InterviewSolution
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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.
| 351. |
uses of CPI and WPI? |
| Answer» | |
| 352. |
Ppc and it\'s feature |
| Answer» PPC is a graphical presentation of measuring two goods in a country which offers equal level of satisfaction. | |
| 353. |
What is economics?Explain why ppc slope downwards? |
| Answer» Economics is the study of human behaviourBecause to produce more quantity of one commodity to satisfy some quantity of another commodity. | |
| 354. |
Rank correlation |
| Answer» an assessment of the degree of correlation between two ways of assigning ranks to the members of a set. | |
| 355. |
Feature and characteristics of stat in plural sense |
| Answer» 1.Aggregate of facts 2.Numerically expressed 3.Affected by multiplicity of causes 4.Reasonable accuracy 5.placed in relation to each other 6.pre determined purpose 7.enumerated or estimated 8. Collected in a systematic manner | |
| 356. |
Calculate Q1 and Q3 feom tha following table |
| Answer» Where is the table?? | |
| 357. |
What is scatter diagram? Explain it with example. |
| Answer» Scatter Diagrams are convenient mathematical tools to study the correlation between two random variables.\xa0The Scatter Diagrams between two random variables feature the variables as their x and y-axes. We can take any variable as the independent variable in such a case (the other variable being the dependent one), and correspondingly plot every data point on the graph (xi,yi\xa0). The totality of all the plotted points forms the scatter diagram.Based on the different shapes the scatter plot may assume, we can draw different inferences. We can calculate a\xa0coefficient of correlation\xa0for the given data. It is a quantitative measure of the association of the random variables. Its value is always less than 1, and it may be positive or negative.In the case of a positive correlation, the plotted points are distributed from lower left corner to upper right corner (in the general pattern of being evenly spread about a straight line with a positive slope), and in the case of a negative correlation, the plotted points are spread out about a straight line of a negative slope) from upper left to lower right.If the points are randomly distributed in space, or almost equally distributed at every location without depicting any particular pattern, it is the case of a very small correlation, tending to 0.Draw the scatter diagram for the given pair of variables and understand the type of correlation between them.\tNo. of StudentsMarks obtained (out of 100)\xa0\xa01240-501050-60860-70770-80580-90290-100\tSolution:Here, we take the two variables for consideration as:M: The marks obtained out of 100S: Number of studentsSince the values of M is in the form of bins, we can use the centre point of each class in the scatter diagram instead. So let us first choose the axes of our diagram.X-axis – Marks obtained out of 100Y-axis – Number of StudentsThe data points that we need to plot according to the given dataset are –(45,12), (55,10), (65,8), (75,7), (85,5), (95,2)Here’s how the plot will look like –From the shape of the curve, clearly, only a fewer number of students get high marks. This implies a negative correlation between the two variables. | |
| 358. |
Define economic problems |
| Answer» Economic problem is a problem related to the allocation of resources (or problem of choice) arising due to limited means in relation to unlimited wants. | |
| 359. |
What is IQD |
| Answer» The Dinar, although inflation has rendered the fils obsolete since 1990. | |
| 360. |
what is quartile deviation |
| Answer» Quartile deviation is the half of inter Quartile range. It is also called semi inter Quartile range. Quartile deviation =Q3-Q1/2 | |
| 361. |
What is range |
| Answer» Range is the difference of upper quartile and lower quartile<br>range is that measures of dispersion | |
| 362. |
Positive and normative economic |
| Answer» positive economics study the present situation of the study of economy i.e. what is and whereas normative economics studies the future situation i.e.what ought to be. | |
| 363. |
Histogram using graphical method |
| Answer» | |
| 364. |
What is law of variable proportion? Relationship between TC or MC ? |
| Answer» Sorry, i can\'t help u with the 2nd question ?☺️<br>Law of variable proportion :According to the law:" in short period, keeping all the factors fixed and only one factor variable. Initially TP increases in increasing rate, TP increases at diminishing rate goes to maximum and then TP declines. MP rises, MP starts to fall but positive and goes to zero, then MP becomes negative. | |
| 365. |
MR and MC approach |
| Answer» A producer is a person who maximises his profit and minimises his loss.The producer\'s equilibrium struks at a point, where two conditions are satisfied. (i) MC=MRMC is rising below MR. | |
| 366. |
Diagram of table and its labels |
| Answer» | |
| 367. |
What is price floor |
| Answer» Price Floor: It means the minimum price fixed by the government for a commodity in the market. It seems paradoxical.(i) Each firm employs labour up to the point where the marginal revenue product of labour equals the wage rate.(ii) With supply curve remaining unchanged when demand curve shifts rightward (leftward). the equilibrium quantity increases (decreases) and equilibrium price increases with fixed number of firms.(iii) With demand curve remaining unchanged when supply curve shifts rightward (leftward), the equilibrium quantity increases (decreases) and equilibrium price decrease (increases) with fixed number of firm. | |
