Compare and analyse the given data of India and China with valid reasons.

The reasons for the slow down of growth and re-emergence of poverty in Pakistan's economy are agricultural growth and food supply situation, which were based not on an institutionalised process of technical change, but on a good harvest. When there was a good harvest the economy was in a good condition, when it was not, the economic indicators showed stagnation and negative trends.
What led to the slowdown of growth and re-emergence of poverty in Pakistan?

On the basis of the following data answer the following questions.

(a) Comment on the Infant Mortality Rate among India and Pakistan.
(b) 'Pakistan is more urbanised than India.' Do you agree?

Answer the following questions on the basis of the following data.
(a) Comment upon the Maternal Mortality Rate among India and China.
(b) Life expectancy at birth among these two countries.

Explain any four salient demographic indicators of China, Pakistan and India on the basis of the given table.

Economic development which aimed at increasing the production of goods and services to meet the needs of a rising population, puts greater pressure on the environment. In the initial stages of development, the demand for environmental resources was less than that of supply. Now the world today is faced with increased demand for environmental resources but their supply is limited, due to overuse and misuse. Sustainable development aims at promoting the kind of development that minimises environmental problems and meets the needs of the present generation without compromising the ability of the future generation to meet their own needs.
(a) How does economic development put greater pressure on environment?
(b) Give the aim of sustainable development.

India is hugely dependent on thermal and hydro power plants to meet its power requirements. Both these plants have adverse environmental impacts. Thermal power plants emit large quantities of carbon dioxide - a greenhouse gas and also produces fly ash which can pollute water bodies, land and other components of the environment. Hydro-power plants innundate the forests and interfere with the natural flow of water in catchment areas and the river basins.
(a) Which are the two types of power plants on which India depends upon for its power requirements?
(b) Elaborate the impact of these power plants on India's environment.

Infrastructure is the support system on which depends the efficient working of a modern industrial economy. Modern agriculture also largely depends on it for speedy and large-scale transport of seeds, pesticides, fertilisers, and the product using modern roadways, railways and shipping facilities. It has also to operate on a very large scale.
(a) What do you understand by the term 'infrastructure'?
(b) Elaborate the relevance of infrastructure in the modern agriculture.

In recent times, private sector has been playing a dominant role in medical education and training, medical technology and diagnostics, manufacture and sale of pharmaceuticals, hospital construction and the provision of medical services. Private sector in India has grown independently without any major regulation. Since the 1990s, owing to the 'liberalisation' measures many RI's and industrial companies have set up 'State-of-the-Art' super specialty hospitals to attract India's rich and medical tourists.
(a) Analyse the dominant role played by the private sector in the health infrastructure in recent times
(b) Which factor led to the rapid development of the private sector health mfrastructure?

There has been a change in the structure of workforce in India. Newly emerging jobs are found mostly in the service sector. The expansion of the service sector and the advent of high technology now frequently permit a highly competitive existence for efficientsmall scale and individual enterprises or specialist workers side t:r side with MNCs. 'Outsourcing'  work is becoming a common practice.
(a) What kind of change is noticed in the structure of workforce in India?
(b) What do you understand by 'outsourcing'?

Work Population Ratio in India (2071-18)

(a) What do you mean by the term 'Worker-population Ratio'?
(b) Analyse the above table related to 'Worker-population Ratio' in India (2017-18).

Trends in Employment Pattern Status wise (during 1972-2018 in Percentage)

(a) Compare the trends in employment pattern status wise during 1972-2018.
(b) Does the above trend indicates 'Casualisation of workforce'?

Diversification towards new areas is necessary not only to reduce the risk from agriculture sector but also to provide productive sustainable livelihood options to rural people. There is need to focus on allied activities, nonfarm sectors like agro-processing industries, food processing industries etc.
(a) Elaborate the need for diversification.
(b) Give one example of non-farm sector.

Efforts in evolving technologies which are eco-friendly are essential for sustainable development. One such technology is 'organic farming', which is a whole system of farming that restores, maintains and enhances the ecological balance. Organic farming also generates more income through exports and it provides food which has more nutritional value.
(a) Define 'organic farming'.
(b) Mention the two benefits of organic farming.

Horticulture sector contributes nearly 1/3rd of·the value of agricultural output and 6% of GDP of India. India has adopted growing various horticultural crops like fruits, vegetables, tube crops, flowers,spices and plantation crops. Economic condition of many farmers engaged in horticulture has improved and has become a means of improving the livelihood of many unprivileged classes. Rather flower harvesting, nursery maintenance, tissue culture etc. are highly lucrative employment options for women in rural areas.
(a) Name any two horticultural crops.
(b) Do you agree with the statement that economic condition of many farmers working in horticulture has improved?

People spend to acquire information relating to the labour market and other markets like education and health. This information is necessary to make decisions w.r.t investment in human capital and its efficient utilization. Thus, expenditure incurred for acquiring information relating to the labour market and other markets is also a source of human capital formation.
(a) Define information.
(b) Why do people spend to acquire information?
(c) Is this information necessary?

Educational Attainment in India
Adult Literacy Rate (Percent of people aged 15+)

On the basis of the above numerical information answer the following questions.
(a) Define' Adult Literacy Rate'.
(b) Analyse the upward movement in the literacy rate of both male and female during 2017-18.

Earlier under the 'self-employment programmes' financial assistance was given to families/individuals. Since the 1990s, this approach has been changed. Now those who wish to benefit from these programmes are encouraged to form 'Self-Help Groups'. Initially they are encouraged to save some money and lend among themselves as small loans. Later, through banks the government provides partial financial assistance to SHGs, which then decide whom the loan is to be given for self-employment activities. One such programme is 'Swarnajayanti Gram Rozgar Yojana', which has been renamed as 'Deendayal Upadhyaya Antyodaya Yojana'.
(a) Mention the two approaches of financial assistance prior and after the 1990s.
(b) Elaborate the change brought about in the role of Self-Help Groups.
(c) What is 'Swarnajayanti Gram Rozgar Yojana (SGRY), recently known as?

Poverty can effectively be eradicated only when the poor start contributing to growth. This is possible through a process of social mobilisation, encouraging poor to participate and empowering them. This in turn will help in creating employment opportunities, leading to increase in the level of income, skill development, health and literacy.
(a) Give two measures to eradicate poverty effectively.
(b) Analyse th~effects of active involvement of the poor in the growth process (2 effects).

A large. section of urban poor in India are largely the overflow of the rural poor who migrate to urban areas in search of employment and a livelihood. They are either unemployed, or intermittingly employed as 'Casual labourers'.
(a) Why there is overflow of the rural poor to the urban areas?
(b) Who are the 'Casual labourers'?

World Trade Organisation (WTO) was founded in 1995. It is expected to establish a 'rule-based trading regime' in which nations cannot place arbitrary restrictions on trade. Its purpose is to enlarge production and trade of services so as to ensure optimum utilization of world resources and to protect the environment. WTO agreements cover trade in goods as well as services to facilitate international trade through removal of tariff as well as nontariff barriers. and provide greater market access to all member countries.
(a) Highlight the purpose for which WTO was established in 1995.
(b) How does WTO facilitate international trade?

The process of globalisation through Iiberalisation and privatisation policies has produced positive and negative results both for India and other countries. It is argued that globalisation should be seen as an 'opportunity' for the developing countries, in terms of becoming important players in the international arena. On the other hand, it is argued that globalisation is a strategy of the developed countries to expand their markets in other countries. It is held that the market driven globalisation has widened the economic disparities among the nations and the people by further compromising the welfare and the identity of the people belonging to the poor countries. Further it has increased the income and quality of consumption of only high-income groups, with the growth concentrating only in select areas in the service sector like IT, telecommunication etc.
Critically analyse the role of globalisation in the development of the Indian economy.

