HSC Science (General) 12th Standard Board Exam - Maharashtra State Board Question Bank Solutions for Economics

Write whether the following statement is True or False:

Salt has elastic demand.

Define the concept of demand schedule.

Define the concept of demand schedule.

Define or explain the concept of Lender of the last resort .

State whether the following statement isTrue or False with reason:                            

The concept of elasticity of demand is useful in economic theory.

State whether the following statement is True or False with reason:

Central Bank works for profit.

 Distinguish between :

 Individual demand schedule and Market demand schedule.

 Distinguish between :

 Individual demand schedule and Market demand schedule.

Write Explanatory answer.

State and explain the law of demand with its exception. 

Write Explanatory answer.

State and explain the law of demand with its exception. 

State and explain the law of supply with exceptions.

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: 

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 ___________. 

fill in the blank with appropriate alternatives given in the bracket: 

 Demand for salt is ___________. 

Give reasons or explain the following statements  

 Demand for basic necessities is inelastic. 

Write the answer in ‘one’ or ‘two’ paras.

What are the main determinants of aggregate demand? 

Write the answer in ‘one’ or ‘two’ paras.

What are the main determinants of aggregate demand?