HSC Arts (English Medium) इयत्ता १२ वी - Maharashtra State Board Question Bank Solutions for Economics

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

There are no exceptions to the law of demand.

Questions:

1. Demand Curve D₁D₁indicates ______ (1m)
2. Demand Curve D₂D₂indicates______ (1m)
3. Name the above diagram and explain. (2m)

Questions:

1. Diagram’ A ‘represents _____in demand (1m)
2. Diagram ‘B’ represents _____in demand (1m) 
3. In diagram ‘A’ movement of demand curve is in_____ direction (1m)
4. In diagram ‘B’ movement of demand curve is in______ direction (1m)

PASSAGE

Mona visits a shopping mall near her residence. She shops for monthly groceries which include rice, wheat, sugar, cooking oil and pulses. She purchases additional quantities of sugar much more than her monthly requirement anticipating that prices may rise in the coming days due to festivities.

She observes two different qualities of tur dal out of which one quality is inferior and the other is superior. She does not purchase the low quality tur dal even though its price is comparatively lower. Instead she prefers to buy superior quality tur dal.

1. Identify the exception to the law of demand in the given passage with reference to purchase of additional quantities of sugar much more than monthly requirement anticipating that prices may rise in the coming days due to festivities (1mark)
2. Identify the kind of good with reference to low quality tur dal (1mark)
3. Express your personal opinion based on the above information. (2 marks)

• Assertion (A): The money market economizes the use of cash.
• Reasoning (R): The money market deals with financial instruments that are close substitutes for money.

Assertion (A): Money market economizes use of cash.

Reasoning (R): Money market deals with financial instruments that are close substitutes of money.

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 reasons 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 statements:

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.

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

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

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 the following:

Balance of payments and Balance of trade.

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.