QUESTIONS OF THE WEEK

SUBJECT: ECONOMICS

CBSE BOARD

Class IX

Chapter 1: The Story of village Palampur
Question:
Distinguish between Multiple cropping and Modern Farming.

Solution:
Multiple Cropping:

To grow more than one crop on a given piece of land is known as multiple cropping. Multiple cropping has traditional cultivation method with relative low yield. By using traditional methods the yield went up to 1300 kg per hectare. This method does not require electricity, pump sets, pesticides etc.

Modern Farming:
 Under this method, land is used for single crop using better variety of seeds and fertilizers. Modern farming has modern equipment, HVY seeds, chemical fertilizers etc. with higher yield. By using modern farming methods the yield went up to 3200 kg per hectare. This method requires electricity, pump sets, pesticides etc.

Class X

Chapter 1: Development
Question:
On what basis have the rich and low income countries been categorized in the World Development report, 2006. India comes under which category and why?
Solution:
According to World Development Report 2006, countries with per capita income of Rs 4,53,000 per annum and above in 2004, are called rich countries and those with per capita income of Rs 37,000 or less are called low-income countries. India comes in the category of low-income countries because its per capita income was just Rs 28,000 per annum in 2004.

Class XI (Statistics for Economics)

Chapter 4: Presentation of data.
Question:
Why it is necessary to present the data in a diagrammatic form? 
Solution:
As data are generally in large volume, they need to be put in a compact and presentable form. Facts and figures as such do not catch our attention unless they are presented in an interesting and impressive way. Thus, after data has been collected, organized and classified, they need to be put in a presentable form. The presentation of data means the expression of data in such a clear, precise, attractive and impressive manner so that these are easily understood, examined and could be made usable readily. Thus, data can be illustrated in an understandable fashion by presenting them graphically, textually etc. using different forms of presentation tools.

Class XII (Micro Economics)

Chapter 2: Theory of consumer Behaviour.
Question:
Explain the concept of substitute goods with the help of the diagram.

Solution:

Substitute goods are those goods which can be substituted for each other for example tea and coffee or Pepsi and coke. In case of substitute the quantity demanded of one good is positively related to the price of other good. For example, demand for coffee is positively related to the prices of its substitute commodity tea. Suppose, if the price of tea rises, consumers will stop consuming tea and switch on to      coffee thereby increasing the demand for coffee. Following figure illustrates this relationship :

                  In the figure, Y axis represents the price of tea and X axis represents the demand for coffee. DD is the demand curve. Initially, the price of tea was OP and demand for coffee is OQ. Now, when price of tea rises from OP to OP1 then correspondingly the demand for coffee is increasing from OQ to OQ1. Hence, we get the upward sloping demand curve DD.