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Kalyan Hazra
Subject: Economics
, asked on 12/8/17
q.how is the elasticity of demand of a commodity affected by the number of its substitutes- explain
ans Demand for a commodity with large number of substitutes will be more elastic .the reason is that even a small rise in its prices will induce the buyers to go for its subsitutes.for example a rise in the price of Pepsi encourage buyers to buy coke and vice versa.thus,availability of close substitutes make the demand sensitive to change in the prices.
on the other hand,commodities with few or no substitutes like wheat and salt have less price elastictiy of demand.
pls check the answer
Answer
1
Vibhav
Subject: Economics
, asked on 8/8/17
The Demand Function is given by
QD = a + bP
And the Supply Function is given by
QS = a +bP - T + S
Please explain these two equations in detail explaining what they represent and also their Derivation
Answer
2
Vibhav
Subject: Economics
, asked on 8/8/17
Solve the first Question of this paper
Answer
1
Harsh
Subject: Economics
, asked on 5/8/17
What is the value of Elasticity of Demand on a rectangular hyperbola curve? Explain
Answer
1
Abhinav Garg
Subject: Economics
, asked on 3/8/17
Explain the cause of failure of law of demand in case of giffen goods with the help of price effect??? plz explain in bereif
Answer
2
Abhinav Garg
Subject: Economics
, asked on 3/8/17
explain the cause in failure of law of demand in case of giffin goods with the help of price effect ?? explain in berief these ques from law of demand
Answer
1
Jaanvi
Subject: Economics
, asked on 31/7/17
A firm is able to sell more quantity of a good only by lowering the price. The firm’s marginal revenue, as he goes on selling, would be
(choose the correct alternative)
(a) Greater than average revenue (b) Less than average revenue (c) Equal to average revenue (d) Zero
Answer
1
Shobhit De
Subject: Economics
, asked on 30/7/17
Does marginal utility of money follow Law of Diminishing Marginal Utility? Please explain in detail.
Answer
1
Kalyan Hazra
Subject: Economics
, asked on 29/7/17
PLEASE CHECK THE ANSWER
Answer
1
Kalyan Hazra
Subject: Economics
, asked on 29/7/17
PLEASE CHECK THE ANSWER
Answer
1
Kalyan Hazra
Subject: Economics
, asked on 24/7/17
Q. Explain in brief the various components of expenditure methods?
Answer
1
Kalyan Hazra
Subject: Economics
, asked on 24/7/17
PLEASE CHECK THE ANSWER
5. Explain any two precaution that should be taken while estimating national income (a) value added method and (b) income method.
Ans.
For value added method :
1. Production of goods for self consumption will be included - in the national income as they continue to the current output. Their value is to be estimated on inputted as they are not sold in the market.
2. Change in stock of goods (inventory) will be included net increase in the stock of inventories will be included in the national income as it is a part of capital formation.
For Income method :
1. Income from brokerage or commission will be included because brokerage or commission received by brokers or included as it is an income received for rendering productive services.
2. Inputted value of services provided by owners of production units will be included - Inputted value of owner - occupied houses, interest on own capital, Production for self consumption etc. Will be included as these are productive activities and add to the flow of goods and services.
Answer
1
Kalyan Hazra
Subject: Economics
, asked on 24/7/17
Please check the answer
Answer
1
Kalyan Hazra
Subject: Economics
, asked on 23/7/17
6. Distinguish between Perfectly elastic demand and Perfectly inelastic demand. Draw diagrams also.
Answer
1
Kalyan Hazra
Subject: Economics
, asked on 23/7/17
5. Draw three demand curves in which price elasticity of demand remains same at all the points.
Answer
1
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What are you looking for?
ans Demand for a commodity with large number of substitutes will be more elastic .the reason is that even a small rise in its prices will induce the buyers to go for its subsitutes.for example a rise in the price of Pepsi encourage buyers to buy coke and vice versa.thus,availability of close substitutes make the demand sensitive to change in the prices.
on the other hand,commodities with few or no substitutes like wheat and salt have less price elastictiy of demand.
pls check the answer
QD = a + bP
And the Supply Function is given by
QS = a +bP - T + S
Please explain these two equations in detail explaining what they represent and also their Derivation
A firm is able to sell more quantity of a good only by lowering the price. The firm’s marginal revenue, as he goes on selling, would be
(choose the correct alternative)
(a) Greater than average revenue (b) Less than average revenue (c) Equal to average revenue (d) Zero
Q. Explain in brief the various components of expenditure methods?
5. Explain any two precaution that should be taken while estimating national income (a) value added method and (b) income method.
Ans. For value added method :
1. Production of goods for self consumption will be included - in the national income as they continue to the current output. Their value is to be estimated on inputted as they are not sold in the market.
2. Change in stock of goods (inventory) will be included net increase in the stock of inventories will be included in the national income as it is a part of capital formation.
For Income method :
1. Income from brokerage or commission will be included because brokerage or commission received by brokers or included as it is an income received for rendering productive services.
2. Inputted value of services provided by owners of production units will be included - Inputted value of owner - occupied houses, interest on own capital, Production for self consumption etc. Will be included as these are productive activities and add to the flow of goods and services.