Correlation — Economics STD 11 Commerce — Question

Classify the following as implicit and explicit cost:
Estimated salary of wife working in family business.

While making a board-room presentation related to sales in different quarters Kshitij made extensive use of graphs. Which advantage of graph is indicated in the above usage?

Why are price and quantity index numbers constructed?

Frame at least four appropriate multiple-choice options for following questions:
Rise in the price of petrol is justified.

What is meant by cardinal measurement of utility?

Give three demerits of arithmetic mean.

Classify the following as implicit and explicit cost:
Setting up a factory by using third party funds.

When is elasticity of demand called unitary?

What will be the effect on equilibrium price and quantity of an increase in equal proportion of demand and supply of a commodity?

State the meaning of sub-divided bar diagrams.