style="font-weight:bold;" target="_blank" title="Click to know more about LESS">LESS</a> elastic<br/>Downward sloping and more elastic<br/>Intermediate <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> curve</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> | |
| 7214. |
…………………….. Is the measure of the variation of the items. (Dispersion/Range) |
| 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/dispersion-956040" style="font-weight:bold;" target="_blank" title="Click to know more about DISPERSION">DISPERSION</a></body></html> | |
| 7215. |
Calculate coefficient of correlation between demand for a good and its price. |
| Answer» <html><body><p></p>Solution :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/ECO_XI_A_U03_C11_S01_002_S01.png" width="80%"/> <br/> `gamma=(NSigmaXY-(SigmaX)(SigmaY))/(<a href="https://interviewquestions.tuteehub.com/tag/sqrt-1223129" style="font-weight:bold;" target="_blank" title="Click to know more about SQRT">SQRT</a>(NSigmaX^(2)-(SigmaX)^(2))sqrt(NSigmaY^(2)-(SigmaY)^(2)))`<br/> `=((5xx575)-(140xx16))/(sqrt((5xx5050)-(<a href="https://interviewquestions.tuteehub.com/tag/140-273392" style="font-weight:bold;" target="_blank" title="Click to know more about 140">140</a>)^(2))sqrt((5xx66)-(<a href="https://interviewquestions.tuteehub.com/tag/16-276476" style="font-weight:bold;" target="_blank" title="Click to know more about 16">16</a>)^(2)))` <br/> `=(2875-2240)/(sqrt((25250-19600))sqrt((330-256)))` <br/> `=(635)/(sqrt(5650)xxsqrt(<a href="https://interviewquestions.tuteehub.com/tag/74-334795" style="font-weight:bold;" target="_blank" title="Click to know more about 74">74</a>))=(635)/(sqrt(5650xx74))=(635)/(sqrt(418100))=(635)/(646.6)=+0.98`</body></html> | |
| 7216. |
A train runs 25 miles at a speed of 30 mph, another 50 miles at a speed of 40 mph, then due to repairs of the track travels for 6 minutes at a speed of 10 mph and finally covers the remaining distance of 24 miles at a speed of 24 mph. What is the average speed in miles per hour? |
| Answer» <html><body><p></p>Solution :Time taken in covering 25 miles at a <a href="https://interviewquestions.tuteehub.com/tag/speed-1221896" style="font-weight:bold;" target="_blank" title="Click to know more about SPEED">SPEED</a> of 30 mph <br/>`"=50 minutes" (.:' "Time"="Distance"/"Speed")"` <br/> Time taken in covering 50 miles at a speed of <a href="https://interviewquestions.tuteehub.com/tag/40-314386" style="font-weight:bold;" target="_blank" title="Click to know more about 40">40</a> mph <br/> = 75 minutes <br/> Distance <a href="https://interviewquestions.tuteehub.com/tag/covered-2552266" style="font-weight:bold;" target="_blank" title="Click to know more about COVERED">COVERED</a> in 6 minutes at a speed of 10 mph = 1 mile <br/> Time taken in covering <a href="https://interviewquestions.tuteehub.com/tag/24-295400" style="font-weight:bold;" target="_blank" title="Click to know more about 24">24</a> miles at speed of 24 mph = 60 minutes. <br/> Therefore, <a href="https://interviewquestions.tuteehub.com/tag/taking-1238585" style="font-weight:bold;" target="_blank" title="Click to know more about TAKING">TAKING</a> the time taken as weights we have the weighted mean as: <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/TRJ_ECO_XI_C09_S01_023_S01.png" width="80%"/><br/> Weighted Mean, `barX_(W)=(sumWX)/(sumW)=(6,000)/(191)=31.41` <br/> Average Speed = 31.41 mph.</body></html> | |
| 7217. |
What is the relation between good x and good y in each case, if with a fall in price of x demand for good y (i) rises and (ii) falls ? Give reason. |
| 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> :(i) <a href="https://interviewquestions.tuteehub.com/tag/goods-1009877" style="font-weight:bold;" target="_blank" title="Click to know more about GOODS">GOODS</a> <a href="https://interviewquestions.tuteehub.com/tag/x-746616" style="font-weight:bold;" target="_blank" title="Click to know more about X">X</a> and y are complementary goods as with fall 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 x, demand for good y rises , (<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) Goods x and y are substitude goods as with fall in price of x, demand for good y also falls.</body></html> | |
| 7218. |
How does a firm under monopolistic competition exercise partial control over price? |
