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Shivani Chaudhary 7 years, 6 months ago

It can be seen through a diagram a flatter curve show more change in demand because of change in price whole less flatter curve show less change in demand because of change in price

Nikunj Kakkar 7 years, 6 months ago

The curve which is flatter have more elasticity and demand curve which is less flatter have less elasticity of demand

ANSWER

if ellasricoty of demand is -0.4 and change in Q by Q is eqal to -0.5 find new expenditure on tje commodityif initial expenditure is Rs.1500

Posted by Sahil K 7 years, 6 months ago

CBSE > Class 12 > Economics

0 answers

ANSWER

What is normative and positive economy

Posted by Ankit Joshi 7 years, 6 months ago

CBSE > Class 12 > Economics

1 answers

Sakshi Chahar 7 years, 6 months ago

Positive evonomy is related to the current situation of the econimy and normative economy related to ideal situation of our ecinomy

ANSWER

Methods of calculating national incone

Posted by Mohit Kumar 7 years, 6 months ago

CBSE > Class 12 > Economics

0 answers

ANSWER

How to find Nominal and real GDP

Posted by Deepak Singh 7 years, 6 months ago

CBSE > Class 12 > Economics

1 answers

Shivani Chaudhary 7 years, 6 months ago

Real GDP =nominal GDP × PRICE INDEX / 100

ANSWER

How ppc solve economic problem??

Posted by Aditi Raj 7 years, 6 months ago

CBSE > Class 12 > Economics

1 answers

Shivani Chaudhary 7 years, 6 months ago

PPC does not solve any economic problem it just show potential output that can economy produce with given resources and technology

ANSWER

What is economic ishus

Posted by Ankit Negi 7 years, 6 months ago

CBSE > Class 12 > Economics

1 answers

Shivangi Goel 7 years, 6 months ago

Economic issues are related to the problem of choice under what to produce, how to produce and for whom to produce arises out of the fact that resources are scare and have alternative uses...

ANSWER

Ques - How does a Monopoly market structure arise?? Explain

Posted by Shivangi Goel 7 years, 6 months ago

CBSE > Class 12 > Economics

2 answers

Shivangi Goel 7 years, 6 months ago

Yes....i understand .....thanks

Unknown . 7 years, 6 months ago

1.Govt Licencing -It means that before a firm can enter an industry it needs to take permission from the govt.The govt may grant licence for the production of a particular commodity only to one producer in a particular region. 2.Patent Right - products or new technologies are legally patented. As a reward for risk and investment in research and development govt grant patent right to the companies. The period for which patent right are granted is known as patent life.3.Cartel- It is a formal agreement between two or more companies to avoid competition.... I hope it will be helpful for you.

ANSWER

Movements and shifts in demand curve

Posted by Venay Raj 7 years, 6 months ago

CBSE > Class 12 > Economics

1 answers

Pranoti Ghadge 7 years, 6 months ago

Movement in dmd(demand) curve 1)another name- change in quantity demand. 2)meaning-when the quantity dmd changes due to change in price keeping others factors constant. 3)effect on dmd curve-its leadz to expansion and cintration of dmd curve 4)reason -due to increase and decrese of own price.... Shift in dmd curve 1)Another name- change in dmd. 2)Meaning -when change in dmd due to any other factor keeping price of own good constant. 3)effect on dmd curve -it lead to shift of dmd curve rightwards and leftwards. 4)reason-due to change in other factors... Plz also draw diagram of above both it will give u 2 mks.... Plzz refer ncert book diagram is there of both.....

ANSWER

Giving reason state the elasticity of needle.

Posted by Vishal Beniwal 7 years, 6 months ago

CBSE > Class 12 > Economics

1 answers

Shivani Chaudhary 7 years, 6 months ago

Needle 's demand is inelastic because it is a necessary good and its use cannot be postponed to future.......if there is any rise aur fall in price of needle then there will no any change in demand of needle

ANSWER

Best reference book for economics?

Posted by Kanika Mastana 7 years, 6 months ago

CBSE > Class 12 > Economics

7 answers

Pranoti Ghadge 7 years, 6 months ago

Dont use vk ohri or sandeep garg...... Use TOGETHER WITH ECINOMICS BY RACHA SAGAR as so many question are there after every chapter..... It is avaible on amazon at lower price then market .....

Kanika Mastana 7 years, 6 months ago

What u think about history,political science?

Shivangi Goel 7 years, 6 months ago

Try everything solved or unsloved......some sample papers are also available on this app u can use them and u can take the help from google for exrta sample papers....

Kanika Mastana 7 years, 6 months ago

Which solved sample papers should i use?

Shivangi Goel 7 years, 6 months ago

I think no.....becz i m also using vk ohri and it is sufficient as a reference book just study this deeply .....but for more prepration u should use cbse notes and last year sample papers......

