CAT Questions

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Footsteps. 

Yes, as you walk forward, you will leave the footstep behind you.

Prices do not reflect the full social cost of production is an example of Market failure.

A market failure occurs when the supply of a good or service is insufficient to meet demand. This results in an inefficient distribution of resources among market participants.

It also occurs if externalities are not accounted for.

If a firm fails to maximize its profits this is not a general market failure.

An eclipse happens when a planet or a moon gets in the way of the sun's light. Our planet Earth experiances two types of eclipses. They are Solar and Lunar eclipses.

Solar Eclipse : This occurs when The Sun, the Moon and the Earth are in a straight line. The moon being in middle blocks sun rays falling on the Earth.

Lunar Eclipse : The Sun, the Earth and the Moon are in a straight line. The Earth being in middle and moon in the shadow of Earth behind it.

A galvanic cell is also known as voltaic cell provides electrical energy from the chemical energy.

Jairam Thakur was sworn-in as the Chief Minister of Himachal Pradesh on 27th December 2017 after virbhadra Singh. The cabinet, including Thakur, were administered the oath of office and secrecy by Governor Acharya Dev Vrat at the historic Ridge Ground in Shimla, the capital city of Himachal Pradesh.

Jai Ram is the first chief minister from the second largest Mandi district and the 14th chief minister and sixth person to adorn the office of the chief minister.

The Agricultural Revolution led to the need for more organized civilizations and societies i,e government.

The Agricultural Revolution was a period of technological improvement and increased crop productivity that occurred during the 18th and early 19th centuries in Europe.

If the percent change in quantity demanded is less than the percent change in price, economists label the demand for the good as inelastic.

A good that is inelastic does not have very stretchy demand. In economic terms, the quantity demanded does not change a lot when the price changes.

So, if the price of a good increases by 10 percent and the quantity demanded decreases by only 5 percent or less than 10, that good is said to have inelastic demand.

Hence, in this case, consumers are not considered very sensitive, or responsive, to a change in the price of that good.