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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.
| 301. |
Define decrease in demand what causes it? |
| Answer» | |
| 302. |
Why ppc curve slopes downward ? |
| Answer» Because of negative relation b/w two goods. | |
| 303. |
Explain relationship between tu mu |
| Answer» When tu is increases at increasing rate, mu increasesWhen tu is maximum, mu is zero When tu increasing at diminishing rate, mu decreases | |
| 304. |
What is the reason for rightward shift in Ppf |
| Answer» Increase in resources and enhancement in technology | |
| 305. |
Budget set definition |
| Answer» Budget set is the set of all possible combinations of the two goods which a consumer can afford , given his income and prices in the market.<br>A budget set is a set of attainable combination of dgoods and services, given price and income of the consumer<br>The set of bundles available to the consumer is called the budget set. The budget set is the collection of all bundles that the consumer can buy with her income at the prevailing market prices. It is represented by the following condition of inequality: P1x1 + P2x2≤M.<br>A budget set or opportunity set includes all possible consumption bundles that someone can afford given the prices of goods and the person\'s income level. | |
| 306. |
Explain the condition of consumer\'s equilibrium with the help of indifference curve analysis |
| Answer» 1.MRS= price of good X /price of good Y. 2. ic is convex to the point of equilibrium. | |
| 307. |
Explain law of return to scale ? |
| Answer» Purchase return | |
| 308. |
imperfect competition is price taker and industry is price maker ? why ? |
| Answer» In perfect competition firm is price taker and industry is price maker because a single saler and buyer are not in a position to influence prices (because there share in market is very small ) so they have to accept the pices determine by demand and supply forces . In your question it will be perfect comp. in place of imperfect comp. | |
| 309. |
Difference between normal goods and substitute goods |
| Answer» Normal is that which we eat .. then substitute are those which we drink<br>Substitute goods are those which are an alternative to one another in consumption. Normal goods whose demand rises when income rises. | |
| 310. |
Effect of number of substitute on price elasticity od demand |
| Answer» | |
| 311. |
Why does an economic problems arise |
| Answer» Economic problem arises due to unlimited human wants, scarcity of resources and alternative use of resouces.<br>The economic problem is the problem of choice it rises because of scare resources<br>Bcz human wants are unlimited and in relaion to it we have limited resources<br>Because our wants are unlimited but limited resources | |
| 312. |
What is the unit of unitary elast of deamand |
| Answer» 1 | |
| 313. |
What are the source of data |
| Answer» primary and secondary | |
| 314. |
Define the features of scope &limitation of statistics |
| Answer» | |
| 315. |
Micro ka importance question send karo |
| Answer» But how | |
| 316. |
Different between Microeconomics and macroeconomic |
| Answer» Micro economic is the branch of economic that study individual commodity for eg price of a commodity Macro is the branch that study of economy as a whole for eg unemployment<br>1)Microeconomics depends on macroeconomic ( 2) law of demand came into existence from the analysis of the behaviour of a group of people (3)price of a commodity is influenced by the general price level prevailing in the economic .Macroeconomics(1) macroeconomics depends on microeconomics (2)national income of a country is nothing but the sum total of income of individual units of the country (3) aggregate demand depends on demand of individual household of the economy ..<br>Give me answer | |
| 317. |
Why does a consumer demand more of a commodity at less prices |
| Answer» | |
| 318. |
Difference between primary and secondary data |
| Answer» \tPrimary DataSecondary DataPrimary data are those that are collected for the first time.Secondary data refer to those data that have already been collected by some other person.These are\xa0original because these are collected by the investigator for the first time.These\xa0are not original because someone else has collected these for his own purpose.These\xa0are in the form of raw materials.These\xa0are in the finished form.These\xa0are more reliable and suitable for the enquiry because these are collected for a particular purpose.These are\xa0less reliable and less suitable as someone else has collected the data which may not perfectly match our purpose.Collecting primary data is quite expensive both in the terms of time and money.Secondary data requires less time and money; hence it is economical.No particular precaution or editing is required while using the primary data as these were collected with a definite purpose.Both precaution and editing are essential as secondary data were collected by someone else for his own purpose.\t | |
| 319. |
Pls send me your economics exam paper |
| Answer» Exam tu economic 14 /3/19 hai exam paper chahiye mai 14 /3/19 ko send karti hu | |
| 320. |
What is questionnaire method explain its features and merits |
| Answer» | |
| 321. |
What do you mean by opportune cost? |
| Answer» It is the cost of next best alternative that a resource can be put into use<br>First next best alternative forgone. | |
