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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.
| 4301. |
Define budget line, budget set, attainable and non-attainable combinations using suitable schedule and diagram |
| Answer» | |
| 4302. |
Define partial correlation . |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :When more than two <a href="https://interviewquestions.tuteehub.com/tag/variables-11302" style="font-weight:bold;" target="_blank" title="Click to know more about VARIABLES">VARIABLES</a> are involved and out of these the relationship between only two variables is studied treating other variables as constant, then the correlation is <a href="https://interviewquestions.tuteehub.com/tag/partial-596556" style="font-weight:bold;" target="_blank" title="Click to know more about PARTIAL">PARTIAL</a>.</body></html> | |
| 4303. |
Production poddibility frontier is concave shaped as production of one good can be increased only by reducing quantity of another good. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/production-14556" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCTION">PRODUCTION</a> possibility frontier is concave <a href="https://interviewquestions.tuteehub.com/tag/shaped-3023915" style="font-weight:bold;" target="_blank" title="Click to know more about SHAPED">SHAPED</a> <a href="https://interviewquestions.tuteehub.com/tag/due-433472" style="font-weight:bold;" target="_blank" title="Click to know more about DUE">DUE</a> to increasing marginal <a href="https://interviewquestions.tuteehub.com/tag/opportunity-1137192" style="font-weight:bold;" target="_blank" title="Click to know more about OPPORTUNITY">OPPORTUNITY</a> cost.</body></html> | |
| 4304. |
A firm is operating with a Total Variable cost of Rs 500 when 5 units of the given output are produced and the Total Fixed Costs are Rs 200, what will be the Average Total Cost of producing 5 units of output ? (i) Rs 140 (ii) Rs 100 (iii) Rs 120 (iv) Rs 300 |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/rs-625947" style="font-weight:bold;" target="_blank" title="Click to know more about RS">RS</a> <a href="https://interviewquestions.tuteehub.com/tag/140-273392" style="font-weight:bold;" target="_blank" title="Click to know more about 140">140</a></body></html> | |
| 4305. |
Consumer get maxiumum variety of good under: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/perfectly-7309466" style="font-weight:bold;" target="_blank" title="Click to know more about PERFECTLY">PERFECTLY</a> <a href="https://interviewquestions.tuteehub.com/tag/competition-423521" style="font-weight:bold;" target="_blank" title="Click to know more about COMPETITION">COMPETITION</a> <br/><a href="https://interviewquestions.tuteehub.com/tag/monopolistic-2180801" style="font-weight:bold;" target="_blank" title="Click to know more about MONOPOLISTIC">MONOPOLISTIC</a> Competition<br/>Monopoly<br/>Pure Competition</p>Solution :N/a</body></html> | |
| 4306. |
When MP is more than AP |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/ap-380277" style="font-weight:bold;" target="_blank" title="Click to know more about AP">AP</a> rises<br/>AP <a href="https://interviewquestions.tuteehub.com/tag/falls-983294" style="font-weight:bold;" target="_blank" title="Click to know more about FALLS">FALLS</a> <br/>AP <a href="https://interviewquestions.tuteehub.com/tag/remains-621920" style="font-weight:bold;" target="_blank" title="Click to know more about REMAINS">REMAINS</a> constant<br/>none of these</p>Answer :A</body></html> | |
| 4307. |
When the prevailing market price is different from the equilibrium price, is immediately results in : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/excess-978535" style="font-weight:bold;" target="_blank" title="Click to know more about EXCESS">EXCESS</a> demand<br/>Excess supply<br/>Either (a) or (<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a>)<br/><a href="https://interviewquestions.tuteehub.com/tag/neither-1113494" style="font-weight:bold;" target="_blank" title="Click to know more about NEITHER">NEITHER</a> (a) and (b)</p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 4308. |
Define budget set. |
| Answer» <html><body><p></p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/budget-25496" style="font-weight:bold;" target="_blank" title="Click to know more about BUDGET">BUDGET</a> set is the set of all possible combinations of the <a href="https://interviewquestions.tuteehub.com/tag/two-714195" style="font-weight:bold;" target="_blank" title="Click to know more about TWO">TWO</a> goods which a <a href="https://interviewquestions.tuteehub.com/tag/consumer-25599" style="font-weight:bold;" target="_blank" title="Click to know more about CONSUMER">CONSUMER</a> can <a href="https://interviewquestions.tuteehub.com/tag/afford-368588" style="font-weight:bold;" target="_blank" title="Click to know more about AFFORD">AFFORD</a>, given his income and prices in the market.</body></html> | |
| 4309. |