A good indicator of economic growth is a steady increase in the Gross Domestic Product (GDP). GDP is the "market value of all the final goods and services produced in the country during a year". GDP of a country is derived from the different sectors of the economy, namely the agricultural sector, the industrial sector and the service sector. The contribution made by each of these sectors makes up the 'structural composition' of the economy.
(a) What is considered to be a good indicator of economic growth in the economy? Can you define it?
(b) Explain the 'structural composition' of the economy

The progress of the Indian economy during the first seven plans was impressive. Our industries became more diversified and India became self-sufficient in food production due to the 'Green Revolution'. Land reforms resulted in the abolition of the hated 'Zamindari System'. But in the industrial sector there was dissatisfaction on account of the performance of many public sector interprises. Indian policies were 'inward oriented' and they failed to develop a strong export sector. The need for the reform of economic policy was widely felt in the context of the changing global economic scenario: The New Economic Policy was thereby initiated in 1991 to make India more efficient.
(a) Give the three factors which highlight the impressive progress of the Indian economy during the first seven plans.
(b) Explain the background which initiated the New Economic Policy in India in 1991.

An index number is a statistical device for measuring relative change in a large number of items. Widely used index numbers in Economics are:
(i) Wholesale Price Index Number (WPI) is used to eliminate the effect of changes in prices on aggregates such as optional Income, capital formation etc. It is widely used to measure the rate of inflation.
(ii) Consumer Price Index (CPI) Number or Cost of Living Index Number is helpful in wage negotiation, formulation of economic policy, price policy, rent control, taxation etc. CPI is used in calculating the purchasing power of money and real wage.
(iii) Index of Industrial Production (lIP) gives us a quantitative figure about the change in production in the industrial sector.
(iv) Sensex is a useful guide for investors in the stock market.
(a) Give a brief account of the three mainly used index numbers in economics.
(b) Which index number is a useful guide for the investors?

The economic policies pursued by the colonial government in India were concerned more with the protection and promotion of the economic interests of their home country than with the development of the Indian economy. Such policies transformed the country into a supplier of raw materials and consumer of finished industrial products from Britain.
(a) What was the main concern of the colonial government in India?
(b) According to you, what was the outcome of these economic policies pursued by this government in India?

The British introduced the railways in India in 1850, which is considered as one oftheir most important contribution. The railways affected the structure of the Indian economy in two ways. On the one hand, it enabled people to undertake long distance travel and thereby breaking the geographical and cultural barriers. On the other hand, it fostered 'Commercialisation of Indian Agriculture' which in turn adversely affected the self-sufficiency of the village economy in India.
(a.) Which is the most important contribution of British in India?
(b) Elaborate the two ways in which the railways affected the structure of the Indian economy.

'Correlation' studies and measures the direction and intensity of relationship among variables. "Scatter diagram" is a useful technique of visual presentation of the relationship between the two variables, say X and Y. Correlation is commonly classified into negative and positive correlation. Correlation is positive when the variable X rises, variable Y will also rise and vice-versa. This means both X and Y move in the same direction. Correlation is negative when the two variables X and Y move in the opposite directions, i.e., when X rises, Y falls and vice-versa.
The value of co-efficient of correlation (r) lies between minus 1 and plus 1,\(-1 \leq r \leq 1\).
(i) If r = 0, the two variables are uncorrelated. There is no linear relation between them.
(ii) If r = \(\pm 1\), the correlation is perfect with exact linear relation.
(iii) A high value of r indicates strong linear relationship.
(iv) A low value of r (close to zero) indicates a weak linear relation.
(a) Define a 'Scatter Diagram'.
(b) Answer the following q~estions:
(i) Does zero correlation mean independence?
(ii) Does r = ±l indicate perfect correlation between the given two variables? (iii) Does a high value of r indicate a weak linear relation?

Absolute measures of dispersion calculate a value which, at times is difficult to interpret. For example, there are two data sets - Set A and Set B.

We observe that range for Set A is 500 whereas for Set B it is 30,000.
Thus, examples of absolute measure like above may give misleading ideas about the extent of variation. Another weakness of absolute measures of dispersion is that they give the answer in the units in which original values are expressed. As a result if the values are expressed in kilometers the dispersion also will be in kilometers.
To overcome these problems relative measures of dispersion can be used. Each absolute measure has a relative counterpart. For example for range there is a co-efficient of range, which is calculated a \(\frac{\mathbf{L}-\mathbf{S}}{\mathbf{L}+\mathbf{S}}\) .
(a) Give the formula for calculating the co-efficient of range.
(b) Highlight the two weaknesses of absolute measures of dispersion.
(c) How can the above problems of absolute measures of dispersion be overcome?

The measures of central tendency summarise the data with a single value, which can represent the entire data. It is a single most typical or representative value to describe the entire mass of data. Arithmetic mean is the most commonly used average. It is simple to calculate and is based on all the observations, but it is also unduly affected by the presence of extreme items. Median is a better summary for such data. Mode is generally used to describe the qualitative data. Further Median and Mode can be easily computed graphically.
(a) Define an 'average'.
(b) Elaborate which average is considered to be the mostly commonly used average.
(c) Give one difference between Mean and Mode.

Read the given passage and answer the question that follows: Diagrammatic presentation of data provides the quickest understanding of the actual situation to be explained by data in comparison to tabular or textual presentations. This presentation translates quite effectively the highly abstract idea contained in numbers into more concrete and easily comprehensible form. Diagrams may be less accurate but they are much more effective than tables in presenting the data.
Explain the advantages of diagrammatic presentation over the tabular or textual presentation

Indian Atta Mills Association reported that Atta production during the first fortnight of December 2010 was about 1,93,500 tonnes as against 1,89,000 tonnes during the same fornight in 2009. The offtake of Atta from the factories during the first fortnight of December 2010 was 1,41,500 tonnes for exports as against 77,000 tonnes for internal consumption and nil for exports during the same fortnight in 2009.
(a) Present the above data in a tabular form.
(b) Suppose you were to present the above data in diagrammatic form, which of the diagram you will use and why? (Note: Diagram not asked)

The data collected from primary and secondary sources are raw or unclassified. Once the data are collected the next step is to classify them for further statistical analysis. 'Classification' brings order to raw data which can be classified through the frequency distribution in a comprehensive manner. Once you know the techniques of classification, you can easily construct a frequency distribution, both for the continuous and discrete variable. A continuous variable can take any numerical value, e.g., height, weight etc. whereas a discrete variable can take only certain value, e.g., number of children, number of chairs etc.
(a) Explain how does classification of data brings order to raw data.
(b) Give an example each of a discrete variable and a continuous variable.

The classification of data as a frequency distribution has an inherent shortcoming. While it summarises raw data making it concise and comprehensible it does not show the datails that are found in raw data. There is loss of information in classifying raw data. Once the data are grouped into classes, an individual observation has no significance in further statistical calculation. This is so because when the data are grouped into classes an individual observation has no significance in further calculation. This is so because when data are grouped as 'classes' all values say in a given class 0-10 are grouped with a frequency of say 6, but not their actual values. All values in this class are assumed to be equal to the middle value of the class interval (i.e., 5).
What do you understand by the 'loss of information' in classified data? Explain with the help of an example.

The data based on first hand information are called 'Primary Data', as they are based on first-hand data. On the other hand, if the data have been collected and processed by some other agency, they are called 'Secondary Data' which can be obtained either from published sources such as government reports, documents, newspapers, websites etc. or from unpublished sources. Thus, the data are primary to the source that collects and processes them for the first time and secondary for all sources that later use such data. Use of secondary data saves time and cost.
(a) Give any two examples of published sources of data.
(b) 'Secondary data of today was primary data of yester years.' Elaborate.

