But we over here all have the luxury of building an entire curriculum from scratch using a set of themes as a foundation. Go ahead and find Economics Quiz Questions with Answers for Class 11 in PDF format. Can AP rise when MP starts declining?Ans. Market price is equal to marginal revenue (MR). For discussion join SSC GROUP and Railway Group.
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Increase in income from a unit of production is called Answer: Marginal cost5. The strategy of Rolling plan was adopted during the Prime Ministership of: [Railways 1994](a) Lal Bahadur Shastri (b) Indira Gandhi (c) Morarji Desai (d) Rajiv Gandhi20. (ix) Implication is that buyers differentiate products of firms various as different. (x) Implication is that buyers are fully aware of price in market and sellers of technique of production. The reaction will continue till are equal and consumer is in equilibrium.
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Ans. Planning in India derives its objectives from:(a) Fundamental Rights (b) Directive Principles of State policy (c) Fundamental Duties (d) Preamble8.
(iii) To prevent fraudulent and malpractices by balancing between self regulation of business and explanation statutory regulations. What do you mean by the demand of a commodity?a) Desire for the commodityb) Need for the commodityc) Quantity demanded of that commodityd) Quantity that consumers are able and willing to buy at various prices during any particular period of timeAnswer:- dQ6.
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Phase III: TP falls i. Q.
In which market MR may become zero or negative ?
(a) Monopoly
(b) Monopolistic Competition
(c) Both (a) and (b)
(d) Perfect CompetitionAnswer: (c) Both (a) and (b)Question 32. click to read more the following as fixed cost and variable cost:(i) Salary to manager of the company. \(\frac { P }{ ΔQ_s }\)Answer: (a) \(\frac { ΔQ_s/Q_s }{ ΔP/P }\)Question 66. 40Q.
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5. Ans. 18 respectively, at output of 10 units. it is not necessary that supply for an individual always varies directly with price. Differentiate between law of demand and price elasticity of demand. Returns to scale is related to Answer: Long term3.
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Here we have come up with a collection of 1500 questions from the Economics section in English which is going to be very useful for you. Give reasons.
When the proportionate change in the supply of goods is more than the proportionate change in its price, the elasticity of supply will be:
(a) Less than Unit
(b) Equal to Unit
(c) Greater than Unit
(d) InfiniteAnswer: (c) Greater than UnitQuestion 64. It also helps assimilate new content into their prior understanding of economics.
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State the conditions of consumers equilibrium in the Indifference Curve Analysis and explain the rationale behind these conditions. The case-based questions asked in the Economics question paper for class 11 can be formulated in 2 ways:As per the latest circular issued by CBSE on Assessment and Evaluation practices of the board for the session 2022-23, CBSE has clearly mentioned that competency-based questions including case studies will be different from subjective questions. Economics is not just about money; it is also about making correct choices, balancing useful content with the money, and improving an individual’s overall well-being. Then in this case it will be profitable for the firm to produce more. Ans. As a result, MRS increases and continue to rise till it becomes equal to the ratio of prices and the equilibrium is established.
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NOTE SEBI came into effect due to several irregularities and malpractices. It is on account of this product differentiation, firms have to incur huge selling costs to compete with other firms. The effect of the ceiling is that shortage, equal to A B (Q1Q2), is created, which may further lead to black marketing,Q. 10.
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Adam Smith is known as the father of Economics. Students can practice from our Chapter-wise Important questions for class 12 Commerce which certainly enables them in acquiring conceptual knowledge. These goods command price and are known as Economic Goods. Ans. The price elasticity of supply in the following cases will be:(i) Unitary elastic Supply(ii) Perfectly Inelastic Supply(iii) Perfectly Elastic SupplyQ. (v) Payment of rent of Postpaid connection of Mobile Phone.
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