In case of inefficient utilisation of resources: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/ppc-25541" style="font-weight:bold;" target="_blank" title="Click to know more about PPC">PPC</a> <a href="https://interviewquestions.tuteehub.com/tag/shifts-1205400" style="font-weight:bold;" target="_blank" title="Click to know more about SHIFTS">SHIFTS</a> to its left<br/>PPC shifts to its right<br/>economy operates <a href="https://interviewquestions.tuteehub.com/tag/inside-1045864" style="font-weight:bold;" target="_blank" title="Click to know more about INSIDE">INSIDE</a> PPC<br/>None of the above</p>Solution :In case of inefficient <a href="https://interviewquestions.tuteehub.com/tag/utilisation-722282" style="font-weight:bold;" target="_blank" title="Click to know more about UTILISATION">UTILISATION</a> of resources:economy operates inside PPC</body></html> | |
| 4310. |
Define viable industry. |
| Answer» <html><body><p></p>Solution :It refers to an <a href="https://interviewquestions.tuteehub.com/tag/industry-1043031" style="font-weight:bold;" target="_blank" title="Click to know more about INDUSTRY">INDUSTRY</a> in which the <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> curve and <a href="https://interviewquestions.tuteehub.com/tag/supply-1235254" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPLY">SUPPLY</a> curve intersect each other in the <a href="https://interviewquestions.tuteehub.com/tag/positive-1159908" style="font-weight:bold;" target="_blank" title="Click to know more about POSITIVE">POSITIVE</a> <a href="https://interviewquestions.tuteehub.com/tag/axis-889931" style="font-weight:bold;" target="_blank" title="Click to know more about AXIS">AXIS</a> i.e., at positive quantity.</body></html> | |
| 4311. |
A simultaneous increase in demand and supply for a given commodity will result in more of the commodity being purchased. |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :As both <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> and supply <a href="https://interviewquestions.tuteehub.com/tag/increase-1040383" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASE">INCREASE</a>, the <a href="https://interviewquestions.tuteehub.com/tag/commodity-923558" style="font-weight:bold;" target="_blank" title="Click to know more about COMMODITY">COMMODITY</a> being purchased (i.e. equilibrium <a href="https://interviewquestions.tuteehub.com/tag/quantity-1174212" style="font-weight:bold;" target="_blank" title="Click to know more about QUANTITY">QUANTITY</a>) will rise.</body></html> | |
| 4312. |
The part of economics which deals with the question of what, how and for whom to produce is known as macroeconomics. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/microeconomics-560080" style="font-weight:bold;" target="_blank" title="Click to know more about MICROECONOMICS">MICROECONOMICS</a> <a href="https://interviewquestions.tuteehub.com/tag/deals-945317" style="font-weight:bold;" target="_blank" title="Click to know more about DEALS">DEALS</a> with the <a href="https://interviewquestions.tuteehub.com/tag/question-25051" style="font-weight:bold;" target="_blank" title="Click to know more about QUESTION">QUESTION</a> of what, how and for whom to <a href="https://interviewquestions.tuteehub.com/tag/produce-1167752" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCE">PRODUCE</a>.</body></html> | |
| 4313. |
In plural sense, which of the following is not a characteristic of Statistics ? |
| Answer» <html><body><p>Aggregate of data<br/>Only expressed in words<br/>Affected by <a href="https://interviewquestions.tuteehub.com/tag/multiplicity-567062" style="font-weight:bold;" target="_blank" title="Click to know more about MULTIPLICITY">MULTIPLICITY</a> of causes<br/>Collected in a systematic manner</p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a></body></html> | |
| 4314. |
Coefficient of range is: |
| Answer» <html><body><p>`((H+L)/(H-L))xx2`<br/>`(H+L)/(<a href="https://interviewquestions.tuteehub.com/tag/2-283658" style="font-weight:bold;" target="_blank" title="Click to know more about 2">2</a>)`<br/>`(H+L)/(H-L)`<br/>`(H-L)/(H+L)`</p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :D</body></html> | |
| 4315. |
What is meant by revenue in microeconomics ? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Revenue is the <a href="https://interviewquestions.tuteehub.com/tag/money-25502" style="font-weight:bold;" target="_blank" title="Click to know more about MONEY">MONEY</a> receipts received by a firm from the <a href="https://interviewquestions.tuteehub.com/tag/sale-1193496" style="font-weight:bold;" target="_blank" title="Click to know more about SALE">SALE</a> of its <a href="https://interviewquestions.tuteehub.com/tag/product-25523" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCT">PRODUCT</a>.</body></html> | |
| 4316. |
What is Marginal Rate of Transformation ? Explain with help of an example. |
