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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.
| 401. |
Difference between increse in demand nd expansion in demand |
| Answer» Increase in demand means increase in demand due to other factors except price of commodity but expansion of demand refer to extend in demand due to fall in own price of the commodity<br>Increase in demand means imcrease in demand of single product only. But expansion in demand means the increase in demand of many products consumed by consumer | |
| 402. |
Explain the effect of rise in income of a consumer on his demand for a commodity 6 marks ans |
| Answer» NORMAL GOODS - when the income of the consumer will increse the the demand of normal good will also increse.FOR EXAMPLE - IF THE INCOME OF THE CONSUMER WILL INCRESE THEN HE WILL BE ABLE TO SHIFT FROM BLACK AND WHITE TV TO COLOURFUL TV SET, SO , COLOURFUL TV SET IS NORMAL GOOD .INFERIOR GOODS - when the income of the consumer increses then the goods whose demand decreses is known as inferior goods .FOR EXAMPLE - IF THE INCOME OF THE CONSUMER WILL INCRESE THEN THE HE WILL BE ABLE TO SHIFT IN COLOURFUL TV FROM BLACK AND WHITE TV SET , SO, BLACK AND WHITE TV SET IS SAID TO BE INFERIOR GOOD . | |
| 403. |
What is price elasticity |
| Answer» It is a measurement of the degree of change in demand in response to a change in own price of the commodity | |
| 404. |
Mujhe measure of dispersion nhi ataaa pls tell me |
| Answer» | |
| 405. |
How to solve mean median mode in one question |
| Answer» Tb Fir kaise any idea<br>its very easy but how i\'ll explain here<br>Yrr koi iska answer de do | |
| 406. |
What is equi marginal utility |
| Answer» | |
| 407. |
mr/mc approach |
| Answer» not in syllabus . TR/TC approach is important | |
| 408. |
What is price distrcimination |
| Answer» It means that how the price of good determine<br>Price discrimination is that where producer can charge different price for the same product | |
| 409. |
What is central problems of economy? Please answe in easy language |
| Answer» Central problem of economy are:-What to produceHow to produce For whom to produce | |
| 410. |
What is shut down point? |
| Answer» A shutdown point is a level of operations at which a company experiences no benefit for continuing operations, and therefore decides to shut down temporarily (or in some cases permanently). It results from the combination of output and price where the company earns just enough revenue to cover its total variable costs. | |
| 411. |
What is utility |
| Answer» Yes<br>Utility is the want satisfying power of a commodity | |
| 412. |
Lorenz curv |
| Answer» It is a measure of deviation of actual distribution from the line of equal distribution. Greater the distance of Laurence curve from the line of equal distribution more is the inequality on the other hand closer is the Laurence curve to the line of equal distribution lower will be degree of inequality.. In this we have to findCf of x% of xCf of y% of y<br>Lorenz curve | |
| 413. |
What is budjet linr |
| Answer» It is a line which shows all possible combination of 2 goods that can be purchased by a consumer at given prices in such a manner that his entire income is spend on these goods<br>The 2 bundles of a commodity that consumer can buy in his entire income at market price of goods. | |
| 414. |
Distinguish between perfect competition market and monopolistic competition market |
| Answer» \tBASIS FOR COMPARISONPERFECT COMPETITIONMONOPOLISTIC COMPETITIONMeaningA market structure, where there are many sellers selling similar goods to the buyers, is perfect competition.Monopolistic Competition is a market structure, where there are numerous sellers, selling close substitute goods to the buyers.ProductStandardizedDifferentiatedPriceDetermined by demand and supply forces, for the whole industry.Every firm offer products to customers at its own price.Entry and ExitNo barrierFew barriersDemand Curve slopeHorizontal, perfectly elastic.Downward sloping, relatively elastic.Relation between AR and MRAR = MRAR > MRSituationUnrealisticRealistic\t | |
| 415. |
average cost fall only when marginal cost fall give statement |
| Answer» | |
| 416. |
Different between micro and macro economics |
| Answer» microeconomics refers to that Economics with deals with the economic problem related to life of an individual person for example calculating the pocket money of an individual person is a component of microeconomics the vital components of microeconomics are as follows first theory of producer behaviour of Theory of supply theory of consumer behaviour of theory of demand and theory of price determination also microphone macroeconomics officer that branch of economics that deals with the economic problems related to economy as a whole for example calculating national income and GDP growth is example of macroeconomics the vital components of microeconomics theory related to the equilibrium in the economy theory related to the disequilibrium in the economy and theory of its correction.<br>Micro study individual economic variable whereas macro study aggregate economic variable.Ex. Income of one person is micro economics whereas Income of whole country in macro economics. | |
| 417. |
MR-MC approach of producer equilibrium |
| Answer» Two following conditions should be satisfied:-1. MC = MRThis is satisfied at 2 points in the schedule.2. MC > MR after MC = MRThis is satisfied only at one point as at the first point, the MC curve dips but at the second point it increases. Hence, the second point will be the point of equilibrium as if the consumer goes on producing after this point he will gain losses.MR MC Approach is also known as Producer\'s Equilibrium.( graph can be seen from any guide) | |
| 418. |
Diagram of producer epuilibrium |
| Answer» | |
| 419. |
