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Mnemonics : Demand | General Awareness for SSC CGL PDF Download

1. Meaning of Demand

MnemonicWAP → Willingness And Power
Mnemonic Explanation:

  • W → Willingness to buy
  • A → Ability to pay
  • P → Power of purchase

2. Conditions of Demand

Mnemonic: Desi Means Work
Mnemonic Explanation:

  • D → Desire for the commodity
  • M → Means/resources to purchase
  • W → Willingness to use means

3. Types of Demand

Mnemonic: Made One Industry Income Auto Cross Season.

Mnemonic Explanation:

  • → Individual demand
  • → Market demand
  • → Organisation demand
  • → Industry demand
  • → Income demand
  • A → Autonomous vs Derived demand
  • C → Cross demand
  • S → Seasonal vs Long-term demand

4. Factors Affecting Demand

Mnemonic: I See Dull People Constantly
Mnemonic Explanation:

  • I → Income Effect
  • S → Substitution Effect
  • D → Diminishing Marginal Utility
  • P → Preferences and Tastes
  • C → Curve shift due to changes

5. Significance of Law of Demand

Mnemonic: PEP Talk
Mnemonic Explanation:

  • P → Price Elasticity
  • E → Economy & Policy
  • P → Profit & Pricing strategies

6. Determinants of Demand

Mnemonic: PRIT
Mnemonic Explanation:

  • P → Price of commodity
  • R → Related goods (substitutes & complements)
  • I → Income of consumers
  • T → Tastes & Preferences

7. Change in Demand

Mnemonic: SIPL → Substitutes, Income, Preferences, Long-run expectations
Mnemonic Explanation:

  • S → Substitutes/Complements
  • I → Income changes
  • P → Preference shifts
  • L → Long-run expectations
The document Mnemonics : Demand | General Awareness for SSC CGL is a part of the SSC CGL Course General Awareness for SSC CGL.
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FAQs on Mnemonics : Demand - General Awareness for SSC CGL

1. What are mnemonics and how can they be helpful for SSC CGL preparation?
Ans. Mnemonics are memory aids that help you remember information more easily. They can be particularly useful for SSC CGL preparation as they allow candidates to memorize complex concepts, formulas, or lists by associating them with simple words or phrases. For example, the acronym "HOMES" can help recall the names of the Great Lakes: Huron, Ontario, Michigan, Erie, and Superior.
2. How can mnemonics improve retention and recall during exams like SSC CGL?
Ans. Mnemonics enhance retention and recall by transforming information into a format that is easier to remember. By using visual imagery, associations, or catchy phrases, candidates can create strong mental links to the study material. This method reduces cognitive load and allows for quicker retrieval of information during the exam, leading to better performance.
3. Can you provide examples of mnemonics for important topics in the SSC CGL syllabus?
Ans. Yes, here are a few examples: 1. For remembering the order of operations in mathematics, use "PEMDAS" which stands for Parentheses, Exponents, Multiplication and Division (from left to right), Addition and Subtraction (from left to right). 2. For remembering the colors of the rainbow, the phrase "ROYGBIV" can be used, which stands for Red, Orange, Yellow, Green, Blue, Indigo, and Violet.
4. Are there any specific strategies to create effective mnemonics for SSC CGL preparation?
Ans. To create effective mnemonics, follow these strategies: 1. Use vivid imagery to create a mental picture associated with the information. 2. Create acronyms or phrases from the first letter of each item you need to remember. 3. Relate new information to something you already know, making it more relatable and easier to recall. 4. Keep them simple and humorous, as they are often easier to remember.
5. How often should candidates practice using mnemonics during their SSC CGL preparation?
Ans. Candidates should incorporate the use of mnemonics regularly throughout their study sessions. Daily practice is beneficial, especially when revising complex topics or subjects that require memorization. Frequent use helps solidify the associations in memory, making it easier to recall the information during the actual exam. Regular revision of the mnemonics is also essential to ensure they remain fresh in memory.
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