| Answer» <html><body><p></p>Solution :MRT is the <a href="https://interviewquestions.tuteehub.com/tag/rate-1177476" style="font-weight:bold;" target="_blank" title="Click to know more about RATE">RATE</a> at which the unis of one good have to be sacrificed to produce one more <a href="https://interviewquestions.tuteehub.com/tag/unit-1438166" style="font-weight:bold;" target="_blank" title="Click to know more about UNIT">UNIT</a> of the other good in a twe good in a two goods <a href="https://interviewquestions.tuteehub.com/tag/economy-21801" style="font-weight:bold;" target="_blank" title="Click to know more about ECONOMY">ECONOMY</a>. <br/> Suppose an economy produces only two goods X and Y. Further suppose that by <a href="https://interviewquestions.tuteehub.com/tag/employing-970701" style="font-weight:bold;" target="_blank" title="Click to know more about EMPLOYING">EMPLOYING</a> these resources fully and efficiently, the economy 1X + 10Y. If the economy decides to produce 2X it has to cut down production of Y by 2 <a href="https://interviewquestions.tuteehub.com/tag/units-1438468" style="font-weight:bold;" target="_blank" title="Click to know more about UNITS">UNITS</a>. Then 2T is the oportunity 1X. Then 2Y:1X is the MRT.</body></html> | |
| 4317. |
Explain the basic problem of distribution of income. |
| Answer» <html><body><p></p>Solution :This problem is concerned with the distribution of income in an economy. It is concerned with either to <a href="https://interviewquestions.tuteehub.com/tag/produce-1167752" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCE">PRODUCE</a> goods for high-income groups or low- income groups. The <a href="https://interviewquestions.tuteehub.com/tag/capacity-908575" style="font-weight:bold;" target="_blank" title="Click to know more about CAPACITY">CAPACITY</a> of people to pay for goods depends upon their level of income. Thus, this problem is concerned with the distribution of income among factors of production who <a href="https://interviewquestions.tuteehub.com/tag/contribute-409828" style="font-weight:bold;" target="_blank" title="Click to know more about CONTRIBUTE">CONTRIBUTE</a> in the production process. It has two aspects :(i) Personal distribution: It means how the national income of an economy is distributed among different groups of people in the society.(ii) Factoral distribution: It relates to income share of different factors of production such as wages for labour, <a href="https://interviewquestions.tuteehub.com/tag/interest-13407" style="font-weight:bold;" target="_blank" title="Click to know more about INTEREST">INTEREST</a> for capital, <a href="https://interviewquestions.tuteehub.com/tag/rent-1184968" style="font-weight:bold;" target="_blank" title="Click to know more about RENT">RENT</a> for land etc</body></html> | |
| 4318. |
What do you mean by a normal good ? |
| Answer» <html><body><p></p>Solution :Normal goods <a href="https://interviewquestions.tuteehub.com/tag/refer-621103" style="font-weight:bold;" target="_blank" title="Click to know more about REFER">REFER</a> to those goods whose demand increases with an <a href="https://interviewquestions.tuteehub.com/tag/increase-1040383" style="font-weight:bold;" target="_blank" title="Click to know more about INCREASE">INCREASE</a> in income. For <a href="https://interviewquestions.tuteehub.com/tag/example-978283" style="font-weight:bold;" target="_blank" title="Click to know more about EXAMPLE">EXAMPLE</a> : If demand of 'Full Cream Milk' increase with increase in income, the 'Full Cream Milk' is a normal <a href="https://interviewquestions.tuteehub.com/tag/good-1009017" style="font-weight:bold;" target="_blank" title="Click to know more about GOOD">GOOD</a>.</body></html> | |
| 4319. |
What is the difference between census method and sampling method? |
| Answer» <html><body><p></p>Solution :The census is a systematic method that <a href="https://interviewquestions.tuteehub.com/tag/collects-422095" style="font-weight:bold;" target="_blank" title="Click to know more about COLLECTS">COLLECTS</a> and <a href="https://interviewquestions.tuteehub.com/tag/records-1180480" style="font-weight:bold;" target="_blank" title="Click to know more about RECORDS">RECORDS</a> the data about the <a href="https://interviewquestions.tuteehub.com/tag/members-1093187" style="font-weight:bold;" target="_blank" title="Click to know more about MEMBERS">MEMBERS</a> of the population. ... In contrast, sampling is <a href="https://interviewquestions.tuteehub.com/tag/also-373387" style="font-weight:bold;" target="_blank" title="Click to know more about ALSO">ALSO</a> known as a <a href="https://interviewquestions.tuteehub.com/tag/partial-596556" style="font-weight:bold;" target="_blank" title="Click to know more about PARTIAL">PARTIAL</a> enumeration survey method. In the census, each and every unit of population is researched</body></html> | |
| 4320. |
A consumer consumes only two goods X and Y and is in equilibrium with MU_(x)=MU_(y) , then: |
