HSC Arts (English Medium) 12th Standard Board Exam - Maharashtra State Board Important Questions

State whether the following statement isTrue or False with reason:                            

The concept of elasticity of demand is useful in economic theory.

Answer the following Questions. [Any Three] 

Explain the  imprtance of elasticity of demand.

 Distinguish between :

 Individual demand schedule and Market demand schedule.

Fill in the blank with appropriate alternatives given in the bracket: 

The law of demand states ________ relation between demand and price. 

fill in the blank with appropriate alternatives given in the bracket: 

 Demand for salt is ___________. 

Choose the correct answer :                

 Perfectly elastic demand curve is _________. 

Choose the correct answer :                  

Demand of labour is _______ 

 Choose the correct answer :  

 Demand of electricity for domestic purpose is _________. 

Give reasons or explain the following statements  

 Demand for basic necessities is inelastic. 

Write the answer in ‘one’ or ‘two’ paras.

What are the main determinants of aggregate demand? 

State whether the following statements are TRUE or FALSE :  

The demand of foodgrains is inelastic. 

State whether the following statements are TRUE or FALSE : 

 The demand of foodgrains is inelastic.  

The account in which the specific amount is deposited per month regularly is known as ______.

Explain the following concepts or give definitions. 

Demand 

Give reasons or explain the following statements (Any Four): 

The demand curve is sloping down from left to right. 

Write explanatory notes or answer the following.

 Aggregate demand 

Fill in the blanks with appropriate alternatives given in the bracket.

Demand elasticity can be measured from demand curve by ___________ method. 

Define or Explain the concept 

 Perfectly elastic demand  

State whether the following statements are True or False with reason: 

Demand for medicine is inelastic.