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Study the following diagram and answer the questions:
Questions:
- In which direction does the demand curve slope?
- What is the reason for the fall in demand of rice from Q0 to Q1?
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Explain the law of demand with its assumptions.
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State and explain the ‘law of demand’ with its exceptions.
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During depression _____________ budget is preferable. (balanced/surplus deficit/zero)
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Distinguish between the following
Revenue budget and Capital budget.
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Explain the types of a government budget.
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Fill in the blank using proper alternative given in the bracket:
Market demand is a total demand of...............buyers.
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Define or explain the following concept.
Market Demand .
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Explain with reason whether you ‘agree’ or ‘disagree’ with the following statement:
The law of 'diminishing marginal utility' is important in the practice?
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Match the following:
| Group ‘A’ | Group ‘B’ | ||
| a) | Marginal utility | 1) | Price Discrimination |
| b) | Medicines | 2) | Legal tender money |
| c) | Monopoly | 3) | Government bank |
| d) | Currency Notes | 4) | Utility from last unit. |
| e) | Central Bank | 5) | Inelastic demand |
| 6) | Commercial bank | ||
| 7) | Utility of all units | ||
| 8) | Elastic demand |
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Write explanatory note.
Components of Government budget.
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State with reason, whether you Agree or Disagree with the following statement.
The demand curve slopes downward from left to right.
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Write explanatory notes or answer the following.
Aggregate demand
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Explain any four exceptions of the law of Diminishing marginal utility.
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State with reason whether you agree or disagree with the following statement.
When government expenditure is greater than government revenue, it is called Surplus Budget.
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State with reasons whether you ‘agree’ or ‘disagree’ with the following statement.
Demand curve slopes downward from left to right.
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Statements that highlight the significance of index numbers.
- Index numbers are useful for making future predictions.
- Index numbers help in the measurement of inflation.
- Index numbers help to frame suitable policies.
- Index numbers can be misused.
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In the law of diminishing marginal utility, Alfred Marshall assumes that the marginal utility of money ______.
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As per the law of diminishing marginal utility, the measurement of utility is assumed to be _____.
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