| Answer» <html><body><p><<a href="https://interviewquestions.tuteehub.com/tag/p-588962" style="font-weight:bold;" target="_blank" title="Click to know more about P">P</a>>`P_(<a href="https://interviewquestions.tuteehub.com/tag/x-746616" style="font-weight:bold;" target="_blank" title="Click to know more about X">X</a>)=P_(y)` <br/>`P_(x)ltP_(y)` <br/>`P_(x)gtP_(y)` <br/>Any of the above </p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :A</body></html> | |
| 4321. |
In percentilies , series is divided in hundred equal parts. |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/trueit-2290686" style="font-weight:bold;" target="_blank" title="Click to know more about TRUEIT">TRUEIT</a> <a href="https://interviewquestions.tuteehub.com/tag/divides-957389" style="font-weight:bold;" target="_blank" title="Click to know more about DIVIDES">DIVIDES</a> in <a href="https://interviewquestions.tuteehub.com/tag/100-263808" style="font-weight:bold;" target="_blank" title="Click to know more about 100">100</a> <a href="https://interviewquestions.tuteehub.com/tag/parts-1148278" style="font-weight:bold;" target="_blank" title="Click to know more about PARTS">PARTS</a></body></html> | |
| 4322. |
Why can a firm not earn abnormal profits under perfect competition in the long run? Explain. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :It is because the no. of sellers is so large that the share of each seller is insignificant in the total supply. Hence, an individual seller cannot <a href="https://interviewquestions.tuteehub.com/tag/influence-1043703" style="font-weight:bold;" target="_blank" title="Click to know more about INFLUENCE">INFLUENCE</a> the market price. Similarly, a single buyer's share in total purchase is so insignificant because of their large no. that an individual buyer cannot influence the market price. Under such conditions, price of a commodity is determined by the market <a href="https://interviewquestions.tuteehub.com/tag/forces-16875" style="font-weight:bold;" target="_blank" title="Click to know more about FORCES">FORCES</a> of demand and supply and each buyer and seller has to accept the same price. As a <a href="https://interviewquestions.tuteehub.com/tag/result-1187343" style="font-weight:bold;" target="_blank" title="Click to know more about RESULT">RESULT</a>, uniform price prevails in the market.</body></html> | |
| 4323. |
Identify positive or normative statements from the following : Free education should be given to the poor till class XII |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/normative-1124476" style="font-weight:bold;" target="_blank" title="Click to know more about NORMATIVE">NORMATIVE</a> <a href="https://interviewquestions.tuteehub.com/tag/statements-17642" style="font-weight:bold;" target="_blank" title="Click to know more about STATEMENTS">STATEMENTS</a> because it is <a href="https://interviewquestions.tuteehub.com/tag/advice-850918" style="font-weight:bold;" target="_blank" title="Click to know more about ADVICE">ADVICE</a></body></html> | |
| 4324. |
Identify which of the following is not true for the Indifference Curves theory. Give valid reasons for choice of your answer. |
| Answer» <html><body><p>Lower indifference curve represents lower level of satisfaction.<br/>Two indifference curves can <a href="https://interviewquestions.tuteehub.com/tag/intersect-1049831" style="font-weight:bold;" target="_blank" title="Click to know more about INTERSECT">INTERSECT</a> each other.<br/>Indifference curve must be convex to origin at the point of tangency with the <a href="https://interviewquestions.tuteehub.com/tag/budget-25496" style="font-weight:bold;" target="_blank" title="Click to know more about BUDGET">BUDGET</a> <a href="https://interviewquestions.tuteehub.com/tag/line-1074199" style="font-weight:bold;" target="_blank" title="Click to know more about LINE">LINE</a> at the <a href="https://interviewquestions.tuteehub.com/tag/consumer-25599" style="font-weight:bold;" target="_blank" title="Click to know more about CONSUMER">CONSUMER</a>'s equilibrium.<br/>Indifference curves are drawn under the ordinal approach to consumer equilibrium.</p>Solution :B</body></html> | |
| 4325. |
Which market form has the number of producers? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/monopoly-1101092" style="font-weight:bold;" target="_blank" title="Click to know more about MONOPOLY">MONOPOLY</a>.</body></html> | |
| 4326. |
Indifference Map refers to: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/highest-1022683" style="font-weight:bold;" target="_blank" title="Click to know more about HIGHEST">HIGHEST</a> <a href="https://interviewquestions.tuteehub.com/tag/indifference-1041534" style="font-weight:bold;" target="_blank" title="Click to know more about INDIFFERENCE">INDIFFERENCE</a> curve<br/>Lowest Indifference curve<br/>Family of indifference curves<br/>None of these</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 4327. |
Production in an economy is below its potential due to unemployment. Government starts employment generation schemes. Explain its effect using PPC. |