| 322. |
Can two ppc. Urve can never intersect |
| Answer» Yes | |
| 323. |
Law of suppi |
| Answer» When other factors remain constant, the increase in price leads to increase in supply. The decrease in price leads to decrease in supply. +\'ve relationship. Go through notes for further | |
| 324. |
numerical of supply in demaan |
| Answer» What\'s the question | |
| 325. |
Specialconditiondemandhaselasticandinrlastic |
| Answer» | |
| 326. |
What are the main source of data |
| Answer» Sources of Data1. Primary Source2. Secondary Sourcesa. Published sourcesb. Un-published sources | |
| 327. |
Define normative economics ? |
| Answer» Normative economics is an outlook on economics that contemplates normative or ideologically dictatorial, discernments toward economic enhancement, statements, investment projects and framework. Disparate to positive economics, which depends on intentional data analysis, normative economics decisively solicitudes itself with value discernments and statements of “what has to be” rather than certitude based on cause-and-effect declarations. Normative economics manifests ideological judgments about what may be the outcome in an economic pursuit if public policy changes are made. | |
| 328. |
Lorenz curve? |
| Answer» How u sre inserting all the graph and tables on this app<br>Lorenz Curve is a curve which measures the distribution of wealth and income. Now it is also used for the study of the distribution of profits, wages etc.Lorenz Curve<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif; color: rgb(51, 51, 51); font-size: 18px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">The measures of dispersion discussed so far give a numerical value of dispersion. A graphical measure called Lorenz Curve is available for estimating dispersion. You may have heard of statements like \'top 10% of the people of a country earn 50% of the national income while top 20% account for 80%\'. An idea about income disparities is given by such figures. Lorenz Curve uses the information expressed in a cumulative manner to indicate the degree of variability. It is especially useful in comparing the variability of two or more distributions. Given below are the monthly incomes of employees of a company.</font></font><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">TABLE 6.4</font></font><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;"></font></font>\xa0<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">Example 16</font></font><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;"></font></font>\xa0\xa0\xa0\xa0\xa0<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">Construction of the Lorenz Curve</font></font>\xa0<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">Following steps are required.</font></font>\t<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">Calculate class mid-points and find cumulative totals as in Col. 3 in the example 16, given above.</font></font>\t<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;"><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">Calculate cumulative frequencies as in Col. 6.</font></font></font></font>\t<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;"><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">Express the grand totals of Col. 3 and 6 as 100, and convert the cumulative totals in these columns into percentages, as in Col. 4 and 7.</font></font></font></font>\t<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;"><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">Now, on the graph paper, take the cumulative percentages of the variable (incomes) on Y axis and cumulative percentages of frequencies (number of employees) on X-axis, as in figure 6.1. Thus each axis will have values from \'0\' to \'100\'.</font></font></font></font>\t<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;"><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">Draw a line joining Co-ordinate (0, 0) with (100,100). This is called the line of equal distribution shown as line \'OC\' in figure 6.1.</font></font></font></font>\t<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;"><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;">Plot the cumulative percentages of the variable with corresponding cumulative percentages of frequency. Join these points to get the curve OAC.</font></font></font></font>Studying the Lorenz Curve<font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif; color: rgb(51, 51, 51); font-size: 18px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial;">OC is called the line of equal distribution, since it would imply a situation like, top 20% people earn 20% of total income and top 60% earn 60% of the total income. The farther the curve OAC from this line, the greater is the variability present in the distribution. If there are two or more curves, the one which is the farthest from line OC has the highest dispersion.</font></font><font face="Verdana"><font style="text-shadow: rgba(255, 255, 255, 0.3) 0px 1px 1px; user-select: initial !important; line-height: 1.5em; -webkit-font-smoothing: antialiased; font-family: roboto, sans-serif !important;"></font></font> | |
| 329. |
Write any name of random sampling |
| Answer» Random sampling is also known as sampling error | |
| 330. |
Explain the central problem related to choice of technique of production |
