HSC Commerce (English Medium) १२ वीं कक्षा - Maharashtra State Board Question Bank Solutions for Economics

Define or explain the following concept:

Unitary Elastic Demand

Define or explain the following concept:

 Income Elasticity of Demand

Give reason or explain the following statement:

Demand for necessaries is inelastic.

Give reason or explain the following statement:

Demand for habitual goods is inelastic.

Give reason or explain the following statement:

Concept of Elasticity of Demand helps trade union leaders.

Give reason or explain the following statement:

Demand for commodity having multiple uses has elastic demand.

Give reason or explain the following statement:

Demand for goods having snob appeal has elastic demand.

Define 'or' explain the following concept.

Fixed capital

Write short answer for the following question :

Total outlay method of measuring price elasticity of demand.

MU of the commodity becomes negative when TU of a commodity is ______.

Choose the correct option: 

Statement indicating consumer equilibrium:

a) MU is greater than price

b) MU is equal to price

c) MU is less than price

d) Price is less than one

Give economic term:

Elasticity resulting from infinite change in quantity demanded.

Give an economic term: 

Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.

Non-tax sources of revenue:

1. Direct and Indirect Tax
2. Direct Tax and Fees
3. Fees
4. Special Levy

Identify the right group of pairs from the given options.

• 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.

Distinguish between the following concept:

Direct tax and Indirect tax.

State with reason whether you agree or disagree with the following statement:

Fines and penalties are a major source of revenue for the Government.

Homogeneous product is a feature of this market.

1. Monopoly
2. Monopolistic competition
3. Perfect competition
4. Oligopoly

Complete the Correlation:

Price taker : ______ :: Price maker :: Monopoly.