ISC (Arts) Class 12 - CISCE Important Questions for Economics

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Discuss any four factors affecting price elasticity of demand.

Appears in 2 question papers
Chapter: [0.012] Elasticity of Demand
Concept: Elasticity of Demand

Explain any four exceptions to the law of supply

Appears in 2 question papers
Chapter: [0.013000000000000001] Supply
Concept: Concept of Supply - Supply Schedule and Supply Curve

Answer the following question.
With the help of a diagram, show the circular flow of income in a two-sector model with Savings and Investment.

Appears in 2 question papers
Chapter: [6.01] Circular Flow of Income.
Concept: Circular Flow of Income (Two Sector Model)

Answer the following question. 
Define marginal utility. When can it be negative?

Appears in 1 question paper
Chapter: [0.011000000000000001] Demand
Concept: Total Utility and Marginal Utility

Answer the following question.
Discuss the relationship between the income of the consumer and demand for a commodity with respect to normal goods, inferior goods, and necessities.

Appears in 1 question paper
Chapter: [0.011000000000000001] Demand
Concept: Demand

Answer the following question.
Differentiate between the extension of demand and an increase in demand, using diagrams.

Appears in 1 question paper
Chapter: [0.011000000000000001] Demand
Concept: Movement Along and Shifts in the Demand Curve

Answer the following question.
Explain with the help of a diagram the consumer’s equilibrium through utility approach.

Appears in 1 question paper
Chapter: [0.011000000000000001] Demand
Concept: Conditions of Consumer's Equilibrium Using Marginal Utility Analysis

Answer the following question.
Discuss any two properties of the indifference curve. 

Appears in 1 question paper
Chapter: [0.011000000000000001] Demand
Concept: Properties of Indifference Curve

The aggregate utility obtained from the consumption of a specific unit of a commodity is called ______.

Appears in 1 question paper
Chapter: [0.011000000000000001] Demand
Concept: Cardinal Approach (Utility Analysis)

The figure given below shows the relation between the quantity demanded for the good X and the price of the good Z. What type of goods are X and Z?

Appears in 1 question paper
Chapter: [0.011000000000000001] Demand
Concept: Demand

With the help of a diagram, explain how the consumer will attain equilibrium on the consumption of a single commodity at a given price.

Appears in 1 question paper
Chapter: [0.011000000000000001] Demand
Concept: Consumer's Equilibrium

Answer the following question.
Draw diagrams to show the elasticity of demand when it is:
(i) Greater than one
(ii) Less than one
(iii) Unity

Appears in 1 question paper
Chapter: [0.012] Elasticity of Demand
Concept: Elasticity of Demand

Answer the following question.
Explain the geometric method of calculating the elasticity of supply.

Appears in 1 question paper
Chapter: [0.012] Elasticity of Demand
Concept: Degrees of Elasticity of Demand

If the price of a commodity and total expenditure on that commodity change in the same direction, the price elasticity of demand will be ______.

Appears in 1 question paper
Chapter: [0.012] Elasticity of Demand
Concept: Type of Elasticity of Demand

The price of a good decreases from ₹100 to 80 per unit. If the price elasticity of demand for the good is 2 and the original quantity demanded is 30 units, calculate the new quantity demanded.

Appears in 1 question paper
Chapter: [0.012] Elasticity of Demand
Concept: Elasticity of Demand

Define income elasticity of demand. 

Appears in 1 question paper
Chapter: [0.012] Elasticity of Demand
Concept: Type of Elasticity of Demand

When can the income elasticity of demand be negative?

Appears in 1 question paper
Chapter: [0.012] Elasticity of Demand
Concept: Type of Elasticity of Demand

Which one of the following will cause a rise in the equilibrium price of rice when the demand for rice remains the same?

Appears in 1 question paper
Chapter: [0.013000000000000001] Supply
Concept: Movements Along and Shifts in Supply Curve

The price of a mobile handset has risen in the market. But the dealers have not been able to increase the supply proportionately.

What will be the price elasticity of supply for the mobile handset? Draw the supply curve to indicate the type of elasticity.

Appears in 1 question paper
Chapter: [0.013000000000000001] Supply
Concept: Measurement of Price Elasticity of Supply - Percentage-change Method

Answer the following question.
Show with the help of diagrams, the effect on equilibrium price and quantity when:
There is a fall in the price of substitute goods.

Appears in 1 question paper
Chapter: [0.013999999999999999] Market Mechanism
Concept: Market Equilibrium
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