Low of diminishing |
| Answer» | |
| 420. |
What is consumer awareness ? |
| Answer» Consumer awareness refers to the awareness of cosumers................................................... . . . ......................<br>The thinks that they belong should be given to them<br>Consumer awareness refers to awareness of consumer about what are the thinks that they want and for that they have to fight for them selves | |
| 421. |
Explain shift in budget line for 6marks answer? |
| Answer» | |
| 422. |
Define fiscal deficit |
| Answer» A fiscal deficit is a gap by which government’s total expenditures exceed the government’s total generated revenue. This, however, does not include the government borrowings.Fiscal deficit = Total expenditure – Total receipts excluding borrowingsFiscal deficit indicates the amount of money that the government will need to borrow during the financial year. A greater deficit implies more borrowing by the government and the extent of the deficit indicates the amount of expense for which the money is borrowed. | |
| 423. |
What is economy..? |
| Answer» An economy is a system which provides people the means to work and earn a living.<br>Economy is system by which people of an area earn their living. | |
| 424. |
What will happen to an economy if resources are increased? Explain with the help of diagram. |
| Answer» Production capacity will increase and PPC will shift rightward | |
| 425. |
Feature of economic |
| Answer» Some of the main characteristics of economics are as follows:1. Micro in Nature:Business economics is micro-economics in nature. This is due to the study of business economics mainly at the level of the firm.Generally a business manager is concerned with problems of his own business unit. He does not study the economic problems of an economy as a whole.2. Basis of Theory of Markets and Private Enterprises:Business economics largely uses the theory of markets and private enterprise. It uses the theory of the firm and resource allocation of private enterprise economy.3. Pragmatic in Approach:Business economics is pragmatic in its approach. It does not involve itself with the theoretical controversies of economics. Yet it does not relegate the realities of business decision-making to the background by bringing in abstract assumptions. While economic theory abstracts from realities of the individual business units to build up its theories, managerial economics takes proper note of the particular economic environment in which a firm works.4. Normative in Nature:Business economics is also called normative economics which prescribes standards or norms for policy making. Business economics is prescriptive rather than descriptive in nature. In economic theory, we try to explain economic bahaviour: in business economics, we try to prescribe policies for a business manager which are most likely applied to achieve his objectives. In economic theory, we build ‘laws’ such as the law of Demand and the Law of Diminishing Returns. In business economics we apply these laws for policy planning at the level of a firm.5. Macro Analysis:Macro economics which deals with the principles of economic behaviour for the economy as a whole is also useful for business economics. A business unit operates within some economic environment which is in turn shaped by the behaviour of the economy as a whole. Therefore, business manager must know the external forces working over his business environment. | |
| 426. |
When rank no given |
| Answer» Give them ranks from hightest to lowest | |
| 427. |
What are the conditions of consumers equilibrium |
| Answer» The following conditions apply to achieve the consumer equilibrium:1.Budget line should be tangent to the indifference curve-because only at this point does the consumer get maximum satisfaction and it is within his budget.2. Slope of the price line should be equal to the slope of the indifference curve-consumers only get maximum satisfaction at a point where the price line is tangent to the highest possible indifference curve from below.3.Indifference curve should be convex to the origin-this ensures that at the point of equilibrium ,the marginal rate of substitution is diminishing.Read more on Brainly.in - https://brainly.in/question/4009386#readmore | |
| 428. |
Cartel |
| Answer» Group formed by companies for comman interest | |
| 429. |
Microeconomic 11th class sample papers |
| Answer» yeah in needed | |
| 430. |
By using short cut method finfmn out mean from the following data 15,20,30,22,25,18,40,50,55,65 |
| Answer» What is revenue | |
| 431. |
Sir what will be the ans of. Central problem of an ecomony |
| Answer» Central problem of an economy - 1. What to produce ( selection of goods ). 2. How to produce (selection of techniques ) 3. Whom to produce ( distribution of goods or income ) | |
| 432. |
What is scope and importance of economics |
| Answer» | |
| 433. |
Price elasticity of supply of a good is 0.8 . Is the supply \'elastic\' or \'inelastic\' ,and why ? |
| Answer» Supply is inelastic because elastic supply is less than 1.<br>Less elastic supply | |
| 434. |
How monopoly is created |
| Answer» Thanku sie<br>Five ways to create monopoly. 1.regulation. 2.subsidies. 3.nationalization. 4.tariffs. 5.intellectual property | |
| 435. |
What is Economic,Define? |
| Answer» Economic is a subject matter that deals with economic problem related to human life | |
| 436. |
Explain the effect of price ceiling |
