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

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.

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.