| Answer» <html><body><p></p>Solution :A monpolistic competitive firm enjoys partial control over <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a>. It happens because by incurring heavy the firm is able to create a diferentiated <a href="https://interviewquestions.tuteehub.com/tag/image-11684" style="font-weight:bold;" target="_blank" title="Click to know more about IMAGE">IMAGE</a> of its product in the minds of consumers. <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 difierentiated orn the basis of brand, size, colour, shape, <a href="https://interviewquestions.tuteehub.com/tag/etc-975753" style="font-weight:bold;" target="_blank" title="Click to know more about ETC">ETC</a> <a href="https://interviewquestions.tuteehub.com/tag/buyers-906447" style="font-weight:bold;" target="_blank" title="Click to know more about BUYERS">BUYERS</a> are attracted to buy a Parloulan produat even at a relatively higher price</body></html> | |
| 7219. |
Define oligopoly. Explain its features. |
| Answer» | |
| 7220. |
When does a demand curve shift? |
| 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 demand curve shifts when there is a change in other <a href="https://interviewquestions.tuteehub.com/tag/factors-458933" style="font-weight:bold;" target="_blank" title="Click to know more about FACTORS">FACTORS</a> affecting the demand for 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> other than the 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 commodity.</body></html> | |
| 7221. |
Define profits. |
| Answer» <html><body><p></p>Solution :The <a href="https://interviewquestions.tuteehub.com/tag/profits-1168748" style="font-weight:bold;" target="_blank" title="Click to know more about PROFITS">PROFITS</a> of a producer is defined as the <a href="https://interviewquestions.tuteehub.com/tag/difference-951394" style="font-weight:bold;" target="_blank" title="Click to know more about DIFFERENCE">DIFFERENCE</a> between <a href="https://interviewquestions.tuteehub.com/tag/total-711110" style="font-weight:bold;" target="_blank" title="Click to know more about TOTAL">TOTAL</a> revenue and total costs,<br/> i.e., ` "" ` Profit = <a href="https://interviewquestions.tuteehub.com/tag/tr-661737" style="font-weight:bold;" target="_blank" title="Click to know more about TR">TR</a> - TC. <br/> Profit is the same thing as abnormal profits or super normal profits.</body></html> | |
| 7222. |
Define real cost |
| Answer» <html><body><p></p>Solution :It refers to the <a href="https://interviewquestions.tuteehub.com/tag/pain-594235" style="font-weight:bold;" target="_blank" title="Click to know more about PAIN">PAIN</a>, sacrifice, <a href="https://interviewquestions.tuteehub.com/tag/discomfort-955407" style="font-weight:bold;" target="_blank" title="Click to know more about DISCOMFORT">DISCOMFORT</a> and disutility involved in providing factor services required to produce a commodity.Real costs refers to 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 producing a good or service, including the cost of all resources used and the cost of not employing those resources in alternative <a href="https://interviewquestions.tuteehub.com/tag/uses-722152" style="font-weight:bold;" target="_blank" title="Click to know more about USES">USES</a></body></html> | |
| 7223. |
If price of good 'X' rises and it leads to a fall in demand for good 'Y', then the two goods are : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/substitute-1231629" style="font-weight:bold;" target="_blank" title="Click to know more about SUBSTITUTE">SUBSTITUTE</a> goods<br/>Complementary goods<br/>Normal goods<br/>Inferior goods</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> | |
| 7224. |
A firm is able to sell more quantity of a good only by lowering the price. The firm's marginal revenue, as he goes on selling, would be : |
| Answer» <html><body><p>Greater than <a href="https://interviewquestions.tuteehub.com/tag/average-13416" style="font-weight:bold;" target="_blank" title="Click to know more about AVERAGE">AVERAGE</a> Revenue <br/>Less than Average Revenue <br/><a href="https://interviewquestions.tuteehub.com/tag/equal-446400" style="font-weight:bold;" target="_blank" title="Click to know more about EQUAL">EQUAL</a> to Average Revenue <br/><a href="https://interviewquestions.tuteehub.com/tag/zero-751093" style="font-weight:bold;" target="_blank" title="Click to know more about ZERO">ZERO</a> </p>Solution :N/A</body></html> | |
| 7225. |
What is meant by price elasticity of demand ? Explain any 2 factors that affect it. |
