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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.
| 1001. |
Difference between indifference set and indifference curve with basis |
| Answer» Indifference\xa0Set :\xa0It is a set of those combination of two goods which offer the consumer the same level of satisfaction, so that, the consumer is indifferent across any number of combination in his indifference set.\xa0Monotonic Preferences :\xa0onotonic preferences refers to a situation where the consumer will prefer more quantity of commodities than lesser quantity. | |
| 1002. |
Merits and demerits of arithmetic mean |
| Answer» Merits of Arithmetic Mean :(i) To present a brief picture of data : The main purpose of average is to present a simple and systematic description of the data.(ii) To represent the universe : It also helps to obtain a picture of a complete group.(iii) Basis of statistical analysis : It is the basis of statistical analysis and analyze the data.(iv) To facilitate comparison : It helps in comparing the data of various categories.Demerits of Arithmetic Mean :(i) The arithmetic mean is highly affected by extreme values.(ii) It cannot average the ratios and percentages properly.(iii) It is not an appropriate average for highly skewed distributions.(iv) It cannot be computed accurately if any item is missing. | |
| 1003. |
Define increase in demand. what causes increase in demand? |
| Answer» if the other things, that is, determinants of demand other than price such as consumers’ tastes and preferences, income, price of the related goods change, the whole demand curve will change. When due to the changes in these other factors, the demand curve shifts upwards, increase in demand is said to have occurred.Increase in demand means the consumer buys more of the good at various prices than before. For example, if the income of a consumer increases, or if the fashion for a goods increases, the consumer will buy greater quantities of the goods than before at various given prices. As a result the whole demand curve will shift upward.In brief increase in demand occurs due to the following reasons:-(i) The fashion for a goods increases or people’s tastes and preferences become more favourable for the good;(ii) Consumer’s income increases.(iii) Prices of the substitutes of the goods in question have risen.(iv) Prices of complementary goods have fallen. | |
| 1004. |
Total product increases only when its slope increases. Do you agree? Give your reason. |
| Answer» | |
| 1005. |
Explain how to produce as central problem of an economy. |
| Answer» How to produce?This aspect deals with the process or technique by which the goods and services can be produced. Generally, there are two techniques that can be used for producing, which are:\tLabour Intensive Techniques\tCapital Intensive TechniquesThe choice of technique for production depends on the availability of the resource in that nation, and hence resource allocation becomes a challenge.<br>An economic problem generally means the problem of making choices which occurs because of the scarcity of resources. The economic problem arises because people have unlimited desires but the means to satisfy that desire is limited. Therefore, satisfying all human needs are difficult with limited means.Causes of Economic Problem\tScarcity of Resources-\xa0Resources like labor, land, and capital, etc. are insufficient as compared to the demand. Therefore, the economy cannot provide everything that people want.\tUnlimited Human Wants-\xa0Human beings demands and wants are unlimited and never ends, which means they will never be satisfied. If a person one wants is satisfied, they will start tempting some new desires. People wants are unlimited and keep multiplying, therefore, cannot be satisfied because of limited resources.\tAlternative Uses-\xa0Resources being scarce they are put into different uses. So, to make a choice among resources are essential. For instance, petrol is not only used in a vehicle but it is also used for generator, running machine, etc. So, now the economy should make a choice within the alternative uses. | |
| 1006. |
Using schedule and diagram discuss the relationship between TC , TFC , TVC . |
| Answer» \tOutputFixed CostVariable CostTotal Cost04004014020602403070340327244034745403676640387874040808404686\t\tWe see that the Fixed Cost remains the same even as production increases from 0 to 8 units. Thus the value of FC = 40\tIt can be noted that the Variable Cost increases as the output increases. The VC increases at a diminishing rate till 7 units of output, after which it starts increasing at an increasing rate.\tThe final column shows the\xa0Total Cost\xa0which is the sum of FC and VC and increases as the output increases. | |
| 1007. |
Depreciation is: (1)(i) Explicit cost (ii) Implicit cost(iii) Fixed cost (iv) Variable cost |
| Answer» Explicit cost<br>The costs which involve outflow of cash due to the use of factors of production is known as Explicit Cost. Depreciation is a Deemed Explicit Cost, as the cost of the asset is apportioned during the useful life of the asset.\xa0 | |
| 1008. |
What is meant by return to a factor? |
