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Arpita Pandey 7 years, 8 months ago

There are 2 types of related goods- 1) Substitute goods 2) complementary good 1)Let X and Y be substitute goods(say tea and coffee which are bith hot drinks).If price of Y(coffee) falls then a rational consumer would prefer buying coffee instead of tea.Hence, quantity demanded of good X(tea) would fall. 2)Now,let X and Y be complementary goods(say pen and ink).If price of pen falls, there'd be a hike in quantity demanded of ink because without ink pen won't function and vice-versa.

ANSWER

A and B are substitute goods explian the effect of rise in price of A on the demand of B

Posted by Nishu Nishu 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Syed Khabib 7 years, 8 months ago

When price of good A rise then the demand for good B rises .Because good B becomes cheaper than good A.And they are substitute goods which can take place in place of others.

ANSWER

Why is the demand curve commodity is negatinely sloped

Posted by Nishu Nishu 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Syed Khabib 7 years, 8 months ago

Demand curve of a commodity is slopes downward or negatively sloped because of inverse relationship between price and quantity demanded of a commodity.

ANSWER

Project suitable for 2018 2019

Posted by Dr.Rakesh Chaturvedi 7 years, 8 months ago

CBSE > Class 12 > Economics

0 answers

ANSWER

Why is the no. Of firm small in the oligopoly mar

Posted by Neha Yadav 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Syed Khabib 7 years, 8 months ago

Because the capital that has to be invested in oligopoly market is huge. Risk and profit also fluctuate in this type of market. Pricing policy affect of one firm affect the other firm .

ANSWER

economics is about making choices in presence of scarcity.explain

Posted by Manisha No 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Riya Sharma 7 years, 8 months ago

We know that resources are limited (scarce) and have alternative uses. Therefore a consumer has to use the resources in an optimum manner . The subject matter of economics revolves around the optimum utilisation of resources

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ANSWER

What is econimical fund

Posted by Manish Rawal 7 years, 8 months ago

CBSE > Class 12 > Economics

0 answers

ANSWER

Why are money flows are opposite from real flows????

Posted by Jahanvi Gupta 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Jaisy Jeji 4 years, 11 months ago

money flows are opposite to real flows. Because money flow are in response to real flows. Example : There is a real flow of goods and services from the producers to the households. It is in response to it, that the households make payments to the producers. So that, money flows from the households to producers in terms of consumption expenditure. Likewise, there is a real flow of factor services from the households to the producers. It is in response to it, that the producers make payments to the households. So that, money flows from producers to the households in terms of factor payments.

ANSWER

Define demand name the factors affecting market demand

Posted by Nishu Nishu 7 years, 8 months ago

CBSE > Class 12 > Economics

2 answers

Nishu Nishu 7 years, 8 months ago

Thanks master

Syed Khabib 7 years, 8 months ago

When a buyer is ready to purchase different quantities of a commodity at the given price with his income over a period of time is known as demand. Factors : 1.Taste and preference 2.Own price of a commodity 3.price of related goods 4.income of the buyer 5.Expectation.

ANSWER

For whom to produce

Posted by Ankit Yadav 7 years, 8 months ago

CBSE > Class 12 > Economics

2 answers

Syed Khabib 7 years, 8 months ago

This problem related to the distribution of income and goods.Producer cannot produce goods for the section of society because resources are scars . The problem become complex for the producer.If he produce goods for the reacher sections of society then he earn good profit them but the poor peoples face the problem of starvation. On the other hand,if he produce goods for the poorer section then poorer people cannot purchase higher price goods which results in loss for the producer.

Nishu Nishu 7 years, 8 months ago

Distribution of good or income

ANSWER

Given the price of a good,how does a consumer decide to how many units of that good to buy

Posted by Sandeep Kumar 7 years, 8 months ago

CBSE > Class 12 > Economics

2 answers

Syed Khabib 7 years, 8 months ago

Or it can be depends on satisfaction.

Syed Khabib 7 years, 8 months ago

It depends on his income.

ANSWER

What is a diffenecne bteween extension in demand and increase in demand

Posted by Nishu Nishu 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Syed Khabib 7 years, 8 months ago

*When the quantity demanded of a commodity rises due to decrease in the own price of a commodity other factor remain constant is called extension or expansion in demand .There is downward movement along the same demand curve. *Increase in demand prefer to rise in quantity demanded of a commodity caused due to factor other than own price of a commodity. There is rightward shift in demand curve.

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When income of the consumer falls the impact on price demand curve of an inferior good will be there on damand curva explain

Posted by Nishu Nishu 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Syed Khabib 7 years, 8 months ago

Demand curve will shift rightward .Because inferior goods are those goods whose demand increase with decrease in income.

ANSWER

What is difference between normal goods and inferior goods

Posted by Nishu Nishu 7 years, 8 months ago

CBSE > Class 12 > Economics

2 answers

Devashree Das 7 years, 8 months ago

While inferior goods are low quality goods. It is inversely related to the income of consumer.It means when the income of consumer increases the demand of inferior good decreases and when the income of consumer decreases, the demand increases.

Devashree Das 7 years, 8 months ago

Normal goods are better quality goods.It is directly related with the income of consumer. It means when the income of consumer increases, the demand of normal good also increases and when the income of consumer decreases ,the demand also decreases.

ANSWER

Sample paper of last year chapter consumer equilibrium -utility analysis

Posted by Sakshi Maheshwari 7 years, 8 months ago

CBSE > Class 12 > Economics

0 answers

ANSWER

Define monotonic preference

Posted by Abhinav Sultaniya 7 years, 8 months ago

CBSE > Class 12 > Economics

0 answers

ANSWER

Write the factors of effecting demand. Explain.

