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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.
| 1551. |
Law of variable proportion... |
| Answer» Thn bighwa do ritesh<br>Ur real name?<br>Oo thnx for imf.<br>Boy<br>Who are u? | |
| 1552. |
Explain type of classification of data |
| Answer» Classification of dataThe method of arranging data into homogeneous classes according to some common features present in the data is called classification.(1) Geographical Classification:\tWhen data are classified with reference to geographical locations such as countries, states, cities, districts, etc. it is known as Geographical Classification.It is also known as ‘Spatial Classification\'.(2) Chronological Classification:\tWhen data are grouped according to time, such a classification is known as a Chronological Classification.In such a classification, data are classified either in ascending or in descending order with reference to time such as years, quarters, months, weeks, etc.It is also called ‘Temporal Classification’.(3) Qualitative Classification:\tUnder this classification, data are classified on the basis of some attributes or qualities like honesty, beauty, intelligence, literacy, marital status etc.For example, Population can be divided on the basis of marital status as married or unmarried etc.(4) Quantitative Classification:\tThis type of classification is made on the basis some measurable characteristics like height, weight, age, income, marks of students, etc. | |
| 1553. |
Teacher what is the defenition of microeconomics |
| Answer» Micro economics studies the behaviour of a individual unit of an economy . microeconomics other name is price theory .for example demand of a consumer,individual income,individuals output<br>Thanks a lot<br>Microeconomics is that part of economic theroy , which studies the behaviour of individual units of an economy. It\'s main tools are Demand and Supply. For example: induvidual income, price of a commodity etc. | |
| 1554. |
Budget sets include |
| Answer» | |
| 1555. |
What is law of supply |
| Answer» Law of supply states that other factors remaining constant, price and quantity supplied of a good are directly related to each other. In other words, when the price paid by buyers for a good rises, then suppliers increase the supply of that good in the market. | |
| 1556. |
What is price elasticity of supply, if supply curve is parallel to y axis |
| Answer» 0 | |
| 1557. |
Write two characteristics of resources |
| Answer» Resorces are scarce or limited and have alternative uses<br>Resources can be classified in the following ways– (a) On the basis of origin – biotic and abiotic (b) On the basis of exhaustibility – renewable and non-renewable (c) On the basis of ownership – individual, community, national and international (d) On the basis of status of development – potential, developed stock and reserves.\xa0Resources\xa0have three main\xa0characteristics\xa0namely 1) Utility, 2) Limited availability, 3) Potential for depletion or consumption. Scarcity is the fundamental economic problem of having humans who have unlimited wants and needs in a world of limited\xa0resources.<br>\tScarcity: Resources are scarce in relation to their wants.\tAlternative uses: Resources have alternative uses. For example, land may be used for agricultural activity or for industrial purpose.\xa0 | |
| 1558. |
Economics or statics ke chp ke naam batoo |
| Answer» Microeconomics the first one is introduction second one theory of consumer behaviour the third one is production and cost 4th one is the theory of the firm under perfect competition market aquarium vi non competitive markets | |
| 1559. |
what is the full form of xxx |
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| 1560. |
Limitations of stats |
| Answer» The limitation of statistics areFirst statistics studies only quantitative factsecond statistics does not deal with individualThird statistic result as true only on an averageStatistics laws are not perfectly accurateStatistics can be misused results lack mathematical Aquarius<br>Limitations of Statistics:1. Statistics studies numerical facts only, it is not suited for qualitative study such as honesty, friendship etc.2.Data must be homogenous and uniform otherwise comparison may not be possible.\xa03. Satistical methods can be used by experts only or they may give rise to errors or distrust in the data.4. Statistical data can be prone to misuse. | |
| 1561. |
Explain the central problem of for whom to produce |
| Answer» This problem involves the distribution of produced goods and services to different groups of society.It sees whether to produce for more rich,less poor or less rich, more poor.<br>It means for people because we have unlimited wants and resources are limited. Ex- we buys clothes from market we check the quality of clothes. Assume that you are buying black pant from market you go many shops you find their black pant but you find the quality of good cloth.<br>This studies the problem of\xa0distribution of final goods and services or the problem of distribution of income.It has two aspects. The first aspect relates to\xa0personal distribution\xa0and the second aspect relates to\xa0functional distribution.Personal distribution refers to\xa0output/income share of individuals or households in society.Functional distribution refers to\xa0income share of different factors of production.Here, the problem is whether allocation of resources is\xa0promoting equality or not.Equality is a social virtue, and inequality may induce high saving, investment and hence\xa0high rate of growth. | |