| Answer» <html><body><p></p>Solution :Price Elasticity of Demand is defined as the responsiveness of quantity demanded to a change in price.FACTORS AFFECTING ELASTICITY OF DEMAND1. Nature of the Good:The elasticity of demand for a good depends upon the nature of the good, i.e., whether the good is a necessary or a luxury good. The elasticity of demand for a necessary good is relatively small. For example, if the price of such a good rises, its buyers generally are not able to reduce its demand.2. Availability of Substitute <a href="https://interviewquestions.tuteehub.com/tag/goods-1009877" style="font-weight:bold;" target="_blank" title="Click to know more about GOODS">GOODS</a>:If close substitutes for a particular good are available in the market, then the demand for the good <a href="https://interviewquestions.tuteehub.com/tag/would-3285927" style="font-weight:bold;" target="_blank" title="Click to know more about WOULD">WOULD</a> be relatively more elastic. For example, since tea, a close substitute for coffee, is available in the market, a rise in the price of coffee would result in a <a href="https://interviewquestions.tuteehub.com/tag/considerable-929884" style="font-weight:bold;" target="_blank" title="Click to know more about CONSIDERABLE">CONSIDERABLE</a> fall in its demand and a consequent rise in the demand for tea.</body></html> | |
| 7226. |
What is increase in supply? |
| 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 refers to a <a href="https://interviewquestions.tuteehub.com/tag/rise-1189674" style="font-weight:bold;" target="_blank" title="Click to know more about RISE">RISE</a> in the <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 commodity due to favourable <a href="https://interviewquestions.tuteehub.com/tag/changes-913881" style="font-weight:bold;" target="_blank" title="Click to know more about CHANGES">CHANGES</a> in other factors, at the same price, e.g., when price of inputs <a href="https://interviewquestions.tuteehub.com/tag/falls-983294" style="font-weight:bold;" target="_blank" title="Click to know more about FALLS">FALLS</a>.</body></html> | |
| 7227. |
When income of the consumer falls, the impact on price-demand curve of an inferior good is : (choose the correct alternative) |
| Answer» <html><body><p>Shifts to the right<br/>Shift to the left <br/>There is upward movement <a href="https://interviewquestions.tuteehub.com/tag/along-1974109" style="font-weight:bold;" target="_blank" title="Click to know more about ALONG">ALONG</a> the curve <br/>There is <a href="https://interviewquestions.tuteehub.com/tag/downward-2061463" style="font-weight:bold;" target="_blank" title="Click to know more about DOWNWARD">DOWNWARD</a> movement along the curve</p>Answer :A</body></html> | |
| 7228. |
Difine patent rights. |
| Answer» | |
| 7229. |
In order to know the likings and dislikings of the listeners of the listeners of the programmes broadcast by the Himachal Akashvani, the letter is keen to collect data. Which method of collecting data will be suitable for it ? |
| Answer» <html><body><p>Direct <a href="https://interviewquestions.tuteehub.com/tag/personal-590834" style="font-weight:bold;" target="_blank" title="Click to know more about PERSONAL">PERSONAL</a> investigation <br/><a href="https://interviewquestions.tuteehub.com/tag/indirect-514760" style="font-weight:bold;" target="_blank" title="Click to know more about INDIRECT">INDIRECT</a> Oral Investigation <br/><a href="https://interviewquestions.tuteehub.com/tag/mailing-1083264" style="font-weight:bold;" target="_blank" title="Click to know more about MAILING">MAILING</a> Method <br/><a href="https://interviewquestions.tuteehub.com/tag/enumerator-452156" style="font-weight:bold;" target="_blank" title="Click to know more about ENUMERATOR">ENUMERATOR</a>'s Method </p>Solution :D</body></html> | |
| 7230. |
Cross demand is positive in case of substitude goods. |
| 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> :True, because demand for given commodity varies <a href="https://interviewquestions.tuteehub.com/tag/directly-955045" style="font-weight:bold;" target="_blank" title="Click to know more about DIRECTLY">DIRECTLY</a> with prices of <a href="https://interviewquestions.tuteehub.com/tag/substitude-3084245" style="font-weight:bold;" target="_blank" title="Click to know more about SUBSTITUDE">SUBSTITUDE</a> <a href="https://interviewquestions.tuteehub.com/tag/goods-1009877" style="font-weight:bold;" target="_blank" title="Click to know more about GOODS">GOODS</a>.</body></html> | |
