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Match the following Group ‘A’ with Group ‘B’:
| Group ‘A’ | Group ‘B’ |
| (a) Electricity | (1) Joint demand |
| (b) Perfectly elastic demand | (2) Lord Keynes |
| (c) Aggregate supply | (3) Prof. Pigou |
| (d) Propensity to consume | (4) Fixed deposits |
| (e) Higher interest rate | (5) Composite demand |
| (6) Demand curve parallel to ‘X’ axis | |
| (7) Natural resources |
Concept: Types of Demand
Define the concept of demand schedule.
Concept: Concept of Demand
Distinguish between :
Individual demand schedule and Market demand schedule.
Concept: Concept of Demand
Fill in the blank with appropriate alternatives given in the bracket:
The law of demand states ________ relation between demand and price.
Concept: Concept of Demand
fill in the blank with appropriate alternatives given in the bracket:
Demand for salt is ___________.
Concept: Concept of Demand
Write the answer in ‘one’ or ‘two’ paras.
What are the main determinants of aggregate demand?
Concept: Concept of Demand
Explain the following concepts or give definitions.
Demand
Concept: Concept of Demand
Write explanatory notes or answer the following.
Aggregate demand
Concept: Demand Curve
Define or Explain the concept
Perfectly elastic demand
Concept: Types of Demand
State whether the following statements are True or False with reason:
Demand for medicine is inelastic.
Concept: Types of Demand
Distinguish between Joint demand and Composite demand.
Concept: Types of Demand
Do you agree with the following statement? Give reason
Many factors influence the demand for a commodity.
Concept: Concept of Demand
Fill in the blank using appropriate alternatives given below
The demand for perishable goods is _______
Concept: Concept of Demand
The relationship between income and demand for inferior goods is ______.
Concept: Demand Schedule
Explain in detail the determinants of demand.
Concept: Determinants of Demand
Explain the diagram:
- The diagram represents _______ in demand.
- In the diagram, A movement of the demand curve is in ______ direction.
Concept: Variations in Demand
Explain the diagram:
- The diagram represents ______ in demand.
- In the diagram, the movement of the demand curve is in ______ direction.
Concept: Variations in Demand
Statements that explain Giffen’s paradox:
- It is an exception to the law of demand.
- It is applicable to inferior or low quality goods.
- Demand increases when the prices of inferior goods fall
- It was identified by Prof. Alfred Marshall.
Concept: Exceptions to the Law of Demand
Statements related to decrease in demand
- It is a type of change in demand
- It takes place due to unfavourable changes in other factors like tastes, income etc.
- Price remains constant
- Demand curve shifts to the right hand side of the original demand curve
Concept: 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.
Concept: Exceptions to the Law of Demand