| 1562. |
State the importance of economics |
| Answer» ganduuuu<br>Economics\xa0is the\xa0important\xa0you get to know how societies, governments, businesses, households, and individuals allocate their scarce resources. The\xa0economics\xa0can also provide valuable knowledge for making decisions in everyday life.\xa0Economics\xa0is concerned with the optimal distribution of resources in society.\xa0Economics\xa0is\xa0important\xa0for many areas of society. It can help improve living standards and make society a better place.\xa0Economics\xa0is like science in that it can be used to improve living standards and also to make things worse. It partly depends on the priorities of society and what we consider most\xa0important. | |
| 1563. |
The resources for satisfying human wants are : |
| Answer» Unlimited<br>Human wants\xa0can be referred to as the desires that\xa0human\xa0beings strive to satisfy by using goods and services. The\xa0satisfaction\xa0of these\xa0wants\xa0refers to the process of acquiring and using the required goods and services.\xa0First and most important\xa0wants\xa0are obviously necessaries for life. These include food, water, clothing, shelter, etc. And then there are necessaries that improve our efficiency and well being like comfortable housing, nourishing foods, etc.\xa0Needs and\xa0Wants\xa0are two very different things.\xa0Basic human\xa0needs are food, clothing, shelter, companionship, justice, free association, freedom, friends, family, work, religion, stable government and everything thing else is a\xa0Want. | |
| 1564. |
What is meant by production function |
| Answer» The\xa0production function\xa0describes a boundary or frontier representing the limit of output obtainable from each feasible combination of inputs. The\xa0production function\xa0also gives information about increasing or decreasing returns to scale and the marginal products of labor and capital.\xa0Production function\xa0is the mathematical representation of relationship between physical inputs and physical outputs of an organization. There are different\xa0types\xa0of\xa0production functions\xa0that can be classified according to the degree of substitution of one input by the other. | |
| 1565. |
Theory of demad |
| Answer» Demand theory\xa0is an economic principle relating to the relationship between consumer\xa0demand\xa0for goods and services and their prices in the market.\xa0Demand theory\xa0forms the basis for the\xa0demand\xa0curve, which relates consumer desire to the amount of goods available.\xa0An effective demand has three characteristics namely, desire, willingness, and ability of an individual to pay for a product. The demand for a product is always defined in reference to three key\xa0factors, price, point of time, and\xa0market\xa0place.\xa0The law of\xa0supply\xa0and\xa0demand\xa0is a\xa0theory\xa0that explains the interaction between the sellers of a resource and the buyers for that resource. The\xa0theory\xa0defines what effect the relationship between the availability of a particular product and the desire (or\xa0demand) for that product has on its price. | |
| 1566. |
bumper production boon or bane for farmers project |
| Answer» Hello | |
| 1567. |
I want notes of chapter 3 of statistics for economic |
| Answer» | |
| 1568. |
Economic subjects ka name hai Yaa microeconomics hai |
| Answer» | |
| 1569. |
what is capitalist economy and socialist economy |
| Answer» Capitalist economy is also called market economy. The decision taken by the individual. They only want profit. Socialist economy is also called planned economy. The decision taken by the government. They don\'t want profit they want to help people.<br>Capitalist encourages innovation and individual goals while socialism promotes equality and fairness among society. In the socialist economy the resources are state owned but in the case of capitalist economy , the means of production are private owned . | |
| 1570. |
Project on effect on ppc due to various government policies |
| Answer» | |
| 1571. |
Effect on ppc due to gst |
| Answer» One tax regime is a major relief to the manufacturers. It simplified the process and encourage the business man to invest more. GST will lead to increase in production potential, increases the GDP of an economy. Therefore, national imcome of the economy will increase. Due to increase in national income with fuller utilisation of resources, PPC will shift rightward. | |
| 1572. |
How we calculate arithmetic mean in case of cumulative frequency distribution |
| Answer» Firstly we will find mid value of x and also find frquency and the apply formula mean = total of fm/ total of f | |
