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This section includes 7 InterviewSolutions, each offering curated multiple-choice questions to sharpen your Current Affairs knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
The mean of 9 observations is 45. If 24 is printed wrongly as 42 then the correct mean is A) 42 B) 44 C) 41 D) 43 |
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Answer» Correct option is D) 43 |
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| 2. |
Greater than cumulative frequency is related to …….. |
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Answer» Lower boundaries |
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| 3. |
Why did the common people not want the war? |
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Answer» Fatigued by military reserves and upset at economic shortages, the common people did not want the war. |
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| 4. |
The mid value of 10 – 20 is ………………… A) 10 B) 20 C) 15 D) 16 |
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Answer» Correct option is C) 15 |
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| 5. |
Which of the following contains only one value ? A) A.M. B) Median C) Mode D) All the above |
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Answer» Correct option is A) A.M. |
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| 6. |
Less than cumulative frequency is related to ……. |
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Answer» Upper boundaries |
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| 7. |
Classes like 0-10, 10-20, 20-30 ………….. are called classes. A) Maximum B) Axis C) Exclusive D) Inclusive |
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Answer» Correct option is D) Inclusive |
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| 8. |
Maximum value – minimum value = ………………. A) range B) curve C) axis D) limit |
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Answer» Correct option is A) range |
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| 9. |
Which of the following is depend on all the observations ? A) A.M. B) Median C) ModeD) All the above |
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Answer» Correct option is A) A.M. |
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| 10. |
What was “Socialistic camp”? |
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Answer» Fatigued by military reserves and upset at economic shortages, the common people did not want the war. |
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| 11. |
If file median of x, 2x, 4x is 12, then find mean of the data. |
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Answer» Given observations are x, 2x, 4x ∴ Median = 2x According to the sum 2x = 12 ⇒ x = 6 2x = 2 × 6 = 12 4x = 4 × 6 = 24 ∴ The mean of 6, 12, 24 = (6 + 12 + 24) / 3 = 42 / 3 = 14 |
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| 12. |
If the median of the data 24, 29, 34, 38, x is 29 then the value of ‘x’ isi) x > 38 ii) x < 29 iii) x lies in between 29 and 34 iv) none |
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Answer» Median of 24, 29, 34, 38, x is 29. n = 5 is an odd., ∴ Median = (n + 1) / 2 = (5 + 1) / 2 = 3rd term If x is less than 29, then only 29 should be a 3rd term. ∴ x < 29 |
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| 13. |
AM (On Deviation Method) = ……………..A) \(\overline{x}\) = A + \(\frac{∑(xi-A)}{N}\)B) Σfx C) \(\frac{∑fx}{∑f}\)D) \(\overline{x}\) = A – \(\frac{∑xi}{N}\) |
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Answer» A) \(\overline{x}\) = A + \(\frac{∑(xi-A)}{N}\) |
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| 14. |
Classes like 1-10,11-20, 21-30 …………….. are called ………….. classes. A) Inclusive B) Exclusive C) Frequency D) None |
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Answer» Correct option is A) Inclusive |
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| 15. |
The range of first 100 natural numbers is ………………… A) 98 B) 99 C) 109 D) 110 |
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Answer» Correct option is B) 99 |
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| 16. |
What is the relation between Marginal Cost and Average Cost when Average Cost is constant? |
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Answer» MC = AC When Average Cost is constant, AC curve is at its minimum point. At this point, MC curve cuts AC curve, which implies MC = AC. |
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| 17. |
If ‘n’ is even then median is equal to the mean of……………….A) \(\frac{n}{2}\), \(\frac{n}{2}\)– 1 B) \(\frac{n}{2}\) ,\(\frac{n+1}{2}\)C) \(\frac{n-1}{2}\), n D) \(\frac{n}{2}\) , n + 1 |
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Answer» Correct option is B) \(\frac{n}{2}\) ,\(\frac{n+1}{2}\) |
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| 18. |
The A.M numbers starting with x + 1 is A) x + 5.5 B) x – 5.5 C) x + 10 D) x + 5 |
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Answer» Correct option is A) x + 5.5 |
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| 19. |
A.M. of 20, 11, 21, 25, 23, 14 is A) 19 B) 18 C) 17 D) 20 |
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Answer» Correct option is A) 19 |
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| 20. |
Mean of first 10 natural numbers is …………………. A) 6.5 B) 55 C) 3.5 D) 5.5 |
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Answer» Correct option is D) 5.5 |
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| 21. |
How does total fixed cost change when the output changes? |
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Answer» Total fixed cost remains unchanged even when output changes. |
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| 22. |
Median of 14, 36, 25, 28, 35, 32, 56, 42, 50 is ………………. A) 16 B) 53 C) 35 D) 45 |
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Answer» Correct option is C) 35 |
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| 23. |
The mean of first 10 natural numbers is A) 55B) 5.5 C) 4.5 D) 45 |
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Answer» Correct option is B) 5.5 |
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| 24. |
Mean of first 5 prime numbers is ……………… A) 6 B) 5 C) 6.5 D) 5.6 |
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Answer» Correct option is D) 5.6 |
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| 25. |
Why does Average Fixed cost fall with increase in output? |
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Answer» As TFC is fixed, increase in output results in fall in AFC. |
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| 26. |