There are some agencies both at the national and state level to collect, process and tabulate the statistical data. Some of these at the national level are Census of India, National Sample Survey Organisation (NSSO), Central Statistical Office (CSO), Labour Bureau etc.
(i) Census of India provides most complete and continuous demographic record of population. Since 1881, it is being conducted regularly every ten years. The first Census after independence was conducted in 1951. Census data is interpreted and analysed to understand many economic and social issues in India.
(ii) National Sample Survey Organisation (NSSO) established by the Government of India to conduct nationwide survey, on socio-economic issues. The data collected by NSSO are released through reports and its quarterly journal 'Sarvekshana'.
(a) Throw light on the agency at the national level providing most complete and continuous demographic record of the population.
(b )Which quarterly journal is released by the NSSO?

'Scarcity is the root of all economic problems.' Had there been no scarcity, no economic problem would have arisen. In our daily life, we face the shortage of essential commodities. We face scarcity because the things that satisfy our wants are limited in availability. The resources which the producers have are limited and also have alternative uses, which give rise to the 'problem of choice' between different commodities that can be produced by those resources.
(a) What is the root cause of all economic problems?
(b) Explain what gives rise to the problem of 'choice' in our daily life

No analysis of an economic problem would be possible without economic data, which are economic facts. Today we increasingly use statistics to analyse serious economic issues like rising prices, growing population, unemployment, poverty etc. The purpose of collecting data about these economic problems is to understand and explain the problems in terms of various causes behind them, i.e., we try to analyse them.
(a) Give any one example of an economic problem.
(b) 'No analysis of an economic problem would be possible without economic data.' Explain.

Which one of the following alternatives illustrate a decrease in unemployment using the PPF?

Which of the following options is a property of an indifference curve?

When income of the consumer falls the impact on price-demand curve of an inferior good is:

The price elasticity of demand is defined as the responsiveness of:

The short run, as economists use the phrase, is characterized by:

Production Possibilities Curve is also known as

When economists speak of the utility of a certain good, they are referring to________________.

Contraction of demand is the result of:

In case of a straight line demand curve meeting the two axes, the price elasticity of demand at the midpoint of the line would be:

Marginal product, mathematically, is the slope of the

Which one of the following bundles of goods cannot be produced with the resources the economy currently has?

Total utility is maximum when

If regardless of changes in its price, the quantity demanded of a good remains unchanged, then the demand curve for the good will be:

Identify the factor which generally keeps the price elasticity of demand for a good low

To economists, the main difference between short run and long run is that:

Scarcity is a situation in which

The consumer is in equilibrium at a point where the budget line___________.

In case of Giffen goods, the demand curve will be:

In case of a straight line demand curve meeting the two axes, the price elasticity of demand at the midpoint of the line would be:

The short run, as economists use the phrase, is characterized by:

The branch of economic theory that deals with the problem of allocation of resources is

When economists speak of the utility of a certain good, they are referring to________________.

If regardless of changes in its price, the quantity demanded of a good remains unchanged, then the demand curve for the good will be:

Identify the coefficient of price elasticity of demand when the percentage increase in the quantity of good demanded is smaller than the percentage fall in its price

The average product of labour is maximized when marginal product of labour:

Production Possibilities Curve is also known as

Assume that when price is Rs 20, the quantity demanded is 15 units and when price is ns, the quantity demanded is 16 units. Based on this information what is the marginal revenue resulting from an increase in output from 15 units to 16 units?

For open -end classification, which of the following is the best measure of central tendency

When demand curve is Rectangular hyperbola, ED > 1.

If TU remains the same; MU may be negative or positive

Which one of the following statement is not a characteristic of monopolistic competition?

All of the following are characteristics of a monopoly except:

Suppose that the demand curve for the XYZ Co. slopes downward and to the right. We can conclude that

Price discrimination is one of the features of________

Pure oligopoly is based on the _________ products.

What is the shape of the demand curve faced by a firm under perfect competition?

For a price-taking firm

The firm in a perfectly competitive market is a price taker. This designation as a price taker is based on the assumption that______________.

A purely competitive firm's supply schedule in the short run is determined by_____________.

The term 'market'refers to a______________.

What is meant by profit?

What are the two methods for determination of producer's equilibrium?

Give meaning of producer's equilibrium

Suppose a firm is producing a level of output such that MR > MC. What should the firm do to maximise the profit?

Comment on the following statement: "Firms should maximize the difference between marginal revenue and marginal cost."

The supply of a good refers to:

Supply is the

Elasticity of supply is zero means

Elasticity of supply is greater than one when

In a very short period market:

Which one of the following cost curves is never 'U' shaped?

Which one of the following statements is an example of an "implicit cost"?

Which one of the following statements is true to the relationship among the average cost functions?

Which one of the following elements is not a determinant of the firm's cost function?

If marginal cost equals to average total cost,

The marginal, average, and total product curves encountered by the firm producing in the short run exhibit all of the following relationships except:

To economists, the main difference between short run and long run is that:

Diminishing returns occur:

Marginal product, mathematically, is the slope of the

Diminishing marginal returns for the first four units of a variable input is exhibited by the total product sequence:

In case of a straight line demand curve meeting the two axes, the price elasticity of demand at the midpoint of the line would be:

Identify the factor which generally keeps the price elasticity of demand for a good low

Identify the coefficient of price elasticity of demand when the percentage increase in the quantity of good demanded is smaller than the percentage fall in its price

The price elasticity of demand for hamburger is

The price elasticity of demand is defined as the responsiveness of:

All of the following items are determinants of demand except:

A movement along the demand curve for soft drinks is best described as:

When total demand for a commodity whose price has fallen increases, it is due to:

With a fall in the price of a commodity:

In case of Giffen goods, the demand curve will be:

Which of the shaded area in the diagrams below represent total utility?

The second glass of lemonade gives lesser satisfaction to a thirsty boy. This is a clear case of

The consumer is in equilibrium when the following condition is satisfied

When economists speak of the utility of a certain good, they are referring to________________.

If indifference curve is straight line downward sloping,

The central problem in economics is that of

An economy achieves "productive efficiency" when:

If the PPF is linear, i.e., a straight line, which one of the following statements is true?

Labour intensive technique is chosen in a

Which of the following is an assumption of Production Possibility Frontier? 

Which one of the following bundles of goods cannot be produced with the resources the economy currently has?

Which one of the following statements is a reason for the negative slope of PPF?

Which of the following is not a subject matter of microeconomics?

Which of the shaded area in the diagrams below represent total utility?

What does the area under the marginal utility curve depict?

Discuss the central problems of an economy

There is given the market price of a piece of goods, how does a consumer decides as to how many units of that piece of goods to buy

Given below is the cost schedule of a product produced by a firm. The market price per unit of the product at all levels of output is Rs 12 .Using Marginal Cost and Marginal Revenue approach, find out the level of equilibrium output. Give reasons for your answer.

Compare between perfect competition and monopolistic competition.

X and Y are complementary goods. The price of Y falls. Explain the chain of effects of this change in the market of X.

Discuss the subject matter of economics.

State the central problems of an economy.

What will be the impact of recently launched 'Clean India Mission' (Swachh Bharat Mission) on the Production Possibilities curve of the economy and why?

How is the law of diminishing marginal utility applied with regard to education/ knowledge?

What do you mean by complements? Give examples of two goods which are complements of each other.

What is a first step of a project?

Which of the following is a tool for presentation of data?

Which of the following is a tool for analysis of data?

'Limitation of study' mentions:

What do you mean by a statistical project?

What are uses of consumer price index?

Why do we need an index number?

Is the change in price reflected in price index number?

Explain the concept and uses of index numbers.

Define index number. Discuss various problems in the construction of index numbers.

Calculate the coefficient of correlation between the height of fathers in inches and (X) and their sons (Y).

Calculate correlation coefficient between X and Y and comment on their relationship.

Calculate correlation coefficient between X and Y and comment on their relationship.

