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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.
| 1251. |
Why does Demand curve slope downwards ? |
| Answer» Because of the indirect relationship between the price and quantity demanded..<br>Demand curve slope downwards as because the individual buys more of a commodity at lower price. Hence, because of the inverse relationship between price and quantity demanded, the demand curve slope downward. Demand graph indicates that the quantity demanded of a product gets increased when the price falls, other things remaining constant.The consumer demand as a function of price is q=d(p). It states that quantity demanded changes when the price of the product varies. | |
| 1252. |
What are high yield variety of seeds |
| Answer» High yielding varieties (HYV) of seeds are those seeds which produce huge quantities of crops particularly wheat and rice. Regular supply of water, maximum use of fertilisers and use of pesticides in an accurate proportion is needed in to use these seeds. Financial resources to purchase the fertilisers and pesticides and to install the required irrigation facilities are needed by the farmers to take full advantage from HYV seeds. | |
| 1253. |
Asli masaale Sach Sach MDH MDH??? |
| Answer» 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>\'Mahashay\' Dharampal Gulati, the owner of Mahashian Di Hatti (popularly known as MDH), passed away today at the age of 98. According to reports, he was undergoing treatment at Chanan Devi Hospital for the past few weeks and suffered a cardiac arrest on Thursday morning. | |
| 1254. |
Calculate the standard deviation of the following series. 6,8,14,16,18 |
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| 1255. |
Present the following data graphically |
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| 1256. |
Define organization of data |
| Answer» Organization\xa0of data refers to the systematic arrangement of collected figures (raw data), so that the data becomes easy to understand and more convenient for further statistical treatment\xa0.Classification\xa0is the process of arranging data into sequences and groups according to their common characteristics of separating them in to different but related parts.Characteristics of classification:1. Homogeneity2.Suitability3. Clarity4. Flexibility5. Diversification | |
| 1257. |
Concept of economics |
| Answer» Economics is a social science which studies tge economic behaviour of human beings about they use their limited resources to satisfy unlimited human wants in the conditions of scarcity.<br>Economics\xa0is a science that studies human behavior which aims at allocation of scarce resources in such a way that consumer can maximise\xa0their satisfaction, producers can maximise their\xa0profits and society can maximise its social welfare. It is about making choice in the presence of scarcity. | |
| 1258. |
Please suggest me because tomorrow is my statistic test |
| Answer» Most wlcm...<br>Thanks all of you ☺️☺️<br>The best channel for me is rajat arora\'s channel for economics. I hope it will also be good for you.<br>Rajat arora\'s channel is good for eco. | |
| 1259. |
Sab kaha chale gye?????? |
| Answer» Tum yha padne ate ho ya ristedari nibhane<br>Kon sb | |
| 1260. |
What is the best you tube channel for economics anyone else please suggest me |
| Answer» Rajat AroraFor economics bst and accountsHe explains very nice<br>Wo class 11 ko nhi padate<br>For economics | |
| 1261. |
What do you mean by demand and supply |
| Answer» Demand is the quantity of a commodity which a person is willing and able to buy at each reasonable price during a particular time period....Supply is the quantity of a commodity a person is willing and able to sold at each poosible price during a particular time period....<br>Supply\xa0and\xa0demand, in economics, relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers wish to buy. ... The resulting price is referred to as the equilibrium price and represents an agreement between producers and consumers of the good.\xa0Supply\xa0refers to the amount of goods that are available.\xa0Demand\xa0refers to how many people want those goods. When\xa0supply\xa0of a product goes up, the price of a product goes down and\xa0demand\xa0for the product can rise because it costs loss. At some point, too much of a\xa0demand\xa0for the product will cause the\xa0supply\xa0to diminish. | |
| 1262. |
Why indeference curve convex to the origin ? |
| Answer» Indifference curve convex to the origin because of mrs(marginal rate of substitution)<br>The indifference curves are convex to the origin because of the diminishing marginal rate of substitution. The MRS diminishes because of the decline in the marginal utility, which means with more and more consumption of one commodity, the customers utility starts declining and he is not willing to consume it more at the cost of the other commodity.For example, lets say there are two chocolates, dairy milk, and Nestle, with more and more consumption of dairy milk chocolates the utility continues to decline, and the customer will no more give up the Nestle chocolates to buy the dairy milk. | |
| 1263. |
What is utility? |
