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Micheal Vaz solutions for 12th Board Exam Economics chapter 3 - Demand Analysis

Micheal Vaz Class 12 Economics

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Micheal Vaz Micheal Vaz Class 12 Economics

Micheal Vaz Class 12 Economics - Shaalaa.com

Chapter 3: Demand Analysis

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Chapter 3: Demand Analysis Exercise Exercise solutions [Page 24]

Q 1.1 | Page 24

Fill in the blank with appropriate alternatives given below

When price of commodity rises, the demand for it ______________.

  • rises

  • contracts

  • remains constant

  • becomes negative

Exercise | Q 1.2 | Page 24

Fill in the blank with appropriate alternatives given below:

When less is purchased at the constant price, it is called _______ in demand.

  • increase

  • decrease

  • expansion

  • contraction

Exercise | Q 1.3 | Page 24

Fill in the blank with appropriate alternatives given below:

When the price of petrol goes up, demand of cars will ___________.

  • rise

  • fall 

  • not change

  • remain unchanged

Exercise | Q 1.4 | Page 24

Fill in the blank with appropriate alternatives given below:

Market demand is an aggregate of purchasing by _________ buyers.

  • some

  • all

  • one

  • two

Exercise | Q 1.5 | Page 24

Fill in the blank with appropriate alternatives given below:

Indirect demand is also known as _____________ demand.

  • derived

  • direct

  • composite

  • joint

Exercise | Q 2 | Page 24

Match the following:
 

Group A
Group B
1. Demand and price
a. Substitute goods
2. Tea and coffee
b. Inverse relation
3. Inferior goods
c. Joint demand
4. Factors of production
d. Distribution of income
5. Pen and ink
e. Composite demand
 
f. Giffen goods
 
g. Indirect demand
Exercise | Q 3.1 | Page 24

State whether the following statement is TRUE and FALSE

Demand curve slopes upward from left to right.

Exercise | Q 3.2 | Page 24

State whether the following statement is TRUE and FALSE

Desire means demand.

Exercise | Q 3.3 | Page 24

State whether the following statement is TRUE and FALSE

When demand increases, the demand curve shifts to the left.

Exercise | Q 3.4 | Page 24

State whether the following statement is TRUE and FALSE

Quantity demanded varies directly with price.

Exercise | Q 3.5 | Page 24

State whether the following statement is TRUE and FALSE

Law of demand is explained by Prof. Robbins.

Exercise | Q 3.6 | Page 24

State whether the following statement is TRUE and FALSE

Individual demand is a demand by single buyer.

Chapter 3: Demand Analysis Exercise Exercise solutions [Page 24]

Exercise | Q 1.1 | Page 24

Define or explain the following concept:

Demand

Exercise | Q 1.2 | Page 24

Define or explain the following concept:

Increase in demand

Exercise | Q 1.3 | Page 24

Define or explain the following concept:

Derived demand

Exercise | Q 1.4 | Page 24

Define or explain the following concept:

Direct demand

Exercise | Q 1.5 | Page 24

Define or explain the following concept :

Market demand schedule

Exercise | Q 2.1 | Page 24

Give reason or explain the following statement.

All desires are not demand.

Exercise | Q 2.2 | Page 24

Give reason or explain the following statement.

Increase in demand indicates a rightward shift in the demand curve.

Exercise | Q 2.3 | Page 24

Give reason or explain the following statement.

Demand curve slopes downward from left to right.

Exercise | Q 2.4 | Page 24

Give reason or explain the following statement.

Demand for factors of production is derived demand.

Chapter 3: Demand Analysis Exercise Exercise solutions [Page 24]

Exercise | Q 1.1 | Page 24

Distinguish between:

Desire and demand

Exercise | Q 1.2 | Page 24

Distinguish between:

Increase in demand and decrease in demand

Exercise | Q 1.3 | Page 24

Distinguish between:

Individual demand and market demand

Exercise | Q 1.4 | Page 24

Distinguish between:

Inferior goods and superior goods

Exercise | Q 2.1 | Page 24

Write short note:

Giffen's paradox

Exercise | Q 2.2 | Page 24

Write short note:

Types of demand

Exercise | Q 3.3 | Page 24

Write short note:

Concept of demand

Chapter 3: Demand Analysis Exercise Exercise solutions [Page 24]

Exercise | Q 1 | Page 24

Answer the following question

What do you mean by demand?

Exercise | Q 2 | Page 24

Answer the following question

What are the assumptions of the Law of Demand?

Chapter 3: Demand Analysis Exercise Exercise solutions [Page 24]

Exercise | Q 1 | Page 24

Do you agree with the following statement? Give reason

There are no exceptions to the law of demand.

Exercise | Q 2 | Page 24

Do you agree with the following statement? Give reason

Many factors influence the demand for a commodity.

Chapter 3: Demand Analysis Exercise Exercise solutions [Page 24]

Exercise | Q 1 | Page 24

Do you agree with the following statement? Give reason

State and explain the law of demand.

Exercise | Q 2 | Page 24

Do you agree with the following statement? Give reason

Explain determinants of market demand.

Chapter 3: Demand Analysis

OthersExercise

Micheal Vaz Micheal Vaz Class 12 Economics

Micheal Vaz Class 12 Economics - Shaalaa.com

Micheal Vaz solutions for 12th Board Exam Economics chapter 3 - Demand Analysis

Micheal Vaz solutions for 12th Board Exam Eco chapter 3 (Demand Analysis) 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 Micheal Vaz Class 12 Economics solutions in a manner that help students grasp basic concepts better and faster.

Further, we at Shaalaa.com provide such solutions so that students can prepare for written exams. Micheal Vaz textbook solutions can be a core help for self-study and acts as a perfect self-help guidance for students.

Concepts covered in 12th Board Exam Economics chapter 3 Demand Analysis are Demand, Demand Curve and Its Slope, Change in Demand, Type of Elasticity of Demand, Elasticity of Demand, Measurement of Elasticity of Demand, Types of Demand, Factors of Demand, Factors Affecting Price Elasticity of Demand, Importance of Price Elasticity of Demand.

Using Micheal Vaz 12th Board Exam solutions Demand Analysis exercise by students are an easy way to prepare for the exams, as they involve solutions arranged chapter-wise also page wise. The questions involved in Micheal Vaz Solutions are important questions that can be asked in the final exam. Maximum students of Maharashtra State Board 12th Board Exam prefer Micheal Vaz Textbook Solutions to score more in exam.

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