| 7231. |
State one feature of oligopoly. |
| Answer» | |
| 7232. |
What is meant by highly elastic demand ? |
| Answer» <html><body><p></p>Solution :When <a href="https://interviewquestions.tuteehub.com/tag/percentage-13406" style="font-weight:bold;" target="_blank" title="Click to know more about PERCENTAGE">PERCENTAGE</a> change in the quantity demanded is more than the percentage change 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>, then demand for such a <a href="https://interviewquestions.tuteehub.com/tag/commodity-923558" style="font-weight:bold;" target="_blank" title="Click to know more about COMMODITY">COMMODITY</a> is said to be highly elastic .</body></html> | |
| 7233. |
Which of the following is a kind of partition value ? |
| Answer» <html><body><p>Arithmetic mean<br/><a href="https://interviewquestions.tuteehub.com/tag/median-1092401" style="font-weight:bold;" target="_blank" title="Click to know more about MEDIAN">MEDIAN</a><br/>Quartile<br/>all of these</p>Solution :a kind of <a href="https://interviewquestions.tuteehub.com/tag/partition-1148177" style="font-weight:bold;" target="_blank" title="Click to know more about PARTITION">PARTITION</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> -Arithmetic mean,Quartile,Median</body></html> | |
| 7234. |
After reaching the point of equilibrium, consumer would not like to change his allocation of expenditure on Goods X and Y ever if price of Good X changes. Do you agree ? Comment |
| Answer» <html><body><p></p>Solution :No, I do not agree with 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. A consumer achieves equilibrium when `(MU_(X))/(P_(X)) = (MU_(Y))/(P_(Y))` <br/> Now, if price of Good `X (P_(x))` charges, then the equilibrium condition will be disturbed. <br/> In case `P_(x)` increase, `(MU_(X))/(P_(X)) lt (MU_(Y))/(P_(Y))`. This <a href="https://interviewquestions.tuteehub.com/tag/would-3285927" style="font-weight:bold;" target="_blank" title="Click to know more about WOULD">WOULD</a> <a href="https://interviewquestions.tuteehub.com/tag/induce-499186" style="font-weight:bold;" target="_blank" title="Click to know more about INDUCE">INDUCE</a> the consumer to buy more of Y in <a href="https://interviewquestions.tuteehub.com/tag/place-1155224" style="font-weight:bold;" target="_blank" title="Click to know more about PLACE">PLACE</a> of X. <br/> In case `P_(x)` decrease, `(MU_(X))/(P_(X)) <a href="https://interviewquestions.tuteehub.com/tag/gt-1013864" style="font-weight:bold;" target="_blank" title="Click to know more about GT">GT</a> (MU_(Y))/(P_(Y))`. This would induce the consumer to buy more of X in place of Y.</body></html> | |
| 7235. |
Define average revenue. |
| 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> revenue is defined as the revenue per unit 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> <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> | |
| 7236. |
How do changes in marginal revenue affect total revenue ? |
| Answer» <html><body><p></p>Solution :MR is the change in total <a href="https://interviewquestions.tuteehub.com/tag/revenue-1188040" style="font-weight:bold;" target="_blank" title="Click to know more about REVENUE">REVENUE</a> when one more unit of output is sold. In other words, MR is the rate of change of TR.So, when (i) MR is <a href="https://interviewquestions.tuteehub.com/tag/positive-1159908" style="font-weight:bold;" target="_blank" title="Click to know more about POSITIVE">POSITIVE</a> and is increasing, TR increases at an increasing rate. (<a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>) MR is positive but is <a href="https://interviewquestions.tuteehub.com/tag/decreasing-946148" style="font-weight:bold;" target="_blank" title="Click to know more about DECREASING">DECREASING</a>, TR increases at a diminishing rate. (iii) MR is zero, TR is constant. (iv) MR becomes negative, TR <a href="https://interviewquestions.tuteehub.com/tag/starts-1224822" style="font-weight:bold;" target="_blank" title="Click to know more about STARTS">STARTS</a> falling.</body></html> | |
| 7237. |
Discuss the primary reason for'indeterminateness of demand curve' under the oligopoly form of market |
