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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.
| 151. |
There are three kind of lies , lies, damned lies and statistics explain the state ment |
| Answer» | |
| 152. |
What is bumper production - boon or bane for farmers ? |
| Answer» hello<br>What is bumper Production boon or bane | |
| 153. |
Is any sample paper in economics class 12 is available for session 2019-20? |
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| 154. |
Which subject is better economics or geography.....please ans |
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| 155. |
Why is ppc slope move left to right |
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| 156. |
Solution of module 1 writing class 11 |
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| 157. |
What is aggregate of facts |
| Answer» What is aggregate of facts | |
| 158. |
State the meaning of classification |
| Answer» Classification is the systematic arrangement of animals and plants in groups or categories according to established criteria specifically | |
| 159. |
Why does non-sampling errors occur |
| Answer» These\xa0errors are a consequence which can be traced and may arise at any stage of inquiry, viz planning and execution of the survey and collection, processing and analysis of data.some of the non-sampling errors are:\tErrors in Data Acquisition\xa0It arises from the\xa0recording of incorrect responses.\tNon-response Errors It occurs, if an interviewer is unable to contact a person listed .\tSampling Bias It occurs when the sampling plan is such that some members of the target population could not possibly be included. | |
| 160. |
Write the name of the statistical method which is less expensive and time saving |
| Answer» write the name of statistical method which is less expensive or time saving | |
| 161. |
What are non-sampling errors |
| Answer» These\xa0errors are a consequence which can be traced and may arise at any stage of inquiry, viz planning and execution of the survey and collection, processing and analysis of data. | |
| 162. |
What is sampling error |
| Answer» The Sampling Error is the difference between the result of studying a sample and the result of the census of the whole population. | |
| 163. |
Expland nsso |
| Answer» The Full form of NSSO is National Sample Survey Office. | |
| 164. |
Define sample |
| Answer» A sample is a smaller, manageable version of a larger group. It is a subset containing the characteristics of a larger population. | |
| 165. |
What is the scope of statistics now a day |
| Answer» Scope and importance of Statistics:1.\xa0Statistics and planning:\xa0Statistics is\xa0indispensable into planning in the modern age which is termed as “the age of planning”. Almost all over the world the govt. are re-storing to planning for economic development.2.\xa0Statistics and economics:\xa0Statistical data and techniques of statistical analysis are\xa0immensely useful in solving economic\xa0problem\xa0such as determination of\xa0wages and\xa0price, time series analysis, demand analysis.3.\xa0Statistics and business:\xa0Statistics is an responsible tool of production control. Business executive are relying more and more on statistical techniques for studying the much and desire of the valued customers. | |
| 166. |
Why does economic Problem arise |
| Answer» Economic problem arises because of scarcity of resources and unlimited human wants.(i) Wants are unlimited:(a) This is a basic fact of human life. Human wants are unlimited.(b) They are not only unlimited but also grow and multiply very fast.\xa0(ii) Resources are limited:(a) The resources to produce goods and services to satisfy human wants are available in limited quantities. Land, labour, capital and entrepreneurship are the basic scare resources.(b) These resources are available in limited quantities in every economy, big or small, developed or underdeveloped, rich or poor. Some economies may have more of one or two resources but not all the resources. Moreover the resources have alternate uses.(c) For example, Indian economy has relatively more labour but less capital and land. The U.S. economy has relatively more land but less labour. No economy in the world has all the\xa0resources in abundance. (iii) Resources have alternative uses:(iii)\xa0Generally a resource has many alternative uses.(b) A worker can be employed in a factory, in a school, in a government office, self employed and so on.(c) Like this, nearly all resources have alternative uses. But the problem is that which resource should be put to which use.So, the economy has to decide as to how to utilise theser resources and which will be the best alternative for utilising the resources so that wants are satisfied to the maximum and the economy moves towards solving their central problems. | |
| 167. |
Give two examples each of samples,population and variable |
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| 168. |
Explain the detination of Economics given by Marashall and its limitation. |
| Answer» Economics is a study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisites of well-being.\xa0 | |
| 169. |
Define economy |
| Answer» Economy is\xa0the state of a country or region in terms of the production and consumption of goods and services and the supply of money. | |
| 170. |
During the British rule that traditional handicraft industry decline give its reason |
| Answer» The decline of the handicraft industry in India resulted in\xa0massive unemployment and a\xa0rise in demand for Britain\'s manufactured goods. | |
| 171. |
What is market economy which countries adopted this with detail |
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| 172. |
Explain for whom to produce? |
| Answer» This problem involved selection of people who ultimately consume good and service s | |
| 173. |
Why was adam Smith called the father of economics |
| Answer» Yes | |
| 174. |
What is econimics |
| Answer» \tEconomics is a social science dealing with the study of economic problems.\tEconomics is a\xa0social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices on allocating resources to satisfy their wants and needs, trying to determine how these groups should organize and coordinate efforts to achieve maximum output.\tEconomics can generally be broken down into\xa0macroeconomics, which concentrates on the behavior of the aggregate economy, and\xa0microeconomics, which focuses on individual consumers and businesses. | |
