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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.
| 4001. |
Sandeep Garg microeconomics and tr jain and vk ohri statistics ke notes kis site par milenge |
| Answer» | |
| 4002. |
Will there be more changes in our syllabus this year...?? |
| Answer» No<br>Don\'t know yrr<br>No | |
| 4003. |
Individual supply schedule |
| Answer» Individual supply schedule\xa0refers to a tabular statement showing various quantities of a commodity that a producer is willing to sell at various levels of price, during a given period of time. The\xa0supply curve\xa0plots the quantity that is willingly supplied at any given price. The\xa0individual supply curves\xa0can be summed by quantity provided at a specific price to achieve an aggregate\xa0supply curve. The\xa0supply curve\xa0is upward sloping in the short run. | |
| 4004. |
1.How will you choose the wants to be satisfied? |
| Answer» Our wants are unlimited but the resources used in the production of goods that satisfy our wants are limited and scarce. So we have to choose those wants that we want the most. For example, if in an economy there are two commodities; Butter and Shirt; then we have to choose which commodity we should purchase because of limited resources and scarcity. | |
| 4005. |
What is meant by the term utility...??? |
| Answer» Utility is the term in Economics that refers to the total satisfaction received from consuming a good or service economic.<br>Utility<br>The total satisfaction gained by a good by consuming it.<br>Utility is a term in economics that refers to the total satisfaction received from consuming a good or service. Economic theories based on rational choice usually assume that consumers will strive to maximize their utility. The economic utility of a good or service is important to understand, because it directly influences the demand, and therefore price, of that good or service. In practice, a consumer\'s utility is impossible to measure and quantify. However, some economists believe that they can indirectly estimate what is the utility for an economic good or service by employing various models. | |
| 4006. |
What does a rightward shift of PPC indicate |
| Answer» Rightward shift\xa0in\xa0PPC indicates\xa0either advancement of technology or increase in the availability of the resources. increase in resources or improvement in technology.<br>If resources are increased, we can produce more of both the goods.Then PPC shifts to the Right side /rightward. | |
| 4007. |
1. You have unlimited wants and limited resources to satisfy them. Explain by giving two examples. |
| Answer» We have unlimited wants and limited resources. For example, If we have more pocket money to spend then we can get all the things according to our wish but if we have less pocket money then we have to choose only those things that we want the most. For example, there are two goods in the economy; wheat and shoes. Then we have to choose the good that we want the most because of limited resources and unlimited wants. Scarcity is the root of all economic problems. | |
| 4008. |
Difference between discrete and continuous variable |
| Answer» All probability distributions can be classified as discrete probability distributions or as continuous probability distributions, depending on whether they define probabilities associated with discrete variables or continuous variables.Discrete vs. Continuous VariablesIf a variable can take on any value between two specified values, it is called a continuous variable; otherwise, it is called a discrete variable.Some examples will clarify the difference between discrete and continuous variables.Suppose the fire department mandates that all fire fighters must weigh between 150 and 250 pounds. The weight of a fire fighter would be an example of a continuous variable; since a fire fighter\'s weight could take on any value between 150 and 250 pounds.Suppose we flip a coin and count the number of heads. The number of heads could be any integer value between 0 and plus infinity. However, it could not be any number between 0 and plus infinity. We could not, for example, get 2.5 heads. Therefore, the number of heads must be a discrete variable. | |
| 4009. |
Define stock |
| Answer» A stock is a general term used to describe the ownership certificates of any company. A share, on the other hand, refers to the stock certificate of a particular company. Holding a particular company\'s share makes you a shareholder.<br>I was asking stock meaning in economics not in accounts<br>Stock means goods<br>In\xa0accounting,\xa0there are two common uses of the term\xa0stock. One meaning of stock refers to the goods on hand which is to be sold to customers. In that situation, stock means\xa0inventory.The term\xa0stock\xa0is also used to mean the ownership shares of a corporation. For example, an owner of a corporation will have a stock certificate which provides evidence of his or her ownership of a corporation\'s\xa0common stock\xa0or\xa0preferred stock. The owner of the corporation\'s common or preferred stock is known as a stockholder. | |
