D) there is difference between supply and stock

The properties of Karl Pearson’s Coefficient of Correlation are:

1. Karl Pearson’s Correlation coefficient r has no unit. It is a pure number. It means a unit of measurement is not a part of r. It is independent of the origin and scale.
2. The value of the correlation coefficient lies between {tex}- 1 \leq r \leq 1{/tex}. If the value of r lies outside this range, it indicates there is some error in the calculation.
3. A negative value of r indicates an inverse relation. A change in one variable is associated with change in the other variable in the opposite direction.
4. If r is positive it indicates a direct relation and the two variables move in the same direction.
5. The converse of the theorem,i.e.,r=0, is not true, that is uncorrelated variables and need not necessarily be independent. Uncorrelation between the variables X and Y simply imply the absence of a linear relationship between them.
6. Therefore, if the data is too large, step deviation method is used, which makes the calculation of correlation coefficient easy.

Inferential statistics use measurements from the sample of subjects in the experiment to compare the treatment groups and make generalizations about the larger population of subjects. There are many types of inferential statistics and each is appropriate for a specific research design and sample characteristics.

Reasonable accuracy: The mathematical conclusion must be accurate based on the purpose of the investigation, its nature, size and available resources.

Leftward shift of demand curve means decrease in demand. This is caused due to changes in any factor other than the price of its own commodity.

The leftward shift can occur due to the following reasons: - 

(i) Decrease in price of substitute good - When there is a decrease in the price of substitute goods, the consumers will start demanding more of the substitue good, as a result demand for our good falls. 

For eg. With decrease in price of substitute good (say coffee), demand for the given commodity (say tea) will decrease because the consumer will like to substitute tea for coffee as coffee has become cheaper.

(ii) Increase in Price of complementary good: When price of complementary good (say petrol) rises, the demand for the given commodity (say car) will fall.

(iii) Decrease in the income of the consumer: A fall in income of the consumer will lead to a decrease in demand as there is a direct relationship between income and demand.

(iv) Change in taste: When taste of the consumer shifts against the commodity due to change in fashion or climate the demand of the good falls.

(v) Expectation of future decrease in price: If the consumer expects a fall in the price of a particular commodity in the near future, then he would like to buy lesser quantity of the good.

Say, for example, at the price of $5 per hot dog, consumers buy two hot dogs per day; the quantity demanded is two. If vendors decide to increase the price of a hot dog to $6, then consumers only purchase one hot dog per day.

It refers to a system which provides means to earn livelihood.

GST will lead to increase in production potential increases the GDP of an economy. Therefore national imcome of the economy will increase. Due to increase in national income with fuller utilisation of resources PPC will shift rightward.

The position of industries at the time of independence was not satisfactory.
Following were the features of Indian industries:

1. The decline of the Handicraft Industry- The Britishers followed the policy of destroying the traditional handicraft industry by allowing free import of manufactured goods from British and restricting export tariffs by playing heavy-duty on Indian handicrafts. Such a decline in the handicraft industry is called deindustrialisation.
2. Lack of Basic Industries- There was a lack of basic industries such as iron and steel, coal and capital goods.
3. Limited Role of the Public Sector- Public sector was confined to railways, power generation, communication, ports, etc.
4. Lack of Incentives- The British government did not provide incentives to Indian entrepreneurs to establish various industries. This resulted in a lack of sound industrial base. There was the downfall of cottage industries.

TP stands for the Total product, MP stands for the Marginal Product and AP stands for the average product. Let's understand these briefly. Total Product: Total product is referred to as the relationship between the variable input and the output, when all other factors of input are constant.