| Answer» <html><body><p></p>Solution :PPC <a href="https://interviewquestions.tuteehub.com/tag/represents-1185452" style="font-weight:bold;" target="_blank" title="Click to know more about REPRESENTS">REPRESENTS</a> different <a href="https://interviewquestions.tuteehub.com/tag/combination-922669" style="font-weight:bold;" target="_blank" title="Click to know more about COMBINATION">COMBINATION</a> of two goods which can be produced with given resources <a href="https://interviewquestions.tuteehub.com/tag/assuming-1986865" style="font-weight:bold;" target="_blank" title="Click to know more about ASSUMING">ASSUMING</a> (i) Resources are fully and efficiently utilised (ii) Technique of <a href="https://interviewquestions.tuteehub.com/tag/production-14556" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCTION">PRODUCTION</a> remains unchanged. <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/MIC_ECO_XI_U01_C01_E01_077_S01.png" width="80%"/> <br/> Due to unemployment, an economy operates inside the PPC (POint M and point N) implying under utilisation of resources. <br/> If the <a href="https://interviewquestions.tuteehub.com/tag/government-1010037" style="font-weight:bold;" target="_blank" title="Click to know more about GOVERNMENT">GOVERNMENT</a> starts employment generation schemes, the output will increase and may lead to fuller utilisation of resources on PPC AB.</body></html> | |
| 4328. |
Identify the following as Positive Statements and Normative Statements: (i) People should save more for their future. (ii) In India, population is increasing at an alarming rate. (iii) The Government should ompose heavy taxes on rich people. (iv) Smoking should be discouraged in the world. (v) In India, tax rate slabs increase with increase in income. (vi) Higher interest rates induces people to save more out of their income. (vii) High taxes on cigarettes discourage smoking. (viii) Government should put more efforts to reduce pollution. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Positive Statement: (ii),(<a href="https://interviewquestions.tuteehub.com/tag/v-722631" style="font-weight:bold;" target="_blank" title="Click to know more about V">V</a>),(vi),(<a href="https://interviewquestions.tuteehub.com/tag/vii-723638" style="font-weight:bold;" target="_blank" title="Click to know more about VII">VII</a>), <a href="https://interviewquestions.tuteehub.com/tag/normative-1124476" style="font-weight:bold;" target="_blank" title="Click to know more about NORMATIVE">NORMATIVE</a> Statements, (i),(<a href="https://interviewquestions.tuteehub.com/tag/iii-497983" style="font-weight:bold;" target="_blank" title="Click to know more about III">III</a>),(iv),(viii).</body></html> | |
| 4329. |
What is meant by inputs ? |
| Answer» <html><body><p><br/></p>Answer :Whatever is used in production of goods and services is <a href="https://interviewquestions.tuteehub.com/tag/called-907796" style="font-weight:bold;" target="_blank" title="Click to know more about CALLED">CALLED</a> <a href="https://interviewquestions.tuteehub.com/tag/inputs-1045695" style="font-weight:bold;" target="_blank" title="Click to know more about INPUTS">INPUTS</a>. e.g., land, labour, power <a href="https://interviewquestions.tuteehub.com/tag/transport-10176" style="font-weight:bold;" target="_blank" title="Click to know more about TRANSPORT">TRANSPORT</a>, <a href="https://interviewquestions.tuteehub.com/tag/raw-613057" style="font-weight:bold;" target="_blank" title="Click to know more about RAW">RAW</a> material, etc.</body></html> | |
| 4330. |
Mean marks obtainedby a student in his five subjects are 15. In English he secures 8 marks, in Economics 12, in Mathematics 18, and in Commerce 9. Find out the marks he secured in Statistics. |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :<a href="https://interviewquestions.tuteehub.com/tag/marks-1088184" style="font-weight:bold;" target="_blank" title="Click to know more about MARKS">MARKS</a> <a href="https://interviewquestions.tuteehub.com/tag/secured-7268045" style="font-weight:bold;" target="_blank" title="Click to know more about SECURED">SECURED</a> in <a href="https://interviewquestions.tuteehub.com/tag/statistics-8448" style="font-weight:bold;" target="_blank" title="Click to know more about STATISTICS">STATISTICS</a> = <a href="https://interviewquestions.tuteehub.com/tag/28-299271" style="font-weight:bold;" target="_blank" title="Click to know more about 28">28</a> marks</body></html> | |
| 4331. |