| 4010. |
In Economics what is referred as means and end ? |
| Answer» | |
| 4011. |
At the point of satiety the total utility will be |
| Answer» At the point of satiety the total utility will be maximum | |
| 4012. |
Which is the family of indifference curves ? |
| Answer» An indifference curve is a graph showing combination of two goods that give the consumer equal satisfaction and utility. Each point on an indifference curve indicates that a consumer is indifferent between the two and all points give him the same utility. | |
| 4013. |
PPC (Production possibility curve) is in our syllabus |
| Answer» No<br>Ok,thanks<br>It is removed from our syllabus<br>No<br>?? | |
| 4014. |
First step of presentation of data is |
| Answer» | |
| 4015. |
In what type of paper picture are drawn |
| Answer» | |
| 4016. |
Distinguish between positive and normative economic s |
| Answer» \tParametersPositive 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 | |
| 4017. |
Is ppc is in the syllabus |
| Answer» No<br>No Ankit it\'s out of our syllabus..<br>Yes<br>No,it\'s not in our syllabus... | |
| 4018. |
What is meant by ordinal measurement of utility |
| Answer» Define economy<br>Ordinal measurement of utility refers to the measurement (or expression) of utility in terms ranks like high or low (more or less). Ordinality means that utility can be ranked based on consumer preferences.Ordinal utility theory states that utility cannot be measured, it can only be ranked or ordered according to the preference of the consumer. Ordinality means that utility can be ranked. | |
| 4019. |
Essential practicals of economics of ch10 |
| Answer» No practicals are needed in class 10th for eco | |
| 4020. |
2 3 4 notes |
| Answer» Isi app me dekho na.. Sare chapters k notes mil jayenge..<br>Ch2 notes | |
| 4021. |
State one example of positive and normative economics.. |
| Answer» Positive- In India many people are still poor.Normative- India should take steps to reduce poverty.<br>Positive Economics is a part of economics that contemplates the explanation and elucidation of economic occurrence. It concentrates on certainty and cause-and-effect behavioural association and incorporates the development and trial of economics thesis.Normative Economics is an outlook on economics that contemplates normative or ideologically dictatorial, discernment toward economic enhancement, statements, investment projects and framework. Disparate to positive economics, which depends on intentional data analysis, normative economics decisively solicitude itself with value discernment and statements of “what has to be” rather than certitude based on cause-and-effect declarations. Normative economics manifests ideological judgement about what may be the outcome in an economic pursuit if public policy changes are made. | |
| 4022. |
Formula for finding mid value is given by..... |
| Answer» What happened to you??<br>????<br>No,this question is of economics. | |
| 4023. |
Growth and modernisation are complementary to each other. Substantiate. |
| Answer» | |
| 4024. |
Describe in brief three main characteristics of statistics |
| Answer» The important characteristics of Statistics are as follows:\tStatistics are numerically expressed.\tIt has an aggregate of facts\tData are collected in systematic order\tIt should be comparable to each other\tData are collected for a planned purpose | |
| 4025. |
Distinguiah between quantitative & qualitative data & give some example of both? |
| Answer» Quantitative Data : We havequantitative data, if the variables can be measured in numerical terms. For example, daily temperature, height and weight of individuals, price and income, etc. are quantitative variables. Their values can be expressed numerically.Qualitative Data : Sometimes, it is not possible to measure variables numerically, in the same straight forward manner as heights and weights of individuals, or prices of\xa0commodities, or income of individuals. For example, attitudes of people to a political system, intelligence of individuals and their aptitudes towards music and art, beauty of individuals or some objects (like flowers, gardens etc.) cannot be numerically measured. However, we may rank them according to the quality of their attributes. | |
| 4026. |
Best topics for economics project |
| Answer» U can go for Presentation of data<br>Rights | |
| 4027. |
name the aggritates variables of micro and macro economics |
| Answer» Variables of micro are demand, supply, price Variables of macro are aggregate demand ,aggregate supply . | |
| 4028. |
You have unlimited wants and limited resources to satisfy them explain by giving an example. |