Define the term correlation. What purpose does it solve?

How is correlation different from causation?

Find the median in the set of numbers given below:
62, 68, 53, 57, 20, 30, 32, 45, 72, 77, 81

The hourly wages of 7 workers are 19, 21, 32, 45, 60, 65, 70. Find the median wages.

Find the Lower and Upper Quartile in the set of numbers given below:
62, 68, 53, 57, 20, 30, 32, 45, 72, 77, 81

Calculate Q₁ and Q₃ from the following data set.

From the data given below, find Q₁ and Q₃.

Calculate the mean deviation about mean and standard deviation for the following distribution.

The sum of 10 values is 100 and the sum of their squares is 1090. Find the coefficient of variation.

The yield of wheat and rice per acre for4 10 districts of a state is as under:

Calculate for each crop
(i) Range
(ii) Q.D.
(iii) Mean deviation about mean
(iv) Mean deviation about median
(v) Standard deviation
(vi) Which crop has greater variation?
(vii) Compare the values of different measures for each crop.

A batsman is to be selected for a cricket team. The choice is between X and Y on the basis of their five previous scores which are:

To check the quality of two brands of light bulbs, their life in burning hours was estimated as under for 100bulbs of each brand.

Which brand gives higher life?
Which brand is more dependable?

The following table gives the monthly income of 10 employees in an office.
Income (in Rs): 1780, 1760, 1690, 1750, 1840, 1920, 1100, 1810, 1050, 1950. Calculate the A.M.

From the following data of the marks obtained by 60 students of a class.

From the following data of the marks obtained by 60 students of a class. Find mean using step deviation method​​​​​​​​​​​​​​​​​​​​​

Find the average of the following data:

Calculate Mean from the data given below using step deviation method:​​​​​​​

Prepare Line Frequency Graph from the data given below:

We have the following data on pocket money received by students on a particular day.

(a) Obtain a frequency distribution using class intervals: 0-10, 10-20 and so on.
(b) Draw a frequency polygon
(c) What percent of students get pocket money less than ~ 20 and what per cent of students get more than Rs.60?

From the data given below, find median graphically.

From the data given below, plot a time series graph.

Present the following figures on a graph.

Draw a simple bar diagram.

Draw a simple bar diagram

From the data given below, draw a multiple bar diagram.​​​​​​​​​​​​​​

Draw a suitable bar diagram to present following data:

From the data given below, draw a multiple bar diagram.
Unemployment Rates (2004per 1000)

Prepare a blank table showing the following particulars with respect to faculty members of a university, classified according to:
Faculty: arts, science, and commerce
Age group: 25-40, above 40
Sex: male and female

In a class there are 50 students of whom 40% are males. 30% students got first division, 20% got II division, 40% got III division and 10% failed. Among girls 40% got first division, 30% II division, 30% III division and none failed. 

Out of a total number of 5,000 people who applied for a job, 2,950 were males out of total applicants, 3,500 were of already working and others were unemployed. The numbers of male applicants who belong to Unemployed category were 725.

A sample study was conducted to know about smoking walk habits of people of two cities. Following data were obtained.

Tabulate the above data.

What is tabulation? Differentiate between tabulation and classification

Prepare a discrete frequency distribution of shoe size of your class XI students.

Convert the series given below into exclusive series.

A survey revealed that daily expenditure of 30 families:
Daily Expenditure (Rs)

Present these data in a continuous series using the following class intervals. 10-14,15-19, 20-24, 25-29, 30-34,35-39.

Convert the following simple frequency distribution into cumulative frequency distribution.

Change the following cumulative frequency distributions into normal frequency distributions.

Difference between primary and secondary data is of degree.

What is a statistical enquiry? What are the steps in collection of data?

What are primary data? Mention different methods of collecting primary data. Explain anyone in detail.

What is secondary data? Explain different sources of secondary data.

Discuss meaning, merits and demerits of telephonic interview and questionnaires filed through enumerators.

Describe the features of statistics in plural sense.

Describe various stages of statistics ad the tools used in it.

Discuss some of the limitations of statistics.

Explain various functions of statistics.

Discuss the importance of Statistics in Economics.

'Economics is a study of wealth.' Discuss.

Critically analyze welfare definition of economics.

Problem of choice is unavoidable in the ordinary business of life. How?

Why do we need to study Economics?

Name the definition which has got maximum acceptability. Give this definition. Critically evaluate it.

What will happen if the price prevailing in the market is
(i) Above the equilibrium price?
(ii) Below the equilibrium price?

How are equilibrium price and quantity affected when income of the consumers.
(i) Increase? (ii) Decrease?

Using supply and demand curves, show how an increase in the price of shoes affects the price of a pair of socks and the number of pairs of socks bought and sold.

If at a given price of the commodity there is excess supply, how will the equilibrium price be reached? Explain with the help of a diagram.

Market for a good is in equilibrium. There is increase in supply for this goods. Explain the chain of effects of this change. Use diagram.

Explain why the demand curve facing a firm under monopolistic competition is negatively sloped?

What is the value of MR when the demand curve is elastic?

List the three different ways in which oligopoly firms may behave.

What is meant by prices being rigid? How can oligopoly behaviour lead to such an outcome?

Why AR curve (demand curve) under monopolistic competition is more elastic than AR curve under monopoly?

Explain features of perfect knowledge about the market.

Why is AR curve of a firm under perfect competition parallel to X-axis?

What is a competitive market? Briefly describe a type of market that is not perfectly competitive

Explain feature (implication) of 'large number of sellers and buyers' in perfect competition.

Explain the implications of large number of sellers in a perfectly competitive market.

What conditions must hold if a profit-maximizing firm produces positive output in a competitive market?

Explain the producer's equilibrium with MR/MC approach (when Price remains constant with the rise in output).

Explain the conditions of a producer's equilibrium in terms of marginal cost and marginal revenue. Use diagram

Elaborate the implication of the conditions of equilibrium of a firm

Explain why will a producer not be in equilibrium if the conditions of equilibrium are not met.

Define total revenue.

Define marginal revenue.

When TR falls, what happens to MR?

What is the behaviour of average revenue in a market in which a firm can sell more only by lowering the price?

When is price (AR) different from MR?

Consider a market with two firms. In the following table, columns labelled as SS₁ and SS₂ give the supply schedules of firm 1 and firm 2 respectively. Compute the market supply schedule.

How does technological progress affect the supply curve of a firm?

How does an increase in price of an input affect the supply curve of a firm?

What does the price elasticity of supply mean? How do we measure it?

What is the supply curve of a firm in the short run?

What will happen if the price prevailing in the market is
(i) Above the equilibrium price?
(ii) Below the equilibrium price?

How are equilibrium price and quantity affected when income of the consumers.
(i) Increase? (ii) Decrease?

Using supply and demand curves, show how an increase in the price of shoes affects the price of a pair of socks and the number of pairs of socks bought and sold.

Suppose the demand and supply curves of salt are given by:
\({ q }^{ D }\)=1,000 - P
\({ q }^{ S }\)=700 + 2P
(i) Find the equilibrium price and quantity.
(ii) Now suppose that the price of an input used to produce salt has increased so that the new supply curve is \({ q }^{ S }\) = 400 + 2p. How does the equilibrium price and quantity change? Does the change conform to your expectation?
(iii) Suppose the government has imposed a tax of Rs.3 per unit on sale of salt. How does it affect the equilibrium price and quantity?

How price and quantity are determined in the market when number of firms are fixed?

From the data given below, find median.

Find the Lower and Upper Quartile in the set of numbers given below:
62, 68, 53, 57, 20, 30, 32, 45, 72, 77, 81

From the data given below, find Q₁ and Q₃.

From the data given below, find Q₁ and Q₃.

It is known that median of a series is 41 and total frequencies are 82. Find the missing frequency and seventh decile and 90^th percentile.