| Answer» Utility means the satisfaction which a consumer receives from the consumption of goods.<br>Want satisfying power of a commodity....<br>It is a measure of satisfaction an individual gets from the consumption of the commodities. In other words, it is a measurement of usefulness that a consumer obtains from any good.\xa0A utility is a measure of how much one enjoys a movie, favourite food, or other goods. It varies with the amount of desire.<br>Utility value of goods means inherent capacity of goods & services to satisfy human wants.... | |
| 1264. |
Calculate median of the following data marks |
| Answer» The median is equal to l\'+n by 2 CF upon f multiply by i | |
| 1265. |
What do you understand by indifference curve analysis ? Also explain it\'s assumptions |
| Answer» Hi<br>An indifference curve is a graph showing combination of two goods that give the consumer equal satisfaction and utility. Each point on an indifference curve indicates that a consumer is indifferent between the two and all points give him the same utility.Description:\xa0Graphically, the indifference curve is drawn as a downward sloping convex to the origin. The graph shows a combination of two goods that the consumer consumes.\t\tThe above diagram shows the U indifference curve showing bundles of goods A and B. To the consumer, bundle A and B are the same as both of them give him the equal satisfaction. In other words, point A gives as much utility as point B to the individual. The consumer will be satisfied at any point along the curve assuming that other things are constant. | |
| 1266. |
Calculate the coefficient correlation between ages of husband and vaves |
| Answer» <div><div data-google-query-id="CKPxir3Tn-0CFeod1QodqGYC2A" id="div-gpt-ad-1585306533919-03321" yeti-found="true"><div>Thus, there is a high degree of positive correlation between the age of husband and wife.</div></div></div> | |
| 1267. |
How does change in income affect the demand of given commodity |
| Answer» If the income of consumers increase then thier demand will also increase....But if their income decrease then their demand will also decrease....<br>If the change in demand of commodity due to change in incomeIf the income is increasing then the demand also be increasedBut income increase demand of inferior commodity is decreased | |
| 1268. |
Low level of economic development under the colonial rule . Please tell in short points?? |
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| 1269. |
Discuss the main forms of a table ? |
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| 1270. |
Examples of opportunity cost? |
| Answer» Opportunity cost is the cost of next best alternative...For eg- If a person working for 50000per month got two job offers ... one for the 40000 per month and other 37000 per month.... Soo his opportunity cost will be 40000 per month....<br>Opportunity cost is the next best of alternative forgone<br>Example for purchasing the new scooty we sacrify the new cloth for party.<br>For selection of an opportunity the sacrify the next best goods alternative use is opportunity . | |
| 1271. |
What is utility with example |
| Answer» Utility means संतुष्टि<br>Utility is the want satisfying capacity of a commodity.Ex- when you eat your favourite food say chocolate so you get satisfy this satisfaction is called utility. | |
| 1272. |
Explain consumer equilibrium using indifference curve analysis |
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| 1273. |
Project file class 11 on topic organic farmig-back to the nature |
| Answer» Dad | |
| 1274. |
Problems of resources allocation is automatically solve in free economy (a)true (b)false |
| Answer» True<br>Falsee | |
| 1275. |
Explain the meaning of Consumer\'s Equilibrium with the help of a table and diagram |
| Answer» A consumer is in a state of equilibrium when he maximizes his satisfaction by spending his given income on different goods and services. Any deviation or change in the allocation of income under the given circumstance will lead to a fall in total satisfaction.For one-commodity case: Rupee worth of satisfaction actually received by the consumer is equal to the marginal utility of money as specified by the consumer himself.\xa0Condition 1 : MU(of good X) = MU(of money) OR , PRICE(of good X) = MU(of money)Reason: Price paid by the consumers should be exactly equal to the money value of MU that he derives. In case P(of X) is lesser than the MU(of money), he should be prompted to buy more of good X. Higher consumption will lead to a fall in MU. The consumption of good X would stop only when P(of good X) will be equal to MU(in terms of money). Likewise, if P(of X) is greater than MU(in terms of money), the consumer will be prompted to buy less of good X, leading to a fall in MU.Condition 2: Marginal utility of money remains constant.Condition 3: Law of marginal utility holds good.For two-commodity case: Rupee worth of marginal utility of money should be same across good X and good Y, and equal to marginal utility of money.Reason: In case rupee worth of satisfaction (MU of good X/ price of good X) is greater for good X than good Y, the consumer will be prompted to buy more of good X and less of good Y. This would lead to a fall in marginal utility of good X and a rise in marginal utility of good Y. This process would continue till\xa0MU(of good X)/ Price of good X = MU(OF GOOD Y)/ Price of good Y = MU(of money) . In case rupee worth of satisfaction (MU of good y/ price of good Y) is greater for good Y than good X, the consumer will be prompted to buy more of good Y and less of good X. This would lead to a fall in marginal utility of good Y and a rise in marginal utility of good X. | |