| Answer» We have unlimited wants and limited resources. For example, If we have more pocket money to spend then we can get all the things according to our wish but if we have less pocket money then we have to choose only those things that we want the most. For example, there are two goods in the economy; wheat and shoes. Then we have to choose the good that we want the most because of limited resources and unlimited wants. Scarcity is the root of all economic problems. | |
| 4029. |
What is the difference between universe and sampling |
| Answer» In statistics universe (population) refers to an aggregate of all items about which we want to obtain information. Suppose there are 1500 studetns in a particular school. If an investigation relates to all the 1500 students, then 1500 would be taken as universe or population.On the other hand, if we take out only 150 for investigation, then 150 students will be taken as sample. Sample is only the part of the population or the universe. This part must represent the characteristics of universe. | |
| 4030. |
What is data and what is the purpoose of data collection |
| Answer» Data is a tool which helps in reaching a sound conclusion by providing information therefore. For statistical investigation, collection of data is the first and foremost. | |
| 4031. |
Farmers may suffer loss eben when there is good harvest |
| Answer» Owing to their poverty (and immediate need for cash) farmers are often driven to a distressed sale of their produce. But good harvest causes a glut (of supply) in the market. This causes a price-crash. The price may fall so much that the total revenue of the farmer decreases even when his output/sale is more than before.<br>Owing to their poverty (and immediate need for cash) farmers are often driven to a distressed sale of their produce. But good harvest causes a glut (of supply) in the market. This causes a price-crash. The price may fall so much that the total revenue of the farmer decreases even when his output/sale is more than before. | |
| 4032. |
Relationship Between AP And MP |
| Answer» Here the table and the diagram below shows the following relationship between AP and MP:•\xa0AP increases as long as MP is greater than AP. Till the point p, AP is at maximum.•\xa0AP decreases when MP < AP. Beyond the point p, AP is at its top.•\xa0AP is at its maximum when AP = MP. MP curve cuts AP from above at its maximum.•\xa0MP may be zero or negative, but AP remains positive.\xa0\tUnits of Fixed FactorUnits of Variable FactorAPMP100011441210161316281417201516101614417120\xa0181-4\t | |
| 4033. |
Why TVC increases at decreasing rate at initial stages of production. |
| Answer» In the initial stages of production, a firm may be enjoying increasing returns to a factor (because of underutilisation of the fixed factor). It is a situation when MP (of the variable factor) tends to rise. Cost is just the opposite of productivity. Rising MP means falling cost. When the cost of producing an additional unit is falling, TVC should be increasing only at the decreasing rate.<br>In the initial stages of production, a firm may be enjoying increasing returns to a factor (because of underutilisation of the fixed factor). It is a situation when MP (of the variable factor) tends to rise. Cost is just the opposite of productivity. Rising MP means falling cost. When the cost of producing an additional unit is falling, TVC should be increasing only at the decreasing rate. | |
| 4034. |
Q.12 Why is firm’s demand curve the same as AR curve of the firm?? |
| Answer» a) When AR is decreasing, MR should be decreasing faster than AR. Thus, downward sloping MR curve is below the downward sloping AR curve(a situation of monopoly and monopolistic competition)b) If AR is constant, MR is equal to AR. Both are indicated by the same horizontal straight line(a situation of perfect competition) | |
| 4035. |
Define decrease in demand .what causes decrease in demand? |
| Answer» Whereas the contraction in demand implies the fall in quantity demanded as a result of rise in price, decrease in demand means the whole demand curve shifts to a lower position. In other words, decrease in demand means that at various prices, less is demanded than before. The decrease in demand does not occur due to the rise in price but due to the changes in other determinants of demand. | |
| 4036. |
Discuss the concept of movement along the demand curve? |
| Answer» hii<br>Thank you<br>Keeping all other factors the same, when there is a change in demand of a commodity due to change in price, it is referred to as the change in quantity demanded. It is shown as a movement along the demand curve when expressed graphically. | |
| 4037. |
Scarcity is mother of all economic problems |
