HSC Arts (English Medium) 12th Standard Board Exam - Maharashtra State Board Question Bank Solutions for Economics

State whether the following statement is TRUE and FALSE.

Total outlay is price multiplied by quantity.

State whether the following statement is TRUE and FALSE.

Unitary Elastic Demand rarely occurs in practice.

State whether the following statement is TRUE and FALSE.

Concept of Elasticity of Demand is useful for finance minister.

Define the following concept:

Cross Elasticity of Demand

Define or explain the following concept:

Unitary Elastic Demand

Define or explain the following concept:

 Income Elasticity of Demand

Give reason or explain the following statement:

Demand for necessaries is inelastic.

Give reason or explain the following statement:

Demand for habitual goods is inelastic.

Give reason or explain the following statement:

Concept of Elasticity of Demand helps trade union leaders.

Give reason or explain the following statement:

Demand for commodity having multiple uses has elastic demand.

Give reason or explain the following statement:

Demand for goods having snob appeal has elastic demand.

Define or Explain the following concept:

Effective Demand

Give reason or explain.

Saving may be used in future for unforeseen contingencies.

Fill in the blank using appropriate alternatives given below

The demand for perishable goods is _______

Fill in the blank using appropriate alternatives given below

The demand for perishable goods is _______

Fill in the blank using appropriate alternatives given below

The e - banking facility is provided through _________

State whether the following statement is True or False:

Demand for luxurious goods is elastic .

State whether the following statement is True or False:

Demand for luxurious goods is elastic .

Write short answer for the following question :

Total outlay method of measuring price elasticity of demand.

While estimating national income, we include only the value of final goods and services in order to ______.