# HSEB || Important questions for Economics Class 12 (XII)

## Unit-2 Elasticity of Demand and Its Measurement

1. What is price elasticity of demand? Explain its types. [2+8]
2. Define price elasticity of demand. How is it measured with total outlay method? [2+8=10]
3. What is price elasticity of demand? Explain the different types of price elasticity of demand. [3+7=10]
4. Define price elasticity of demand. Distinguish between relatively elastic and relative inelastic price elasticity of demand. ]4+6=10]
5. What is price elasticity of demand? Explain the factors determining the elasticity of demand. [4+6=10]
6. What is cross elasticity of demand? Discuss the positive and negative cross elasticity of demand. [2+8=10]
7. What is elasticity of demand? Explain perfectly elastic and perfectly inelastic demand with diagrams. [4+6=10]
8. Explain the different types of price elasticity of demand. [10]
9. What is price elasticity of demand? What are its types? [2+8=10]

1. What are the determinants of elasticity of demand? [5]

1. What is income elasticity of demand? [2]
2. Define income elasticity of demand. [2]
3. Define cross elasticity of demand. [2]

Write Short notes on:

1. Price elasticity of demand [5]

## Unit-3 Theory of Consumer’s Behaviour

1. Explain law of substitution with the help of diagram. [10]
2. Explain the law of diminishing marginal utility. What are its exceptions? [6+4=10]
3. Explain the law of equi-marginal utility.  [10]
4. Explain the law of substitution with a diagram. [10
5. What is law of diminishing marginal utility? Explain the help of a table and diagram. [2+8=10]
6. Explain the law of substitution with the help of table and diagram. [10]
7. Explain the law of equi-marginal utility. What are its assumptions? [6+4=10]
8. Explain the law of diminishing marginal utility? What are its limitations? [6+4=10]
9. State the law of diminishing marginal utility. What are its limitations? [4+6=10]
10. Explain total and marginal utility. [5+5=10]
11. Discuss the law of substitution. Point out its limitations. [5+5=10]
12. Explain the law of diminishing marginal utility? What are its limitations? [7+3=10]
13. State and explain the law of equi-marginal utility. [2+8=10]
14. Explain the law of substitution. What are its exceptions? [7+3=10]

1. Explain the concept of consumer’s surplus. [5]
2. Mention the assumptions of law of diminishing marginal utility. [5]
3. Explain about the consumer’s surplus. [5]
4. Discuss the nature of marginal utility curve. [5]
5. Discuss the limitations of law of diminishing marginal utility? [5]
6. What are the exceptions of the law of diminishing Marginal Utility (MU)? [5]
7. What are the assumptions of law of diminishing marginal utility? [5]

1. Define marginal utility. [2]
2. What is consumer’s surplus.? [2]
3. What is diminishing marginal law of utility? [2]
4. Define law of assumption. [2]
5. Define Total Utility (TU). [2]

Write short notes on:

1. Law of diminishing marginal utility. [5]

Note: Students gives their answer their own way.