| Answer» <article data-post-id="11043" data-topic-id="8766" data-user-id="2" id="post_2">Returns to a factor It refers to the behaviour of output when only one variable factor of production is increased in short-run and fixed factors remain constant.Law of diminishing returns to a factor It refers to a situation in which total output increases at a diminishing rate when more and more variable factor is combined with the fixed factor of production. In this situation, Marginal Product of the variable factor must be diminishing.<section><nav><button aria-label="like this post" title="like this post"></button><button aria-label="share a link to this post" data-post-number="2" data-share-url="/t/what-is-meant-by-returns-to-a-factor/8766/2" title="share a link to this post"></button></nav></section><section>\xa0</section></article> | |
| 1009. |
Bar diagram is a?? |
| Answer» It\'s a way of presenting data in the form of bars... Using this one can easily draw comparisons and make fast conclusions..<br>Bar diagram can be defined as a chart or graphical representation of data,quantity or number using bar . | |
| 1010. |
different between exclusive and inclusive series\' |
| Answer» Exclusive method:\xa0This method is used for those series in which the upper limit of one class becomes the lower limit of the next class interval.Example 0-5, 5-10, 10-20, 20-30.\xa0\xa0Inclusive method:Under this method, the classes are formed in such a manner\xa0that the upper limit of a class interval does not repeat itself as the lower limit of the next class interval.Example 0-5, 6-10, 11-15 | |
| 1011. |
What are the main method of collecting primary data? |
| Answer» A n s w e rThe main method of collecting primary data are as mentioned below:(i) Direct personal investigation.(ii) Indirect investigation(iii) Information through mailed Questionnaire.(iv) Questionnaire through enumerators. | |
| 1012. |
How can the distrust of statistics be removed? |
| Answer» Following are the remedies to remove distrust statistics:\xa0\tNeed of caution.\xa0\tStatistical limitations should be taken into consideration.\xa0\tSelf-restraint.\tThat is self-control in statistical fallacies.\xa0\tStatistics must be used by experts.\xa0\tAnalytical study of data before its use. | |
| 1013. |
Explain briefly the method of studying statistics |
| Answer» the method of studying statisticsA n s w e rThe important statistical methods are as follows:1. Collection,2. summarisation,\xa03. presentation,\xa04. analysis and\xa05. interpretation of data.\xa0 | |
| 1014. |
only net investment not gross investment shows changes in stock of capital . defend |
| Answer» | |
| 1015. |
Only net investment, not gross investment shows change in stock of capital. Defend. |
| Answer» | |
| 1016. |
What is the other name of ` point of origin` |
| Answer» Source, root | |
| 1017. |
How to construct a histogram of unequal class interval |
| Answer» For constructing histogram of unequal class-intervals, first we note a class of the smallest intervals. Other classes are noted in the increasing order of their intervals. If the size of one class-interval is twice the smallest size in the series, frequency of that class is divided by two. Suppose the class with the smallest interval is 5 – 10 and the class with the largest interval is 10 – 20, the frequency of which is 12. Here the class interval of the bigger class is 10 which is twice as much as the size of the class-interval of the smallest class i.e. 5. The bigger class interval is divided into two parts 10 – 15 and 15 – 20 and accordingly the frequency of the bigger class, 12 would be divided by 2 i.e. 12+ 6. In this way there will be following adjustment.\xa0\tClass-intervalFrequency10 – 15615 – 206\t | |
| 1018. |
Explain the process to select a sample of 5 students from a population of 25 by random method |
| Answer» The procedure of selecting random sample of 5\xa0students out of 25\xa0in a class is as follows:1.\xa0Assign a particular number between 1 to 25 to all the 10 students like, 01, 02, 03, 04, 05, 06, 07, 08, 09, 10. ....... 252.\xa0Select a number randomly. Let us assume that the number selected is 05.3. Consult the Two-Digit Random Number Table, two numbers successive to the selected random number (i.e. 05) either horizontally or vertically are the remaining two students (i.e. 06 and 07). | |
| 1019. |
scarcity is the mother of all economic problems”. Explain the given statement |
| Answer» Scarcity is universal problem faced by the all economies.thus one of the main reason to study economics is scarcity and how resources can be optimally utilized to satisfy the wants of people. Thus we can conclude that scarcity is the mother of all economic problems | |
| 1020. |
Statistical can only deal with quantitative data .true/false |
| Answer» Statistics anly deal with the quantitative information or data. hence , this statement is true in all senses.<br>The given statement is false. This is because Statistics deals with both quantitative data as well as with qualitative data. Statistics not only reveals quantitative information but also reflects the qualitative aspect of data like better, worse off, highly skilled, etc. | |
