HSC Commerce (English Medium) 12th Standard Board Exam - Maharashtra State Board Important Questions for Economics

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

 Demand for salt is ___________. 

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

What are the main determinants of aggregate demand? 

Explain the following concepts or give definitions. 

Demand 

Write explanatory notes or answer the following.

 Aggregate demand 

Define or Explain the concept 

 Perfectly elastic demand  

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

Demand for medicine is inelastic. 

Distinguish between Joint demand and Composite demand. 

Do you agree with the following statement? Give reason

Many factors influence the demand for a commodity.

Fill in the blank using appropriate alternatives given below

The demand for perishable goods is _______

The relationship between income and demand for inferior goods is ______.

Explain in detail the determinants 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.

Statements that explain Giffen’s paradox:

1. It is an exception to the law of demand.
2. It is applicable to inferior or low quality goods.
3. Demand increases when the prices of inferior goods fall
4. It was identified by Prof. Alfred Marshall.

Statements related to decrease in demand

1. It is a type of change in demand
2. It takes place due to unfavourable changes in other factors like tastes, income etc.
3. Price remains constant
4. Demand curve shifts to the right hand side of the original demand curve

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

When the prices of Giffen goods falls, demand for such goods rises.

Questions:

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

Complete the correlation.

Direct demand : Food and Mobiles : ______ : Land and Labour.

Distinguish between:

Joint/complementary demand and competitive demand.

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