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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.
| 3451. |
Write the indifference curve approch and explain it all property of IC ? |
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| 3452. |
Budgetline |
| Answer» Budget Line<br>it is a line showing different possible combinations of good-1 and good-2 which a consumer can buy giving his budget and prices of both the goods. it is also known as price line. | |
| 3453. |
Definition of mean, median and mode |
| Answer» These all are central measure of tendency | |
| 3454. |
What is total cost |
| Answer» TC=TVC+TFC<br>The sum total of total fixed cost and total variable cost .<br>sorry i wrote wrong answer ????<br>the sum total of utility derived from consuming all units of a commodity is known as total utility | |
| 3455. |
Avc grape |
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| 3456. |
Which one these is unaffected by outliersa meanB inter-quartile range C standard deviationD range |
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| 3457. |
Explain any six factor determing price elasticity of demand |
| Answer» 6. Number of Uses:If the commodity under consideration has several uses, then its demand will be elastic. When price of such a commodity increases, then it is generally put to only more urgent uses and, as a result, its demand falls. When the prices fall, then it is used for satisfying even less urgent needs and demand rises.<br>Various factors which affect the elasticity of demand of a commodity are:1. Nature of commodity:Elasticity of demand of a commodity is influenced by its nature. A commodity for a person may be a necessity, a comfort or a luxury.i. When a commodity is a necessity like food grains, vegetables, medicines, etc., its demand is generally inelastic as it is required for human survival and its demand does not fluctuate much with change in price.ii. When a commodity is a comfort like fan, refrigerator, etc., its demand is generally elastic as consumer can postpone its consumption.iii. When a commodity is a luxury like AC, DVD player, etc., its demand is generally more elastic as compared to demand for comforts.iv. The term ‘luxury’ is a relative term as any item (like AC), may be a luxury for a poor person but a necessity for a rich person.2. Availability of substitutes:Demand for a commodity with large number of substitutes will be more elastic. The reason is that even a small rise in its prices will induce the buyers to go for its substitutes. For example, a rise in the price of Pepsi encourages buyers to buy Coke and vice-versa.Thus, availability of close substitutes makes the demand sensitive to change in the prices. On the other hand, commodities with few or no substitutes like wheat and salt have less price elasticity of demand.3. Income Level:Elasticity of demand for any commodity is generally less for higher income level groups in comparison to people with low incomes. It happens because rich people are not influenced much by changes in the price of goods. But, poor people are highly affected by increase or decrease in the price of goods. As a result, demand for lower income group is highly elastic.4. Level of price:Level of price also affects the price elasticity of demand. Costly goods like laptop, Plasma TV, etc. have highly elastic demand as their demand is very sensitive to changes in their prices. However, demand for inexpensive goods like needle, match box, etc. is inelastic as change in prices of such goods do not change their demand by a considerable amount.5. Postponement of Consumption:Commodities like biscuits, soft drinks, etc. whose demand is not urgent, have highly elastic demand as their consumption can be postponed in case of an increase in their prices. However, commodities with urgent demand like life saving drugs, have inelastic demand because of their immediate requirement. | |
| 3458. |
What is economic problem and what does it arise? |
| Answer» Economic problem is the problem of making choices between the limited resources and unlimited human wants.It arrises because of scarce resources related to their demand<br>Economic problem asserts that an economy\'s finite resources are insufficient to satisfy all human needs and wants.It arises due to: - limites means -unlimited wants-resources have alternative uses. | |
| 3459. |
Mention four merits of census merhod |
| Answer» It gives whole information. It tells each and every small unitsIt covers whole information There is less chance in mistakes<br>Census Method : Under this method, each and every unit of the universe under survey is studied. For example, if there are 32 students in the class, than the marks of all the 32 students of the class will be collected.Advantages : This method has following advantages:1. Results will be absolutely correct, accurate and reliable.2. There is less possibility of partiality in collecting the data.3. Extensive knowledge of the problem is possible.4. Only this method useful, when the units of the universe have different characteristics. | |
| 3460. |
explain the conditions of consumer\'s equilibrium in case of single commodity use |
| Answer» The point where marginal utility and the price of the commodity are equal | |
| 3461. |
Explain the feature " few firm " And it\'s implication of oligopoly market |
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| 3462. |
Under what situations there will be parallel shift in budget line? ? |
| Answer» There will be parallel shift in the budget line only fkr the two reasons 1) if the income of the consumer will increase then budget line will shift forward 2) if the income of the consumer will decrease then budget line will shift downward<br>Yes<br>When the income of consumer increase it will lead to forward shift and decrease in income lead to backward shift | |
| 3463. |
What is the definition of index number |
| Answer» It is a statistical device used for measuring changes in magnitude of related variables<br>A number showing the variation in a price or value compared with the price or value at a specified earlier time (often represented by the number 100). | |
| 3464. |
All formula used in statistics |
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| 3465. |
