Demand True And False

Demand –True and False

Class 12 - 2017

Q1	The law of demand state inverse and proportional relationship between price and demand
Q2	Demand of a commodity falls due to rise in its price alone
Q3	As a result of fall in the number of consumers of a commodity , there will be contraction in its demand
Q4	A change in quantity demanded as a result of change in price will mean movement on the demand curve
Q5	There is increase in demand of a good when price of substitute good increases
Q6	Fall in product price causes the market demand curve to shift upward to right
Q7	If the good X and Y are substitutes , a rise in price of X will result in the rightward shift in demand curve of Y
Q8	The demand of a commodity always increases with increase in price of other good
Q9	The demand of good increases with the increase in the income of its buyers
Q10	Demand curves slopes downward from left to right

Important Questions for Unit Test Class 12 2017

Class 12

Unit Test 1

Important –Sure Shot Questions

Q1 Explain the law of variable proportion with the help of schedule and diagram

Q2 Explain the factors affecting demand

Q3 Explain the factors affecting supply

Q4 Explain the relationship between AC, AVC and MC

Q5 Explain the concept of producer’s equilibrium with the help of schedule and diagram

Q 6 Differentiate between

·         Increase in demand /supply and Decrease in demand/supply

·         Expansion in demand/supply and Contraction in demand/supply

Q7 Explain the concept of explicit cost and implicit cost

Q8 Explain the properties of PPC

Q9 Explain the factors affecting supply

Q10 Explain the revenue curves in perfect and imperfect competition

Q11 Numerical on

ü  Elasticity of demand

ü  Elasticity of supply

ü  Cost

ü  Production

ü  Revenue

ü  Producers Equilibrium

Q12 Explain the properties of PPC

Q13 Explain the properties of indifference Curve

Q15 Explain the equilibrium by Indifference Curve Analysis

ELASTICITY OF DEMAND CLASS 12 2017

CLASS 12 -2017

CHAPTER ELASTICITY OF DEMAND

PRACTICE WORKSHEET

Q1	Define price elasticity of demand
Q2	Give the formula for measuring price elasticity of demand according to percentage method
Q3	What is meant by perfectly elastic demand
Q4	When is demand for a good said to be perfectly inelastic demand
Q5	Explain a)      Price elasticity of demand is a pure number b)      Price elasticity of demand is a negative number
Q6	If the price of salt and coffee increases by the same proportion , will their quantity demanded also behave in the same manner
Q7	Price elasticity of demand for 2 goods X and Y are zero and (-)1 respectively Which of the 2 good is more elastic and why
Q8	A flatter demand curve is more elastic than a steeper demand curve at the point of intersection
Q9	Perfectly inelastic demand curve is parallel to y axis Why or Why not
Q10	The price elasticity of demand of a commodity is (-)0.5 . At a price of Rs 10 per unit , total expenditure on it is Rs 2000 . If the price reduced by 10 % Calculate demand at reduced price Answer 105