| 368. |
Find quartile deviation ...82,100,110,116,150,150,170,250 |
| Answer» Q1 = 2.5, Q3=7.5 ans = 2.5?<br>250 _82=168%2=84 ans | |
| 369. |
What is quartile deviation ? |
| Answer» | |
| 370. |
What does production possibility curve show can it shif?when |
| Answer» | |
| 371. |
Weightage of chapters od statistics and microeconomics |
| Answer» | |
| 372. |
how to calculate standard deviation in shortcut method |
| Answer» | |
| 373. |
What is the difference between change in supply and change in demand ? |
| Answer» \tChange in demand means change in demand due to the factors of demand other than price whereas Change in quantity demanded means change in the quantity purchased due to change in the price of a product .\tChange in demand has no price effect whereas Change in quantity has price effect.\tChange in demand implies a change in demand curve whereas Change in quantity does not change the demand curve.\tChange in demand will result in the shift in the demand curve whereas Change in quantity will result in movement of demand curve. | |
| 374. |
What is the alternate name of price of commodity? |
| Answer» Average Revenue (AR) | |
| 375. |
How does TR change with output when MR is zero? |
| Answer» TR is highest when MR is zero and after that TR start decreasing and MR becomes negative | |
| 376. |
How find N in standrd daviation |
| Answer» £f =N | |
| 377. |
Characterstics of indifference curve |
| Answer» * it does not touch x axis and y axis* it does not intersects each other* ic slopes downwards due to monotonic preferences* ic is concave to the point of origin | |
| 378. |
what is the relationship between MC and AC |
| Answer» | |
| 379. |
Relation between TPandMP |
| Answer» Relationship between MP and TP is stated below:(i) When MP increases, TP increases at an increasing rate.(ii) When MP decreases, TP increases at a diminishing rate.(iii) When MP = 0, TP is maximum.(iv) When MP is negative, TP declines. | |
| 380. |
Define Law of Variable proportionate. |
| Answer» | |
| 381. |
Define lorenz curve |
| Answer» It is a curve that shows deviation of actual distribution from the line showing equal distribution. | |
| 382. |
Explain the consumer\'s equilibrium through ordinal utility analysis |
| Answer» | |
| 383. |
What is consumer equilibrium in case of single commodity.... Explain with table and diagram |
| Answer» | |
| 384. |
What is difference between table and tabulation |
| Answer» Table presents the data systematically, especially in rows and columns. On the other hand, tabulation can be defined as the process of placing classified data into tabular form. | |
| 385. |
Explain the market equilibrium when income of consumer in case of normal good |
| Answer» | |
| 386. |
What are the factora affecting supply of a commodity |
| Answer» 1- goal of the firm2- price of the commodity 3- price of related goods4- price of factors of production 5- no. of firms6- technology 7- govt. policy 8- future expectation | |
| 387. |
Hey guys .. is ur annual exams are over ... ?? |
| Answer» Still going ☹<br>On 14 March<br>Tomorrow is economics one . | |
| 388. |
Compare the market forms of monopolistic competiton and monopoly |
| Answer» | |
| 389. |
Implications of non price competition in oligopoly |
| Answer» | |
| 390. |
Oppurtunity cost |
| Answer» Next best alternative forgone<br>Next best cost for the work or commodity. | |
| 391. |
What is meant by inferential statistics?In which book it is given? |
| Answer» | |
| 392. |
What are the kind of error that you envisage in the process of collection of data? |
| Answer» | |
| 393. |
Central problem of economy with digram |
| Answer» Economic growth enables the economy to have more of both the goods. Conclusion: All these central problems of an economy are interrelated and interdependent. They arise from the fundamental economic problems of scarcity of means and multiplicity of ends which lead to the problem of choice or economizing of resources. | |
| 394. |
Important chapters in statistics for class 11? |
| Answer» | |
| 395. |
Waht questions can come in exame |
| Answer» | |
| 396. |
Ppc is downward sloping |
| Answer» Because increased the production of one good and less resource available for other good | |
| 397. |
What is median how to solve it |
| Answer» | |
| 398. |
What is FAD theory? |
| Answer» the assumption that total food-availability decline (FAD) is the central cause of all famines. Sen argued that the more proximate cause is so-called “entitlement failure,” which can occur even when there is no decline in aggregate food production. | |
| 399. |
what is the point of saturation and point of saticity ? |
| Answer» The point in which the consumer is in his maximum satisfaction and consumption of one more unit will lead to marginal unity is known as point of satisfaction of that commodity . | |
| 400. |
What is iso quant curve |
| Answer» An isoquant is a firm\'s counterpart of the consumer\'s indifference curve. An isoquant is a curve that shows all the combinations of inputs that yield the same level of output. \'Iso\' means equal and \'quant\' means quantity. Therefore, an isoquant represents a constant quantity of output. | |