InterviewSolution
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InterviewSolution
This section includes InterviewSolutions, each offering curated multiple-choice questions to sharpen your Class 11 knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
Why do MOC always increases? |
| Answer» Because more and more units of commodity are sacrificed to gain additional unit of another commodity. | |
| 52. |
What is ment by price elasticity of demand?explain any two factors taht effect it. |
| Answer» Nature of commodity : necessaries like salt have inelastic demand .luxuries like:air conditioners have elastic demand.Time period :demand is inelastic in short period ,elastic in long period .<br>Price elasticity of demand is a measurement of degree of change in demand when own price of commodity changes | |
| 53. |
Define consumer equilibrium and write the assumption of consumer equilibrium? |
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| 54. |
Feature of statistics |
| Answer» Chapter measure and dispersion | |
| 55. |
What is statistic?explain with five points |
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| 56. |
give any two sources of primary data |
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| 57. |
Difference between micro macro economy |
| Answer» Micro means small.Macro means large. | |
| 58. |
Hulle hulare hule hullle |
| Answer» What is this yar??? | |
| 59. |
numerical example of production function |
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| 60. |
What is importance of statistics in economics |
| Answer» Many important of statistics :to collect the data | |
| 61. |
How much good one of the consumer consume if she spins her entire income on that good |
| Answer» Till her maximum satisfication | |
| 62. |
3 example of law of variable proportion in your daily life |
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| 63. |
What is production function and returns to a favtor |
| Answer» Production function of a firm is a functional relationship between inputs used and output produced by the firm. Returns to a factor relate to the short period production function when one factor is varied keeping the other factor fixed in order to have more output | |
| 64. |
What is survey |
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| 65. |
Chapter 1 statistics of economicsWho will you choose to be satisfied? |
| Answer» Human wants\xa0to refer to our desire for\xa0goods and services and for which we have the ability to buy. Human wants are unlimited, whereas the means to satisfy these wants are not only limited but have alternate uses also. The Scarcity of resources is one of the main reasons for all economic problems. Since the resources to satisfy our wants are limited, i.e. the supply of these resources are less as compared to their demand, we have to choose\xa0the best alternative to which these resources can be put. In other words, we have to decide which wants are to\xa0be fulfilled by utilising the given resources for choosing, we can rank the wants according to our priorities. The want which appears high on the priority list and for which we have the ability to pay will be first chosen to be satisfied. | |
| 66. |
What is policies |
| Answer» Measures which are adopted to solve an economic problem such measures are know as policies | |
| 67. |
What do you undrrstand by consumer equilibrium.show it with the help of indifference curve analysis |
| Answer» Consumer Equilibrium : It is a situation when the consumer gets maximum satisfaction with the given income and the given market prices. Indifference curve approch of consumers equillibrium:\xa0According to the indifference curve analysis, consumer\'s equilibrium is at a point where the slope of indifference curve is equal to the slope of budget line or price line.Two conditions of the consumer\'s equilibrium are :\tIndifference curve must be tangent to the budget line which means that the slope of indifference curve Should be\xa0equal to the slope of budget line. Marginal Rate of Substitution of X on Y= ratio of the prices of the two goods i. e.\xa0{tex}\\left( M R S _ { x y } \\right) = \\frac { \\text { Price of } X \\left( P _ { x } \\right) } { \\text { Price of } Y \\left( P _ { y } \\right) }{/tex}\tAt the point of MRS =Px/Py, indifference curve must be convex to the origin. It implies that at the point of equilibrium, MRS must be diminishing i.e. the rate at which one good is sacrificed for another should be falling.\xa0In the diagram given, P is the equilibrium point at which budget line touches the higher Indifference Curve IC2, within the consumer budget.\tPoint A could not be the point of equilibrium because at point A, MRS > Px / Py.\xa0Hence consumer will prefer to consume more of good X and less of good Y, as a result, Marginal utility of X (MUX) will fall and Marginal utility of Y (MUy) will rise, this process will continue till the time MRS =PX/Py.\tAt point B MRS < Px/Py,\xa0hence consumer will demand more of good Y and less of good X.\xa0Because of this MUX will rise and MUy will fall till the time MRS =PX/Py. So, the consumer will be at equilibrium only at point P.\xa0 | |
| 68. |
What precaution needed in secondary data |
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| 69. |
Distinguish between cardinal and ordinal measurement of utility |
| Answer» \tBasisCardinal UtilityOrdinal UtilityMeaningIt explains that the satisfaction level after consuming a good or service can be scaled in terms of countable numbers.It explains that the satisfaction after consuming a good or service cannot be scaled in numbers, however, these things can be arranged in the order of preference.ExampleSam submits pizza gives him 60 utils of satisfaction whereas burger gives only 40 utils.Sam submit, he gets more satisfaction from Pizzas as compare to the burger.Measurement‘Utility’ is measured on the basis of ‘utils’‘Utility’ is ranked on the basis of “satisfaction”RealisticIt is less practical.It is more practical and sensible.Used byThis theory was applied by Prof. MarshallThis theory was applied by Prof. J R Hicks\t<br>What precaution needed in secondary data | |
| 70. |
Define normative and define positive |