The law diminishing retuns refers to an eventual fall in : |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/productivity-1168351" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCTIVITY">PRODUCTIVITY</a> of <a href="https://interviewquestions.tuteehub.com/tag/factors-458933" style="font-weight:bold;" target="_blank" title="Click to know more about FACTORS">FACTORS</a> of production<br/>Total <a href="https://interviewquestions.tuteehub.com/tag/earnings-964162" style="font-weight:bold;" target="_blank" title="Click to know more about EARNINGS">EARNINGS</a> of the firm<br/>Marginal <a href="https://interviewquestions.tuteehub.com/tag/product-25523" style="font-weight:bold;" target="_blank" title="Click to know more about PRODUCT">PRODUCT</a> of the variable factor<br/>None of these</p>Answer :<a href="https://interviewquestions.tuteehub.com/tag/c-7168" style="font-weight:bold;" target="_blank" title="Click to know more about C">C</a></body></html> | |
| 4332. |
Salt when its price rises |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :No <a href="https://interviewquestions.tuteehub.com/tag/change-913808" style="font-weight:bold;" target="_blank" title="Click to know more about CHANGE">CHANGE</a> in <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> as it is a <a href="https://interviewquestions.tuteehub.com/tag/basic-15343" style="font-weight:bold;" target="_blank" title="Click to know more about BASIC">BASIC</a> <a href="https://interviewquestions.tuteehub.com/tag/necessity-1112797" style="font-weight:bold;" target="_blank" title="Click to know more about NECESSITY">NECESSITY</a></body></html> | |
| 4333. |
Explain the characteristic of a perfectly competitive market. |
| Answer» | |
| 4334. |
Distinguish between. (i) Normal good and inferior good (ii) Complementary good and substitute good (iii) Movement along demand curve and Shift in demand curve (iv) Change in quantity demanded and Change in demand (v) Constraction in demand and Decrease in demand (vi) Expansion in demand and Increase in demand (vii) Individual Demand and Market Demand (viii) Individual Demand Curve and Market Demand Curve |
| Answer» | |
| 4335. |
'Cardinality'' means utility can be: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/measured-7257656" style="font-weight:bold;" target="_blank" title="Click to know more about MEASURED">MEASURED</a> <br/>Ranked<br/>Not measured<br/>None of these</p>Answer :A</body></html> | |
| 4336. |
What should be the base year like ? |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :Base year should be an year which is without wide fluctuations,not far from the <a href="https://interviewquestions.tuteehub.com/tag/period-1151023" style="font-weight:bold;" target="_blank" title="Click to know more about PERIOD">PERIOD</a> of study, <a href="https://interviewquestions.tuteehub.com/tag/neither-1113494" style="font-weight:bold;" target="_blank" title="Click to know more about NEITHER">NEITHER</a> very long not very short and for which reliable data are <a href="https://interviewquestions.tuteehub.com/tag/available-888895" style="font-weight:bold;" target="_blank" title="Click to know more about AVAILABLE">AVAILABLE</a>.</body></html> | |
| 4337. |
What do you mean by a normal good? |
| Answer» | |
| 4338. |
Market for a necessary good is competitive in which the existing firms are earning super-normal profits. How can the policy of liberalisation by the government help in making themarket more competitive in the interests of the consumers. Explain. |
| Answer» <html><body><p></p>Solution :The policy of libralisation <a href="https://interviewquestions.tuteehub.com/tag/encourages-971001" style="font-weight:bold;" target="_blank" title="Click to know more about ENCOURAGES">ENCOURAGES</a> <a href="https://interviewquestions.tuteehub.com/tag/new-1114486" style="font-weight:bold;" target="_blank" title="Click to know more about NEW">NEW</a> firms to enter the industry. This <a href="https://interviewquestions.tuteehub.com/tag/raises-1176804" style="font-weight:bold;" target="_blank" title="Click to know more about RAISES">RAISES</a> output of the industry. Total market demand remaining unchanged, price starts falling. Consumers now <a href="https://interviewquestions.tuteehub.com/tag/get-11812" style="font-weight:bold;" target="_blank" title="Click to know more about GET">GET</a> the good at a cheaper price.</body></html> | |
| 4339. |
the following diagram represents____________elastic demand for commodity X. |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/less-1071906" style="font-weight:bold;" target="_blank" title="Click to know more about LESS">LESS</a> <br/>Highly<br/>Unitary <br/>Perfectly</p>Solution :N/a</body></html> | |
| 4340. |
What is the difference between table and tabulation? |
| Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :N/a</body></html> | |
| 4341. |
Government has fixed the price as OP_(1), while the equilibrium price is OP as seen in the following diagram: The price fixed by the government is known as: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/price-1165141" style="font-weight:bold;" target="_blank" title="Click to know more about PRICE">PRICE</a> Floor<br/>Minimum <a href="https://interviewquestions.tuteehub.com/tag/support-1235361" style="font-weight:bold;" target="_blank" title="Click to know more about SUPPORT">SUPPORT</a> price<br/>Price Ceiling<br/>Both (a) and (<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a>)</p><a href="https://interviewquestions.tuteehub.com/tag/answer-15557" style="font-weight:bold;" target="_blank" title="Click to know more about ANSWER">ANSWER</a> :(d)</body></html> | |