| Answer» <html><body><p></p>Solution :Under oligopoly, the exact <a href="https://interviewquestions.tuteehub.com/tag/behavior-894571" style="font-weight:bold;" target="_blank" title="Click to know more about BEHAVIOR">BEHAVIOR</a> pattern of a producer cannot be determined with <a href="https://interviewquestions.tuteehub.com/tag/certainty-913507" style="font-weight:bold;" target="_blank" title="Click to know more about CERTAINTY">CERTAINTY</a>. So, demand curve faced by oligopolist is indeterminate(<a href="https://interviewquestions.tuteehub.com/tag/uncertain-1436197" style="font-weight:bold;" target="_blank" title="Click to know more about UNCERTAIN">UNCERTAIN</a>). As firms are interdependent, a firm cannot ignore the reaction of the rival firms. Any change in price by one firm <a href="https://interviewquestions.tuteehub.com/tag/may-557248" style="font-weight:bold;" target="_blank" title="Click to know more about MAY">MAY</a> lead to change in prices by the competing firms. So, demand curve keeps on shifting and it is not definite, rather it is indeterminate.</body></html> | |
| 7238. |
AR and price are one and the same thing. |
| 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> :True : <a href="https://interviewquestions.tuteehub.com/tag/ar-380980" style="font-weight:bold;" target="_blank" title="Click to know more about AR">AR</a> = `(TR)/("Quantity")=("Quantity"xx"<a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a>")/("Quantity")`=Price.</body></html> | |
| 7239. |
When does government intervene to fix maximum price of commodity (Price ceiling) ? |
| Answer» <html><body><p><br/></p>Solution :Government resorts to price-ceiling when it is <a href="https://interviewquestions.tuteehub.com/tag/considered-7257760" style="font-weight:bold;" target="_blank" title="Click to know more about CONSIDERED">CONSIDERED</a> that the market equilibrium price is too <a href="https://interviewquestions.tuteehub.com/tag/high-479925" style="font-weight:bold;" target="_blank" title="Click to know more about HIGH">HIGH</a> in <a href="https://interviewquestions.tuteehub.com/tag/comparision-925408" style="font-weight:bold;" target="_blank" title="Click to know more about COMPARISION">COMPARISION</a> to the desired level and is beyond the reach of a common <a href="https://interviewquestions.tuteehub.com/tag/man-1085541" style="font-weight:bold;" target="_blank" title="Click to know more about MAN">MAN</a>. In order to protect the interest of buyers, government <a href="https://interviewquestions.tuteehub.com/tag/undertakes-7720265" style="font-weight:bold;" target="_blank" title="Click to know more about UNDERTAKES">UNDERTAKES</a> this option in case of necessary goods like food items,medicines, hourse rents etc. This exercise by the government is undertaken in times of decline in the availability of goods or shortages.</body></html> | |
| 7240. |
Fisher's index number is consideredideal because: |
| Answer» <html><body><p>it is <a href="https://interviewquestions.tuteehub.com/tag/based-389387" style="font-weight:bold;" target="_blank" title="Click to know more about BASED">BASED</a> on variableweights<br/>it <a href="https://interviewquestions.tuteehub.com/tag/satisfies-1195235" style="font-weight:bold;" target="_blank" title="Click to know more about SATISFIES">SATISFIES</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> <a href="https://interviewquestions.tuteehub.com/tag/reversal-1188134" style="font-weight:bold;" target="_blank" title="Click to know more about REVERSAL">REVERSAL</a> Test<br/>it satisfiesFactor Reversal Test<br/>all of these</p>Answer :D</body></html> | |
| 7241. |
Form the given demand schedule, determine the effect on demand curve {:("Price (Rs.)",20,20),("Demand (Units)",100,70):} |
| Answer» <html><body><p>Rightward shift 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> curve<br/>Left shift in Demand curve<br/>Upward <a href="https://interviewquestions.tuteehub.com/tag/movement-1104563" style="font-weight:bold;" target="_blank" title="Click to know more about MOVEMENT">MOVEMENT</a> <a href="https://interviewquestions.tuteehub.com/tag/along-1974109" style="font-weight:bold;" target="_blank" title="Click to know more about ALONG">ALONG</a> the demand curve<br/>Downward Movement along the demand curve</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> | |
| 7242. |
_______ is the extension of "Law of Diminishing Returns". |
| Answer» <html><body><p>Law of Variable Proportions<br/>Law of Demand<br/>Law of Equi-marginal 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> Marginal Utility</p>Solution :A. Law of Variable Proportionsis the <a href="https://interviewquestions.tuteehub.com/tag/extension-981025" style="font-weight:bold;" target="_blank" title="Click to know more about EXTENSION">EXTENSION</a> of Law of Diminishing Returns.</body></html> | |