| 1021. |
what is the epicentre of economic growth |
| Answer» | |
| 1022. |
Define statistic |
| Answer» | |
| 1023. |
Consumer amongnest households |
| Answer» | |
| 1024. |
What is the meaning of population size and sample size |
| Answer» Positive economic analysis refer to the analysis in which we study what is or now an economic problem is solved by analysis positive statement and machenism .these are factual statement and describe what ,was what is and what would be<br>Sara nice explanation 👌<br>Positive economic analysis refer to the analysis in which we study what is or now an economic problem is solved by analysis positive statement and machenism .these are factual statement and describe what ,was what is and what would be | |
| 1025. |
State briefly the concept of indifference curve |
| Answer» | |
| 1026. |
Statistics can prove anything explain this statement |
| Answer» This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html Few rules to keep homework help section safe, clean and informative. Don\'t post personal information, mobile numbers and other details. Don\'t use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions. Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying. Ask specific question which are clear and concise. Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions.<br>Merits and demarits of cenous | |
| 1027. |
Calculate the median from the following series |
| Answer» | |
| 1028. |
Demand increases by 10 units when the price decreases by 2 as a result |
| Answer» | |
| 1029. |
Chapter 1 statistics ana q |
| Answer» Notes of arithmetic line graph or time series graph<br>Hii | |
| 1030. |
ImpActs of Over Used of smartphone In Class 11 Students |
| Answer» H | |
| 1031. |
PPC curve |
| Answer» Class 12 barbad | |
| 1032. |
What is ppf curve |
| Answer» It is curve showing different combinations of two goods that can be produced on the assumption that:-1. Resources are given2. Resources are fully filled and utilised3. Technology remains constant4. Resources are used specific | |
| 1033. |
Define demand.state the factors affecting demand for commodity by a consumer. |
| Answer» | |
| 1034. |
Types of organisations of data |
| Answer» | |
| 1035. |
What is indifferent convex |
| Answer» | |
| 1036. |
Notes of consumer equilibrium |
| Answer» | |
| 1037. |
Opportunity cost dash in production list ? |
| Answer» The production possibilities frontier (ppf) refer to a curve that shows various alternative combination of two goods that can be produce with efficient utilization of the given resources and technology it is also called the production possibilities curve ( ppc ).it is concave to the orgin. | |
| 1038. |
Define statistics. What are its basic characteristics |
| Answer» | |
| 1039. |
Discuss the published sources of secondary data? Class +1 |
| Answer» | |
| 1040. |
Why studying statics |
| Answer» This content has been hidden. One or more users have flagged this content as inappropriate. Once content is flagged, it is hidden from users and is reviewed by myCBSEguide team against our Community Guidelines. If content is found in violation, the user posting this content will be banned for 30 days from using Homework help section. Suspended users will receive error while adding question or answer. Question comments have also been disabled. Read community guidelines at https://mycbseguide.com/community-guidelines.html Few rules to keep homework help section safe, clean and informative. Don\'t post personal information, mobile numbers and other details. Don\'t use this platform for chatting, social networking and making friends. This platform is meant only for asking subject specific and study related questions. Be nice and polite and avoid rude and abusive language. Avoid inappropriate language and attention, vulgar terms and anything sexually suggestive. Avoid harassment and bullying. Ask specific question which are clear and concise. Remember the goal of this website is to share knowledge and learn from each other. Ask questions and help others by answering questions. | |
| 1041. |
Short cut method :X Y66 5890 7689 6555 5858 5344 49 42 59 |
| Answer» 0.79 | |
| 1042. |
Secondary source |
| Answer» | |
| 1043. |
Convert the following into exclusive frequency distribution |
| Answer» | |
| 1044. |
Notes chapter 1 introduction |
| Answer» Just Go to notes of chapter you want in subject menu<br>How can I sent notes? | |
| 1045. |
Absence of scarcity would mean absence of economics? Explain it with a logical reasoning |
| Answer» | |
| 1046. |
Notes of collection of data |
| Answer» Can you type and then send to me<br>How can I sent notes? | |
| 1047. |
What is a median |
| Answer» It i a part of Statistics<br>What is a median | |
| 1048. |
States the principals that you keep in mind while framing the questionnaire |
| Answer» 1.it should not be concluded too much calculations 2.it should not to much complex 3. Not too long 4.there should be pilot survey before final | |
| 1049. |
Which of the following is not concerned with the problem of choice |
| Answer» Anish<br>Answer | |
| 1050. |
Due to Economic Recession, Unemployment is Increasing in the Economy. |
| Answer» Yes | |