SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 chapter 3 - Demand Analysis [Latest edition]

Chapter 3: Demand Analysis

Choose the correct optionComplete the correlationGive economic termsFind the odd wordComplete the following statementsAssertion and Reasoning type questionsIdentify & explain the concepts from the given illustrationsDistinguish BetweenAnswer the followingState with reasons whether you agree or disagree with the following statementsTABLESDIAGRAMSPASSAGEAnswer in detail
Choose the correct option

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 Chapter 3 Demand Analysis Choose the correct option

Choose the correct option

Choose the correct option | Q 1

1. It is an exception to the law of demand.
2. It is applicable to inferior or low quality goods.
3. Demand increases when the prices of inferior goods fall
4. It was identified by Prof. Alfred Marshall.
• Only a

• a, b

• b, c, d

• a, b, c, d

Choose the correct option | Q 2

Statements related to decrease in demand

1. It is a type of change in demand
2. It takes place due to unfavourable changes in other factors like tastes, income etc.
3. Price remains constant
4. Demand curve shifts to the right hand side of the original demand curve
• a, b, c, d

• a, b, c

• b, c, d

• a, c, d

Complete the correlation

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 Chapter 3 Demand Analysis Complete the correlation

Complete the correlation

Complete the correlation | Q 1

Demand curve : ______ :: Supply curve : Upward

Complete the correlation | Q 2

Tea and coffee : ______ :: Electricity : Composite demand

Complete the correlation | Q 3

Steeper demand curve : Relatively inelastic demand :: Flatter demand curve: ______.

Give economic terms

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 Chapter 3 Demand Analysis Give economic terms

Give economic terms

Give economic terms | Q 1

Total demand for a commodity from all the consumers at a given price during a given period of time −

Give economic terms | Q 2

Demand for a commodity which can be put to several uses −

Find the odd word

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 Chapter 3 Demand Analysis Find the odd word

Find the odd word | Q 1

Find the odd word

Assumptions to law of demand -

• Constant level of income

• No changes in taxation policy

• No change in size of population

• Cardinal measurement

Find the odd word | Q 2

Find the odd word

Types of demand -

• Individual demand

• Direct demand

• Competitive demand

• Complementary demand

Complete the following statements

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 Chapter 3 Demand Analysis Complete the following statements

Complete the following statements

Complete the following statements | Q 1

The Law of Demand was introduced by ______.

• Prof. Alfred Marshall

• Prof. Joan Robinson

• Prof. Keynes

Assertion and Reasoning type questions

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 Chapter 3 Demand Analysis Assertion and Reasoning type questions

Assertion and Reasoning type questions

Assertion and Reasoning type questions | Q 1

Assertion (A): All desires are not demand.

Reasoning (R): In Economics, demand means a desire which is backed by willingness and ability to pay.

• (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 questions | Q 2

Assertion (A): Under exceptional cases, demand curve has a positive slope.

Reasoning (R): In exceptional cases, consumer buys more when the price of a commodity rises and buys less when the price of commodity falls.

• (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).

Identify & explain the concepts from the given illustrations

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 Chapter 3 Demand Analysis Identify & explain the concepts from the given illustrations

Identify & explain the concepts from the given illustrations | Q 1

Identify & explain the concept from the given illustration.

Kaushik purchased 10 kgs of wheat for his monthly consumption at ₹ 40/- per kg.

Identify & explain the concepts from the given illustrations | Q 2

Identify & explain the concept from the given illustratio.

Aman purchased sewing machines and furniture for his tailoring shop.

Identify & explain the concepts from the given illustrations | Q 3

Identify & explain the concept from the given illustration.

Manish purchased 100 metres of cotton textile to produce readymade shirts at his garment factory.

Distinguish Between

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 Chapter 3 Demand Analysis Distinguish Between

Distinguish Between | Q 1

Distinguish Between

Direct demand and Indirect demand

Distinguish Between | Q 2

Distinguish Between

Joint/Complementary demand and Composite demand

Distinguish Between | Q 3

Distinguish Between

Individual demand schedule and Market Demand Schedule

Distinguish Between | Q 4

Distinguish Between

Demand curve and Supply Curve

Distinguish Between | Q 5

Distinguish between

Expansion of demand and Contraction of demand.