Discuss merits and demerits of mean deviation.

What are the properties of standard deviation Use illustrations to explain any one.

Discuss merits and demerits of standard deviation.

Calculate the mean deviation and coefficient of mean deviation of the following distribution using mean and median.
9, 3, 8, 8, 9, 8, 9, 18

Calculate the mean deviation and coefficient of mean deviation of the following distribution using mean:

The following table shows the total cost schedule of a firm. What is the total fixed cost schedule of this firm? Calculate the TVC, AFC, AVC, SAC and SMC schedules of the firm.

The following table gives the total cost schedule of a firm. It Is also given that the average fixed cost at 4 units of output is Rs. 5. Find the TVC, TFC. AVC, AFC, SAC and SMC schedules of the firm for the corresponding values of output.

A firm's SMC schedule is shown in the following table. The total fixed cost of the firm is Rs. 100 Find the TVC, TC,  AVC and SAC schedules of the firm.

The total fixed cost of a firm is Rs.12. Given below is its marginal cost schedule. Calculate total cost and average variable cost for each given level of output.

Calculate TC and AVC of a firm at each given level of output from its cost schedule.

What conditions must hold if a profit-maximizing firm produces positive output in a competitive market?

Explain the producer's equilibrium with MR/MC approach (when Price remains constant with the rise in output).

Explain the conditions of a producer's equilibrium in terms of marginal cost and marginal revenue. Use diagram

Why is the equality between marginal cost and marginal revenue necessary for a firm to be in equilibrium? Is it sufficient to ensure equilibrium? Explain.

Elaborate the implication of the conditions of equilibrium of a firm

Calculate the coefficient of correlation between the height of fathers in inches and (X) and their sons (Y).

Calculate correlation coefficient between X and Y and comment on their relationship.

Calculate correlation coefficient between X and Y and comment on their relationship.

Define the term correlation. What purpose does it solve?

How is correlation different from causation?

Prepare a discrete frequency distribution of shoe size of your class XI students.

Convert the series given below into exclusive series.

Define classification. What are objectives of classification?

Explain different ways of classifying data.

Explain important terms related to a frequency distribution.

Explain consumer's equilibrium in case of a single commodity with the help of a utility schedule.

Using indifference curve approach, explain the conditions of consumer's equilibrium.

Why is the consumer in equilibrium when he buys only that combination of the two goods that is shown at the point of tangency of the budget line with an indifference curve? Explain

A consumer consumes only two goods. Explain the conditions that need to be satisfied for the consumer to be in equilibrium under indifference curve analysis.

Show diagrammatically the conditions for consumer's equilibrium, in Hicksian analysis of demand

Calculate price index by taking previous year as base year for the current year.

From the data given below, calculate price index number for 2010 with 2003 as base year by:
(a) Laspeyre's Method
(b) Paasche's Method
(c) Fisher's Method

What are the desirable properties of the base period?

Why is it essential to have different CPI for different categories of consumers?

What does a consumer price index for industrial workers measure?

Differentiate between correlation and causation.

What do you mean by positive and negative correlation?

What do you mean by linear and non linear correlation?

What is the difference between simple, partial and multiple correlation?

Mention the mathematical properties of correlation.

Calculate range and coefficient of range from the data given below:

Calculate range and coefficient of range from the data given below:

From the data given below, find Quartile Deviation and coefficient of Q.D.

What is dispersion? What is the difference between an average and dispersion?

Differentiate between absolute and relative measures of dispersion.

Represent the following data by means of a Histogram

Given below is daily expenditure of 30 families.

Present these data in a continuous series using the following class intervals. 10-14,15-19,20-24, 25-29, 30-34,35-39. Then draw a frequency polygon from it.

Exhibit the data given blow with the help of a time series graph.

What kind of diagrams are more effective in representing the following?
(a) Monthly Rainfall in a year
(b) Composition of population of Delhi by Religion
(c) Components of cost in a factory

Suppose you want to emphasize the increase in the share of urban nonworkers and lower level of urbanization in India as shown in the example given below. How would you do it in a tabular form?
Distribution of 542 respondents by their age in an election stud in Bihar

Source: Assembly Election Patna Central Constituency, 2005A. N. Sinha Institute of Social Studies Patna

From the following data of the marks obtained by 60 students of a class.

From the data given below, find arithmetic mean and also show that
\(\sum _{ i=1 }^{ n }{ ({ x }_{ i }-\overline { x } ) } \) = 0

From the following data of the marks obtained by 60 students of a class mean was found to be 41 Show that \(\sum _{ i=1 }^{ n }{ F({ x }_{ i }-\overline { x } ) } =0\)

One sample has a mean of 6 and a second sample has a mean of 12. The two samples are combined into a single set of scores.
(a) What is the mean for the combined set if both of the original samples have n = 5 scores?
(b) What is the mean for the combined set if the first sample has n = 4 score and the second sample has n = 8?

Find out combined mean from the following data.

From the wholesale price indices of six years given below, find median of the wholesale price indices.

Find median from the data given below:

From the following data of the marks obtained by 60 students of a class,find median.

Calculate median from the following data set.

From the data given below, find median.

Draw a simple bar diagram.

From the data given below, draw a multiple bar diagram.​​​​​​​​​​​​​​

From the data given below, draw a multiple bar diagram.
Unemployment Rates (2004 per 1000)

Draw a suitable bar diagram to present following data:

From the data given below, draw a sub divided bar diagram.
Worker Population Ratio in India 1999-2000

Prepare a blank table showing the following particulars with respect to faculty members of a university, classified according to:
Faculty: arts, science, and commerce
Age group: 25-40, above 40
Sex: male and female

A report on sugar mill reported that sugar production during the first fortnight in December 2010 was about 3, 87,000 tones as against 3, 40,000 during the same fortnight last year. The Off-take of sugar from factories during the first fortnight of December,2001 was 2, 83,000 tonnes for internal consumption and 41,000 for exports as against 1, 54,000 tonnes for internal consumption and 24,000 tonnes for exports last year.

A sample study was conducted to know about smoking walk habits of people of two cities. Following data were obtained.

Tabulate the above data.

What is tabulation? Differentiate between tabulation and classification

What are the essentials of a good statistical table?

Find class intervals of following series.

Can there be any advantage in classifying things? Explain with an example from your daily life.

Use the data given below that relate to monthly household expenditure (in Rs) on food of 50 households and answer the questions.

(i) Obtain the range of monthly household expenditure on food.
(ii) Divide the range into appropriate number of class intervals and obtain the frequency distribution of expenditure.
(iii) Find the number of households whose monthly expenditure on food is:

Do you agree that classified data is better than raw data?

What is loss of information in classified data?

Frame at least four appropriate multiple choice options for following questions
(i) Which of the following is most important when you buy a new dress?
(ii) How often do you use computers?
(iii) Which of the Newspapers do you read regularly?
(iv) Rise in Price of petrol is justified (v) What is the monthly income of your family?

Frame five two way questions with Yes or No Options

What do you think about the following questions? Do you find any problem with any of these questions? If Yes,how?
(i) How far do you live from the closest market?
(ii) If Plastic Bags are only 5% of our garbage, should these be banned?
(iii) Would not you be opposed to increase in price of petrol?
(iv) (a) Do you agree with the use of fertilizers?
(b) Do you use fertilizers in your field?
(c) What is the yield per hectare in your field?

You want to research on popularity of vegetable Atta noodles among children. Design a questionnaire for collecting this information.

In a village of 200 farms, a study was conducted to find the cropping pattern. Out of 50 farms surveyed, 50% grew only wheat. Identify the population and sample.

You have unlimited wants and limited resources to satisfy them. Explain by giving examples

Give meaning of statistics.

Define Statistics in singular sense.

Define Statistics in Plural Sense.

