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What is the elasticity of demand?
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Write whether the following statement is True or False:
Price theory is the base of micro economic analysis.
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State whether the following statement isTrue or False with reason:
The concept of elasticity of demand is useful in economic theory.
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Write explanatory note.
Government expenditure.
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The law of equi-marginal utility is based on the law of _________.
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Give reasons or explain the following statements
Demand for basic necessities is inelastic.
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State whether the following statements are TRUE or FALSE :
The demand of foodgrains is inelastic.
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What is meant by Perfect competition?
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Fill in the blanks with appropriate alternatives given in the bracket.
If the price of the inferior goods falls, the demand for them will ________.
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Fill in the blanks with appropriate alternatives given in the bracket.
Demand elasticity can be measured from demand curve by ___________ method.
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Do you agree with the following statement? Give reason.
Micro Economics is known as income theory.
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Match the following groups:
| Group A | Group B | ||
| 1. | Deficit budget | a. | Tax revenue |
| 2. | Government budget | b. | Capital receipts |
| 3. | Fees, license fee | c. | Irrigation |
| 4. | Borrowings | d. | Non-tax revenue |
| 5. | Plan expenditure | e. | One year |
| f. | Government expenditure > Government revenue | ||
| g. |
Two years |
||
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State whether the following statement is true or false.
The budget is a monthly statement.
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Define or Explain.
Budget
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The demand for salt is ______.
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Fill in the blank with appropriate alternatives given below:
Income elasticity of demand for inferior goods is __________.
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Fill in the blank with appropriate alternatives given below:
Perfectly elastic demand curve is ________________.
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Fill in the blank with appropriate alternatives given below:
Cross elasticity of demand is applicable to ____________ goods.
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Fill in the blank with appropriate alternatives given below:
The slope of demand curve is _______________ in case of inelastic demand.
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State whether the following statement is TRUE and FALSE.
Demand for luxuries is elastic.
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