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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.
| 3351. |
What is marginal utility |
| Answer» Marginal Utility (MU)\xa0It refers to additional utility on account of the consumption of an additional unit of a commodity.MU=TUn\xa0-TUn_1\xa0Where, MU = Marginal UtilityTUn\xa0= Total Utility at V units TUn_i= Total Utility at (n – 1) units. | |
| 3352. |
What is law of degree ?? In statistics of chapter correlation ........ |
| Answer» ???? | |
| 3353. |
What is monotonic preferences |
| Answer» Its a term used in Micro- economics, which means that a rational consumer will always choose a commodity which gives him maximum satisfaction, and he wants to buy that commodity only, until and unless he approaches his equilibrium point... | |
| 3354. |
What is opportunity cost explain with a suitable example |
| Answer» Next best alternative use of resources are called opportunity cost For ex first we take a job it\'s salary was 10000 then we take another job it\'s salary was 20000 so 10000 are called opportunity cost | |
| 3355. |
Mammary idek oaths docent inside app |
| Answer» ?????<br>? kyaaaa....... | |
| 3356. |
What is an economy ? Central problems of economy: what, how, and for whom to produce? |
| Answer» | |
| 3357. |
What are the subject matter of ecomics (traditional view) ? |
| Answer» | |
| 3358. |
Do all firms always maximise their profit..??? |
| Answer» They try to do. But sometimes it may fail | |
| 3359. |
How can I solve projects |
| Answer» | |
| 3360. |
Whether calculator is allowed for 12th board exam? |
| Answer» No calculator is not allowed in Boards. All the calculations are required to be done manually.\xa0 | |
| 3361. |
What is a statistical table |
| Answer» | |
| 3362. |
Difference between monopoly and oligopolastic competition |
| Answer» <th>BASIS FOR COMPARISON</th> <th>MONOPOLY</th> <th>OLIGOPOLY</th> \t\t\tMeaningMonopoly is a form of market structure, where only one seller sells his distinctive product and dominates the entire market.A market situation in which there are few firms in the market that sells either homogeneous or differentiated product and compete in the market.Number of playersOneTwo to tenProduct DifferentiationExtremeNone to substantialCompetitionDoes not exist.LittlePricesHigh prices are charged.Fair prices are charged.Control over priceVery considerableSomeBasis of setting priceDemand of consumers for the product.Competitors prices.Restrictions to entryDue to economic, institutional, legal or any other reason.Due to economies of scale.\t | |
| 3363. |
What is consumer equlibirum |
| Answer» Consumer’s Equilibrium refers to a situation where a consumer gets maximum satisfaction out of his given money income and given market price.Consumer’s equilibrium through utility analysis can be ascertained with reference to:\tA single commodity\tTwo or several commodities | |
| 3364. |
W he en tp is 0 that situation mpis what |
| Answer» MP will be negative | |
| 3365. |
What is random |
| Answer» When each And Every Item Of The Universe Have Equal chance is called Random? | |
| 3366. |
What are the conditions of producer equilibrium under perfect competition |
| Answer» Under perfect competition market producer equilibrium is equal to its MR and AR | |
| 3367. |
Standard deviation formula |
| Answer» There are two formulae for standard deviation.{tex}s = \\sqrt {\\frac{{\\sum {{{(X - \\bar X)}^2}} }}{{n - 1}}}{/tex}\xa0(where n is the sample size).The second formula is a re-arrangement which may make it better for calculation purposes.{tex}s = \\sqrt {\\frac{{\\sum {{X^2} - {{\\frac{{(\\sum {X)} }}{n}}^2}} }}{{n - 1}}}{/tex}\xa0(where n is the sample size). | |
| 3368. |
Demand curve of monopoly firm |
| Answer» monopoly means | |
| 3369. |
Name any two commodities whose demand is less elastic. |
| Answer» inferior commodities and perishable goods | |
| 3370. |
what is graph.describe its types |
| Answer» | |
| 3371. |
Price elasticity of demand and slope of demand curve are the two same terms. Explain. |
| Answer» No, the slope of demand and the elasticity of demand are two different concepts. Slope of demand curve is referred as change in price divided by the change in quantity demand i.e {tex}\\frac{\\;\\triangle P}{\\;\\bigtriangleup Q}\\;{/tex}Whereas elasticity measures the responsiveness of demand for a commodity to change in its price i.e.while computing the elasticity (as in the case of price elasticity of demand), the numerator has the quantity while the denominator has the price. As elasticity is measured on percentage basis, therefore the answer of the same is unit less whereas slope does contain units as the components like price and quantity are measured in units for e.g. how many rupees spent on buying 1 kg tomatoes, etc. | |
| 3372. |
Project On GDP |
| Answer» Gross domestic prodect | |
| 3373. |
What is meant by the problem of allocation of resources |
| Answer» It is a other name of central problem that confuse about their production<br>Problem of allocation of resources is the problem related to the allocation of resources to alternative uses in a manner such that scare resources are optimally utilised. | |
| 3374. |
What is the supply demand curve? |
| Answer» | |
| 3375. |
Where is central problem of an economy chapter |
| Answer» | |
| 3376. |
Economics projects |
| Answer» | |
| 3377. |
Meaning of GNP |
| Answer» Gross National Product.. | |
| 3378. |
Topics of project |
