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.
| 101. |
How do make questionnaire |
| Answer» | |
| 102. |
Differentiate between primary and secondary data |
| Answer» Primary data-1.This data is directly collected by the investigator from the informants.2.It is the first hand data.3.High degree of originality.4.High degree of accuracy.5.It takes a lot of time, large amount of money is required .Secondary data-1.This data is collected from the existing data.2.It is the second hand data.3.Less degree of originality.4.less degree of accuracy.5.It takes less time,small amount of money. | |
| 103. |
what are qualities of a good questionnaire? |
| Answer» | |
| 104. |
what is data ? |
| Answer» Data is collected any numerical number<br>Any information which can be written numerically is called data | |
| 105. |
Material welfare definition |
| Answer» | |
| 106. |
Explain briefly the methods of study statistics? |
| Answer» | |
| 107. |
Discuss briefly the nature of statistics |
| Answer» | |
| 108. |
What is merits of stratified random sampling? |
| Answer» | |
| 109. |
Marks. No. Of student 0-10. 5 10-20. 1020-30. 2530-40. 3040-50. 2050-60. 10 solve using all methods |
| Answer» I don\'t understand the question ????? | |
| 110. |
Explain consumer equilibrium in case of single commodity? |
| Answer» The consumer will be in equilibrium in case of single commodity when following condition is satisfied:\t{tex}\\frac { \\mathrm { MUx } } { \\mathrm { Px } }{/tex}\xa0= MUm\tWhere, MUx= Marginal utility of good X\tPx = Price of good X\tMUm= Marginal utility of money\tLaw of Diminishing Marginal utility (means consumption increases the marginalutility derived from each additional unit declines) must prevail. | |
| 111. |
What are data |
| Answer» Sources of secondary data Published\tGovt.publication\tsemi-govt.publication\tReports of committees & commissions\tPrivate publicationse.g.,Journals and Newspapers research institute,publication of trade association.\tInternational publicationsUnpublished Sources :\xa0The statistical data needn’t always be published.There are various sources of unpublished statistical material such as the records maintained by private firms,business enterprises, scholars,research workers,etc.They may not like to release their data to any outside agency.<br>Economic facts are called ss data<br>Any economic facts in the terms of number is called data. Data is a tool which provide information to understand the problem. | |
| 112. |
Why was adam smith call father of evonomic |
| Answer» Because he had written first book on economics that is" An enquiry into nature and cause of wealth of nation." | |
| 113. |
Explain the central problem of what to produce |
| Answer» An economy has millions of commodities to produce. It has to decide which goods and services to be produced and that should be in sufficient quantity, as all the goods cannot be produced due to scarcity of resources, e.g. an economy has to decide whether to produce luxury goods or inferior goods, capital goods or consumer goods.This problem has two dimensions:(i)Types of goods to be produced.(ii)Quantity of goods to be produced. | |
| 114. |
Define data . what are the main sources of data |
| Answer» Adhik samasya durbalta ka Karan hai kaise<br>Economic facts are called as data<br>Data is a collection of imformation | |
| 115. |
What is a census method |
| Answer» | |
| 116. |
1= Absence of scarcity would mean absence of economic. Explain with logical reasoning. |
| Answer» The statement is true because economics is a subject which studies social and individual behaviour at the time of scarcity. So if there is no scarcity of resources then one would have enough to fulfil his needs and one would not need to make any choice. Thus we can say that scarcity is an necessay condition for economics. | |
| 117. |
Which type of data involves less time and is less expensive |
| Answer» Sampling is the most less time taking and inexpensive way of collecting data, in this we divide the population into random groups based on geographical habitat, ***, etc or make stratas for the simulation of final statistical results.\xa0 | |
| 118. |
Defination of giffen goods |
| Answer» Giffen goods are special kind of goods on which the consumers spends most of his income and their demand rises with an inrease in price and demand falls with decrease in price level. For example when the prices of jowar, bajra reduces, then the consumer tends to consumer less of those items and consume superiror goods such as wheat and rice. This is an exceptional case which is against the law of demand. This is because a fall in price of inferior goods increases the real income which reduces demand for inferior goods as consumer prefer to shift to superior goods. | |
| 119. |
Why is choice essential in the study of economice. |
| Answer» | |
| 120. |
Differentiate between discrete variable and continuous variable |
| Answer» Discrete Variable: A discrete variable is one which increases in jumps or in complete numbers. For example, there can\'t be 2.4 workers in a factory. They can be 1, 2, 3, 4 and so on. Similarly, a factory can\'t have 4.8 or 2/7 machines. It will be in complete numbers like 1,2,3,4, and soon. Such variable are called discrete variable. Some other examples of discrete variable are number of workers in a factory, number of machines purchased, number of children etc.Continuous Variable: Those variables which can assume any value in a given range and which increase continuously and not in jumps are called continuous variable. For example, weight of a person can be 45.234kg, it can take any value within a range. No one gains weight in jumps. It increases in continuity. Other examples are height, income etc.Continuos Variable always lies in a particular interval or range .For instance, height of a child is 3.5 metres which lies between 3 and 4.So, here the interval is equal to( 3,4). | |
| 121. |
What is meant to by an economy? Give its type |
| Answer» Economy encompasses all activities related to production , consumption and trade of goods and services in an area. It is a system which provides people with the means to work and earn living. | |
| 122. |
Explain the meaning of production with the help of economy? |
| Answer» | |
| 123. |
Discuss the nature of economic |
| Answer» Define wealth definition | |
| 124. |
What does a PPC show when it will shift to the right |
| Answer» When there is updragradation in technology and availability of resources | |
