MICROECONOMICS CH : 3 CONSUMER'S EQUILIBRIUM UTILITY ANALYSIS — Economics STD 11 Commerce — Question

Explain the following features of perfect competition:
(i) Large number of buyers and sellers.
(ii) Homogeneous products.

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?

What do you understand by absolute change, relative change and net change?

Find the mean deviation and its coefficient from the given data.

Class lnterval	Frequency (f)
17.5-22.5	2
22.5-27.5	4
27.5-32.5	6
32.5-37.5	8
37.5-42.5	6
42.5-47.5	4
47.5-52.5	2
52.5-57.5	2

"An investigator should be careful while using secondary data”. Discuss.

Complete the following table and also draw the market demand curve.

Price (₹)	Quantity Demanded by Isha (Units)	Quantity Demanded by Misha (Units)	Market Demand (Units)
10	3	-	8
9	-	8	15
8	11	-	22
7	-	14	30
6	20	22	-

Represent the following data by an appropriate bar diagram.
Index Numbers of Agricultural Production

(base 1991-92 = 100 and figures of the nearest of unit value)

Foodgrains
Year	Rice	Wheat	Pulses
1999-2000	149	157	141
2000-01	162	170	131
2001-02	165	187	139
2002-03	155	176	121
2003-04	164	197	140
2004-05	166	189	127
2005-06	173	201	145

Any transaction which involves money But is associated with Economics. Defend or refute. Justify your answer.

Write any four methods of collecting primary data Explain any one method along with its two merits and two demerits.