| Answer» Money in economics | |
| 3379. |
Value of coefficient of correlation is not affected by change of orgin and change of scale. Explain |
| Answer» Directly | |
| 3380. |
Why sellers in a perfect competition market unable to change price of his goods???? |
| Answer» Because there are many buyers and sellers and due to this sellers individually have negligible effect on price.<br>Because he is price taker not the price maker | |
| 3381. |
What is the meant of price index |
| Answer» A price index is a normalized average of price relatives for a given class of goods or services in a given region, during a given interval of time . | |
| 3382. |
Why the budget line slope downward |
| Answer» Budget line is downward sloping because it has a negative slope, i.e. it slopes downwards as more of one good can be bought by decreasing some units of the other good.??? | |
| 3383. |
What is price celling |
| Answer» Laws enacted by the government to regulate prices are called price controls. Price controls come in two flavors. A price ceiling keeps a price from rising above a certain level—the “ceiling”. A price floor keeps a price from falling below a certain level—the “floor”.\tPrice ceilings prevent a price from rising above a certain level.\tWhen a price ceiling is set below the equilibrium price, quantity demanded will exceed quantity supplied, and excess demand or shortages will result. | |
| 3384. |
What means mr ar |
| Answer» MR is marginal revenue and AR is average revenue | |
| 3385. |
Define the three distinct component of economics? |
| Answer» | |
| 3386. |
Oligopoly market |
| Answer» What is duopoly market??<br>Explanation in brief<br>It refers ro form of market where there are few firms selling homogeneous or differentiated things. | |
| 3387. |
What is infrastructure?? |
| Answer» Infrastructure means who help in certain ways and aspect and the situation like transportation, education, insurance etc. | |
| 3388. |
Explain the concepts of Price of factors of production |
| Answer» Factor pricing is associated with the prices that an entrepreneur pays to avail the services rendered by the factors of production. For example, an entrepreneur needs to pay wages to labor, rents for availing land, and interests for capital so that he/she can earn maximum profit. These factors of production directly affect the production process of an organization. | |
| 3389. |
Which chapter is imp in statistics of economics |
| Answer» Correlation, Measures of dispersion etc. | |
| 3390. |
Define supply? |
| Answer» \tSupply refers to the quantity of a commodity that a firm is willing and able to offer for sale, at each possible price during a given period of time.\t In other words, supply is that part of stock which is actually brought into the market for sale. Stock can never be less than supply.\tFor example, a seller has a stock of 50 tonnes of sugar in the go down. If the seller is willing to sell 30 tonnes at a price of Rs. 37 per kg, then supply of 30 tonnes is a part of total stock of 50 tonnes. | |
| 3391. |
Types of economy?? |
| Answer» (Market,Capitalist, Socialist and Mixed )<br>There are four primary types of economic systems in the world: traditional, command, market and mixed.<br>Market , centeral , mix economy.<br>Capitalist economy, socialist economy and mixed economy<br>Mixed economy,centrally planned economy,free or market economy<br>There are two types of economy . Microeconomics and macroeconomics. | |
| 3392. |
What do you mean by Scarcity? |
| Answer» Scarcity is the fundamental economic problem of having seemingly unlimited human wants and needs in a world of limited resources.<br>Scarcity means the limitation of goods with respect to the wants<br>Scarcity means shortage | |
| 3393. |
Under what condition does marginal revenue is always is always equal explain |
| Answer» Under Perfect Competition, marginal revenue is always equal to price.A competitive firm\'s marginal revenue always equals its average revenue and price. This is because the price remains constant. In a monopoly, because the price changes as the quantity sold changes, marginal revenue diminishes and will always be equal to or less than average revenue. | |
| 3394. |
The value of sound quartiles axis equal to |
| Answer» | |
| 3395. |
Role of economics in strenghtening an economy |
| Answer» | |
| 3396. |
Explain the concept of supplt with the help of table and figure |
| Answer» Easy to compare | |
| 3397. |
How can we get correct answer in correlation in economics |
| Answer» | |
| 3398. |
Please explain demand chapter saperately |
| Answer» In which school do yo study | |
| 3399. |
What is an index number |
| Answer» An index number is a statistical device for measuring changes in the magnitude of a group of related variables.Features of Index Number\tIndex numbers are expressed in terms of percentages. However, percentage sign (%) is never used.\tIndex numbers are relative measurement of group of data.\tIndex numbers offer a precise measurement of the quantitative change in the concerned variables over time.\tIndex number show changes in terms of averages.\tThey are expressed in numbers.\tIndex number facilitates the comparative study over different\xa0time period. | |
| 3400. |
Explain the conditions of consumer equililibruim using indifference curve using analysis use diagram |
| Answer» You can explain it better with the help of diagram<br>IC is convex at the point of equilibrium and convex to the origin | |