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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.
| 1901. |
Define micro economic |
| Answer» Micro economics deals with the study of human behavior of individual economic..<br>Micro economics deals with economic problems and economic issues related to microeconomic units like a household, a firm or an industry. | |
| 1902. |
What is the loss of information in classified data? |
| Answer» \'Loss of information\' is a major drawback of the classified data. The classification or grouping of raw data into classes makes it more concise and understandable. But simultaneously there exists loss of information. The calculations involved in the classified data or the continuous series are based on the class midpoints. The items in such series cannot be exactly measured and consequently, an individual observation loses its importance during the statistical calculations. Further, the statistical calculations are based on the values of the class marks, ignoring the exact observations of the data leads to the problem of loss of information. | |
| 1903. |
What are the main limitation of statistics?? |
| Answer» Thanks<br>Main limitations are....here is ur answer● qualitative aspect ignored.● it doesn\'t deal with individual items . ● it doesn\'t depict with entire story of phenomenon .● it is liable to be miscued.● laws are not exact.● results are true only on average.● too many methods to study problems.● statistical results are not always beyond doubt.Hope it helps you!!! | |
| 1904. |
Explain the concept of a prduction function |
| Answer» The functional relationship between physical inputs (or factors of production) and output is called production function. It assumed inputs as the explanatory or independent variable and output as the dependent variable. Mathematically, we may write this as follows:Q = f (L,K)Here, ‘Q’ represents the output, whereas ‘L’ and ‘K’ are the inputs, representing labour and capital (such as machinery) respectively. | |
| 1905. |
What are main types of inflation |
| Answer» There are two main types of inflation: demand pull and cost push. Fueled by income and strong consumer demand, demand-pull inflation occurs when the economy demands more goods and services than are available. | |
| 1906. |
Differnciate between continuous and discrete variable |
| Answer» Discrete variables—It refers to those variables which are exact or finite and are not expressed in fractions.Continuous Variable— Are those variables which can be of any partial value within the range. | |
| 1907. |
Differentiate between discrete and continous variable |
| Answer» Discrete variables—It refers to those variables which are exact or finite and are not expressed in fractions.Continuous Variable— Are those variables which can be of any partial value within the range. | |
| 1908. |
Wealth defination by adam smith . |
| Answer» Economics is the science of wealth. | |
| 1909. |
Make a bar diagram of the following data on India\'s population |
| Answer» | |
| 1910. |
Important Questions Of Cost with weightage of questions...Plzz answer |
| Answer» | |
| 1911. |
Explain law of variable proportion |
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| 1912. |
What is slope of budget in micro economics |
| Answer» Price line | |
| 1913. |
What is salt Run. explain the behaviour of the total possibility curve in in short run |
| Answer» disterete series | |
| 1914. |
Who is known as the father of economics |
| Answer» Adam smith | |
| 1915. |
Explain the condition of consumer\' s equilibrium under indifference curve approach |
| Answer» According to the indifference curve analysis, consumer\'s equilibrium is at a point where the slope of the indifference curve is equal to the slope of the budget line or the price line.The conditions of the consumer\'s equilibrium are\tThe\xa0given price line should be tangent to an\xa0indifference curve\xa0or marginal rate of satisfaction of good X for good Y (MRSxy) must be equal to the price ratio of the two goods. i.e.{tex}\\operatorname { MRS } _ { x y } = \\frac { P _ { x } } { P _ { y } }{/tex}, where\tMRSxy = Marginal Rate of Substitution of good X and good Y\tPx = Price of good X\tPy = Price of good Y, and\tAt the point of equilibrium, the indifference curve must be convex to the origin. It implies that at the point of equilibrium, MRS must be diminishing.\t\tIn the diagram given, P is the equilibrium point at which budget line touches the Indifference Curve IC2.\tThe consumer’s consumption decision is explained by combining the budget line and the indifference map | |
| 1916. |
Important relationships in PRODUCTION and COST chapter |
| Answer» | |
| 1917. |
Application of statistics for economic growth |
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| 1918. |
Difference b/w supply and stock |
| Answer» \tSupplyStockSupply refers to the quantity of a commodity which is actually brought into the market for sale.Stock means the total volume of commodity which can be brought into the market for sale.It indicates only actual sale incurred in the market and is expressed in terms of flow of goods per time period.It indicates potential supply in the market. It is not expressed in terms of flow of goods per time period.\t | |
| 1919. |
Difference between Implicit Cost and Explicit Cost |
| Answer» Implicit cost is opportunity cost of using self-owned inputs. Explicit cost is a opportunity cost of purchasing inputs from the market.<br>implied cost, or notional cost, is the opportunity cost equal to what a firm must give up in order to use a factor of production for which it already owns and thus does not pay rent. It is the opposite of an explicit cost, which is borne direct An explicit cost is a direct payment made to others in the course of running a business, such as wage, rent and materials, as opposed to implicit costs, where no actual payment is made. | |
| 1920. |
Firm sector |
| Answer» Notes on chapter 5, theory of demand | |