| 7243. |
Identify positive or normative statements from the following : Inflow of foreign capital shifts PPC to its right. |
| 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/positive-1159908" style="font-weight:bold;" target="_blank" title="Click to know more about POSITIVE">POSITIVE</a> <a href="https://interviewquestions.tuteehub.com/tag/statements-17642" style="font-weight:bold;" target="_blank" title="Click to know more about STATEMENTS">STATEMENTS</a> because it is <a href="https://interviewquestions.tuteehub.com/tag/fact-982736" style="font-weight:bold;" target="_blank" title="Click to know more about FACT">FACT</a></body></html> | |
| 7244. |
Define monopolist competition,Briefly discuss the various feactures of monopolist competition. |
| Answer» <html><body><p></p>Solution :Monopolistic Competition refers to a market situation in which there are large no. of firms which sell closely related but differentiated products.The features of Monopolistic Competition are as follows:1) Large no. of Sellers: There are large no. of firms selling closely related, but not homogeneous products. Each firm acts independently and has a limited share of the market. So, an individual firm has limited control over the market price. Large no. of firms leads to competition in the market.2) Product differentiation: Each firm is in a position to exercise some degree of monopoly through product differentiation. Product differentiation refers to differentiating the products on the basis of brand, <a href="https://interviewquestions.tuteehub.com/tag/size-1211196" style="font-weight:bold;" target="_blank" title="Click to know more about SIZE">SIZE</a>, color, shape, etc. The product of a firm is close, but not substitute of other firm.3) Selling Costs: Under Monopolistic Competition, products are differentiated and these differences are made known to thebuyers through selling costs. Selling costs refer to the expenses incurred on marketing, sales promotion and advertisement of the product. Such costs are incurred to persuade the buyers to buy a particular brand of the product in preference to competitor's brand. Due to this reason, selling costs constitute a substantial part of the total cost under Monopolistic Competition.4) 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 enter 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 leaving 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 leads to fall in the price of the product. This continues till each firm is earning only normal profit. The existing firm leave when they face 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.5) Lack of perfect knowledge: Buyers & Sellers do not have perfect knowledge about the market conditions. Selling costs create artificial superiority in the minds of the consumers and it becomes very difficult for a consumer to evaluate different products available in themarket. As a result, a particular product is preferred by the consumers even if other less priced products are of same quality.6) Pricing Decision: A firm under monopolistic competition is neither a price taker nor a price maker. However, by producing a unique product or establishing a particular <a href="https://interviewquestions.tuteehub.com/tag/reputation-1185572" style="font-weight:bold;" target="_blank" title="Click to know more about REPUTATION">REPUTATION</a> each firm has partial control over the price. The extent of power to control price depends upon how strongly the buyers are attracted to his brand.7) Non-price Competition: In <a href="https://interviewquestions.tuteehub.com/tag/addition-367641" style="font-weight:bold;" target="_blank" title="Click to know more about ADDITION">ADDITION</a> to price competition, non- price competition also exists under Monopolistic Competition. Non-price competition refers to competing with other firms by offering free gifts, making favorable credit terms, etc, <a href="https://interviewquestions.tuteehub.com/tag/without-3281350" style="font-weight:bold;" target="_blank" title="Click to know more about WITHOUT">WITHOUT</a> changing prices of their own products.</body></html> | |
| 7245. |
State any three assumptions on which a 'Production Possibilities Curve' is bases. |