| 125. |
Features of economic explain with examples |
| Answer» | |
| 126. |
Difeerence between MOC and OC |
| Answer» Oc- It is the cost of availing one opportunity in terms of the loss of other opportunity or it\'s the cost of shifting resources from use1 to use2 Moc- It refers to opportunity cost per unit of additional output of use2 when some resources are shifted from one opportunity to other | |
| 127. |
When exonomic help our national work so our national, how to improve our nation |
| Answer» | |
| 128. |
Draw a production possibility curve and show the following situation economic growth |
| Answer» | |
| 129. |
Explain any 3sources of restricted entry under monopoly |
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| 130. |
What are the main element of sampling |
| Answer» | |
| 131. |
Personal Bias |
| Answer» Selected on basis of decidement | |
| 132. |
What is a slope line and their features |
| Answer» | |
| 133. |
Why does an economic problems arise ? Explain |
| Answer» An economic problem is basically the problem of choice which arises because of scarcity of resources. Human wants are unlimited but means to satisfy them are limited. Therefore, all human wants cannot be satisfied with limited means. Wants differ in intensity and limited resources have alternative uses. In such a background, every consumer tries to satisfy his maximum wants. Therefore, one has to choose as to what goods one should consume and in what quantity. Economic problem arises the movment problem of choice arises. Actually speaking, economic problem is basically the problem of choice.<br>Bcoz our wants r unlimited & resources r limited | |
| 134. |
What is econmy |
| Answer» | |
| 135. |
Split u syllabus half year ly |
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| 136. |
Split up syllabus half yearly |
| Answer» | |
| 137. |
Merits and demerits of enumerator method |
| Answer» | |
| 138. |
What is the importance of statistics |
| Answer» A number of economics problems can easily be understood by the use of statistics. It helps in formulation of economic policies e.g., basic economic activities like production, consumption etc. use statistics. The importance of statistics in various parts of economics as follows:\tStatistics in consumption: To obtain the knowledge of how different groups of people spend their income on consumption. The data of consumption are useful and helpful in planning their budget and in improving\xa0their standards of living.\tStatistics in production: The comparative study of the production process is\xa0done with the help of statistics. The statistics in\xa0production is\xa0very useful and helpful in the\xa0adjustment of demand and supply and for determining the quantity of production of the commodity.\tStatistic in distribution: Statistical methods are used in solving the problem of distribution of national income among various factor of production i.e, land, labour, capital and entrepreneur. | |
| 139. |
Falls in price of commodity always lead to expansion of its demand comment |
| Answer» Because a consumer tend to buy more of a commodity at Same price | |
| 140. |
What is economy and state the importance? |
| Answer» It is framework for production consumption and capital formation. It provide employement | |
| 141. |
Functions and importance of statistics in economics |
| Answer» Importance of statistics:\tFormulation of economic laws:\xa0it helps in formulation of laws and models e.g. law of\xa0demand has been developed by the inductive method of genralisation which is based on statistical principles.\tUnderstanding economic problems:\xa0it plays\xa0a vital role in understanding and solving economic problems such as poverty, unemployment, etc.\tStudy of market structures:\xa0study of monopoly, monopolistic competition, oligopoly, and monopolistic competition requires statistical comparison of market prices, cost, and profits of individual firms.\tIntersectoral anf intertemporal comparison: statistics helps in the comparision of different sectors of the economy and also helps in comparison of variables in two different time periods\tEconomic forcasting:\xa0by using statistical tools , methods, and techniques one can forcast e.g growth of the country in the coming fiscal year or rate of inflation in the coming month.\xa0 | |
| 142. |
What is Capital intensive |
| Answer» What is primary Data | |
| 143. |
Limitation of Economics defination given by Marshall |
| Answer» | |
| 144. |
When does growth of resources takes plac? |
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| 145. |
Demand notes |
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| 146. |
What is sunsex? |
| Answer» It is not sunsex bro, it is synsax | |
| 147. |
Distinguished between economy and economics |
| Answer» The economy is the relationship between production, trade and the supply of money in a particular country or region.Economics is a science that studies economies and develops possible models for their functioning.<br>Economics is the subject matter that deals with economic problems related to an individual producer , consumer and individual market. Economy is the system by which people of an area earn their livings. | |
| 148. |
How did NEP bring about change in the financial sector? |
| Answer» | |
| 149. |
Deference between questionnaire and sehedule |
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| 150. |
Rriefly explain the three distinct components of economic |
| Answer» The three distinct components of economics:(a) Production: It simply means creation of utility. Producer also have limited means while they have a variety of goods and services to choose from. The study of production explains that, as producer, how do they choose such combination, so that their revenue is maximized.(b) Consumption: It is the process of using up utility, value of goods and services for the direct-satisfaction of our wants. Human wants are unlimited and no one can satisfy his all wants fully because resources to satisfy them are limited. The study of consumption explains that as consumer, how people allocate their income on the purchases of different goods and services so that their satisfaction is maximized(c) Distribution: The study of distribution explains the economic principle on the basis of which income is distributed among the various factor of productions, how the national income arising from what has been produced in the country is distributed through wages and salaries, profits and interest. | |