| 4342. |
Calculate rank correlation coefficient from data in Example 4 in Section 11.4 |
| Answer» <html><body><p></p>Solution :<img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/ECO_XI_A_U03_C11_S01_011_S01.png" width="80%"/> <br/> `rho=1-(6[SigmaD^(2)+(1)/(<a href="https://interviewquestions.tuteehub.com/tag/12-269062" style="font-weight:bold;" target="_blank" title="Click to know more about 12">12</a>)(m^(<a href="https://interviewquestions.tuteehub.com/tag/3-301577" style="font-weight:bold;" target="_blank" title="Click to know more about 3">3</a>)-m)+(1)/(12)(m^(3)-m)...])/(N(N^(2)-1))` <br/> `=1-[(6[18+(1)/(12)(5^(3)-5)])/(5(5^(5)-1))]` <br/> `=1-(6[18+(1)/(12)<a href="https://interviewquestions.tuteehub.com/tag/xx-747671" style="font-weight:bold;" target="_blank" title="Click to know more about XX">XX</a>(125-5)])/(5xx24)=1-(6(18+10))/(120)` <br/> `=1-(<a href="https://interviewquestions.tuteehub.com/tag/168-277726" style="font-weight:bold;" target="_blank" title="Click to know more about 168">168</a>)/(120)=1-1.04=-0.4`</body></html> | |
| 4343. |
On what basis, monopoly, monopolistic competition and oligopoly are simialr to each other: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/number-582134" style="font-weight:bold;" target="_blank" title="Click to know more about NUMBER">NUMBER</a> of sellers<br/>Price Determination<br/>Selling cost<br/>Level of knowledge</p>Solution :D</body></html> | |
| 4344. |
The choice of diagram is determined by: |
| Answer» <html><body><p><a href="https://interviewquestions.tuteehub.com/tag/resources-11387" style="font-weight:bold;" target="_blank" title="Click to know more about RESOURCES">RESOURCES</a> with the investigator <br/><a href="https://interviewquestions.tuteehub.com/tag/points-1157347" style="font-weight:bold;" target="_blank" title="Click to know more about POINTS">POINTS</a> to be highlighted<br/>The <a href="https://interviewquestions.tuteehub.com/tag/form-996208" style="font-weight:bold;" target="_blank" title="Click to know more about FORM">FORM</a>, in which <a href="https://interviewquestions.tuteehub.com/tag/data-25577" style="font-weight:bold;" target="_blank" title="Click to know more about DATA">DATA</a> is available <br/>All the above. </p>Solution :D</body></html> | |
| 4345. |
If a machinary has no possible alternative use, its opportunity cost will be very high. |
| Answer» <html><body><p></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :<a href="https://interviewquestions.tuteehub.com/tag/false-459184" style="font-weight:bold;" target="_blank" title="Click to know more about FALSE">FALSE</a>. The opportunity cost ofsuch <a href="https://interviewquestions.tuteehub.com/tag/machinery-1082418" style="font-weight:bold;" target="_blank" title="Click to know more about MACHINERY">MACHINERY</a> will be zero.Opportunity cost is the next-highest-valued <a href="https://interviewquestions.tuteehub.com/tag/alternative-858623" style="font-weight:bold;" target="_blank" title="Click to know more about ALTERNATIVE">ALTERNATIVE</a> use of that resource.</body></html> | |
| 4346. |
What is market demand for a good? Name the factors determining market demand. |
| Answer» <html><body><p></p>Solution :Market <a href="https://interviewquestions.tuteehub.com/tag/demand-436956" style="font-weight:bold;" target="_blank" title="Click to know more about DEMAND">DEMAND</a> is the sum of demand by all the <a href="https://interviewquestions.tuteehub.com/tag/individuals-1042422" style="font-weight:bold;" target="_blank" title="Click to know more about INDIVIDUALS">INDIVIDUALS</a> in the market.<br/>1. Size of population.<br/>2. Distribution of income.<br/>3. <a href="https://interviewquestions.tuteehub.com/tag/season-1197101" style="font-weight:bold;" target="_blank" title="Click to know more about SEASON">SEASON</a> and climate.<br/>4. Tastes and preferences.<br/>5. Price of <a href="https://interviewquestions.tuteehub.com/tag/relatedbrbr-2983848" style="font-weight:bold;" target="_blank" title="Click to know more about RELATED">RELATED</a> goods.</body></html> | |
| 4347. |
In case of perfect competition a firm is in equilibrium when: |
| Answer» <html><body><p>MC=<a href="https://interviewquestions.tuteehub.com/tag/mr-549185" style="font-weight:bold;" target="_blank" title="Click to know more about MR">MR</a><br/>MC <a href="https://interviewquestions.tuteehub.com/tag/cuts-942304" style="font-weight:bold;" target="_blank" title="Click to know more about CUTS">CUTS</a> MR from below<br/>MC is <a href="https://interviewquestions.tuteehub.com/tag/rising-1189698" style="font-weight:bold;" target="_blank" title="Click to know more about RISING">RISING</a> when it cuts MR <br/>All of these</p>Solution :N/a</body></html> | |
| 4348. |
