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Chapters
Chapter 2: Utility Analysis
Chapter 3.1: Demand Analysis
Chapter 3.2: Elasticity of Demand
Chapter 4: Supply Analysis
Chapter 5: Forms of Market
Chapter 6: Index Numbers
Chapter 7: National Income
Chapter 8: Public Finance in India
Chapter 9: Money Market and Capital Market in India
Chapter 10: Foreign Trade of India
Chapter 3: Elasticity of Demand
Balbharati solutions for Economics 12th Standard HSC Maharashtra State Board Chapter 3 Elasticity of Demand Exercise [Pages 34 - 36]
Complete the following statement:
Price elasticity of demand on a linear demand curve at the X-axis is ________.
zero
one
infinity
less than one
Complete the following statement:
Price elasticity of demand on a linear demand curve at the Y-axis is equal to ________.
zero
one
infinity
greater than one
Complete the following statement:
Demand curve is parallel to X-axis, in the case of ______.
perfectly elastic demand
perfectly inelastic demand
relatively elastic demand
relatively inelastic demand
Complete the following statement:
When the percentage change in quantity demanded is more than the percentage change in price, the demand curve is ______.
flatter
steeper
rectangular
horizontal
Ed = 0 in case of ______.
luxuries
normal goods
necessities
comforts
Give economic term:
Degree of responsiveness of quantity demanded to change in income only.
Give economic term:
Degree of responsiveness of a change in quantity demanded of one commodity due to change in the price of another commodity.
Give economic term:
Degree of responsiveness of a change of quantity demanded of a good to a change in its price.
Give economic term:
Elasticity resulting from infinite change in quantity demanded.
Give economic term:
Elasticity resulting from a proportionate change in quantity demanded due to a proportionate change in price.
Complete the correlation:
Perfectly elastic demand : Ed = ∞ :: _______ : Ed = 0
Complete the correlation:
Rectangular hyperbola : ______ : Steeper demand curve : Relatively inelastic demand.
Complete the correlation:
Straight-line demand curve : Linear demand curve :: _______ : non linear demand curve.
Complete the correlation:
Pen and ink : ______ :: Tea and Coffee : Substitutes.
Complete the correlation:
Ratio method : Ed = `(%triangle"Q")/(%triangle"P")` :: _______ : Ed = `"Lower segment"/"Upper segment"`
Assertion and Reasoning type of question:
Assertion (A): Elasticity of demand explains that one variable is influenced by another variable.
Reasoning (R): The concept of elasticity of demand indicates the effect of price and changes in other factors on demand.
(A) is true, but (R) is false
(A) is false, but (R) is true
Both (A) and (R) are true and (R) is the correct explanation of (A)
Both (A) and (R) are true and (R) is not the correct explanation of (A)
Assertion and Reasoning type of question:
Assertion (A): A change in quantity demanded of one commodity due to a change in the price of other commodity is cross elasticity
Reasoning (R): Changes in consumer income leads to a change in the quantity demanded.
(A) is true, but (R) is false
(A) is false, but (R) is true
Both (A) and (R) are true and (R) is the correct explanation of (A)
Both (A) and (R) are true and (R) is not the correct explanation of (A)
Assertion and Reasoning type of question:
Assertion (A): Degree of price elasticity is less than one in case of relatively inelastic demand.
Reasoning (R): Change in demand is less than the change in price.
(A) is true, but (R) is false
(A) is false, but (R) is true
Both (A) and (R) are true and (R) is the correct explanation of (A)
Both (A) and (R) are true and (R) is not the correct explanation of (A)
Distinguish between Relatively elastic demand and relatively inelastic demand.
Distinguish between Perfectly elastic demand and perfectly inelastic demand.
What is ‘elasticity of demand’? Explain the factors determining elasticity of demand.
Explain the total outlay method of measuring elasticity of demand?
Explain the importance of elasticity of demand.
Identify and define the degrees of elasticity of demand from the following demand curve.
Identify and define the degrees of elasticity of demand from the following demand curve.
Identify and define the degrees of elasticity of demand from the following demand curve.
Identify and define the degrees of elasticity of demand from the following demand curve.
In the following diagram, AE is the linear demand curve of a commodity. On the basis of the given diagram state whether the following statement is True or False. Give a reason for your answer.
Demand at point ‘C’ is relatively elastic demand.
True
False
In the following diagram, AE is the linear demand curve of a commodity. On the basis of the given diagram state whether the following statement is True or False. Give a reason for your answer.
Demand at point ‘B’ is unitary elastic demand.
True
False
In the following diagram, AE is the linear demand curve of a commodity. On the basis of the given diagram state whether the following statement is True or False. Give a reason for your answer.
Demand at point ‘D’ is perfectly inelastic demand.
True
False
In the following diagram, AE is the linear demand curve of a commodity. On the basis of the given diagram state whether the following statement is True or False. Give a reason for your answer.
Demand at point ‘A’ is perfectly elastic demand.
True
False
Chapter 3: Elasticity of Demand
Balbharati solutions for Economics 12th Standard HSC Maharashtra State Board chapter 3 - Elasticity of Demand
Balbharati solutions for Economics 12th Standard HSC Maharashtra State Board chapter 3 (Elasticity of Demand) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the Maharashtra State Board Economics 12th Standard HSC Maharashtra State Board solutions in a manner that help students grasp basic concepts better and faster.
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Concepts covered in Economics 12th Standard HSC Maharashtra State Board chapter 3 Elasticity of Demand are Elasticity of Demand, Types of Elasticity of Demand, Types of Price Elasticity of Demand, Methods of Measuring Price Elasticity of Demand, Factors Influencing the Elasticity of Demand, Importance of Elasticity of Demand, Importance of Price Elasticity of Demand.
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