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Explain the Problem of What to Produce. - Economics

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प्रश्न

Explain the problem of what to produce.

उत्तर

What to produce refers to the selection of the goods and the quantity to be produced of each selected commodity. This problem arises because resources are scarce and have alternative uses. As many goods can be produced from these resources, the problem is that which of the goods should be produced.

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2016-2017 (March) Delhi Set 2

संबंधित प्रश्न

  Group 'A'   Group 'B'
a. Pen and ink 1 Quantity-price
b. Revenue 2 Accident
c. Insurable risk 3 Transfer income
d. Unemployment allowance 4 Short period
e. Reverse repo rate 5 Long period
    6 Change in demand
    7 Joint demand
    8 Quantity * price

Any statement above demand for a good is considered complete only when the following is/are mentioned in it. ( choose the correct alternative)

a) Price of the good

b) Quantity of good

c) Period of time

d) All of the above


Give one reason for shift in demand curve.


Define or explain the following concept :

Effective demand .


State whether the following statement is true or false.

Perfectly inelastic demand curve is parallel to ‘X’ axis.


Fill in the blanks using proper alternatives given in the brackets. 

Demand for car and petrol is ____________ de 


Fill in the blank with appropriate alternatives given in the bracket: 

The law of demand states ________ relation between demand and price. 


 Write answers in ‘one’ or ‘two’ paras each. 

What are the main determinants of aggregate demand? 

 


Define or explain the following concept:

Derived demand


We say that there is a decrease in demand when ______


Which of the following points relates to the transaction demand for money? 


Law of demand states the ______ relationship between price and quantity demanded.


Which of the following points are related to the 'Paradox of Thrift'? 


Increase in price of substitute goods leads to ______


Which of the following can cause an increase in demand:


Aggregate demand can be decreased by:


Read the case study and answer the questions 97 to 100:

The Coca-Cola Company is an American multinational beverage company, with its headquarters in Atlanta, Georgia. The first company that conducted its operation in the soft drink industry was Coca-Cola. It is the world's largest non-alcoholic beverage company serving more than 1.8 billion consumers daily in more than 200 countries. It has a portfolio of more than 3,500 (more than 800 no or low-calorie) products. However, the company is best known for its flagship product Coca-Cola which was originally intended to be a patented medicine invented in 1886 by pharmacist John Smith Pemberton in Columbus, Georgia. The Coca-Cola products can be termed as normal goods and in August 2019 Coca-Cola introduced a new product into the market, that is, zero sugar where the demand has increased for the product in the market.

According to the council of the Australian Food Technology Association and Institute of Food Science and Technology, the Australian nonalcoholic beverages industry has been growing steadily, with a 2.3 percent increase in overall production in the year 2000 which amounts to 2.25 billion liters. However, in the re~ent years, sales of customary carbonated soft drinks have dropped as more and more customers become health conscious and move away from high-calorie sugary drinks. Soft Carbonated drinks. and other alcohol-free beverage manufacturers have also sensed the effects of intensifying competition from private-label soft drink makers. Nevertheless, sales of greater value energy and sports drinks have driven profit generation in the industry.

The demand. for coca-cola has ______


Read the case study and answer the questions 97 to 100:

The Coca-Cola Company is an American multinational beverage company, with its headquarters in Atlanta, Georgia. The first company that conducted its operation in the soft drink industry was Coca-Cola. It is the world's largest non-alcoholic beverage company serving more than 1.8 billion consumers daily in more than 200 countries. It has a portfolio of more than 3,500 (more than 800 no or low-calorie) products. However, the company is best known for its flagship product Coca-Cola which was originally intended to be a patented medicine invented in 1886 by pharmacist John Smith Pemberton in Columbus, Georgia. The Coca-Cola products can be termed as normal goods and in August 2019 Coca-Cola introduced a new product into the market, that is, zero sugar where the demand has increased for the product in the market.

According to the council of the Australian Food Technology Association and Institute of Food Science and Technology, the Australian nonalcoholic beverages industry has been growing steadily, with a 2.3 percent increase in overall production in the year 2000 which amounts to 2.25 billion liters. However, in the re~ent years, sales of customary carbonated soft drinks have dropped as more and more customers become health conscious and move away from high-calorie sugary drinks. Soft Carbonated drinks. and other alcohol-free beverage manufacturers have also sensed the effects of intensifying competition from private-label soft drink makers. Nevertheless, sales of greater value energy and sports drinks have driven profit generation in the industry.

______ is the want to buy a product backed by purchasing power.


Assertion (A): Demand deposits are not legal tenders.

Reason (R): They are with the bank, so only can be used as a legal tender when cheques are issued for the transfer.


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