HSC Commerce (English Medium) १२ वीं कक्षा - Maharashtra State Board Important Questions for Economics

• Assertion (A): Elasticity of demand explains that one variable is influenced by another variable.
• Reasoning (R): The concept of elasticity of demand indicates the effect of price and changes in other factors on demand.

Statements related to decrease in demand

1. It is a type of change in demand
2. It takes place due to unfavourable changes in other factors like tastes, income etc.
3. Price remains constant
4. Demand curve shifts to the right hand side of the original demand curve

Complete the correlation.

Direct demand : Food and Mobiles : ______ : Land and Labour.

Distinguish between:

Joint/complementary demand and competitive demand.

Find the odd word out:

Types of demand:

Explain the concept of price elasticity of demand.

Determination of equilibrium price under perfect competition.

Distinguish between Gross domestic product at a market price and Gross domestic product at factor cost.

Write explanatory answer.

Define perfect competition and explain price determination under perfect competition.

Define or Explain the General equilibrium.

 Give reasons or explain the following statements : 

The Entrepreneur is called as a leader of the organisation. 

Answer the following question :

Explain the relationship between ‘total utility’ and ‘marginal utility’.

 State whether the following statements are TRUE or FALSE:  

 Marginal utility increases with increase in consumption. 

 State whether the following statements are TRUE or FALSE:  

 In deficit budget, expenditure is more than income. 

Choose the correct answer :      

The capacity of a commodity to satisfy human want is known as _________. 

Do you agree with the following statements? Give reasons. 

Marginal utility and Total utility is same. 

Fill in the blanks with appropriate alternatives given in the bracket.  

 Marginal consumption function is always ________. 

Exceptions to the law of diminishing marginal utility:

1. Cardinal measurement
2. Hobbies
3. Miser
4. Money

Unit at which MU (Marginal Utility) becomes equal with market price is ______.