How are central problem solves in different types of economies? |
| Answer» <html><body><p></p>Solution :The classification of an economy or solution of central problems in different types of economies can be studied under three heads : <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/MIC_ECO_XI_U01_C01_E01_066_S01.png" width="80%"/> <br/>(i) Market Economy. IN a market economy, all economy activities are organised through the market. It is also known as capitalist economy. In a market or capitalist economy, central problems of what, how and for whom to produce are solved by price mechanism i.e., by the prices <a href="https://interviewquestions.tuteehub.com/tag/prevailing-2950879" style="font-weight:bold;" target="_blank" title="Click to know more about PREVAILING">PREVAILING</a> in the market. In this economy, market forces, demand and supply are left free to determine price. Here production is done mainly for earning profits. In this economy, <a href="https://interviewquestions.tuteehub.com/tag/means-1091780" style="font-weight:bold;" target="_blank" title="Click to know more about MEANS">MEANS</a> of production are owned and controlled by the private sector. There is not Govt. interference. <br/> (ii) Centrally <a href="https://interviewquestions.tuteehub.com/tag/planned-1155689" style="font-weight:bold;" target="_blank" title="Click to know more about PLANNED">PLANNED</a> Economy. It is also known as a <a href="https://interviewquestions.tuteehub.com/tag/socialist-1215184" style="font-weight:bold;" target="_blank" title="Click to know more about SOCIALIST">SOCIALIST</a> economy. Here central problems of what, how and for whom to produce are solved through central planning. The Govt. or central authority of the economy plans all the important activities like production, exchange etc. The prices are determined by the planning authority. All decisions are taken with respect to maximize social welfare. <br/> (iii) Mixed Economy. It is mix of public and private sector in the field of production. In this economy important decisions regarding what, how and for whom to produce are taken by Govt. and economic activitis are by and large conducted by the market. All decisions <a href="https://interviewquestions.tuteehub.com/tag/aim-852223" style="font-weight:bold;" target="_blank" title="Click to know more about AIM">AIM</a> to achieve profit maximisation alongwith social welfare. <br/> <img src="https://d10lpgp6xz60nq.cloudfront.net/physics_images/MIC_ECO_XI_U01_C01_E01_066_S02.png" width="80%"/></body></html> | |
| 4349. |
Adjustment Factor for any Class is equal to : |
| Answer» <html><body><p>`"Class Interval of the <a href="https://interviewquestions.tuteehub.com/tag/first-461760" style="font-weight:bold;" target="_blank" title="Click to know more about FIRST">FIRST</a> Class"/ "<a href="https://interviewquestions.tuteehub.com/tag/lowest-1081124" style="font-weight:bold;" target="_blank" title="Click to know more about LOWEST">LOWEST</a> Class Interval"`<br/>`"Class Interval of the <a href="https://interviewquestions.tuteehub.com/tag/concernedstrong-2536362" style="font-weight:bold;" target="_blank" title="Click to know more about CONCERNED">CONCERNED</a> Class"/ "Lowest Class Interval"`<br/>`"Class Interval of the First Class"/ "Upper Class Interval"`<br/>`"Class Interval of the Concerned Class"/ "Upper Class Interval"`</p>Solution :<a href="https://interviewquestions.tuteehub.com/tag/b-387190" style="font-weight:bold;" target="_blank" title="Click to know more about B">B</a></body></html> | |
| 4350. |
In the market, three exists demand for LPG cylinders. To do away with this excess demand government has tried to restrict its usage by providing only 9 LPG cylinders at subsidized rates in a year. What policy implication does this move by government have ? |
| Answer» <html><body><p><br/></p>Solution :`**` Providing only 9 <a href="https://interviewquestions.tuteehub.com/tag/lpg-537702" style="font-weight:bold;" target="_blank" title="Click to know more about LPG">LPG</a> <a href="https://interviewquestions.tuteehub.com/tag/cylinders-942674" style="font-weight:bold;" target="_blank" title="Click to know more about CYLINDERS">CYLINDERS</a> at subsidized rates is <a href="https://interviewquestions.tuteehub.com/tag/government-1010037" style="font-weight:bold;" target="_blank" title="Click to know more about GOVERNMENT">GOVERNMENT</a>'s away of restricting the excess demand for LPG <br/> `**` Since the cylinders now come with a greater price tag, people will optimise its usage <br/> `**` It will <a href="https://interviewquestions.tuteehub.com/tag/help-1018089" style="font-weight:bold;" target="_blank" title="Click to know more about HELP">HELP</a> in <a href="https://interviewquestions.tuteehub.com/tag/saving-1195397" style="font-weight:bold;" target="_blank" title="Click to know more about SAVING">SAVING</a> of natural resources <br/> `**` It will life off some pressure from the government due to fall in its expenditure on subsidies.</body></html> | |