MICROECONOMICS CH : 12 FORMS OF MARKET: PERFECT COMPETITION — Economics STD 11 Commerce — Question

Define decrease in supply.

Name the form of presentation to which the following example relates.
40% of India's population lives below the poverty line and top 20% population commands 70% of the national income.

Calculate median and upper quartile for the following data:
22, 27, 15, 25, 30, 18, 27, 20, 21, 35, 23.

State one merit of arithmetic mean.

Define normal goods.

The wages of 8 workers expressed in rupees are 42, 45, 49, 38, 56, 54, 55 and 47. Find median wage.

If the demand for CNG increases as price of petrol increases, how are these two goods related?

What do you understand by 'line of equal distribution'?

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

Explain why the budget line is downward sloping.