| 1573. |
Explain the effect of a rise in the income on the demand of a good. |
| Answer» | |
| 1574. |
Explain the concept of opportunity cost with the help of an example. |
| Answer» Ex we have 50/- we have two options like cinema ticket and notebook. He has to sacrifice one good for another good. Suppose he takes notebook so he sacrifice cinema tickets. Cinema ticket Is opportunity cost.<br>An opportunity cost is the cost of an alternative that must be forgone in order to pursue a certain action. In other words, the cost of enjoying more of one good in terms of sacrificing the benefit of another good is termed as opportunity cost of the additional unit of the good.Example: We have Rs 15,000 with two choices a) to invest in the shares of a company XYZ or b) to make a fixed deposit which gives interest 9%. If the company XYZ gives a return of 15%, we will benefit when we invest in the shares as the alternative would be less profitable. However if company’s return is only 3% when we could have made a return of 9% from FD, then our opportunity cost is (9% - 3% = 6%). | |
| 1575. |
What us production possibility curve? |
| Answer» The\xa0production possibilities curve\xa0(PPC) is a\xa0graph\xa0that shows all of the different combinations of output that can be produced given current resources and technology. Sometimes called the\xa0production possibilities frontier\xa0(PPF), the PPC illustrates scarcity and tradeoffs. The\xa0PPF\xa0is extremely\xa0important\xa0in describing a range of economic phenomena. The\xa0PPF\xa0can be used to explain the concept of opportunity cost: Rather than measuring costs in dollars which are rather arbitrary (and change with inflation), we can measure the cost of\xa0producing\xa0one good in terms of not\xa0producing\xa0other goods. | |
| 1576. |
Farmer is an example of production. State true or false. |
| Answer» Yes, thats true bcuz, farmer is producing the goods and services which are used by us.<br>True | |
| 1577. |
Which are the key deciding factors of Demand?Name them and explain each factor |
| Answer» The quantity demanded (qD) is a function of five factors—price, buyer\xa0income, the price of related goods, consumer tastes, and any consumer expectations of future supply and price.\xa0The law of\xa0demand\xa0states that, if all other\xa0factors\xa0remain equal, the higher the price of a good, the less people will\xa0demand\xa0that good. ... This means that the higher the price, the higher the quantity supplied. Producers\xa0supply\xa0more at a higher price because selling a higher quantity at a higher price increases revenue. The\xa0demand\xa0for a good depends on several\xa0factors, such as price of the good, perceived quality, advertising, income, confidence of consumers and changes in taste and fashion. ... It shows the quantity of a good consumers plan to buy at different prices | |
| 1578. |
Define central Economics |
| Answer» A centrally planned\xa0economy\xa0is an\xa0economy\xa0where decisions on what to produce, how to produce and for whom are taken by the government in a centrally managed bureaucracy.\xa0Central\xa0planning is also referred to as a \'Command\xa0economy\' or \'Communist\xa0economy. | |
| 1579. |
what is the msin problem of microeconomics ? |
| Answer» Micro economic problems. One of the most frequent problems is that economic decisions can have external effects on other people not involved in the transaction. For example, if you produce power from coal, the pollution affects people all over the world (acid rain, global warming). | |
| 1580. |
Solved question answer are not here |
| Answer» | |
| 1581. |
Best eco books for +1 |
| Answer» I.D.mangal and T.R.jain<br>Sandeep Garg and TR Jain both are best | |
| 1582. |
For whom to produce is a central problem of an econamy . Explain |
| Answer» For whom to produce is a selection of category of people who will consume resource for let\'s take two examples first let there be credible and a country ABC and the income of a is 500 b is 510c is 192 the government will see one need an equal distribution will be there of that resource and an example to if income of a thousand b is hundred and C is 150 then government will produce that good which is needed by poor people so equal distribution will not be there | |
| 1583. |
What are the reasons for studying economics? |
| Answer» To learn about the economic problems of India and to solve it. Economics means to earn wealth or money to satisfy our needs and money save for ur future | |
| 1584. |
Economics Chapter 1 Introduction to Statistics ncert solution of class 11 |
| Answer» | |
| 1585. |
Define economic problems? |
| Answer» It is one of the fundamental economic theories in the operation of any economy. It asserts that there is scarcity, or that the finite resources available are insufficient to satisfy all human wants and needs. | |
| 1586. |
What is microeconomics |
