MICROECONOMICS CH : 5 THEORY OF DEMAND — Economics STD 11 Commerce — Question

What is meant by production possibility curve? Illustrate with the help of a table and diagram.

Enumerate the features of a good diagrammatic presentation.

Give advantages and disadvantages of quartiles, deciles and percentiles.

Calculate Quartile deviation from the following data:

Marks:	0-10	10-20	20-30	30-40	40-50
No. of Students:	4	15	28	16	7

Represent the following data of annual profits of a firm through a time series graph:

Years	2013	2014	2015	2016	2017	2018
Profits (in '000 ₹)	60	72	75	65	80	95

Record the daily expenditure, quantities bought and prices paid per unit of the daily purchases of your family for two weeks. How has the price change affected your family?

Explain with the help of diagrams, the effect of the following changes on the demand for a commodity:
(i) A rise in the price of substitute good.
(ii) A rise in the price of complementary good.

Construct the following indices by taking 2014 as the base year

1. Simple Aggregative Price Index.
2. Index of Average of Price Relative.

Item	A	B	C	D	E
Price in 2014 (₹)	6	2	4	10	8
Price in 2015 (₹)	10	2	6	12	12
Price in 2016 (₹)	15	3	8	14	16

Draw less than and more than ogive (cumulative frequency curve) using the following data:

Marks	0-5	5-10	10-15	15-20	20-25	25-30	30-35	35-40
No. of Students	7	10	20	13	12	10	15	8

What is 'Indirect Interview method? How is it different from Personal Interview method? Explain.