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

Study the following table, figure, passage and answer the question given below it.

1. Complete the table (2m)
2. Identify any two Intra Marginal Units (1m)
3. Identify any two Extra Marginal Units (1m)

Complete the correlation:

Macro Economics : ______ :: Micro Economics : Price theory.

Complete the correlation.

Personal Income tax : ______ :: Goods and service tax (GST) : Indirect tax.

Explain various sources of public revenue.

Assertion (A): In perfect competition, price is determined by the forces of demand and supply.

Reasoning (R): The number of buyers and sellers is so large that one person can not influences prices.

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.

Homogeneous product is a feature of this market.

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

Complete the correlation:

Macro economic theory : Income and employment : : Micro economics : ______

Homogeneous product is a feature of this market.

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

Homogeneous product is a feature of this market.

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

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

The elasticity of demand gets influenced by the nature of the commodity.

Study the following table and answer the questions:

Questions:

1. Complete the above table.
2. Which type of relationship is found between the price of a pen and demand for the pen?

Find the odd word out:

Features of perfect competition:

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

The seller is a price taker in perfect competition.

Complete the correlation:

Intra marginal unit : MU > Price : : ______ : MU < Price.

Assertion (A) : A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity.

Reasoning (R) : Changes in consumers income leads to a change in the quantity demanded.

Homogeneous product is a feature of this market.

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

Explain the concept of price elasticity of demand.

Homogeneous product is a feature of this market.

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

Homogeneous product is a feature of this market.

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