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

Find the odd word out:

Types of demand:

Income elasticity of demand for inferior goods is negative.

Write short notes Significance of price elasticity of demand.

Explain any 'two methods' of measuring price elasticity of demand.

Write short notes on the Proportional method of measuring the elasticity of demand.

Write a short note on factors determining elasticity of demand.

Explain with reason, whether you agree or disagree with the following statement:

Price elasticity of demand can not be measured by using geometric method.

State whether the following statement is True or False :

Concept of elasticity of demand is useful for finance minister.

Define or explain the following concepts (Any THREE): 

Cross elasticity of demand 

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.

Give reasons or explain the following statements  

 Demand for basic necessities is inelastic. 

State whether the following statements are TRUE or FALSE :  

The demand of foodgrains is inelastic. 

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

The demand curve is sloping down from left to right. 

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

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

Fill in the blank with appropriate alternatives given below:

Income elasticity of demand for inferior goods is __________.

Define the following concept:

Cross Elasticity of Demand

Write short answer for the following question :

Total outlay method of measuring price elasticity of demand.

Give an economic term: 

Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.