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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.
| 3701. |
Why ppc is imprtant for ecnomic activity |
| Answer» | |
| 3702. |
Explain the scope of statistics in Economics? |
| Answer» | |
| 3703. |
Please give me 2 marks 20 questions with answers from every chapter of statistics |
| Answer» U have to follow sandeep garg\'s book most of the expectet questions are contain in it | |
| 3704. |
Poverty lines separates |
| Answer» Poor and rich | |
| 3705. |
What is the impact of MANREGA on ppc if economy is facing situation of unemployment |
| Answer» What is economics | |
| 3706. |
What\'s the main difference between customers and consumer |
| Answer» The main difference between customer and consumer is that the customer is the person who buys or purchases the products or the services while the consumer is the person who uses the products or the services. | |
| 3707. |
Calculate coefficient of variation from the following data |
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| 3708. |
Why ac always zero and equal to price line |
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| 3709. |
Who is cartel |
| Answer» Thanks your answer<br>Cartel is a given price of commodity in a verify of quqlity | |
| 3710. |
Definition of consumer awareness |
| Answer» Consumer Awareness is an act of making sure the buyer or consumer is aware of the information about products, goods, services, and consumers rights. Consumer awareness is important so that buyer can take the right decision and make the right choice. Consumers have the right to information, right to choose, right to safety. | |
| 3711. |
How to make economics project work |
| Answer» On which topic you want to make project?<br>Using your hands and your brain ??? | |
| 3712. |
Project on measure of cental tendency -arithmetic mean,median and mode |
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| 3713. |
Micro economics solutions |
| Answer» | |
| 3714. |
What do you mean by short run cost |
| Answer» Short run cost are of 2 types 1. Total fixed cost (TFC) 2. Total variable cost (TVC) | |
| 3715. |
Write Three importance of statistics? |
| Answer» 1.it is use full for measuring countries population and economy | |
| 3716. |
Factor affacting demand |
| Answer» 1 price of related goods 2. Income of consumer3.taste and preferences of consumer<br>1 price of the commodity | |
| 3717. |
How about statistic |
| Answer» | |
| 3718. |
Difference between traditional theory of cost and modern theory of cost. |
| Answer» The traditional and modern theory of cost\tThe traditional theory of cost consists of short and long-run costs. The short-run is fixed for some period and consists of usually entrepreneurship and equipment. The long-run is the cost over which the factors becomes variable. \tThe short-run costs of traditional method include TC = TFC + TVC. They include the salaries of administrative staff, wear and tear of machinery, and expense of land and depreciation. The variable costs include the raw materials and costs of indirect labor.\tThe long-run costs of the traditional method said to be in the form of a planning curve, which guides in decision making and expansion of future output. It is derived from the short-run average costs.\tThe modern cost theory regards the shape of curves and appears to be in the form of U shaped. The short term curves are AFC, SMC, SAC derived form the tola fixed, and variable costs. \tLong term cost curves are L shaped and curves fall after a point and may slope down gently. | |
| 3719. |
What is Price selling &price floors? |
| Answer» Price floor implies legislated or government fixed minimum price that should be charged by the seller. The minimum price is fixed above the equilibrium price. For example, in India, minimum wage is fixed to safeguard the welfare of labourers and minimum support price is fixed to safeguard and protect the interests of the farmers by ensuring minimum returns to them. | |
| 3720. |
Q1 what is Socialist communist ? |
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| 3721. |
What is Micro &Macro Economic definition ? |
| Answer» Microeconomics studies the particular market segment of the economy . Microeconomics deals with various issues like demand, supply, factor pricing, product pricing, economic welfare, production, consumption, etc.,Macroeconomics studies the whole economy, that covers several market segments . Macroeconomics deals with various issues like national income, distribution, employment, general price level, money, etc., | |
| 3722. |
What is marginal coat and total cost |
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| 3723. |
All statistics formula? |
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| 3724. |
Where is chapter11 Theory of supply |
| Answer» | |
| 3725. |
Substitute goods |
| Answer» Substitute goods are those goods which can be used in place of ine another for sarisfaction of a particular want.Ex.: Tea and Coffee.An increase in the price of substitute leads to an increase in the demand for given commodity and vice-versa. | |