Producers equlibrium. With mr mc aproach |
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| 3466. |
What are the assumptions of transformation curve ? |
| Answer» resources are given. given resources are fully and efficiently utilised. technology remains constant. | |
| 3467. |
Explain the implication of product differentiation in monopolistic competition ? |
| Answer» (i) Product differentiation It is a distinct feature of monopolistic competition. A product is often differentiated by way of trademarks and brand names. The differentiated products are close substitutes of each other like Colgate and closeup toothpaste.Because of product differentiation, each firm can influence its price. So that, each firm has a partial control over price of its product.(ii) Free entry or exit of firms : Firms are free to enter the industry or leave it. However, new firms have no absolute freedom of entry into industry. Products of some firms may be legally patented. New firms cannot produce those products, e.g. no rival firm can produce or sell a patented item like Woodland shoes. | |
| 3468. |
Whai is collection of data? |
| Answer» Data collection is the process of gathering and measuring information on targeted variables in an established system, which then enables one to answer relevant questions and evaluate outcomes. | |
| 3469. |
What is the shape of ppc |
| Answer» Concave (sloping downward)<br>Concave slope<br>Convave | |
| 3470. |
What is distribution in three component of economic activity |
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| 3471. |
Draw a frequency polygon fromthe following by using histogram weight 30-34 3,35-39 5 |
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| 3472. |
Explain the effect of rise in the input prices on the supply of a good |
| Answer» Yogita Ingle can u please tell me that how u have have inserted the graph on this app??<br>In case of fall in input price, Marginal Cost will decline. Accordingly, producer will supply more of the commodity at its existing price. This implies a forward shift in supply curve or increase in supply, at same level of price. | |
| 3473. |
Explain consumer\'s equilibrium, in case of a single commodity, with the help of a utility schedule |
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| 3474. |
Do you agree that classified data is better than raw data |
| Answer» The raw data are very large and cumbersome to handle. It is too difficult to draw meaningful conclusions from them as they do not yield to statistical methods easily. On the other hand the classified data are comprehensible and concise. It is easier to draw meaningful conclusions from them.Thus, classified data is better than raw data. | |
| 3475. |
Define positive and normative economicw |
| Answer» https://keydifferences.com/difference-between-positive-and-normative-economics.html<br>Positive economics is related to the analysis which is limited to cause and effect relationship. On the other hand, normative economics aims at examining real economic events from the moral and ethical point of view. It is used to judge whether the economic events are desirable or not. While Positive economics is based on facts about the economy. Normative economics is value judgment based. Most of the people think that the statements which are commonly accepted are a fact but in reality, they are valued.<br>milk and any dairy product | |
| 3476. |
Law of variable proportions |
| Answer» Law of variable proportion states that: As the quantity of 1 factor is increased, keeping all other factors fixed, the marginal product of that factor will eventually decline. | |
| 3477. |
Name two types of arithmetic mean |
| Answer» Simple arithmetic mean Weighted arithmetic mean<br>Wheight mean | |
| 3478. |
Give one merit of graphic presentation of data. |
| Answer» It is easy for understanding | |
| 3479. |
What is eeononics |
| Answer» Economics is the study of economic issues or economic problems arising out of the fact that resources are scarce in relation to our needs or desires and the scarce resources have alternative uses . | |
| 3480. |
What is efficiemy in production |
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| 3481. |
Mention any four non institutional sources of rural credit in india |
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| 3482. |
Histogram of unequal class intervals |
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| 3483. |
Published and unpublished sources of data |
| Answer» econdary data are those which have already been collected and analyzed by someone else. There are two major sources of Secondary data. They are:a. Published Sources:\xa0The sources of published data are as below:i. Official publications of Central and local governments.For example: CBS, NRB, different Ministries, etc.ii. Official publications of semi government statistical organization. For example: Tribhuvan University, Nepal Bank Ltd., NIDC, Nepal Telecom Ltd, NEA etc.iii. Official publication of foreign government or international bodies like the UNO, World Bank, ADB, WTO, UNESCO, etc.iv. Reports and publications of Trade union, Chamber of Commerce, Commercial Banks, Co-operatives, Stock Exchange etc.v. Report submitted to economists, re-search scholars, universities and various educational and research institutions.vi. Reports of various committees and commissions appointed by government.vii. Newspaper and Periodicals.Some of them may be continuous or regular and others are periodical and irregular.b. Unpublished Sources:\xa0The statistical data needn’t always be published. There are various sources of unpublished statistical material such as the records maintained by private firms, business enterprises, scholars, research workers, etc. They may not like to release their data to any outside agency. | |
| 3484. |
An index number is used to measure change in ? |
| Answer» An index number is not an absolute measure, it measures the percentage change in a variable over time. It does so by comparing the value of a variable at present to its value at a base year. Index number gives a quantitative foundation to qualitative statements like prices are falling or rising | |
| 3485. |
How will reduction in goods and services tax on text books affect their market supply? |