Using examples differentiate between quantitative and qualitative data.

'Economics is a study of wealth.' Discuss.

Critically analyze welfare definition of economics.

Problem of choice is unavoidable in the ordinary business of life. How?

Why do we need to study Economics?

Is economics an Art or Science? Give reasons.

Under what condition increase in demand would not make any effect on equilibrium price?

Under what condition increase in demand would not make any effect on equilibrium quantity?

Give reasons for the following statements:
(i) A decrease in supply will not result in a change in equilibrium quantity if the demand for a commodity is perfectly inelastic
(ii)  An decrease in supply will not result in a change in equilibrium price if the demand for a commodity is perfectly elastic.

Explain the effects of a 'price ceiling'.

Explain the effects of a 'price floor'.

Explain why the demand curve facing a firm under monopolistic competition is negatively sloped?

What is the reason for the long run equilibrium of a firm in monopolistic competition to be associated with zero profit?

What is the value of MR when the demand curve is elastic?

List the three different ways in which oligopoly firms may behave.

What is meant by prices being rigid? How can oligopoly behaviour lead to such an outcome?

What are the Characteristics of a perfectly competitive market?

What is price line under perfect competition?

What is the relation between market price and average revenue of a price taking firm (i.e. perfectly competitive firm)?

Explain feature of homogeneous product.

Explain the implication of homogeneous product.

Compute the total revenue, marginal revenue and average revenue schedules in following table. Market price of each unit of goods is Rs 10.

Whatwouldbetheshapeofthe demand curve so that the total revenue curve is
(a) A positively sloped straight line passing through the origin?
(b) A horizontal line?

Comment on the shape of the MR curve in case the TR curve is a
(i) positively sloped straight line,
(ii) horizontal straight line.

Calculate TR and MR from the following data.

Complete the following table.

There are three identical firms in a market. The following table shows the supply schedule of firm 1. Compute the market supply schedule.

How does an increase in price of an input affect the supply curve of a firm?

How does an increase in the number of firms in a market affect the market supply curve?

What does the price elasticity of supply mean? How do we measure it?

What is the supply curve of a firm in the short run?

What are total fixed cost, total variable cost and total cost of a firm? How are they related?

What are the average fixed cost, average variable cost and average cost of a firm? How are they related?

Why does SMC curve cut AVC curve at the minimum point of AVC curve?

At which point does the SMC curve cut the SAC curve? Give reason in support of your answer.

What is meant by variable (prime) cost of a firm? Give examples.

State the behaviour of marginal product in the law of variable proportions. Explain the causes of this behaviour.

Explain the law of variable proportion with the help of total product and marginal product curves.

State the different phases of changes in Total Product and Marginal Product in the Law of Variable Proportions. Also show the same in a single diagram

Giving reasons, explain the law of variable proportion.

What are the different phases in the Law of Variable Proportions in terms of marginal product? Give reason behind each phase. Use diagram.

The following table shows the total cost schedule of a firm. What is the total fixed cost schedule of this firm? Calculate the TVC, AFC, AVC, SAC and SMC schedules of the firm.

The following table gives the total cost schedule of a firm. It Is also given that the average fixed cost at 4 units of output is Rs. 5. Find the TVC, TFC. AVC, AFC, SAC and SMC schedules of the firm for the corresponding values of output.

A firm's SMC schedule is shown in the following table. The total fixed cost of the firm is Rs. 100 Find the TVC, TC,  AVC and SAC schedules of the firm.

The total fixed cost of a firm is Rs.12. Given below is its marginal cost schedule. Calculate total cost and average variable cost for each given level of output.

Calculate TC and AVC of a firm at each given level of output from its cost schedule.

Explain price elasticity of demand.

Consider the demand curve D(P) = 10 - 3p. What is the elasticity at price 5/3?

Suppose the price elasticity of demand for a good is -0.2. If there is a 5% increase in the price of the good, by what percentage will the demand for the good go down?

Differentiate between perfectly elastic and perfectly inelastic demand

A consumer spends Rs 80 on a commodity when price is Rs 1 per unit. If the price increases by Rs 1, his expenditure becomes Rs 96. Comment on PED.

Suppose there are 20 consumers for a good and they have identical demand functions:
(p) = 10 - 3p for any price less than \(\frac { 10 }{ 3 } \) and d₁(p) = 0 at any price greater than or equal to \(\frac { 10 }{ 3 } \) What is the 3 market demand function?

What do you mean by substitutes? Give examples of two goods which are substitutes of each other.

What do you mean by complements? Give examples of two goods which are complements of each other.

Does a fall in income have the same effect on demand for the given commodity?

Differentiate between Normal Goods and Inferior Goods.

Explain why an Indifference curve has a negative slope (i.e. IC slope downwards to the right).

"Law of diminishing marginal utility will operate even if consumption takes place in intervals." Defend or refute.

Define market rate of exchange.

Explain consumer's equilibrium in case of a single commodity with the help of a utility schedule.

Using indifference curve approach, explain the conditions of consumer's equilibrium.

Distinguish between microeconomics and macroeconomics.

"An economy always produces on but not inside PPC. Defend or refute

Explain the meaning of opportunity cost with the help of production possibility schedule.

Production in an economy is below to its potentiality due to unemployment. Government starts employment generation schemes. Explain its effects by using production possibility curve.

Using a diagram explain what will happen to the PPC of Bihar if the river Kosi causes widespread floods?

The following table gives the total product schedule of labour. Find the corresponding average product and marginal product schedules of labour. 

The following table gives the marginal product schedule of labour. It is also given that total product of labour is zero at zero level of employment. Calculate the total and average product schedules of labour.

Find out the maximum possible output for a firm with zero unit of Land 10 units of K when its production function is Q = SL + 2K

Differentiate between Short Period production and Long Period production function.

Explain the relationship between Marginal product and Average Product.

Explain price elasticity of demand.

Consider the demand for a good. At price Rs 4, the demand for the good is 25 units. Suppose price of the good increases to Rs 5, and as a result, the demand for the good falls to 20 units. Calculate the price elasticity?

Consider the demand curve D(P) = 10 - 3p. What is the elasticity at price 5/3?

Suppose the price elasticity of demand for a good is -0.2. If there is a 5% increase in the price of the good, by what percentage will the demand for the good go down?

The demand for a goods falls to 500 units in response to rise in price by Rs 10. If the original demand was 600 units at the price of Rs 30, calculate price elasticity of demand.

What do you mean by complements? Give examples of two goods which are complements of each other.

What is the relation between good x and good y in each case, if with a fall in price of x demand for good y (i) rises and (ii) falls? Give reason.

Differentiate between Normal Goods and Inferior Goods.

Differentiate between substitute goods and complementary goods.

Explain law of demand with the help of a demand schedule.

A consumer wants to consume two goods. The prices of the two goods are Rs.4 and Rs. 5 respectively. The consumer's income is Rs.20.
(i) Write down the equation of the budget line.
(ii) How much quantity of good 1 can the consumer consume if she spends her entire income on that good?
(iii) How much of good 2 can she consume if she spends her entire income on that good?
(iv) What is the slope of the budget line?

Suppose a consumer wants to consume two goods which are available only in integer units. The two goods are equally priced at Rs.10 and the consumer's income is Rs.40.
(i) Write down all the bundles that are available to the consumer.
(ii) Among the bundles that are available to the consumer's. Identify those which cost her exactly 40.

Explain with diagram, the relationship between TU and MU.

How many chocolates will a consumer have, if they are available free of cost?

"Total Utility remains the same, whether Marginal Utility is positive or negative". Defend or refute.

Discuss the subject matter of economics.

Distinguish between microeconomics and macroeconomics.

Why do all economies have similar central problems?

State the central problems of an economy.

Does production take place only on PPC?