| 3726. |
Explain the effect of the change in the prices of related goods on the demand for a given good |
| Answer» (i) Change in price of substitute goods: There is positive or direct relationship between the price of substitute commodity and demand for a good. If price of substitute rises the demand for a commodity also rises and vice versa.(ii) Change in price of complementary goods: There is negative or indirect relationship between the price of complementary commodity and demand for a good. If price of complement ary good rises the demand for a commodity also falls and vice versa. | |
| 3727. |
Is it false base line and kinked line are same? |
| Answer» True or false | |
| 3728. |
Who are Consumer |
| Answer» A consumer is an economic agent who uses goods and services for the direct satisfaction of his/her wants<br>Non veg example<br>Can i give u example<br>Consumer are those person who consume anything | |
| 3729. |
consumer equilibrium with ic approach |
| Answer» | |
| 3730. |
fully explain MRT |
| Answer» MRT is the rate at which the units of one good have to be sacrificed to produce one more unit of the other good in a two goods economy. Suppose an economy produces only two goods X and Y. Further suppose that by employing these resources fully and efficiently, the economy produces 1X + 10Y. If the economy decides to produce 2X, it has to cut down production of Y by 2 units. Then 2Y is the opportunity cost of producing 1X. Then 2Y : 1X is the MRT. | |
| 3731. |
factor affecting supply |
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| 3732. |
factor affecting demand |
| Answer» The factors which affects the demand of commodity are called Determinants of Demand. The factors are:-1. Price of Goods- There is inverse relationship between price and quantity demand of a commodity. If price of good rises, then its quantity demand decreases and if the price decreases then its quantity demand will increases.2. Money Income- If the Income of a consumer increases then its quantity purchase of good also increases. If the money income decreases then the demand also decreases.3. Taste and Preferences- When a consumer prefer good X the most then its demand would automatically increases. Similarly, if the preferences is very low then its demand also decreases.4. Population- The population of a commodity is directly related to the quantity demand of a commodity i.e. if population increases, the demand also increases.5. Time period- If the time period exist favourable for a commodity then its demand would automatically increases.6. Price related to Goods-There are two types of goods exist:-(A). Substitute goods- It is a type of good which can be change other types of related goods and the want of a consumer can be satisfied by altering or replacing its related goods.(B). Complementary goods- when two or more goods are together needed to satisfy the want of a consumer then they are known as complementary goods. | |
| 3733. |
producer equilibrium with MR MCapproach with table and curve |
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| 3734. |
law of variable proportion with table and curve |
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| 3735. |
Difference between Micro & Macro Economics |
| Answer» \tBasis for DifferentiationMicroeconomicsMacroeconomics\xa0MeaningMicroeconomics studies the particular market segment of the economyMacroeconomics studies the whole economy, that covers several market segmentsDeals with?Microeconomics deals with various issues like demand, supply, factor pricing, product pricing, economic welfare, production, consumption, etc.,Macroeconomics deals with various issues like national income, distribution, employment, general price level, money, etc.,Business ApplicationApplied to internal issuesEnvironment and external issuesScopeCovers several issues like demand, supply, factor pricing, product pricing, economic welfare, production, consumption, etc.Covers several issues like distribution, national income, employment, money, general price level, etc.,SignificanceUseful in regulating the prices of a product alongside the prices of factors of production (labour, land, entrepreneur, capital, etc) within the economyPerpetuates firmness in the broad price level and solves the major issues of the economy like deflation, inflation, rising prices (reflation), unemployment and poverty as a wholeLimitationsIt is based on impractical presuppositions, i.e. In microeconomics, it is presumed that there is full employment in the community which is not at all feasibleIt has been scrutinized that Misconception of Composition’ incorporates, which sometimes fails to prove accurate because it is feasible that what is true for aggregate (comprehensive) may not be true for individuals too\t | |
| 3736. |
Why central problem arise? |
| Answer» They arise due to:-1. unlimited wants 2. Resources having alternative uses.<br>central problems arise due to unavailability /scarcity of resources<br>Due to scarity | |