| Answer» Refer to book | |
| 331. |
Important topics of statistics bata do pls |
| Answer» Ty<br>mean,mode ,medain , table conversion ,pie diagram, correlation, index no., o-give curve, etc<br>Correlation, mean median and mode,index numbers | |
| 332. |
What is economics and economy |
| Answer» Economy is a place where people interaction with each other with motive of earning money for themselves ..Economy is a branch of knowledge that studys consumption , production , exchange and distribution of wealth<br>Economics is a subject in we study about the economic problems of human life which arise due to 2 reasons which are scarce resources and these resources have their alternative uses.Economy is a system by which people of an area earn their living<br>Economics is a relationship between scarce resources and their alternative uses.Economy is a system by which people earn their livelihood or economy can be defined as the language of economics | |
| 333. |
Re appear question papers |
| Answer» | |
| 334. |
Differnce between price index and quantity index |
| Answer» A price index measures changes in prices between two points of time whereas a quantity index measures changes in the volume of goods produce. | |
| 335. |
Definition of mailing method |
| Answer» | |
| 336. |
Explain the law of variable proportion |
| Answer» The following three people explained the Law of Variable Proportions:\t“As the proportion of the factor in a combination of factors is increased after a point, first, the marginal and then the regular product of that factor will diminish.” Benham\t“An increase in some inputs relative to other fixed inputs will in a given state of technology cause output to increase, but after a point, the extra output resulting from the same additions of extra inputs will become less and less.” Samuelson\t“The law of variable proportion states that if the inputs of one resource are increased by equal increment per unit of time while the inputs of other resources are held constant, total output will increase, but beyond some point, the resulting output becomes higher will become smaller and smaller.” Leftwitch | |
| 337. |
What is the formula of standard deviation of two colum x and y |
| Answer» It means u have to calculate combined standard deviation ....where x and y both are of individual series | |
| 338. |
types pf consumer equilibrium |
| Answer» 3rd one is consumer equlibrium with IC<br>Consumer’s Equilibrium\xa0refers to a situation where a consumer gets maximum satisfaction out of his given money income and given market price.2. Consumer’s equilibrium\xa0through utility analysis can be ascertained with reference to:\tA single commodity\tTwo or several commodities(a) Single Commodity Consumer Equilibrium:(i)\xa0When purchasing a unit of a commodity, a consumer compares its price with the expected utility from it. Utility obtained is the benefit, and the price payable is the cost. The consumer compares benefit and the cost. He will buy the unit of a commodity only if the benefit is greater than or at least equal to the cost.(ii)\xa0Equilibrium Conditions for Single Commodity Consumer Equilibrium(b) Two Commodities Consumer Equilibrium (Law of Equi-Marginal Utility or Law of Substitution or Gossen’s Second Law or Law of Maximum Satisfaction)(i)\xa0According to the two commodities consumer equilibrium or law of Equi-marginal utility, a consumer gets maximum satisfaction, when ratios of MU of two commodities and their respective prices are equal. | |
| 339. |
Problems of underutilisation of resources?? |
| Answer» Leads to DRF(Diminishing Return to a Factor) | |
| 340. |
Explain the Lorenz curve method. |
| Answer» First we have to take cumulative sum of \'x\' and then cumulative% likeX is 100,200,400,500,800 total =2000Cumulative sum will be 100,300,700,1200,2000 after that You will have to find cumulative%5,15,35,60,100 would be your answer | |
| 341. |
What is marginal rate of transformation? |
| Answer» Marginal rate of transformation (MRT) is defined as the rate at which one commodity is sacrifced to gain an additional unit of other commodity.It is also known as MOC(marginal opportunity cost)<br>Marginal rate of transformation is the rate where a consumer is willing to substitute one good for another good. | |
| 342. |
What is the formula of mean,medianand mode |
| Answer» | |
| 343. |
What are the features of statistics |
| Answer» Features of statistics :1- aggregate of facts. 2- compare with each other. 3- numerical expression.4- present in a systematic manner.5- in relation with every fact. 6- mathematically expressed. | |
| 344. |
All the formulas of measures of dispersion |
| Answer» | |
| 345. |
What is relationship between AR and MR |
| Answer» | |
| 346. |
What is raw data? |
| Answer» Unmodified data is called raw data | |
| 347. |
Double commodity Case |
| Answer» | |
| 348. |
Who intriduced \'Standard deviation\' as measure of dispersion |
| Answer» I think Karl Pearson | |
| 349. |
marginal opp cost |
| Answer» Marginal opportunity cost is the cost generated by consuming one more unit of a given commodity.<br>Marginal opportunity cost is the ratio between one additional gain to one additional loss<br>The next best alternative that is forgone is called moc. Its also known as alternative cost or mrt. | |
| 350. |
Who makes 5 year plan in india |
| Answer» | |