HSC Commerce 12th Board ExamMaharashtra State Board
Share
Notifications

View all notifications

Micheal Vaz solutions for 12th Board Exam Economics chapter 4 - Elasticity of Demand

Login
Create free account


      Forgot password?

Chapters

Micheal Vaz Micheal Vaz Class 12 Economics

Micheal Vaz Class 12 Economics - Shaalaa.com

Chapter 4: Elasticity of Demand

OthersExercise

Chapter 4: Elasticity of Demand Exercise Exercise solutions [Pages 31 - 32]

Q 1.1 | Page 31

Fill in the blank with appropriate alternatives given below:

The demand for salt is _______________.

  • elasticity

  • inelastic

  • infinite elastic

  • unitary elastic

Exercise | Q 1.2 | Page 31

Fill in the blank with appropriate alternatives given below:

Income elasticity of demand for inferior goods is __________.

  • positive

  • negative

  • zero

  • greater than one

Exercise | Q 1.3 | Page 31

Fill in the blank with appropriate alternatives given below:

Perfectly elastic demand curve is ________________.

  • horizontal to OX axis

  • horizontal to OY axis

  • flatter

  • steeper

Exercise | Q 1.4 | Page 31

Fill in the blank with appropriate alternatives given below:

Cross elasticity of demand is applicable to ____________ goods.

  • unrelated

  • substitute

  • inferior

  • natural

Exercise | Q 1.5 | Page 31

Fill in the blank with appropriate alternatives given below:

The slope of demand curve is _______________ in case of inelastic demand.

  • flatter

  • steeper

  • horizontal

  • vertical

Exercise | Q 2 | Page 31

Match the following:
 

Group A
Group B
1. Cars and petrol
a. Elastic demand
2. Point method
b. Complementary
3. Necessary goods
c. Geometric method
 
d. Inelastic demand
Exercise | Q 3.1 | Page 31

State whether the following statement is TRUE and FALSE.

Demand for luxuries is elastic.

Exercise | Q 3.2 | Page 31

State whether the following statement is TRUE and FALSE.

Perfectly inelastic demand curve is parallel to the X axis.

Exercise | Q 3.3 | Page 31

State whether the following statement is TRUE and FALSE.

Total outlay is price multiplied by quantity.

Exercise | Q 3.4 | Page 31

State whether the following statement is TRUE and FALSE.

Unitary Elastic Demand rarely occurs in practice.

Exercise | Q 3.5 | Page 31

State whether the following statement is TRUE and FALSE.

Concept of Elasticity of Demand is useful for finance minister.

Exercise | Q 13 | Page 32

Answer the detail :

What are the types of Price Elasticity of Demand?

Chapter 4: Elasticity of Demand Exercise Exercise solutions [Pages 31 - 313]

Exercise | Q 1.1 | Page 31

Define or explain the following concept:

Cross Elasticity of Demand

Exercise | Q 1.2 | Page 31

Define or explain the following concept:

Unitary Elastic Demand

Exercise | Q 1.3 | Page 31

Define or explain the following concept:

 Income Elasticity of Demand

Exercise | Q 1.4 | Page 31

Define or explain the following concept:

Elastic Demand

Exercise | Q 2.1 | Page 31

Give reason or explain the following statement:

Demand for necessaries is inelastic.

Exercise | Q 2.2 | Page 313

Give reason or explain the following statement:

Demand for habitual goods is inelastic.

Exercise | Q 2.3 | Page 131

Give reason or explain the following statement:

Concept of Elasticity of Demand helps trade union leaders.

Exercise | Q 2.4 | Page 31

Give reason or explain the following statement:

Demand for commodity having multiple uses has elastic demand.

Exercise | Q 2.5 | Page 31

Give reason or explain the following statement:

Demand for goods having snob appeal has elastic demand.

Chapter 4: Elasticity of Demand Exercise Exercise solutions [Page 32]

Exercise | Q 1.1 | Page 32

Distinguish between:

Perfectly elastic demand and perfectly inelastic demand.

Exercise | Q 1.2 | Page 32

Distinguish between:

Relatively elastic demand and relatively inelastic demand.

Exercise | Q 2.1 | Page 32

Write short note on:

Geometric method

Exercise | Q 2.2 | Page 32

Write short note on:

Ratio method

Chapter 4: Elasticity of Demand Exercise Exercise solutions [Page 32]

Exercise | Q 1 | Page 32

Answer the following question :

Explain the concept of Elasticity of Demand

Exercise | Q 2 | Page 32

Answer the following question :

Explain the importance of concept of Elasticity of Demand for international trade.

Chapter 4: Elasticity of Demand Exercise Exercise solutions [Page 32]

Exercise | Q 1 | Page 32

State with reason whether you agree or disagree with the following statement.

Various factors influence Elasticity of Demand

Exercise | Q 2 | Page 32

State with reason whether you agree or disagree with the following statement.

Total outlay method is one of the methods of measuring Elasticity of Demand.

Chapter 4: Elasticity of Demand Exercise Exercise solutions [Page 32]

Exercise | Q 1 | Page 32

Answer the detail :

Explain Ratio method and Geometric method of measuring Elasticity of Demand.

Exercise | Q 2 | Page 32

Answer the detail :

What are the types of Price Elasticity of Demand?

Chapter 4: Elasticity of Demand

OthersExercise

Micheal Vaz Micheal Vaz Class 12 Economics

Micheal Vaz Class 12 Economics - Shaalaa.com

Micheal Vaz solutions for 12th Board Exam Economics chapter 4 - Elasticity of Demand

Micheal Vaz solutions for 12th Board Exam Eco chapter 4 (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 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 4 Elasticity of Demand 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 Elasticity of Demand 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.

Get the free view of chapter 4 Elasticity of Demand 12th Board Exam extra questions for Eco and can use Shaalaa.com to keep it handy for your exam preparation

S
View in app×