Kanika Mastana 7 years, 6 months ago

Presently i am using vk ohri should i also go for sandeep garg?

Shivangi Goel 7 years, 6 months ago

Now which book r u using .....sandeep garg or vk ohri...

ANSWER

It is inform to all the students that i m going to give you here important topics , notes in easiest language etc . You need to suggest me topic which would you like to learn .So, write your queries in the option "Answer ".

Posted by Unknown . 7 years, 6 months ago

CBSE > Class 12 > Economics

4 answers

Unknown . 7 years, 6 months ago

Tomorrow i will tell u about Marketing and Price ceiling. ??

Unknown . 7 years, 6 months ago

Price floor - Price floor is also called minimum support price .It refers to the minimum price which is fixed by the government above the equilibrium price . ***when govt finds that equilibrium price is too low for the producers then govt start policy of Price floor or MSP. **It is also done by the govt to promote the production because when producers get low or normal income then they will reduce their particular good production ex wheat ..When can be result in shortage of wheat or it can become nation wide problem of wheat. **Implications -Price floor set by the govt above the equilibrium price. This leads to excess supply. When producers are not able to sell all they want they illegally sell the goods or services below the minimum price . **Govt purchase goods in bulk and it helps in maintaining buffur stock.

Shivani Chaudhary 7 years, 6 months ago

Marketing

Shivangi Goel 7 years, 6 months ago

Thanks for helping us......i want to learn about price floor and price ceeling covering all the main points, implications , etc....

ANSWER

What is opportunity cost explain?

Posted by Durgesh Kumar 7 years, 6 months ago

CBSE > Class 12 > Economics

2 answers

Unknown . 7 years, 6 months ago

Opportunity cost is the value of a factor in its next best alternative use. OR Opportunity cost is the cost of availing one opportunity in terms of the loss of the other opportunity.

Harshit Sharma 7 years, 6 months ago

Opportunity cost refers to an cost which a person have to chose best alternative from other, and get leave

ANSWER

although water is useful yet it is cheap on the contrary diamond are not much of use still it is very expensive. give any economic reason for this

Posted by Bhavika Bohra 7 years, 6 months ago

CBSE > Class 12 > Economics

2 answers

Shivangi Goel 7 years, 6 months ago

I hope the answer may be clear to u.....

Shivangi Goel 7 years, 6 months ago

Water comes in our necessaries so it is inelastic in demand rises in price of water may not lead to fall in demand so it is cheap frm the point of social welfare........but Diamond is a luxary good so it elastic in demand and also a article of distinction so law of demand also faills in this case thus high price of diamond leads to its demand......

ANSWER

A consumer consumes only 2 goods . MRS is 1. Price of X and Y are 3 and 4 p.u. is the consumer in equilibrium?

Posted by Jyoti Chopra 7 years, 6 months ago

CBSE > Class 12 > Economics

2 answers

Anushka Prasad 7 years, 6 months ago

Given, MRS= 1 Px = Rs. 3 Py= Rs. 4 MRS= Px/Py 1= 3/4 1>3/4 Which means, MRS> Px/Py So, the consumer isn't in equilibrium. The consumer should increase consumption of goo-x and decrease that of good-y to attain equilibrium.

Jyoti Chopra 7 years, 6 months ago

ANSWER

Why budget line is alsa known as *price line*

Posted by Washeem Ahmed 7 years, 6 months ago

CBSE > Class 12 > Economics

1 answers

Shivangi Goel 7 years, 6 months ago

Budget line is also called price line because it shows the price ratio between good x and good y......

ANSWER

A consumer spends RS. 400 on a commodity which is priced at RS. 3 per unit. When the price of the good Rises by 25% then he spents RS. 500 on that commodity. Calculate price elasticity of demand.

Posted by Ditee Bhattacharjee 7 years, 6 months ago

CBSE > Class 12 > Economics

0 answers

ANSWER

Explain the problems of choice

Posted by Hemant Pachoriya 7 years, 6 months ago

CBSE > Class 12 > Economics

0 answers

ANSWER

Properties of budget line

Posted by Akshat Pratap Singh 7 years, 6 months ago

CBSE > Class 12 > Economics

1 answers

Swati Gupta 7 years, 6 months ago

What is economic

ANSWER

The price elasticity of demand of a good is -0.5. At a price of rs. 20 per unit its demand is 300 units. At what price will its demand increase by 10 percent

Posted by Rupali Kumari 7 years, 6 months ago

CBSE > Class 12 > Economics

0 answers

ANSWER

How does a consumer reach equilibrum position when he is buying only one commodity ? Explain with the help of marginal utility schedule?

