Page No 64: Question 1: In the matrix, write: (i) The order of the matrix (ii) The number of elements, (iii) Write the elements a13, a21, a33, a24, a23 Answer: (i) In the given matrix, the number of rows is 3 and the number of columns is 4. Therefore, the order of the matrix is 3 × 4. (ii) Since the order […] Page No 41: Question 1: Find the principal value of Answer: Let sin-1 Then sin y = We know that the range of the principal value branch of sin−1 is and sin Therefore, the principal value of Question 2: Find the principal value of Answer: We know that the range of the principal value branch of cos−1 is . Therefore, […] Page No 5: Question 1: Determine whether each of the following relations are reflexive, symmetric and transitive: (i)Relation R in the set A = {1, 2, 3…13, 14} defined as R = {(x, y): 3x − y = 0} (ii) Relation R in the set N of natural numbers defined as R = {(x, y): y = x + 5 and x < 4} (iii) Relation R in the set A = […] Page No 96: Question 1: Differentiate between balance of trade and current account balance. Answer: Points of difference Balance of trade Current account balance Definition It is the difference between the values of exports and imports of goods of a country. It is the difference between the values of exports and imports of goods, services […] Page No 74: Question 1: Explain why public goods must be provided by the government. Answer: A good that is non-rival and non-excludable is referred to as public good. Non-rival means that consumption by one individual does not affect the consumption of another individual. Whereas, non-excludable implies that no individual can be excluded from using […] Page No 59: Question 1: What is marginal propensity to consume? How is it related to marginal propensity to save? Answer: Marginal propensity to consume refers to the ratio of change in the consumer’s expenditure due to the change in disposable income (income after deducting taxes). In other words, MPC measures how consumption will vary […] Page No 46: Question 1: What is a barter system? What are its drawbacks? Answer: Barter system is a system that was used in ancient times to exchange goods. In other words, this system was used to exchange one commodity for another before the monetary system came into existence. For example, if a person having […] Page No 30: Question 1: What are the four factors of production and what are the remunerations to each of these called? Answer: The four factors of production are: 1. Land − It denotes the natural resources like air, water, soil, etc. The payment that is paid by the firms to acquire these services is […] Page No 7: Question 1: What is the difference between microeconomics and macroeconomics? Answer: Points of Difference Microeconomics Macroeconomics 1. Definition It is a branch of economics that studies the economic variables at an individual level like the households, the firms, the consumers etc. It is a branch of economics that studies the economic variables […] Page No 99: Question 1: What would be the shape of the demand curve so that the total revenue curve is (a) a positively sloped straight line passing through the origin? (b) a horizontal line? Answer: (a) If the total revenue curve is a positively sloped straight line passing through the origin, then the slope […]