| Answer» A price ceiling is a government-imposed price control or limit on how high a price is charged for a product. Governments intend price ceilings to protect consumers from conditions that could make necessary commodities unattainable. It is the legislated or government imposed maximum level of price that can be charged by the seller. Since price ceiling is lower than the equilibrium price thus the imposition of the price ceiling leads to excess demand.The following are the consequences and effects of price ceiling:1) An effective price ceiling will lower the price of a good, which decreases the producer surplus. The effective price ceiling will also decrease the price for consumers,but any benefit gained from that will be minimized by the decreased sales due to the drop in supply caused by the lower price.2) If a ceiling is to be imposed for a long period of time, a government may need to ration the good to ensure availability for the greatest number of consumers.3) Prolonged shortages caused by price ceilings can create black markets for that good.4) Due to artificially lowering the price, the demand becomes comparatively higher than the supply. This leads to the emergence of the problem of excess demand. | |
| 437. |
Formula of statistics |
| Answer» | |
| 438. |
Explain money multiplier? |
| Answer» Money multiplier is the amount of money that banks generate with each dollar of reserves.? | |
| 439. |
In production function why the producer want to be in 2 phase |
| Answer» A producer alway wants to produce in the second phase because in that phase his profit is maximised. Total Product (TP) is maximum and marginal product (MP) is 0. Its the most profitabe. In stage 1 he can still go on increasing production and in stage 3 he will face lose. | |
| 440. |
Differentiate b/w MRS and Market rate of exchange. |
| Answer» I guess there is a difference b/w exchange rate and market rate of exchange.<br>* marginal rate of substitution (MRS) is the amount of a good that a consumer is willing to give up for another good, as long as the new good is equally satisfying. It\'s used in indifference theory★★★★★ An exchange rate is the price of a nation\'s currency in terms of another currency. ... Exchange rates are quoted in values against the US dollar. | |
| 441. |
What is different between physically and human capital |
| Answer» Physical capital can be separated from its owner easily. On the other extreme, human capital is inseparable from its possessor.Physical capital is usually mobile, but some restrictions occurs out of trade barriers imposed by different countries. However, when it comes to the mobility of human capital, it is not fully mobile between countries, as the mobility is restricted by nationality and culture.While physical capital appears in the financial statement of the company, human capital is not shown in the financial statement.Both physical and human capital undergo depreciation, but the reason is different, in the sense that physical capital is depreciated because of costant use. On the other side, human capital is depreciated out of ageing factor but can be reduced to a larger extent by making investment in health and education.<br>The substantial differences between physical capital and human capital are outlined below:Physical Capital, is used to mean, the company’s non-human assets like plant and machinery, building, computers, office supplies etc. that assist in the production of goods and services. On the contrary, human capital is defined by collection of knowledge, talent, skills and abilities possessed by an employee or a group of employees working in an organization.Physical capital is tangible in nature, i.e. it can be seen and touched. Unlike human capital is intangible, that can only be experienced.The creation of physical capital is an economic and technical process. Conversely, the formation of human capital is a social process, but it is also a result of conscious decisions taken by the entrepreneur in this regard.Physical capital can be sold in the market directly, whereas human capital cannot be traded in the market, rather the services are sold.Physical capital can be separated from its owner easily. On the other extreme, human capital is inseparable from its possessor. | |
| 442. |
Explain the concept of minimum price support policy/price flooring. |
| Answer» Price flooring is such a price which is fixed by the government more than equilibrium price of the product .Generally it happens when the producers are found in loss on selling their goods at equilibrium point. To protect them the government fix the price of the product ,so that producer can get proper price or more price of their good . It is also called minimum support price becauce no any other purchaser can purchase the product of these producers at price less than the price fixed by the government.<br>Price floor means the lowest or minimum price fixed by the government for a product. The government fixes price for farm products. This regulates income of the farmers. | |
| 443. |
Chapter imp in micro eco |
| Answer» Learn the basic chapter i.e consumer equilibrium, producer equilibrium , demand , supply, and forms if market | |
| 444. |
Factors affecting price elasticity of demand |
| Answer» Factors:1. Nature of commodity2. Availability of substitutes 3. Multiple uses4. Postponement of use5. Income level of the buyers6. Habit of consumers | |
| 445. |
Why does demand slope downword |
| Answer» 1)law of demand2)income effect3) substitute effect<br>Due to LAW OF DEMAND<br>Because of loss | |
| 446. |
Students view on producers behaviour towards profit maximization |
| Answer» | |
| 447. |
What is zero correlation? Give an example |
| Answer» Zero correlation is a correlation<br>When two variables don\'t have any relation with each other it is known as zero correlation....Eg. Marks in economics and weights of students.. | |
| 448. |
Why AR can never be zero and negative? |
| Answer» AR can never b zero as AR=price and can never b 0 or negetibe | |
| 449. |
Differance between change in supply and change in quantity supplied. Use the diagram. |
| Answer» | |
| 450. |
There is not a chapter wise blueprint of economics subject |
| Answer» No | |