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

If marginal cost equals to average total cost,

The supply of a good refers to:

Marginal Revenue is equal to:

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

The term 'market'refers to a______________.

Price discrimination is one of the features of________

With a given supply curve a decrease in demand causes

What implication(s) does resource scarcity has for the satisfaction of wants?

Universe in Statistics means:

Primary data is preferred over secondary data where:

A series showing the sets of all distinct values individually with their frequencies is known as

The headings of the rows given in the first column of a table are called:

Square is a:

Median of a distribution can be obtained from

Sum of square of the deviations about mean is

In a distribution, the value around which the items tend to be most heavily concentrated is called:

Coefficient of variation is

The range of simple correlation coefficient is:

If the prices of all commodities in a place have increased 1.25 times in comparison to the base period, the index number of prices of that place is now

'Limitation of study' mentions:

Discuss the subject matter of economics.

Derive the inverse relation between price of the good and its demand from single commodity equilibrium condition "marginal utility = price".

Demand for electricity has "increased". However, supply cannot be increased due to lack of resources. Explain how, in any two ways, demand for electricity can be "decreased".

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.

Complete the following table:

What is the behaviour of average fixed cost as output increases?

Firm 'A' produces both jeans and shirts. How will an increase in the price of jeans affect the supply curve of the shirts?

Calculate TR and MR from the following data.

"MC should be rising at the point of Producer's Equilibrium". Comment.

What are the Characteristics of a perfectly competitive market?

Draw a demand curve in different market situation and also compare its elasticity. of demand.

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

Differentiate between economic and non economic activities.

Statistical Methods are no substitute for common sense. Comment.

What is a statistical enquiry? Why is it conducted?

Distinguish between Absolute and relative frequencies

What are the essentials of a good statistical table?

Diagrams have a memorizing effect. Explain.

What are the general rules to construct a Time Series graph?

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 median.

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

Why is correlation preferred to covariance as a measure of association?

How would you select a base year if a normal period is not available?

What decisions must be taken prior to data collection

Discuss the central problems of an economy

State and explain the conditions of consumer's equilibrium in indifference curve analysis.

Explain the effect of the following on demand for a good:
(i) Rise in Income for Normal Goods.
(it) Rise in Income for Inferior Goods.

Explain the likely behaviour of Total Product and Marginal Product when for increasing production only one input is increased while all other inputs are kept constant.

Why does the difference between Average Total Cost and Average Variable Cost decrease with an increase in the level of output? Can these two be equal at some level of output? Explain.

Distinguish between change in quantity supplied and change in supply. Use diagram.

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

From the following table, find out the level of output at which the producer will be in equilibrium. Give reasons for your answer

"The rising portion of the SMC curve is the firm supply curve of competitive firm". Explain.

Compare between perfect competition and monopolistic competition.

Suppose price of a good is higher than equilibrium price. Explain changes that will establish equilibrium supply.

Any transaction which involves money is associated with Economics. Defend or refute. Justify your answer.

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

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

In a class of 45 students, survey was conducted to know the number of personal gadgets student is using. Following information was collected. Present this in the form of a discrete frequency distribution.

What are the essentials of a good statistical table? Using an imaginary example, indicate different parts of a table.

What guidelines will you keep in mind while constructing a diagram?

Explain merits and demerits of graphic presentation.

What are the requisites of an ideal average?

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

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

Why do we need an index number?

Which values are of utmost importance in making of a project?