| Answer» Microeconomics is the study of individuals.<br>Microeconomics is the study of decisions made by people and businesses regarding the allocation of resources and prices of goods and services. The government decides the regulation for taxes. Microeconomics focuses on the supply, that determines the price level of the economy. It uses the bottom-up approach strategy to analyze the economy. In other words, microeconomics tries to understand human choices and resource allocation. Microeconomics does not decide what are the changes taking place in the market, instead, it explains why there are changes happening in the market.the important key factors of microeconomics are :\tDemand, Supply, and Equilibrium\tProduction Theory\tCosts of Production\tLabor Economics | |
| 1587. |
Scarcity causes economic problem ?how |
| Answer» | |
| 1588. |
How many parts in economics |
| Answer» Two parts are there in economics:- macroeconomics and microeconomics | |
| 1589. |
Explain the main comp.of macroeconomics |
| Answer» | |
| 1590. |
Scope in economics??? |
| Answer» | |
| 1591. |
What is social distancing??? |
| Answer» Not good ?<br>Both are good ad ur study<br>Fine what about you and your studies ??? | |
| 1592. |
The resources which the producer have are _______and also have______ uses. |
| Answer» Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. Land resources are the raw materials in the production process. These resources can be renewable, such as forests, or nonrenewable such as oil or natural gas.There are four basic types of economic resources in the world, which are land, labour, capital, and entrepreneurship. Land comprises all natural resources and supply which we require as a fundamental to the production of all goods. Labour is a measure of work done by human beings. | |
| 1593. |
Which is mist important abd scoring topic |
| Answer» Rightly said<br>I think all topics are important.... And don\'t study to score.... Study to learn....... | |
| 1594. |
Difference between the and macroeconomics |
| Answer» It does not clarify its meaning. Please repost it again | |
| 1595. |
Make a list of activities in a bus stand or a market place . How many of them are economic activity? |
| Answer» On my visit to a bus stand, I can witness the following activities:1. Buses of various destinations are waiting for its passengers.2. At the bus stand there is a big queue for the purchase of tickets.3. People who have taken a halt are taking refreshments in a canteen.3. The bus conductors are shouting for people to board the bus.4. Hawkers are roaming to sell their items.5. Beggars are busy with their begging.6. There is too much hustle bustle in the area.Out of these, the following can be called economic activity:1. Hawkers selling their items.2. People are purchasing tickets.3. Beggars asking for money.4. The bus conductors asking people to board the bus. | |
| 1596. |
Write function of statistics in detail |
| Answer» Following are the functions of statistics :I. Presentation of facts in figures :Statistics presents the various facts and figures, in such a manner so that various complicated facts become easy, brief and concrete and they may be understood easily. In it, facts are presented through diagrams and graphs, which are useful to a common man also.2. Establishment of relationship : With the help of statistical methods (correlation), relationship between two or more facts may be established. It may be find out that these facts have any relationship or not, what is the direction and degree of relationship between them etc.3. Comparison : Two or more effects may be compared with the help of statistics. Various averages, rates, percentages and coefficients are used for this purpose.4. Interpretation of problems : With the help of statistical devices, interpretation of various problems may be done. For example by collecting the data of unemployment among educated persons, the nature of employment problems among them may be interpreted.5. Formation of laws and principles of other sciences : Statistics helps to other social and natural sciences in forming the laws and with its help the various rules and principles of those sciences may be tested.6. Helpful in deciding the policy : With the help of statistics various policy decisions may be taken logically and successfully. For example price policy, export-import policy etc. | |
| 1597. |
WHY IS PPC DOWNWARD SLOPING |
| Answer» | |
| 1598. |
Difference Between "economy" and "economics"? |
| Answer» An economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated. The production and consumption of goods and services are used to fulfill the needs of those living and operating within the economy, which is also referred to as an economic system.<br>Economics is a social science that deals with the production, distribution, and consumption of goods and services | |
| 1599. |
Anyone from humanities?? |
| Answer» Yupp..<br>Yes<br>Yes!<br>No....<br>No ?? | |
| 1600. |
Define mixed economy |
| Answer» A mixed economy is variously defined as an economic system blending elements of market economics with elements of planned economies, free markets with state interventionism, or private enterprise with public enterprise. As such, there is no single definition of a mixed economy | |