MICROECONOMICS CH : 13 MARKET EQUILIBRIUM UNDER PERFECT COMPETITION AND EFFECTS OF SHIFTS IN DEMAND AND SUPPLY — Economics STD 11 Commerce — Question

Who is a producer?

Classify the following as microeconomics or macroeconomics:
(i) A households decision on how much to save.
(ii) The effect of government regulations on industrial pollution.
(iii) Impact of higher capital formation on growth.
(iv) Firm X's decision on how many people to hire.
(v) GDP of Indian economy.
(vi) Higher wages paid to nurses solving the problem of shortage of nurses.
(vii) Fall in the market price of stocks.
(viii) Economising of resources by an individual.

What does the distance between the line of equal distribution and the line of actual distribution show?

When will weighted mean be greater than simple mean and why?

Why does variable cost curve originate from the point of origin?

Why do the central problems arise in all economies, rich or poor?

State and illustrate mathematical properties of median.

State the law of supply.

Imposition of higher taxes on cigarettes help discourage its consumption.(Positive, Normative )

Define Giffen goods.