| 1276. |
What does nature of economy mean? |
| Answer» Natural economy\xa0- is a type of\xa0economy\xa0in which money is not used in the transfer of resources among people. ... As a corollary, the majority of goods produced in a system of\xa0natural economy\xa0are not produced for the purpose of exchanging them, but for direct consumption by the producers (subsistence). | |
| 1277. |
Why is choice essential in the study of economics?? |
| Answer» Because the scarcity of resources gives rise to the problem of choice... and economics is all about how we utilise our scarce resoures to get maximum satisfaction....<br>Economics is sometimes called the study of scarcity because economic activity would not exist. If scarcity did not force people to make choices. When there is scarcity and choice,there are costs. The cost of any choice is the option or options that a person gives up.Choice refers to the ability of a consumer or producer to decide which good, service or resource to purchase or provide from a range of possible options. Being free to close is regarded as a fundamental indicator of economic well being and development | |
| 1278. |
Happy Diwali?in advance✨✨✨to all members of this app?? |
| Answer» <div><script>import confetti from "https://cdn.skypack.dev/canvas-confetti";const doItNow = (evt, hard) => {\tconst direction = Math.sign(lastX - evt.clientX);\tlastX = evt.clientX;\tconst particleCount = hard ? r(122, 245) : r(2, 15);\tconfetti({ particleCount, angle: r(90, 90 + direction * 30), spread: r(45, 80), origin: { x: evt.clientX / window.innerWidth, y: evt.clientY / window.innerHeight }\t});};const doIt = (evt) => {\tdoItNow(evt, false);};const doItHard = (evt) => {\tdoItNow(evt, true);};let lastX = 0;const butt = document.querySelector("button");butt.addEventListener("mousemove", doIt);butt.addEventListener("click", doItHard);function r(mi, ma) {\treturn parseInt(Math.random() * (ma - mi) + mi);}</script></div><br>☺️☺️☺️<br>same2u?? | |
| 1279. |
How is economic problems essentially the problem of choice |
| Answer» Dhruv no need for that .Forget that<br>Thanks yogita ?<br>Economic Problem\xa0Problem of choice or a problem of allocation of resources is the major economic problem which arises due to scarce resources and alternative uses of resources. With this meaning we have several other aspects also to study which are:(i) Scarcity\xa0It refers to the situation where demand for a good exceed its supply.(ii) Choice\xa0It refers to the process of selection from available limited resources .Or in more simple way‘Scarcity causes choice’‘Choice implies decision-making’‘Decision-making’ relates to usage of limited resources in a manner that consumer maximises his satisfaction, producer maximises his profits and a nation maximises its social welfare. | |
| 1280. |
ʄɨռɖ օʊt tքք aռɖ tċ |
| Answer» | |
| 1281. |
Discuss the exceptions of law of demand ? |
| Answer» There are two exceptions to the Law of Demand. Giffen and Veblen goods are exceptions to the\xa0Law of Demand. However, they are extreme cases and can be quite difficult to prove. But economists generally agree that there are rare cases where the Law of Demand is violated.The Law of Demand states that the quantity demanded for a good or service rises as the price falls,\xa0ceteris paribus\xa0(or with all other things being equal).\xa0Therefore, the Law of Demand is an inverse relationship between price and quantity demanded | |
| 1282. |
What do you mean by opportunity cost ? |
| Answer» Opportunity cost is the cost of next best alternative foregone.<br>A benefit, profit, or value of something that must be given up to acquire or achieve something else. Since every resource (land, money, time, etc.) can be put to alternative uses, every action, choice, or decision has an associated opportunity cost.Opportunity costs are fundamental costs in economics, and are used in computing cost benefit analysis of a project. Such costs, however, are not recorded in the account books but are recognized in decision making by computing the cash outlays and their resulting profit or loss<br>Cost of next best alternative forgone is opportunity cost | |
| 1283. |
When can ppc be a straight line? |
| Answer» Thanks yogita<br>The slope of production possibility curve is marginal opportunity cost which refers to the additional sacrifice that a firm makes when they shift resources and technology from production of one commodity to the other. Therefore, if marginal opportunity cost remains constant then PPC will be a straight line owing to constant slope. | |
| 1284. |
Define Arithmetic mean ? |
| Answer» Arithmetic mean can be defined as the the sum of all observation. divided by total no. Of observation<br>The arithmetic mean is defined as the ratio of the sum of all the given observations to the total number of observations. For example, if the data set consists of 5 observations, the arithmetic mean can be calculated by adding all the 5 given observations divided by 5. | |