| 175. |
Show the effect of natural climate on production possibility curve |
| Answer» | |
| 176. |
Explain why PPC is concave shape curve |
| Answer» PPC is concave to the origin because of increasing Marginal opportunity cost. This is because inorder to increase the production of one good by 1 unit more and more units of the other good have to be sacrificed since the resources are limited and are not equally efficient in the production of both the goods. | |
| 177. |
What do you understand by economics? |
| Answer» | |
| 178. |
Explain the meaning of opportunity cost with the help of production possibility schedule |
| Answer» The resources in an economy are scarce and they have alternate uses. A resource can be utilised in only one alternative. That means the best alternative is to be chosen. In doing so, we have to sacrifice the other alternatives. Thus, Opportunity cost of any commodity is the amount of other good which has been given up in order to produce that commodity. Alternatively opportunity cost of a given activity is the value of the next best activity.Production Possibility Schedule\tProduction PossibilitiesProduction of Commodity XProduction of Commodity YA015B114C212D39E45F50\tInitially at combination B, in order to produce one unit of X, the economy has to sacrifice one unit of Y. So, at combination B, opportunity cost is 1 unit of good Y which is sacrifice. . At combination C, for producing additional unit of commodity X, the economy has to sacrifice 2 units of commodity Y. So, at combination C, opportunity cost is 2 units, Similarly, at combination D, for producing additional unit of commodity X, the economy has to sacrifice 3 units of commodity Y. So, at combination C, opportunity cost is 3 units and so on. | |
| 179. |
Explain the problem for whom to produce? |
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| 180. |
Scarcity causes economic problem how |
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| 181. |
What are the functions of statistic |
| Answer» (1) Statistics helps in providing a better understanding and exact description of a phenomenon of nature.(2) Statistics helps in the proper and efficient planning of a statistical inquiry in any field of study.(3) Statistics helps in collecting appropriate quantitative data. | |
| 182. |
Explain vital aspects of functioning of an economy. ( 3 marks ) |
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| 183. |
Why should statistical data be collected in a systematic manner? |
| Answer» Statistical data should be collected in a systematic and orderly manner because no conclusions can be drawn from statistics collected in a haphazard manner and data collected in such a manner will not be reliable. For accuracy and reliability of data, the figures should be collected in a systematic manner. | |
| 184. |
Show consumer equilibrium with the help of marshal cardinal theory |
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| 185. |
Scarcoty causes economic problems? How? |
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| 186. |
Why is choice essential in the study of economics |
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| 187. |
What happens when MUx is not equals to Price of X? |
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| 188. |
Distinguish between statistics in singular sense and statistics in plural sense |
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| 189. |
What do you mean by economics |
| Answer» It is a science that analysis the choice making economic behaviour.<br>Economics is a subject which deals with study of economy/money management...<br>What do yoh mean by economics | |
| 190. |
Explain utility with example |
| Answer» 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. | |
| 191. |
Explain the meaning of statistical enquiry or survey ? |
| Answer» A survey is an investigation about the characteristics of a given population by means of collecting data from a sample of that population and estimating their characteristics through the systematic use of statistical methodology. | |
| 192. |
Mention any three causes, which were responsible for the economic reforms. |
| Answer» Labour resource | |
| 193. |
State the condition of consumer\'s equilibrium. |
| 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. | |
| 194. |
how to make project on ppc |
| Answer» how to make project on ppc | |
| 195. |
Why Indian agriculture was stagnent at the eve of the independence |
| Answer» | |
| 196. |
Full form of NSSC |
| Answer» National Senior Service Corps | |
| 197. |
how is equilibrium of the consumer affected when mum happens to rise and px is constant |
| Answer» If marginal utility of money begins to rise while price remains constant then this implies that marginal utility of a rupee spent on the commodity (MUx/px) is less than the marginal utility of money (MUm) ). In this case, the consumer would reduce consumption of commodity till he again finds equality between the two. | |
| 198. |
Pls explain me about public private partnership, outsourcing and outward foreign direct investment |
| Answer» Thanks but if u have more information pls help me<br>Public private partnership is carried with any of two or both primary objectives in mind, viz. ease in raising capital and bringing in domain expertise or management for a project. In India, this is being done and planned in sectors where there is a need to shore up output in order to meet the basic needs of a growing economy. A classic example would be in the power sector, both in production of electric power and also in its transmission and distribution.Some Companies get some of their work done outside of its organisation, sometimes in the country where it is based and at other times in a foreign Country, at a cheaper rate, but not compromising on the laid down standards. In business parlance, this is called outsourcing.Outward FDI is investment by a Country\'s business groups overseas in carrying out economic activities away from the shores of the country of origin of the capital thus deployed. | |
| 199. |
Function of statistics with example |
| Answer» | |
| 200. |
Statistics is affected by multiplicity of causes |
| Answer» It means that statistics is not affected by any single factor but affectrd by many causes. For e.g.If their 20% rise in food prices then rise in food prices may only be not due to a single factor but may be due to high demand, shortage of food etc. | |