HSC Science (Computer Science) १२ वीं कक्षा - Maharashtra State Board Important Questions for Economics

Explain with reason, whether you agree or disagree with the following statement.

Price is the only determinant of demand

Explain the subjective factors which determine consumption function.

State with reason, whether you Agree or Disagree with the following statement. 

The demand curve slopes downward from left to right.

State with reasons whether you ‘agree’ or ‘disagree’ with the following statement.

Demand curve slopes downward from left to right.

Give an economic term:

A desire which is backed by willingness to purchase and ability to pay.

Explain any four types of demand.

Demand for the commodity having multiple uses has elastic demand.

Define or explain the following concept.

Unitary elastic demand.

Give economic term:

Degree of responsiveness of quantity demanded to change in income only.

Give economic terms:

Degree of responsiveness of a change of quantity demanded of a good to a change in its price.

Complete the correlation:

Rectangular hyperbola : ______ : Steeper demand curve : Relatively inelastic demand.

Price is the only determinant of supply.

Explain, with reason, whether you Agree or Disagree with the following statement

There is no difference between stock and supply.

Distinguish between Average Revenue and Average Cost.

Complete the correlation:

Expansion of supply : Price rises :: Contraction of supply : _______

Distinguish Between:

Expansion of supply and Contraction of supply

Explain any four exceptions to the law of supply

Write short notes on Price determination under perfect competition.

State whether the following statement is True or False with reason:    

Perfect competition means pure competition.

Explain the meaning of Monopoly with its features.