| 1285. |
Who is father of statistics ? |
| Answer» Adam smith<br>Sir Ronald Aylmer\xa0Fisher who was a British statistician, is considered by many to be the father of the modern statistics.\xa0Considering India I think it\'s P.C Mahalanobis. He\'s also the founder of Indian Statistical Institute- Kolkata.\xa0 | |
| 1286. |
Define statistics in singular sense ? |
| Answer» In singular sense, it means the science of counting or science of average. This definition has the following features:Collection of data:\xa0Most of the statistical analysis is performed on the basis of collected data. The methods of data collection like primary and secondary, census and sampling etc. are related with data collection.Organization of data:\xa0After collecting data, systematic arrangement is essential. They are organized and presented in table on the basis of rows and columns. This process is known as presentation of data.Analysis of data: The organized data presented need to be analyzed. There are various tools of analysis in statistics like average, co-relation, regression, dispersion, etc.Interpretation of data: After analysis, results are interpreted and conclusions are drawn. IT is the last and most essential part of the work. If findings are interpreted wrongly, wrong conclusion is obtained. | |
| 1287. |
Who is known to be the father of Economics? |
| Answer» Adam Smith is\xa0considered\xa0the\xa0father of economics. | |
| 1288. |
Normal goods |
| Answer» Following are the data about the TV sets sold in Delhi and haryana present the data by a pie diagram brands of set<br>A normal good is a good that experiences an increase in its demand due to a rise in consumers\' income. In other words, if there\'s an increase in wages, demand for normal goods increases while conversely, wage declines or layoffs lead to a reduction in demand. | |
| 1289. |
Difference between economy and economics |
| Answer» Economy is a system by which people of an area earn their living.Economic is a science of human behaviour concerned with the allocation of scarce means in such a manner that consumer can maximise their satisfaction, producers can maximize their profits and the social can maximise it\'s social welfare.<br>Economics is that branch of knowledge in which those activities of human beings are studied which they undertake to acquire scarce to satisfy their unlimited wants and economy is a system by which people of an area earn their living | |
| 1290. |
Explain the law of variable proporstion with the help of total and marginal physical production |
| Answer» The\xa0law of variable proportions state\xa0that as the quantity of one factor is increased, keeping the other factors fixed, the\xa0marginal product\xa0of that factor will eventually decline.\xa0The\xa0law of variable proportions\xa0is as follows: “If a producer increases the units of a\xa0variable\xa0factor while keeping other factors fixed, then initially the total product increases at an increasing rate, then it increases at a diminishing rate, and finally starts declining.” | |
| 1291. |
Explain Mean with example in individual and continuous series.. |
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| 1292. |
Explain mean in individual and decret series |
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| 1293. |
Write advantage and disadvantage of textual presentation ? |
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| 1294. |
Good night @mycbseguide team??✨ |
| Answer» Good evening human being<br>Economics is the branch of knowledge concerned with the production, consumption and transfer of wealth<br>What is ecinomic<br>??<br>Good morning human being | |
| 1295. |
Can DC win and qualify for the playoffs today?? |
| Answer» I am a human being ?<br>Who are you Mr.dhruv??<br>Don\'t know<br>?? | |
| 1296. |
What is indifference curve explain in brief |
| Answer» An indifference curve is a graphical representation of a combined products that gives similar kind of satisfaction to a consumer thereby making them indifferent.Every point on the indifference curve shows that an individual or a consumer is indifferent between the two products as it gives him the same kind of utility.The indifference curve analysis work on a simple graph having two-dimensional. Each individual axis indicates a single type of economic goods. If the graph is on the curve or line, then it means that the consumer has no preference for any goods, because all the good has the same level of satisfaction or utility to the consumer. For instance, a child might be indifferent while having a toy, two comic book, four toy trucks and a single comic book. | |
| 1297. |
Median individual 1,3333,,,778 |
| Answer» | |
| 1298. |
What is statistics? How does it help in formation of policies for economic development? |
| Answer» The practice or science of collecting and analysing numerical data in large quantities, especially for the purpose of inferring proportions in a whole from those in a representative sample is known as statistics.It helps in formation of policies for economic development because it assess the amount of various resource available in the economy. | |
| 1299. |
Who will be the orange cap winner in this season?? |
| Answer» But I think paddikkal | |
| 1300. |
Chapter 11 theory of supply notes |
| Answer» | |