| Answer» Yes, the statement "Scarcity is the mother of all economic problems." Scarcity is caused by :Limited Resources, Unlimited Wants and alternate uses of resources.Scarcity causes the problem of choice. Choice causes economic problems of decision making. And decision making relates to usage of limited Resources in a manner that a consumer maximises his satisfaction, producer maximises his profit, and society maximises it\'s social welfare.Problem of Choice also seen in the methods of production, things to be produced, for whom things are produced. All the economies (mixed, centrally planned, free) face problems due to Scarcity.Scarcity then relates to the study of demand, price, supply theory, etc.<br>It is true that the scarcity is the root of all economic problems. If there had been no scarcity there would have been no economic problem. This would have not necessitated the study of economics.In our daily life, we face various forms of scarcity. The queues at the railway booking counters, over crowded buses, heavy traffic on roads, the rush to get a ticket to watch a movie of a popular film actor or actress, are all the manifestations of scarcity. We face scarcity because the things that satisfy our wants are limited in availability.Further, the resources which the producers have are limited and also have alternative uses. For instance, take the case of food that we eat everyday. It satisfies our want of nourishment.\xa0Farmers employed in agriculture grow crops that produce our food. At any point of time, the resources in agriculture like land, labour, water, chemical fertilizers, etc, all these resources have alternative uses.The same resources can be used in the production of non-food crops. Thus, alternative uses of resources give rise to the problem of choice between different commodities that can be produced by those resources. | |
| 4038. |
We can get National Income by. |
| Answer» | |
| 4039. |
Absence of scarcity would mean absence of economics .Explain with logical reasoning |
| Answer» Yes,economics in a very basic sense is optimization given the constraints. Scarcity is the biggest and real constraint of our lives.Lets understand with an example,suppose everybody has a lot of money,a lot to buy anything.What would the world look like?Nobody\'s going to work,no production,no costs,no profits,no exchange rates,no trade,simply there would be no need of any of the economic agents,economic concepts.So,no economics would exist. | |
| 4040. |
Give me a textbook questions |
| Answer» | |
| 4041. |
What are the factors affecting price elasticity of demand |
| Answer» Factors Affecting Price Elasticity of Demand\xa01. Availability of substitutesp—A commodity with more and close substitutes tends to have an elastic demand and one with a few weak substitutes has an inelastic demand.For example:\xa0If price of Pepsi falls, a large number of consumers will switch over the Pepsi from Coke. On the other hand when the price of milk increases, the quantity demanded will not decrease much and vice versa.\xa02. Proportion of Income Spent—Smaller is the proportion of Income spent on a commodity, the smaller will be the elasticity of demand and vice-versa.\xa0For example:\xa0The demand for soap, salt, matches, etc. is highly inelastic since the consumer spends a very small proportion of his income on them.\xa03. Habits of the consumer—Price elasticity of demand depends also upon whether or not the consumers are habitual of using a commodity. If consumers are habitual of consuming some commodities, they will continue to consume these even at higher prices. The demand for such commodities will be usually inelastic.\xa04. Time Factor—Price Elasticity is generally low for the short period as compared to long period. This is for 2 reasons—\xa0Firstly—It takes time for consumers to adjust their tastes, preferences and habits. Secondly, new substitutes may be developed in the long run.\xa0 | |
| 4042. |
What is the relationship between AP and MP |
| Answer» The ap increase when mp is greater than ap<br>In the diagram:(i) The AP increases when MP is greater than AP.(ii) The AP is at its maximum when both MP and AP are equal. This is shown at point E.(iii) The AP decreases when MP ip less than AP.(iv) MP can be positive, zero or negative, but AP is always positive.\xa0 | |
| 4043. |
Give one reason for leftward shift in demand curve |
| Answer» Increase in income of consumer. | |
| 4044. |
Excess of reciepts from sale of goods over expenditure incovered on producing them is termed as |
| Answer» | |
| 4045. |
Effects of government policies on ppc project |
| Answer» | |
| 4046. |
What is type of Indian economy |
| Answer» It is not in syllabus it in 12<br>Mixed economy | |
| 4047. |
Kisi k pass chapter wise weightage h economics ka |
| Answer» Yes | |
| 4048. |
Anyone have chapter wise weight age of questions please tell me |
| Answer» | |
| 4049. |
How many cups of coffee will a consumer drink if cup of coffee is free of cost? |
| Answer» He will continue to consume more and more cups of coffee until he reaches the point of satiety or the point of maximum satisfaction.<br>intresting question but its depend on consumer | |
| 4050. |
Calculate standard deviation of the following series size 0-5 frequency 2 |
| Answer» | |