MICROECONOMICS CH : 8 CONCEPTS OF COST — Economics STD 11 Commerce — Question

Distinguish between 'change in demand' and 'change in quantity demanded'. ### Distinguish between 'movement along a demand curve' and 'shift in demand curve':

Differentiate between absolute and relative measures of dispersion.

Give some differences between mean deviation and standard deviation.

Distinguish between a bar diagram and a histogram.

The price paid and quantities purchased by a household in base and current years are given below. Calculate the additional dearness allowance to be given to the household so as to fully compensate it for the price rise, using both the Laspeyre's and Paasche's index number.

Commodity	Base Year		Current Year
	Price (₹)	Quntity	Price (₹)	Quntity
A	30	10	40	8
B	12	20	15	18

Wages of 50 workers are given. Present them in the form of exclusive frequency distribution with class interval as 45-55, 55-65, etc.
95, 92, 91, 90, 88, 82, 86, 87, 87, 88, 70, 72, 76, 77, 77, 79, 79, 79, 78, 78, 68, 67, 67, 66, 65, 63, 63, 63, 63, 64, 58, 59, 60, 60, 60, 60, 61, 62, 62, 62, 55, 55, 55, 56, 57, 54, 53, 52, 52, 50

What is first quartile? Show it graphically.

Why is production possibility curve concave?

What are meant by total revenue, average revenue and marginal revenue?

Explain the concept of variable cost with the help of a table and diagram.