Posted by Supreet Raj 7 years, 6 months ago

CBSE > Class 12 > Economics

1 answers

Shivangi Goel 7 years, 6 months ago

When the consumer consumes only one commodity then its equillibrium based on three factors- .price of the commodity, .marginal utility of the commodity, . marginal utility of money......according to this equilibrium schedule is MUx/ Px =MUm ......

ANSWER

If good action virus attitude a rise in price of X will result in right but shift of demand curve true or false

Posted by Kamal Sukhija 7 years, 6 months ago

CBSE > Class 12 > Economics

0 answers

ANSWER

Difference between utility analysis and indifference curve analysis

Posted by Ditee Bhattacharjee 7 years, 6 months ago

CBSE > Class 12 > Economics

1 answers

Shivangi Goel 7 years, 6 months ago

Utility analysis is the measurement of consumer's equilibrium on the bases of cardinal no...according to which utility can be expressed in term of utiles as 1,2 etc...Indefference curve analysis is the measurement of equilibrium on the bases of ordinal no..according to which utility can not be expressed in utiles only can be ranked as high or low, same etc....

ANSWER

Example of human made resources

Posted by Ajay Rawat 7 years, 6 months ago

CBSE > Class 12 > Economics

1 answers

Ishika Bhenwal 7 years, 6 months ago

Machinery,Building and many more.

ANSWER

What is difference between total utility and marginal utility

Posted by Passang Sherpa 7 years, 6 months ago

CBSE > Class 12 > Economics

2 answers

Sohan Kumar Dash 7 years, 6 months ago

Total utility is summation of marginal utility of all the units Marginal utility is additional utility derived from additional unit of consumption of commodity.

Unknown . 7 years, 6 months ago

Total Utility refers to the total satisfaction obtained from the consumption of all the units of a commodity. ... Marginal utility refers to change in total utility when one more unit of a commodity is consumed.

ANSWER

What is price floor and it's implications

Posted by Poonam Dubey 7 years, 6 months ago

CBSE > Class 12 > Economics

1 answers

Unknown . 7 years, 6 months ago

Price floor refers to the minimum price which is fixed by the government above the equilibrium price that producer must be paid for their produce. Its Implications Price floor is fixed above the equilibrium price. This leads to excess supply. When producer are not able to sell all they illegally sell the goods below the equilibrium price to get some amount.

5Thank You

ANSWER

What r factor and non factor inputs?

Posted by Sakshi Chahar 7 years, 6 months ago

CBSE > Class 12 > Economics

3 answers

Sakshi Chahar 7 years, 6 months ago

Thnxx shivangi

Shivangi Goel 7 years, 6 months ago

Non factors inputs play a supporting role in production ..while factor inputs are the base for production...

Shivangi Goel 7 years, 6 months ago

Factor inputs( land, labour, capital and enterprenership called factors of production) .....Non factor Inputs like raw material

ANSWER

What is MRT in very simple language?

Posted by Sandeep Sharma 7 years, 6 months ago

CBSE > Class 12 > Economics

5 answers

Shivangi Goel 7 years, 6 months ago

MRT refers to opportunity cost per unit of additional output of good 2 when some resources are shifted from good1 to other good2... MRT is just the ratio bw loss of output and gain of output...

Priyanshu Dhupar 7 years, 6 months ago

MRT is just like MRS **********

Priyanshu Dhupar 7 years, 6 months ago

So MRS is just like MRS the differnce is just that mrs consumer is willing to sacrifice that much quantity. In mrt the market wants the consumer to sacrifice that quantity which means he has to sacrifice because of his fixed income He has to reduce expenditure in one commodity ( sacrifice ) to buy more of other

Priyanshu Dhupar 7 years, 6 months ago

Sorry i just explained MRS instead of MRT ??

Priyanshu Dhupar 7 years, 6 months ago

The rate at which the consumer is willing to sacrifuce unuts of one commodity to buy more of other . This basically means that what quantity of acommodity the consumer is willing to sacrifice to buy more of the other . And he has to sacrifice some quantity ,because if he does not sacrifice , the total quantity ( quantity of both goods will increase ) which means higher satisfaction but all points on indifference curve show same level of satisfaction

ANSWER

If a consumer is different between combination A and combination B of two goods,what does this means

Posted by Payal Chohan 7 years, 6 months ago

CBSE > Class 12 > Economics

2 answers

Shivangi Goel 7 years, 6 months ago

Sorry in 1st line it is combination * in place of good

Shivangi Goel 7 years, 6 months ago

It means both the goods A and B giving him the same level of satisfaction...he can use any one of them to satisfy his wants...Example- there are many different types of black ball pen in a bundle so the consumer can use any one from that all the pens give him equall satisfaction..so the consumer will indifferent accross all the combination..