| Answer» Normative economics deals with what ought to be based on value judgments. It is used to judge whether the economic events are desirable or not.\xa0Positive economics\xa0is objective and fact based, while\xa0normative economics\xa0is subjective and value based.Positive economic statements must be able to be tested and proved or disproved. Normative economic\xa0statements are opinion based, so they cannot be proved or disproved. | |
| 71. |
What is cyclic unemployment? |
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| 72. |
What is data in 1marks |
| Answer» Any usefull information is known as data | |
| 73. |
How to calculate mean graphically |
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| 74. |
Why MUx/Px=MUy/Py |
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| 75. |
ncert sol of chap demand exercise all question and answers of class11th |
| Answer» You can check NCERT Solutions here :\xa0https://mycbseguide.com/ncert-solutions.html | |
| 76. |
Fuller uttilisation |
| Answer» Fuller utilisation of resources refers to a situation where the resources are used in a best possible manner. Generally any point on the production possibility curve will be fuller utilisation of resources. So, points on PPF the economy operates means resources are fully and efficiently used. | |
| 77. |
Cbse learning by doing questions |
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| 78. |
What do you mean by monotonic prefer ence |
| Answer» An agent\'s preferences are said to be strongly monotonic if, given a consumption bundle , the agent prefers all consumption bundles that have more of at least one good, and not less in any other good.<br>monotonic preference mean that a rational consumer always prefers more of a commodity as it offers him higher level of satisfaction | |
| 79. |
What is long run production function and short run production function ?? |
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| 80. |
How we can decide the size of class intrvel? |
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| 81. |
Define statistics as a singular noun and as a plural noun |
| Answer» In a singular sense statistics means method of collecting, organising, presenting, and analysis of data.In plural sense statistics means numerical facts systematically collected. | |
| 82. |
Explain briefly the concept of consumer budget ? 3/4 marks question |
| Answer» Consumers\'s budget refers to the total amount of money that the consumer can afford to spend on consumption of different goods and services given his/her limited income.\xa0 | |
| 83. |
What is the relation between good X and Y if fall in price of X demand for good Y increase |
| Answer» They are complementary goods<br>Economics | |
| 84. |
Mention and briefly classify the economic activities and explain them |
| Answer» Classification of economic sectors on the basis of economic of activities are as follows :(i) Primary sector : When we produce goods by exploiting natural resources, it is an activity of the primary sector, such as agriculture, dairy farming, fishing, forestry.\xa0(ii) Secondary sector: In this, natural products are changed into other forms through manufacturing that we associate with industrial activity. The product is not produced by nature but has to be made and therefore, some process of manufacturing is essential. For example, using cotton fibre from the plant we spin, yarn and weave cloth.(iii) Tertiary sector : It helps in the development of the primary and secondary sectors. They provide aid or a support for the production process. Transport, storage, communication, banking, trade are some examples of tertiary activities.\xa0 | |
| 85. |
Marit and demarit of sample method |
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| 86. |
growth and development are related but different consept ? |
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| 87. |
What is fragile economy |
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| 88. |
Why classification is important |
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| 89. |
Define demand |
| Answer» Demand is defined as the quantity of a commodity that a consumer is willing and able to purchase m the market in a given period of time and at each possible price.E.g. a consumer demands 5 kg of sugar m a month at a price of Rs 40 per kg. | |
| 90. |
What is mean by questionnaire |
| Answer» A questionnaire is a list of questions relating to the field of enquiry. A questionnaire can be either a mailed questionnaire or a questionnaire filled by an enumerator. It is an\xa0instrument of collecting primary data from a large number of people. Mailed questionnaires are sent to the respondents along with a covering letter whereas the enumerator fills the questionnaire personally by visiting the respondents.\xa0 | |
| 91. |
Can i get a sample paper of introductory microeconomics of chapter 1 and 2 only |
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| 92. |
In how many types is Discrete , continuous and Individual series is classified? |
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| 93. |
What are the central problems of economy |
| Answer» What to produce how to produce and for whom to produce are the following Central problems of an economy<br>1.lack of resources or limited resources 2.unlimted wants3.alternative use | |
| 94. |
The price of elasticity of demand commodity x 6% |
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| 95. |
Plzz show me how to do short cut method and step deviation method by showing a short video |
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| 96. |
Define statistics and its nature |
| Answer» statistics in singular sense may be defined as the collection presentation analysis and interpretation of numerical data | |
| 97. |
What is demand? Explain all its types in detail. |
| Answer» demand is the quantity of a commodity that a consumer is willing and able to buy at each possible price during a given period of time<br>Demand>supply | |
| 98. |
Why p1x1+p2x2 |
| Answer» BhhhjhgugiH | |
| 99. |
Scarcity causes economic problems.how |
| Answer» Scarcity means shortage of resources in relation to their demand, which implies that resources are limited which have alternate uses.In this situation, every economy whether developed or developing has to face problem of choice i.e, how to utilise or select the resources in such a manner to satisfy maximum human unlimited wants.Which is known as economic problem. | |
| 100. |
How do make questionaire..?? |
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