Distinguish Between | Q 6

Distinguish between

Increase in demand and Decrease in demand.

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 Chapter 3 Demand Analysis Answer the following

Answer the following | Q 1

Explain any four types of demand

State with reasons whether you agree or disagree with the following statements

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 Chapter 3 Demand Analysis State with reasons whether you agree or disagree with the following statements

State with reasons whether you agree or disagree with the following statements | Q 1

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

All desires are demand.

State with reasons whether you agree or disagree with the following statements | Q 2

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

When the prices of Giffen goods falls, demand for such goods rises.

State with reasons whether you agree or disagree with the following statements | Q 3

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

There are no exceptions to the law of demand.

State with reasons whether you agree or disagree with the following statements | Q 4

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

There is an inverse relationship between price and demand.

TABLES

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 Chapter 3 Demand Analysis TABLES

TABLES | Q 1

Study the following table, figure, passage and answer the question given below it.

 Price of commodity ‘ X Quantity of ‘X‘ in kgs. Market demand Consumer A Consumer B Consumer C A+B+C 10 5 10 15 30 8 10 15 ______ 45 6 ______ 20 25 60 4 20 ______ 30 75 2 25 30 35 ______ 1 30 35 40 105
1. Complete the table. (2m)
2. Draw Market demand curve based on above Market demand schedule and label it. (2m)
DIAGRAMS

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 Chapter 3 Demand Analysis DIAGRAMS

DIAGRAMS | Q 1

Questions:

1. Demand Curve D1D1indicates ______ (1m)
2. Demand Curve D2D2indicates______ (1m)
3. Name the above diagram and explain. (2m)
DIAGRAMS | Q 2

Questions:

1. Diagram’ A ‘represents _____in demand (1m)
2. Diagram ‘B’ represents _____in demand (1m)
3. In diagram ‘A’ movement of demand curve is in_____ direction (1m)
4. In diagram ‘B’ movement of demand curve is in______ direction (1m)
PASSAGE

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 Chapter 3 Demand Analysis PASSAGE

PASSAGE | Q 1

PASSAGE

Mona visits a shopping mall near her residence. She shops for monthly groceries which include rice, wheat, sugar, cooking oil and pulses. She purchases additional quantities of sugar much more than her monthly requirement anticipating that prices may rise in the coming days due to festivities.

1. Identify the exception to the law of demand in the given passage with reference to purchase of additional quantities of sugar much more than monthly requirement anticipating that prices may rise in the coming days due to festivities (1mark)
2. Identify the kind of good with reference to low quality tur dal (1mark)
3. Express your personal opinion based on the above information. (2 marks)

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 Chapter 3 Demand Analysis Answer in detail

Answer in detail | Q 1

State and explain the ‘law of demand’ with its exceptions.

Chapter 3: Demand Analysis

Choose the correct optionComplete the correlationGive economic termsFind the odd wordComplete the following statementsAssertion and Reasoning type questionsIdentify & explain the concepts from the given illustrationsDistinguish BetweenAnswer the followingState with reasons whether you agree or disagree with the following statementsTABLESDIAGRAMSPASSAGEAnswer in detail

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 chapter 3 - Demand Analysis

SCERT Maharashtra Question Bank solutions for 12th Standard HSC Economics Maharashtra State Board 2021 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 12th Standard HSC Economics Maharashtra State Board 2021 solutions in a manner that help students grasp basic concepts better and faster.

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Concepts covered in 12th Standard HSC Economics Maharashtra State Board 2021 chapter 3 Demand Analysis are Demand Analysis, Law of Demand, Exceptions to the Law of Demand, Factors of Demand, Demand Curve and Its Slope, Concept of Aggregate Demand and Aggregate Supply, Demand Curve and Its Slope.

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