An index number which accounts for the relative importance of the items is known as

In most of the weighted index numbers, weight pertains to:

A consumer price index measures changes in:

The item having highest weight in consumer price index of industrial workers is

In general, inflation is calculated by using:

The unit of correlation coefficient between height in feet and weight in kg is

The range of simple correlation coefficient is:

If r_xy is positive the relation X and Y is of the type:

If r_xy is zero, the variable X and Y are

If precisely measured data are available the simple correlation coefficient is

In the previous question, Calculate the relative measures of variation and indicate the value which in your opinion, is more reliable.

The most suitable average for qualitative measurement is:

Which average is most affected by extreme values?

The algebraic sum of deviations of a set of n values from arithmetic mean is:

The sum of deviation of items from median is zero.

An average alone is not enough to compare series.

From the data given below, find arithmetic mean and also show that
\(\sum _{ i=1 }^{ n }{ ({ x }_{ i }-\overline { x } ) } \) = 0

From the following data of the marks obtained by 60 students of a class mean was found to be 41 Show that \(\sum _{ i=1 }^{ n }{ F({ x }_{ i }-\overline { x } ) } =0\)

One sample has a mean of 6 and a second sample has a mean of 12. The two samples are combined into a single set of scores.
(a) What is the mean for the combined set if both of the original samples have n = 5 scores?
(b) What is the mean for the combined set if the first sample has n = 4 score and the second sample has n = 8?

There are 80 students in a class whose average marks in Statistics are 65. There are two sections in the class. In one section there are fifty students whose average marks are 62. Find the average marks of other section.

The average income of 20 employees in a factory was Rs 100. Later on it was discovered that the wages of two employees were wrongly recorded as 120 and 80 in place of 40 and 60. Find the correct mean.

Bar diagram is a:

Data represented through a histogram can help in finding graphically the:

Ogive can be helpful in locating graphically the:

Data represented through arithmetic line graph help in understanding:

Width of the bars in a bar diagram need not be equal.

Prepare a blank table showing the following particulars with respect to faculty members of a university, classified according to:
Faculty: arts, science, and commerce
Age group: 25-40, above 40
Sex: male and female

In a class there are 50 students of whom 40% are males. 30% students got first division, 20% got II division, 40% got III division and 10% failed. Among girls 40% got first division, 30% II division, 30% III division and none failed. 

Out of a total number of 5,000 people who applied for a job, 2,950 were males out of total applicants, 3,500 were of already working and others were unemployed. The numbers of male applicants who belong to Unemployed category were 725.

A report on sugar mill reported that sugar production during the first fortnight in December 2010 was about 3, 87,000 tones as against 3, 40,000 during the same fortnight last year. The Off-take of sugar from factories during the first fortnight of December,2001 was 2, 83,000 tonnes for internal consumption and 41,000 for exports as against 1, 54,000 tonnes for internal consumption and 24,000 tonnes for exports last year.

A sample study was conducted to know about smoking walk habits of people of two cities. Following data were obtained.

Tabulate the above data.

Which of the following alternatives is true?
The class MidPoint is equal to

Which of the following alternatives is true?
The frequency distribution of two variable is known as:

Which of the following alternatives is true?
Statistical Calculations in classified data are based on:

Which of the following alternatives is true?
Under exclusive method:

Which of the following alternatives is true?
Range is the:

There are many sources of data

Telephone survey is most important when population is spread over a large area.

Data collected by investigator is called secondary data.

There is some bias involved in non random selection of data.

Non Sampling Errors can be minimized by taking large samples.

Statistics can only deal with quantitative data.

Statistics solves economic problems

Statistics is of no use to Economics without data.

Make a list of activities that constitute ordinary business of life. Are these Economic Activities?

The Government and Policy makers use statistical data to formulate suitable policies of Economics Development. Illustrate with two examples.

Explain market equilibrium.

When do we say there is excess demand for a commodity in the market?

When do you say there is excess supply for a commodity in the market?

Explain the effects of 'maximum price ceiling' on the market of a good. Use diagram.

What are the effects of 'price-floor' (minimum price ceiling) on the market of a good? Use diagram.

Willmonopolistfirmcontinueto produce in the short run if a loss is incurred at the best short run level of output?

Explain why the demand curve facing a firm under monopolistic competition is negatively sloped?

What is the reason for the long run equilibrium of a firm in monopolistic competition to be associated with zero profit?

What is the value of MR when the demand curve is elastic?

List the three different ways in which oligopoly firms may behave.

Will a profit-maximizing firm in a competitive market ever produce a positive level of output in the range where the marginal cost is falling? Give an explanation.

The following table shows the total revenue and total cost schedules of a competitive firm. Calculate the profit at each output level. Determine also the market price of the goods.

What conditions must hold if a profit-maximizing firm produces positive output in a competitive market?

Explain the producer's equilibrium with MR/MC approach (when Price remains constant with the rise in output).

Explain the conditions of a producer's equilibrium in terms of marginal cost and marginal revenue. Use diagram

How are the total revenue of a firm, market price, and the quantity sold by the firm related to each other?

Compute the total revenue, marginal revenue and average revenue schedules in following table. Market price of each unit of goods is Rs 10.

Whatwouldbetheshapeofthe demand curve so that the total revenue curve is
(a) A positively sloped straight line passing through the origin?
(b) A horizontal line?

Comment on the shape of the MR curve in case the TR curve is a
(i) positively sloped straight line,
(ii) horizontal straight line.

From the schedule provided below calculate the total revenue, demand curve and the price elasticity of demand:

Consider a market with two firms. The following table shows the supply schedules of two firms: the SS₁ column gives supply schedule of firm 1 and SS₂ column gives supply schedule of firm 2. Compute the market supply schedule.

Consider a market with two firms. In the following table, columns labelled as SS₁ and SS₂ give the supply schedules of firm 1 and firm 2 respectively. Compute the market supply schedule.

There are three identical firms in a market. The following table shows the supply schedule of firm 1. Compute the market supply schedule.

How does technological progress affect the supply curve of a firm?

How does the imposition of a unit tax affect the supply curve of a firm?

Briefly explain the concept of the cost function.

Can there be some fixed cost in the long run? If not, why?

What do the short run marginal cost, average variable cost and short run average cost curves look like?

What are total fixed cost, total variable cost and total cost of a firm? How are they related?

What does the average fixed cost curve look like? Why does it look so?

What is the total product of an input?

What is the average product of an input?

What is the marginal product of an input?

What is the law of diminishing marginal product?

What is the law of variable proportions?

The price elasticity of demand is defined as the responsiveness of:

Which one of the following is not an assumption of the theory of demand based on analysis of indifference curve?

Marginal utility of the first unit is equal to Total Utility

Suppose there are 20 consumers for a good and they have identical demand functions:
(p) = 10 - 3p for any price less than \(\frac { 10 }{ 3 } \) and d₁(p) = 0 at any price greater than or equal to \(\frac { 10 }{ 3 } \) What is the 3 market demand function?

What policy initiatives can the government undertake to increase the demand of milk in the country? Mention anyone.

Suppose the price elasticity of demand for a good is -0.2. How will the expenditure on the good be affected if there is a 10% increase in the price of the good?

Suppose, there was 4% decrease in the price of a good and as a result, the expenditure on the goods increased by 2%. What can you say about the elasticity of demand?

Explain price elasticity of demand.

Consider the demand for a good. At price Rs 4, the demand for the good is 25 units. Suppose price of the good increases to Rs 5, and as a result, the demand for the good falls to 20 units. Calculate the price elasticity?

Consider the demand curve D(P) = 10 - 3p. What is the elasticity at price 5/3?

What do you mean by the budget set of a consumer?

What is Budget Line?

Explain why budget line is downward sloping?

Suppose a consumer can afford to buy 6 units of good 1 and 8 units of good 2 if she spends her entire income. The prices of the two goods are Rs.6 and Rs.8 respectively. How much is the consumer's income? 

