HSC Science (Computer Science) 12th Standard Board Exam - Maharashtra State Board Important Questions for Economics

Write whether the following statement is True or False:

Salt has elastic demand.

Match the following Group ‘A’ with Group ‘B’:   

Define the concept of demand schedule.

 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 ___________. 

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.