| Answer» Hbkc | |
| 3486. |
Explain market equilibrium.when there is excess demand for a commodity in the market? |
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| 3487. |
Name any two parameters collected in census of india |
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| 3488. |
Draw a format of table showing data of class 11 science and commerce |
| Answer» ftvf | |
| 3489. |
Name the source of collection of secondary data |
| Answer» Main sources of the secondary data can be classified into two groups :1. Published sources :(a) Government Publications(b) Semi-government Publications(c) International Publications(d) Private Publications(e) Research Publications2. Unpublished sources : Secondary Data can be obtained from unpublished sources, because all statistical material is not always published. Studies made by research institutions, scholars etc. can be important sources of secondary data. | |
| 3490. |
Can there be variable factors in long run? |
| Answer» Long run: Long run is the period in which all the factors of production can be changed to change the output. In a long run, the output can be increased by increasing both variable factors and fixed factors of production. Firms can change fixed factors of production in the long run.\xa0Output in the long run can be changed by changing the variable and fixed factors of production. | |
| 3491. |
Last year supplementary papers |
| Answer» Pata nahi | |
| 3492. |
In which market form a firm cannot influence the price of the product |
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| 3493. |
Limitations of statistics |
| Answer» (i) Statistics does not study about individuals : Statistics are expressed in facts. It does not study individuals. For example, there are five students in a class. Statistics only tells the average marks obtained in class not how many marks are obtained by every student in the class.(ii) It does not study the qualitative aspect of problem : The most important condition of statistical study is that subject of investigation and inquiry should be capable of being qualitatively measured. For example, honesty, poverty, etc.(iii) Statistics can be misused: The result obtained can be manipulated accordingly to one’s own interest and such manipulated results can mislead the community.(iv) Statistical results lack mathematical accuracy: The results drawn from statistical analysis are normally in approximates. As the satistical analysis is based on observation of mass data, number of inaccuracies may be present and it is difficult to rectify them.(v) Uniformity and homogeneity of data : It is essential that data must have the quality of uniformity and homogeneity. Heterogeneous data are not comparable. For example, it would be meaningless to compare the heights of men with heights of trees because these figures are of heterogeneous character. | |
| 3494. |
Explain the central problem of what to produce and in what quantities |
| Answer» As there is the problem of choice, the economy has to decide which goods and services are to be produced. For example, which of the consumer goods such as wheat, rice, cloth are to be produced and which of the capital goods such asmachines and tools are to be produced.When an economy has taken a decision as to what goods or services to be produced, then it has to be about its quantity. How much of consumer goods and capital goods are to be produced. For example, if an economy decides to produce rice and wheat within a given period with limited resources then it will have to using less of machineries. | |
| 3495. |
Which pair is not correctly matched |
| Answer» Plzz provide the pair....complete ur question plzz<br>hlo friends | |
| 3496. |
Define statistics discuss its function and limitations with illustration |
| Answer» The word statistics is used both in plural as well as in singular sense. In plural sense, statistics means numeric facts which can be used to draw conclusions and in singular sense, it means the statistical methods with the help of which statistical information is used to treat and draw conclusions from them.There are following limitations of statistics :Sometimes, when data are not properly collected 1 then there is likelihood to draw wrong conclusions.Therefore, it is necessary to know the limitations of statistics.(i) Statistics does not study about individuals : Statistics are expressed in facts. It does not study individuals. For example, there are five students in a class. Statistics only tells the average marks obtained in class not how many marks are obtained by every student in the class.(ii) It does not study the qualitative aspect of problem : The most important condition of statistical study is that subject of investigation and inquiry should be capable of being qualitatively measured. For example, honesty, poverty, etc.(iii) Statistics can be misused: The result obtained can be manipulated accordingly to one’s own interest and such manipulated results can mislead the community.(iv) Statistical results lack mathematical accuracy: The results drawn from statistical analysis are normally in approximates. As the satistical analysis is based on observation of mass data, number of inaccuracies may be present and it is difficult to rectify them.(v) Uniformity and homogeneity of data : It is essential that data must have the quality of uniformity and homogeneity. Heterogeneous data are not comparable. For example, it would be meaningless to compare the heights of men with heights of trees because these figures are of heterogeneous character. | |
| 3497. |
What is economic problem? Why does it arise |
| Answer» It is the problem of choice that arise from alternative use of resources | |
| 3498. |
What is consumption goods |
| Answer» A consumption good or service is one that is used (without further transformation in production) by households, NPISHs or government units for the direct satisfaction of individual needs or wants or the collective needs of members of the community. | |
| 3499. |
Encline the law of marginal utility |
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| 3500. |
Ch-5 presentation of data : Que1: make a format of a table presenting all its part |
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