A consumer wants to consume two goods. The prices of the two goods are Rs.4 and Rs. 5 respectively. The consumer's income is Rs.20.
(i) Write down the equation of the budget line.
(ii) How much quantity of good 1 can the consumer consume if she spends her entire income on that good?
(iii) How much of good 2 can she consume if she spends her entire income on that good?
(iv) What is the slope of the budget line?
How does the budget line change if the consumer's income increases to Rs.40 but the prices remain unchanged?

A consumer wants to consume two goods. The prices of the two goods are Rs.4 and Rs. 5 respectively. The consumer's income is Rs.20.
(i) Write down the equation of the budget line.
(ii) How much quantity of good 1 can the consumer consume if she spends her entire income on that good?
(iii) How much of good 2 can she consume if she spends her entire income on that good?
(iv) What is the slope of the budget line?
How does the budget line change if the price of good 2 decreases by a rupee but the price of good 1 and the consumer's income remain unchanged?

A consumer wants to consume two goods. The prices of the two goods are Rs.4 and Rs. 5 respectively. The consumer's income is Rs.20.
(i) Write down the equation of the budget line.
(ii) How much quantity of good 1 can the consumer consume if she spends her entire income on that good?
(iii) How much of good 2 can she consume if she spends her entire income on that good?
(iv) What is the slope of the budget line?
What happens to the budget set if both the prices as well as the income double?

Suppose a consumer's preferences are monotonic. What can you say about her preference-ranking over the bundles (10, 10), (10, 9), (9, 9).

Suppose your friend is indifferent to the bundles (5, 6) and (6, 6). Are the preferences of your friend monotonic?

Why is budget line negatively sloped?

If MC is more than MR at a particular level of output, how will the producer react to maximize the profits________________

When MC is equal to MR, while maximizing profit, then

What is the relation between price and marginal cost at equilibrium, when price falls with the rise in output.

What is the relation between price and marginal cost at equilibrium, when price remains constant with the rise in output.

A producer is in equilibrium when total cost and total revenue are equal.

Assume that when price is Rs 20, the quantity demanded is 9 units, and when price is Rs19 the quantity demanded is 10 units. Based on this information what is the marginal revenue resulting from an increase in output from 9 units to 10 units.

Assume that when price is Rs 20, the quantity demanded is 15 units and when price is ns, the quantity demanded is 16 units. Based on this information what is the marginal revenue resulting from an increase in output from 15 units to 16 units?

Total revenue =

Average revenue is the revenue earned_____________.

AR can be symbolically written as:

A vertical supply curve parallel to Y-axis implies that the elasticity of supply is:

The supply of a good refers to:

An increase in the supply of a good is caused by:

Elasticity of supply refers to the degree of responsiveness of supply of a good to changes in its:

A horizontal supply curve parallel to the quantity axis implies that the elasticity of supply is:

Which cost increases continuously with the increase in production?

Which one of the following cost curves is never 'U' shaped?

Which one of the following statements is an example of "explicit cost"?

Which one of the following statements is an example of an "implicit cost"?

Marginal cost is defined as:

The marginal product of a variable input is best described as:

To economists, the main difference between short run and long run is that:

Diminishing returns occur:

The law of variable proportions is drawn under all of the assumptions men tioned below except the assumption that:

Diminishing marginal returns for the first four units of a variable input is exhibited by the total product sequence:

In case of a straight line demand curve meeting the two axes, the price elasticity of demand at the midpoint of the line would be:

Identify the factor which generally keeps the price elasticity of demand for a good low

Identify the coefficient of price elasticity of demand when the percentage increase in the quantity of good demanded is smaller than the percentage fall in its price

The price elasticity of demand for hamburger is

The price elasticity of demand is defined as the responsiveness of:

Demand for a commodity refers to:

Contraction of demand is the result of:

All but one of the following are assumed to remain the same while drawing an individual's demand curve for a commodity. Which one is it?

Which of the following pairs of goods is an example of substitutes?

The Law of Demand, assuming other things to remain constant, establishes the relationship between:

Total utility is maximum when

What does the area under the marginal utility curve depict?

An indifference curve slopes down towards right since more of one commodity and less of another result in______________.

When economists speak of the utility of a certain good, they are referring to________________.

If X and Y are two commodities,  indifference curve shows____________.

The law of scarcity

The central problem in economics is that of

If the PPF is linear, i.e., a straight line, which one of the following statements is true?

Capital intensive technique is chosen in a  

Labour intensive technique is chosen in a

Which one of the following statement is not a characteristic of monopolistic competition?

Monopolistic competition differs from perfect competition primarily because______

Under which one of the following forms of market structure does a firm have no control over the price of its product?

Price discrimination is one of the features of________

Average revenue and price are always equal under:

What is the shape of the demand curve faced by a firm under perfect competition?

Under perfect competition a firm is_______________.

For a price-taking firm

Suppose that a sole proprietorship is earning total revenues of  Rs.1,00,000 and is incurring explicit costs of Rs.75,000. If the owner could work for another company for Rs.30,000 a year, we would conclude that__________________.

The term 'market'refers to a______________.

If MC is more than MR at a particular level of output, how will the producer react to maximize the profits________________

What is the relation between price and marginal cost at equilibrium, when price falls with the rise in output.

What is the relation between price and marginal cost at equilibrium, when price remains constant with the rise in output.

A producer is in equilibrium when total cost and total revenue are equal.

If marginal revenue is equal to the total cost, producer is in equilibrium

Marginal Revenue is equal to:

Marginal revenue can be defined as the change in total revenue resulting from__________.

When price remains constant at all level of output, total revenue______.

How does TR change with output when MR is negative?

Average revenue curve is also known as:

A vertical supply curve parallel to Y-axis implies that the elasticity of supply is:

An increase in the supply of a good is caused by:

The quantity supplied of a piece of goods or service is the amount that

Elasticity of supply is measured by dividing the percentage change in quantity supplied of a good by ____________

If the quantity supplied is exactly equal to the relative change in price then the elasticity of supply is   

Which one of the following cost curves is never 'U' shaped?

Which one of the following statements is an example of "explicit cost"?

Marginal cost is defined as:

Which one of the following elements is not a determinant of the firm's cost function?

A firm's average fixed cost is Rs. 20 at 6 units of output. What will it be at 4 units of output?

The marginal product of a variable input is best described as:

To economists, the main difference between short run and long run is that:

Which one of the following statements is the best definition of production function?

The average product of labour is maximized when marginal product of labour:

The law of variable proportions is drawn under all of the assumptions men tioned below except the assumption that:

In case of a straight line demand curve meeting the two axes, the price elasticity of demand at the midpoint of the line would be:

Identify the factor which generally keeps the price elasticity of demand for a good low

The price elasticity of demand is defined as the responsiveness of:

Price elasticity of demand explains qualitative relationship between price and demand.

On a demand curve where it touches X-axis elasticity of demand is Infinity?

Demand for a commodity refers to:

Contraction of demand is the result of:

All but one of the following are assumed to remain the same while drawing an individual's demand curve for a commodity. Which one is it?

Which of the following pairs of goods is an example of substitutes?

The Law of Demand, assuming other things to remain constant, establishes the relationship between:

Total utility is maximum when

The consumer is in equilibrium at a point where the budget line___________.

An indifference curve slopes down towards right since more of one commodity and less of another result in______________.

The second glass of lemonade gives lesser satisfaction to a thirsty boy. This is a clear case of

The consumer is in equilibrium when the following condition is satisfied

The law of scarcity

The central problem in economics is that of

An economy achieves "productive efficiency" when:

Which of the following clearly represents a movement toward greater productive efficiency?

Which one of the following alternatives illustrate a decrease in unemployment using the PPF?