Which of the following Central Tendency values is used frequently ? A) A.M. B) Median C) Mode D) All the above |
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Answer» Correct option is A) A.M. |
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| 27. |
Which of the following are Central Tendency Measure ? A) A.M. B) Median C) Mode D) All the above |
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Answer» D) All the above |
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| 28. |
Median of 49, 48, 15, 20, 28, 17, 14 and 110 is …………………. A) 31 B) 92 C) 24 D) 42 |
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Answer» Correct option is C) 24 |
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| 29. |
What is the behaviour of Average Fixed Cost as output increases? |
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Answer» Average fixed cost (AFC) continuously decreases as output increases. But it is never reduced to zero. |
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| 30. |
How is the demand for a complementary good affected by the increase in the price of its related good? |
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Answer» The demand for a complementary good increases, if the price of its related good deccreases. |
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| 31. |
How does the structure of population affect the demand? |
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Answer» The structure of the population also affects the demand of various commodities, the demand of modern textiles is very much in the country, which has a high percentage of youth in the population. IF in a country, the number of elderly is high, there is more demand for traditional items. |
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| 32. |
Sum of the central angles in a pie chart is ……………….. A) 360° B) 300° C) 110° D) 60° |
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Answer» Correct option is A) 360° The pie chart makes a circle and the central angle of a circle is 360° hence, the correct option is A)360°
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| 33. |
Information collected is called …………………A) Limit B) Information C) Range D) Class Interval |
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Answer» B) Information |
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| 34. |
Give an example, each of Fixed Cost and Variable Cost. |
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Answer» Fixed Cost: Expenditure on rent of factory building. Variable Cost: Expenditure on raw material. |
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| 35. |
If the demand for good Y increases as price of another good X rises, how are the two goods related? |
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Answer» X and Y are substitute goods. |
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| 36. |
What do you understand by quantity demanded? |
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Answer» It refers to the particular amount of the commodity that the consumer is ready to purchase corresponding to its particular price at a point of time. |
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| 37. |
Why are goods demanded? |
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Answer» We demand goods and services because these have the capacity to fulfil our wants. The ability to satisfy human desire is called ‘Utility’. Thus, we can state that goods are demanded because these possess utility. |
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| 38. |
Give two examples of Variable Cost. |
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Answer» Expenditure on raw material, wages of casual labour, etc. |
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| 39. |
Give two examples of Fixed Cost. |
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Answer» Expenditure on rent of factory building, salary of permanent workers, etc. |
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| 40. |
If the quantity demanded of commodity X decreases as the household income increases, what type of good is X? |
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Answer» Inferior goods. |
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| 41. |
Define Variable Cost. |
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Answer» The cost which changes with change in output is called Variable Cost. |
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| 42. |
Give two examples of Implicit costs. |
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Answer» (i) Estimated wages of services of owners. (ii) Estimated rent of owners factory building etc. |
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| 43. |
Define Opportunity Cost. |
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Answer» Opportunity Cost is the value of a factor in its best alternative use. |
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| 44. |
Give the meaning of Variable Cost. |
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Answer» The cost which changes with change in output is called Variable Cost. |
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| 45. |
Define Prime Cost or Direct Cost. |
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Answer» The cost which changes with change in output is called Variable Cost. |
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| 46. |
Define Fixed Cost. |
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Answer» The cost which remains unchanged with change in output. |
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| 47. |
What is Explicit Cost? |
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Answer» The expenses incurred by the producer when the inputs are purchased or hired from the market. |
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| 48. |
Define Marginal Cost. |
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Answer» Marginal Cost is the addition made to the total cost by the production of one more unit of a commodity. MC = TCn – TCn-1 Or MC = △TC/ △Q or △TVC/ △Q |
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| 49. |
A farmer invests his own saving in doing farmings but hires labour to do work. Identify Implicit Cost. |
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Answer» Imputed interest of own saving is Implicit Cost. |
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| 50. |
Give the meaning of Total Revenue. |
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Answer» Total Revenue is the sum total of revenue derived from the sale of all units of the commodity. TR = ∑MR |
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