Posted by Saloni Tiwari 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Syed Khabib 7 years, 8 months ago

1.Taste and preference-Taste also affect the demand of a commodity. *When there is favourable change in the taste and preference of the consumer then demand for such a commodity will rise .On the other hand when there is unfavourable change in the taste and preference of the consumer then demand of a commodity will fall. 2.Own price of a commodity -own price of the commodity affect demand of a commodity in two ways. *A.Contraction in D- When on price of a commodity rise and it's demand fall is called CID. *B.Extension in D-when own price of a commodity fall and its demand rises is called extension in demand. 3.Expectation -when the price of a commodity is expected to increase in near future then demand for such a commodity will increase and Vice-versa. 4.Income Income of the buyer-income of the buyer affect the demand of two goods: A .Normal goods -those goods whose demand increase with increase in income. Positive relationships b/w demand and income. B.Inferior goods.-Those goods whose demand increase with decrease in income. Negative relationship between demand and income.

ANSWER

What are the conditions of consumers equilibrium under the indifferencecurve approach what changes will take place if the conditions are not fulfilled to reach the equilibrium

Posted by Nishu Nishu 7 years, 8 months ago

CBSE > Class 12 > Economics

2 answers

Nishu Nishu 7 years, 8 months ago

Thanks master for answer

Syed Khabib 7 years, 8 months ago

Conditions of consumer equilibrium. 1.MRSxy =px/py 2.IC convex to the origin. Conditions of disequilibrium. 1MRS>px/py *This condition states that here consumer is consuming more units of commodity x than y .He continuously consume commodity x then the satisfaction obtained from the commodity or good x will decrease. This process will continue till MRSxy =px/py. 2MRS <px/py. *Here consumer is consuming more units of good y than x .He continuously consume more units of y then the satisfaction obtained from the consumption of good x will decrease. This process will continue till MRS=PX/PY.

ANSWER

Indifference curve slopes downward

Posted by Kartik Dhamanda 7 years, 8 months ago

CBSE > Class 12 > Economics

2 answers

Narsingh Raghav 7 years, 8 months ago

Because of negative relationship

Syed Khabib 7 years, 8 months ago

Because to increase the consumption of good x consumer sacrifice the consumption of good y. Consumer cannot purchase both the good atthe same time due to he sacrifice one good for the gain of other.

ANSWER

Explain PPC and its Point's

Posted by Ankit Singh 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Tina Dhawan 7 years, 8 months ago

Production possibility curve (PPC) is a curve which shows the combination of two unrelated goods that can be produced with available technology and given resources. 1- All points on PPC and inside the PPC are attainable points. a- points on the PPC shows e fuller utilisation of resources b- points inside the PPC shows underutilization of resources 2- All the points outside the PPC represents unattainable points.

ANSWER

Why the MOC or MRT increase in PPC ?

Posted by Ashish Raj 5 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Vidhi Jain 7 years, 8 months ago

because more units of good y have to sacrificed to gain one additional unit of good x over the time

ANSWER

Why do scarce goods attract price?

Posted by Prerna Gupta 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Syed Khabib 7 years, 8 months ago

Scars goods catch high price because they have high demand and less supply.

ANSWER

Why PPC slopes downwards ?

Posted by Aryan Bhushan 7 years, 8 months ago

CBSE > Class 12 > Economics

2 answers

Vidhi Jain 7 years, 8 months ago

it is downward sloping as one good has to be sacrificed to gain one additional unit of the other good given the limited resources.Increasing MRT is d reason for concave shape in ppc

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Vinay Kunar 7 years, 8 months ago

when MRT is increase then PPC slope is downwards...so it has concave to origin...

ANSWER

Difference between marginal opportunity cost and marginal rate of substitution

Posted by Ashish Raj 4 years, 7 months ago

CBSE > Class 12 > Economics

1 answers

Sia ? 4 years, 7 months ago

Marginal Opportunity Cost (or, simply opportunity cost) refers to the amount of production of one good that must be sacrificed to produce one additional unit of the other good. Opportunity cost is the slope of the Production Possibility Curve (PPC).

On the other hand, Marginal Rate of Substitution refers to the rate at which a consumer is willing to substitute one good for each additional unit of the other good. Marginal Rate of Substitution is the slope of the Indifference Curve.

Thus, the basic difference between the two concepts is that while, Marginal Opportunity Cost is associated with the concept of production, on the other hand, Marginal Rate of Substitution is associated with the concept of consumption.<script>document.write('This conversation is already closed by Expert');</script>

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ANSWER

Explain determinants of demand?

Posted by Arsh Sidhu 7 years, 8 months ago

CBSE > Class 12 > Economics

0 answers

ANSWER

You have rs.1000 as your pocket money you can deposit this money in a bank and get rs.1100 after an year however, you have two other choices (i) lend this money to your friend who is ready to pay you rs 1050after an year (ii) keep the money with you as cash in hand

Posted by Shivani Mehta 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Syed Khabib 7 years, 8 months ago

2.keep the money with you as cash in hand . Oc.

9Thank You

ANSWER

What is the answer of MRSxy>px/py.

Posted by Kritika Kittu 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Syed Khabib 7 years, 8 months ago

This condition states that here consumer is consuming more unit of good x than good y .He continously consumer good x then the satisfaction derived from the consumption of good x decreases .This process will continue till MRS=Px/Py.

ANSWER

What are the features of variable factors?

Posted by Kriti Keya 7 years, 8 months ago

CBSE > Class 12 > Economics

1 answers

Syed Khabib 7 years, 8 months ago

*variable factors change with the level of output. *Variable factors varies in both short or long run.