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Chapters
2: Consumer's Behavior
3: Demand Analysis
▶ 4: Elasticity of Demand
5: Producer's Behaviour
6: Forms of Market and Price Determination Under Perfect Competition
7: Factors of Production
8: Introduction to Macro Economics
9: National Income
10: Determinants of Aggregates
11: Money
12: Commercial Banking
13: Central Banking
14: Public Economics
![Micheal Vaz solutions for Economics [English] 12 Standard HSC chapter 4 - Elasticity of Demand - Shaalaa.com](/images/economics-english-12-standard-hsc_6:5f2b1b2038084cf381bfa42c826a928c.jpg "Micheal Vaz solutions for Economics [English] 12 Standard HSC chapter 4 - Elasticity of Demand")
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Solutions for Chapter 4: Elasticity of Demand
Below listed, you can find solutions for Chapter 4 of Maharashtra State Board Micheal Vaz for Economics [English] 12 Standard HSC.
Micheal Vaz solutions for Economics [English] 12 Standard HSC 4 Elasticity of Demand Exercise 1 [Pages 31 - 32]
The demand for salt is ______.
Elasticity
Inelastic
Infinite elastic
Unitary elastic
Highly elastic
Perfectly elastic
Fill in the blank with appropriate alternatives given below:
Income elasticity of demand for inferior goods is __________.
positive
negative
zero
greater than one
Fill in the blank with appropriate alternatives given below:
Perfectly elastic demand curve is ________________.
horizontal to OX axis
horizontal to OY axis
flatter
steeper
Fill in the blank with appropriate alternatives given below:
Cross elasticity of demand is applicable to ____________ goods.
unrelated
substitute
inferior
natural
Fill in the blank with appropriate alternatives given below:
The slope of demand curve is _______________ in case of inelastic demand.
flatter
steeper
horizontal
vertical
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
|
|
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d. Inelastic demand
|
State whether the following statement is TRUE and FALSE.
Demand for luxuries is elastic.
State whether the following statement is TRUE and FALSE.
Perfectly inelastic demand curve is parallel to the X axis.
State whether the following statement is TRUE and FALSE.
Total outlay is price multiplied by quantity.
State whether the following statement is TRUE and FALSE.
Unitary Elastic Demand rarely occurs in practice.
State whether the following statement is TRUE and FALSE.
Concept of Elasticity of Demand is useful for finance minister.
Explain the types of price elasticity of demand.
Micheal Vaz solutions for Economics [English] 12 Standard HSC 4 Elasticity of Demand Exercise 2 [Page 31]
Define or explain the following concept:
Cross Elasticity of Demand
Define or explain the following concept:
Unitary Elastic Demand
Define or explain the following concept:
Income Elasticity of Demand
Define or explain the following concept:
Elastic Demand
Give reason or explain the following statement:
Demand for necessaries is inelastic.
Give reason or explain the following statement:
Demand for habitual goods is inelastic.
Give reason or explain the following statement:
Concept of Elasticity of Demand helps trade union leaders.
Give reason or explain the following statement:
Demand for commodity having multiple uses has elastic demand.
Give reason or explain the following statement:
Demand for goods having snob appeal has elastic demand.
Micheal Vaz solutions for Economics [English] 12 Standard HSC 4 Elasticity of Demand Exercise 3 [Page 32]
Distinguish between perfectly elastic demand and perfectly inelastic demand.
Distinguish between Relatively elastic demand and relatively inelastic demand.
Explain the Total expenditure method and Geometric method of measuring price elasticity of demand.
Write short note on:
Ratio method
Micheal Vaz solutions for Economics [English] 12 Standard HSC 4 Elasticity of Demand Exercise 4 [Page 32]
Answer the following question :
Explain the concept of Elasticity of Demand
Answer the following question :
Explain the importance of concept of Elasticity of Demand for international trade.
Micheal Vaz solutions for Economics [English] 12 Standard HSC 4 Elasticity of Demand Exercise 5 [Page 32]
State with reason whether you agree or disagree with the following statement.
Various factors influence Elasticity of Demand
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.
Micheal Vaz solutions for Economics [English] 12 Standard HSC 4 Elasticity of Demand Exercise 6 [Page 32]
Explain the Total expenditure method and Geometric method of measuring price elasticity of demand.
Explain the types of price elasticity of demand.
Solutions for 4: Elasticity of Demand
Micheal Vaz solutions for Economics [English] 12 Standard HSC chapter 4 - Elasticity of Demand
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Concepts covered in Economics [English] 12 Standard HSC 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.
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