| 1921. |
What is modernization |
| Answer» Modernization is the current term for an old process—the process of social change whereby less developed societies acquire characteristics common to more developed societies. The process is activated by international, or intersocietal, communication. | |
| 1922. |
What is the latest syllabous for economics in commerce ? ? |
| Answer» Yarr yha mko indian economy on the eve of independece k notes ni mil ra h<br>Saabh kuchh | |
| 1923. |
How to calculate head count ratio. Explain with example and give it\'s formula |
| Answer» | |
| 1924. |
I also want statistics subject to learn |
| Answer» | |
| 1925. |
Biscuit name of the foreign company |
| Answer» | |
| 1926. |
explain vicious cycle |
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| 1927. |
Impacts of WTO on Indian economy |
| Answer» | |
| 1928. |
Simple lines on subsidy in favour |
| Answer» | |
| 1929. |
Statistics of economic |
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| 1930. |
What are inputs of production otherwise called? |
| Answer» | |
| 1931. |
\'scarcity is the root cause for all economic problems\'.explain the statement. |
| Answer» Scarcity, or limited resources, is one of the most basic economic problems we face. We run into scarcity because while resources are limited, we are a society with unlimited wants. Therefore, we have to choose. We have to make trade-offs. We have to efficiently allocate resources. We have to do those things because resources are limited and cannot meet our own unlimited demands.Without scarcity, the science of economics would not exist.\xa0Economics\xa0is the study of production, distribution, and consumption of goods and services. If society did not have to make choices about what to produce, distribute, and consume, the study of those actions would be relatively boring. Society would produce, distribute, and consume an infinite amount of everything to satisfy the unlimited wants and needs of humans. Everyone would get everything they wanted, and it would all be free. But we all know that is not the case. The decisions and trade-offs society makes due to scarcity is what economists study. | |
| 1932. |
There are10 students who excel in game you are to select 3 out of 10how you do it give details |
| Answer» | |
| 1933. |
Tillors kon hota hai |
| Answer» Tillers are the people who work on the given peice of land by the owner.At time of independence, tillers were given a peice of land by owners. The owners were crop sharing not cost sharing.<br>Tillers are the land owners who own the lands. | |
| 1934. |
What are the cause of economic problem |
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| 1935. |
There is no long question in your impotant question segment |
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| 1936. |
What is mailing give two merits and demarits |
| Answer» Email is just one of the types of electronic communication available to us.In a work place, communication is extremely important. Employees are now luckily able to make use of the many advantages of email.\tIt is very easy to communicate effectively with anybody within the office or anywhere in the world regardless of where they are situated.\xa0\tAnother advantage of having business email communication at work is that you can respond to clients quickly and easily. This means that you no longer need to spend hours on the phone, trying to get through and leaving messages with receptionists.\tMessages can be sent quickly, in an instant.The many advantages of using email.\tSpam emails can be sent which can clutter your inbox.\tEmail hoaxes.\tViruses can be sent by email.\tMisunderstandings can occur if messages are not constructed properly. | |
| 1937. |
Important topic of chapter public finance? Main topics of this chapter? |
| Answer» | |
| 1938. |
Average of statistics is correct or not |
| Answer» Why it is not correct it is correct.<br>Not | |
| 1939. |
What is father of economics |
| Answer» Adam Smith is the father of economics | |
| 1940. |
Explain how important substitution can protect domestic industry. |
| Answer» | |
| 1941. |
What is statastic |
| Answer» Statics is an enquiry into the factors that determine the wealth of a country and it\'s growth. | |
| 1942. |
How many public sector enterprises were privatised with introduction of new economic policy |
| Answer» | |
| 1943. |
Introduce to poverty |
| Answer» Poverty is general scarcity or the state of one who lacks a certain amount of material possessions or money. It is a multifaceted concept, which includes social, economic, and political elements.Absolute poverty or destitution refers to the lack of means necessary to meet basic needs such as food, clothing and shelter.Absolute poverty is considered to be about the same independent of location.Relative poverty occurs when people in a country do not enjoy a certain minimum level of living standards as compared to the rest of the population and so would vary from country to country, sometimes within the same country. | |
| 1944. |
What is economic activity. |
| Answer» Activities with the motive of earning monetary consideration | |
| 1945. |
What is the economic |
| Answer» Economics is an how the people choose to employee that cholud have been alternative resources to satisfying there needs is called ecomics<br>Economic is a "social science concerned chiefly with description and analysis of the production, distribution and consumption of goods and services. | |
| 1946. |
What is collection of data |
| Answer» Data collection is a process of gathering and measuring information from variety of sources. | |
| 1947. |
Draw a frequency or Ogive curve for following data |
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| 1948. |
Meaning of industrial licencing |
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| 1949. |
Meaning of industrial lisencing |
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| 1950. |
What is meant by colonialism? |
| Answer» | |