HSC Science (General) १२ वीं कक्षा - Maharashtra State Board Question Bank Solutions for Economics

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

When price of Giffen goods fall, the demand for it increases.

Identify and explain the concept from the given illustration:

John purchased wheat flour for his bakery from the flour mill.

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

Money market plays an important role in India.

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

There is a direct relationship between the price of Giffen goods and its demand.

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

When price of Giffen goods fall, the demand for it increases.

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

When price of Giffen goods fall, the demand for it increases.

Distinguish between:

Expansion of demand and Contraction of demand.

Explain the diagram:

1. The diagram represents _______ in demand.
2. In the diagram, A movement of the demand curve is in ______ direction.

Explain the diagram:

1. The diagram represents ______ in demand.
2. In the diagram, the movement of the demand curve is in ______ direction.

The money market faces a shortage of funds due to ______.

Explain the problems faced by the money market in India.

Give economic terms:

A situation where more quantity is demanded at a lower price.

Policy that deals with public expenditure, public revenue and public debt –

Distinguish between revenue expenditure and capital expenditure. 

Explain the concepts of variation and changes in demand with the help of diagrams.

Distinguish between:

Expansion of demand and Contraction of demand

Give an economic term:

Other factors remain constant, demand falls due to a rise in price.

Complete the correlation:

Rise in price : Contraction of demand : : Fall in price : ______.

Explain the theoretical difficulties involved in the measurement of national income.

Write an explanatory answer.

Explain the practical (statistical) difficulties involved in the estimation of national income.