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प्रश्न
Demand for electricity is elastic.
उत्तर
True. Demand for electricity is fairly elastic. Electricity is used for various purposes. As the price rises the consumers would cut back the consumption of electricity and use it only essential avoiding any wastages. In this way demand for electricity is responsive to changes in its price.
APPEARS IN
संबंधित प्रश्न
| Group 'A' | Group 'B' | ||
| a. | Pen and ink | 1 | Quantity-price |
| b. | Revenue | 2 | Accident |
| c. | Insurable risk | 3 | Transfer income |
| d. | Unemployment allowance | 4 | Short period |
| e. | Reverse repo rate | 5 | Long period |
| 6 | Change in demand | ||
| 7 | Joint demand | ||
| 8 | Quantity * price |
Demand for perishable goods is inelastic.
Define demand. Name the factors affecting market demand.
When does ‘decrease’ in demand take place?
Compare inelastic demand with perfectly inelastic demand.
Explain the problem of what to produce.
Any statement above demand for a good is considered complete only when the following is/are mentioned in it. ( choose the correct alternative)
a) Price of the good
b) Quantity of good
c) Period of time
d) All of the above
Demand for a good is termed inelastic through the expenditure approach when if (choose the correct alternative)
a) Price of good falls, expenditure on it rises
b) Price of the good falls, expenditure in it falls
c) Price of the good falls, expenditure on it remains unchanged
d) Price of the good rises, expenditure in it falls
Distinguish between ‘increase in demand’ and increase in quantity demanded of a good.
When the income of the consumer falls the impact on a price-demand curve of an inferior good is: (choose the correct alternative)
a. Shifts to the right.
b. Shifts of the left.
c. There is upward movement along the curve.
d. There is downward movement along the curve
Give reason or Explain the following statement :
Demand for habitually used goods is inelastic.
Define or explain the following concept :
Effective demand .
Answer the following question.
State and explain the law of demand.
Write whether the following statement is True or False:
Salt has elastic demand.
Define or explain the concept of Demand schedule.
Distinguish between :
Individual demand schedule and Market demand schedule.
Fill in the blank with appropriate alternatives given below
When price of commodity rises, the demand for it ______________.
Fill in the blank with appropriate alternatives given below:
When less is purchased at the constant price, it is called _______ in demand.
Fill in the blank with appropriate alternatives given below:
When the price of petrol goes up, demand of cars will ___________.
Fill in the blank with appropriate alternatives given below:
Indirect demand is also known as _____________ demand.
State whether the following statement is TRUE and FALSE
Desire means demand.
State whether the following statement is TRUE and FALSE
Quantity demanded varies directly with price.
State whether the following statement is TRUE and FALSE
Law of demand is explained by Prof. Robbins.
Define or explain the following concept:
Direct demand
Give reason or explain the following statement.
Increase in demand indicates a rightward shift in the demand curve.
Distinguish between Desire and Demand.
Answer the following question.
Discuss the relationship between the income of the consumer and demand for a commodity with respect to normal goods, inferior goods, and necessities.
Distinguish between normal goods and inferior goods, with examples
If the income of a consumer increases, discuss briefly its likely impact on the demand for a inferior good, Good X.
Choose the correct answer from given options
In the given figure X1Y1 and X2Y2 are Production Possibility Curves in two different periods T1 and T2 respectively for Good X and Good Y. A1 and A2 represent actual outputs and P1 and P2 represent potential outputs respectively in the two times periods.
The change in actual output of Goods X and Y over the two periods would be represented by a movement from __________.
Which of the following points relates to the transaction demand for money?
Law of demand states the ______ relationship between price and quantity demanded.
Increase in price of substitute goods leads to ______
From the set of statements given in Column A and Column B, choose the correct pair of statement:
| Column A | Column B |
| 1. Reduction of pollution | (a) Microeconomics |
| 2. Problems due to unemployment | (b) Microeconomics |
| 3. Shift in the demand curve | (c) Microeconomics |
| 4. Government expenditure on building of roads | (d) Microeconomics |
Are the concepts of demand for domestic goods and domestic demand for goods the same?
Identify the correct pair of items from the following Columns I and II:
| Column I | Column II |
| (1) Utility | (a) Bread and butter |
| (2) Normal Goods | (b) Rise in price |
| (3) Contraction in demand | (c) Capacity of a commodity to satisfy human wants. |
| (4) Complementary goods | (d) Positively related |
Identify the correct pair of items from the following Columns I and II:
| Column I | Column II |
| (1) Budget Line | (a) Normal goods |
| (2) Bajra | (b) Inferior goods |
| (3) Consumer equilibrium | (c) Luxurious goods |
| (4) Elastic Demand | (d) M = Px*x + py*y |
What will be the effect on equilibrium price and equilibrium quantity when income increases in case of normal goods?
Identify the two cost curves which start from the same point on the Y-axis.
Aggregate demand can be decreased by:
Which of the following statements is correct with respect to the correction of Excess Demand?
Which of the following statements is true?
Which of the following statements is false?
Identify the market form which has indeterminate demand curve:
Read the following news report and answer the Q.97-Q.100 on the basis of the same:
The quantity of a commodity that a consumer is willing to buy and is able to afford, given the prices of goods and the consumer's tastes and preferences is called demand for the commodity. Whenever one or more of these variables change, the quantity of the good Chosen by the consumer is likely to change as well. The relation between the consumer's optimal choice of the quantity of a good and its price is very important and this relation is called the demand function. Thus, the consumer's demand function for a good gives the amount of the good that the consumer chooses at different levels of its price when the other things remain unchanged.
Assertion: The income of the consumers remains unchanged
Reason: Commodity should be a normal good.
Select the correct alternative from the following.
Which of the following is the reason behind the downward slope of demand option?
If there is no change in the demand for commodity X, even after a rise in its price, then its demand is ______
Assertion (A): Demand deposits are not legal tenders.
Reason (R): They are with the bank, so only can be used as a legal tender when cheques are issued for the transfer.
Read the passage given below and answer the questions that follow.
|
In India, Fixed deposits have long been a favourite investment choice of people, especially senior citizens, as it promise steady returns. It attracts those who are seeking a stable income. But it’s an illusion in the period of inflation. Inflation is the rate at which the general level of prices for goods and services rises, subsequently eroding the purchasing power of money. In simple terms, what money could buy today might not a few years down the line. Fixed deposits are financial instruments offered by banks where you deposit a lump sum amount for a fixed period at a predetermined rate of interest. Consider an investment of Rs 1 crore in a fixed deposit at a 6% annual interest rate and the annual rate of inflation is 5%. By the 10th year your pre inflation return is 1.79 crore, but post inflation it’s just 1.10 crore. The nominal value of investment in fixed deposits may appear to grow, inflation significantly diminishes their real value and purchasing power over time.
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- What is the theme of the extract? (2)
- Differentiate between Demand pull and Cost push inflation. (2)
- What are the demand deposits and time deposits? (2)
- Since 1998 RBI has been using new measures of money supply, M0, M1, M2 and M3. Which one of these measures incorporates fixed deposit as one of its components? Mention the other components of that measure. (2)