| Answer» <html><body><p></p>Solution :The <a href="https://interviewquestions.tuteehub.com/tag/four-464592" style="font-weight:bold;" target="_blank" title="Click to know more about FOUR">FOUR</a> key assumptions underlying <a href="https://interviewquestions.tuteehub.com/tag/production-14556" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCTION">PRODUCTION</a> possibilities analysis are: (1) resources are used to produce one or both of only two goods, (<a href="https://interviewquestions.tuteehub.com/tag/2-283658" style="font-weight:bold;" target="_blank" title="Click to know more about 2">2</a>) the quantities of the resources do not <a href="https://interviewquestions.tuteehub.com/tag/change-913808" style="font-weight:bold;" target="_blank" title="Click to know more about CHANGE">CHANGE</a>, (3) technology and production techniques do not change.</body></html> | |
| 7246. |
Explain the conditions of producer's equilibrium. |
| 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> :N/a</body></html> | |
| 7247. |
What is 'market' demand ? State four factors causing 'increase' in market demand. |
| Answer» <html><body><p></p>Solution :Market Demand refers to the quantity of a <a href="https://interviewquestions.tuteehub.com/tag/commodity-923558" style="font-weight:bold;" target="_blank" title="Click to know more about COMMODITY">COMMODITY</a> that all <a href="https://interviewquestions.tuteehub.com/tag/consumers-14615" style="font-weight:bold;" target="_blank" title="Click to know more about CONSUMERS">CONSUMERS</a> are <a href="https://interviewquestions.tuteehub.com/tag/willing-2335259" style="font-weight:bold;" target="_blank" title="Click to know more about WILLING">WILLING</a> and able to buy, at each <a href="https://interviewquestions.tuteehub.com/tag/possible-592355" style="font-weight:bold;" target="_blank" title="Click to know more about POSSIBLE">POSSIBLE</a> price during a specific <a href="https://interviewquestions.tuteehub.com/tag/period-1151023" style="font-weight:bold;" target="_blank" title="Click to know more about PERIOD">PERIOD</a> of time.<br/>The factors causing an increase in market demand are :- <br/>(i) Increase in price of substitue goods.<br/>(ii) Fall in price of complementary goods.<br/>(iii) Increase in income of all the consumers.<br/>(iv) A favourable change in Tastes and Prefernces of the consumers.</body></html> | |
| 7248. |
Under what market condition does average Revenues always equal to Marginal Revenues ? Explain. |
| 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> :Under <a href="https://interviewquestions.tuteehub.com/tag/perfect-1150611" style="font-weight:bold;" target="_blank" title="Click to know more about PERFECT">PERFECT</a> competition the average <a href="https://interviewquestions.tuteehub.com/tag/revenue-1188040" style="font-weight:bold;" target="_blank" title="Click to know more about REVENUE">REVENUE</a> is equal to marginal revenue. This is because the firm can <a href="https://interviewquestions.tuteehub.com/tag/sell-1200244" style="font-weight:bold;" target="_blank" title="Click to know more about SELL">SELL</a> an extra unit at the same price. Hence average revenue or price is equal to the marginal revenue.</body></html> | |
| 7249. |
What is the maximum point of TP ? |
| Answer» <html><body><p>When <a href="https://interviewquestions.tuteehub.com/tag/ap-380277" style="font-weight:bold;" target="_blank" title="Click to know more about AP">AP</a> becomes zero<br/>When <a href="https://interviewquestions.tuteehub.com/tag/mp-565167" style="font-weight:bold;" target="_blank" title="Click to know more about MP">MP</a> becomes zero<br/>When MP cuts AP<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> | |
| 7250. |
Define monopoly. |
| Answer» <html><body><p></p>Solution :It refers to a market situation where there is a <a href="https://interviewquestions.tuteehub.com/tag/single-644669" style="font-weight:bold;" target="_blank" title="Click to know more about SINGLE">SINGLE</a> seller <a href="https://interviewquestions.tuteehub.com/tag/selling-25929" style="font-weight:bold;" target="_blank" title="Click to know more about SELLING">SELLING</a> a <a href="https://interviewquestions.tuteehub.com/tag/product-25523" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCT">PRODUCT</a> which has no close <a href="https://interviewquestions.tuteehub.com/tag/substitutes-1231649" style="font-weight:bold;" target="_blank" title="Click to know more about SUBSTITUTES">SUBSTITUTES</a>. The firm is a <a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> maker.</body></html> | |