| 3737. |
Difference between positive goods and normative goods |
| Answer» Normative economics focuses on the value of economic fairness, or what the economy "should be" or "ought to be." While positive economics is based on fact and cannot be approved or disapproved, normative economics is based on value judgments. | |
| 3738. |
What ismean by producer equilibrium ? When will a producer be in equilibrium in case of losses |
| Answer» Producer equilibrium refers to the state where a producer is earning maximum possible profit by producing a particular level of output. This state is referred to as \'equilibrium\' because a producer has no incentive to move away from this point, as such deviation will reduce his/her profit. | |
| 3739. |
What is production functions |
| 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. | |
| 3740. |
Effects of PPC Curve |
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| 3741. |
HOW TO SAY AVERAGE REVENUE EQUAL TO PRICE. |
| Answer» Average Revenue(AR)= Total Revenue(TR)/ Quantity;AR= Price×Quantity/Quantity; (as TR= price×quantity) Quantity gets cut by quantityHence, AR=Price | |
| 3742. |
what is meant by economics |
| Answer» Economics is a science of human behavior concerned with allocation of scarce resources/means in such a manner that consumers can maximise their satisfaction, producers can maximise their profits and the society can maximise its social welfare<br>Economics is the study of choice and decision making in a world with limited resources<br>economics is a surrounding where people work to earn their livehood. | |
| 3743. |
Distinguish between discrete variables and continuos variable |
| Answer» Discrete Variable: A discrete variable can take only certain values.Its value changes only by finite ‘jumps’. It jumps from one values to another but does not take any intermediate value between them.For example, in number of students in class Xlth could be 1,2,4,10,11,15,20, etc.Continuous Variable : A continuous variable is the one which can take any value in a specified interval.For example, temperature recorded of patients a hospital, wages of all workers in a factory, etc. | |
| 3744. |
Karl pearson\'s coefficient of correlation 10 solutions |
| Answer» | |
| 3745. |
Destinguish between positive economics and normative economics |
| Answer» \tBasis for DifferentiationPositive EconomicsNormative EconomicsMeaningA part of economics grounded on the information and certainty is positive economics.A part of economics grounded on values, perspectives and discernment is normative economics.NatureIllustrativeDictatorialOutlookObjectiveSubjectiveDeals with?What actually is?What has to be?Testing (Trial)Statements can be testedStatements cannot be testedEconomic problemsEvidently elucidates the economic concerns and issues.Provides a solution for the economic concerns, based on the value\t | |
| 3746. |
What are the impact of excess supply??? |
| Answer» Equilibrium price refers to the price at which market demand is equal to market supply, which means where there is no excess demand or excess supply.When price will rise above the equilibrium price, demand will be less than supply i.e. there will be excess supply in the market.Excess supply of a good creates competition among the sellers of the good, because the sellers will not be able to sell all they want to sell at the existing price. This leads to fall in price of the good.With fall in price of goods there will be rise in demand. The change will continue till demand for the good equals to its supply and the market is in equilibrium again. Thus, equilibrium price will be restored through the free play of market forces. | |
| 3747. |
Explain the factors that affect excess supply.... |
| Answer» Factor that affect axis of supply are increase in supply that is right to worship and decrease in supply that is left shift | |
| 3748. |
Micro Economic chapter 6 cost notes |
| Answer» | |
| 3749. |
What are yhe properties of ppc |
| Answer» \tSlopes downwards to the right: PPC slopes downwards from left to right. It is because in a situation of fuller utilisation of the given resources, production of both the goods cannot be increased simultaneously. More of commodity A can be produced only with less production of commodity B.\tConcave to the point of origin: It is because to produce each additional unit of commodity A, more and more units of commodity B will have to be sacrificed. Opportunity cost of producing every additional unit of commodity A tends to increase in terms of the loss of production of commodity B. Production will act upon the law of increasing marginal opportunity cost.<br>Slope downward,,,and concave to the origin<br>Dhek bha | |
| 3750. |
How we find out the missing frequency of mean and median |
| Answer» Mean / Median has to be given, so just put the normal formula with unknown value and solve it .<br>For this their is particular formula | |