Class: 12 || Subject: Economics
Unit-2 Elasticity of Demand and Its Measurement
Long Answer Questions
- What is price elasticity of demand? Explain its types. [2+8]
- Define price elasticity of demand. How is it measured with total outlay method? [2+8=10]
- What is price elasticity of demand? Explain the different types of price elasticity of demand. [3+7=10]
- Define price elasticity of demand. Distinguish between relatively elastic and relative inelastic price elasticity of demand. ]4+6=10]
- What is price elasticity of demand? Explain the factors determining the elasticity of demand. [4+6=10]
- What is cross elasticity of demand? Discuss the positive and negative cross elasticity of demand. [2+8=10]
- What is elasticity of demand? Explain perfectly elastic and perfectly inelastic demand with diagrams. [4+6=10]
- Explain the different types of price elasticity of demand. [10]
- What is price elasticity of demand? What are its types? [2+8=10]
Short Answer Queations
- What are the determinants of elasticity of demand? [5]
Very Short Answer Questions
- What is income elasticity of demand? [2]
- Define income elasticity of demand. [2]
- Define cross elasticity of demand. [2]
Write Short notes on:
- Price elasticity of demand [5]
Unit-3 Theory of Consumer’s Behaviour
Long Answer Quesitons
- Explain law of substitution with the help of diagram. [10]
- Explain the law of diminishing marginal utility. What are its exceptions? [6+4=10]
- Explain the law of equi-marginal utility. [10]
- Explain the law of substitution with a diagram. [10
- What is law of diminishing marginal utility? Explain the help of a table and diagram. [2+8=10]
- Explain the law of substitution with the help of table and diagram. [10]
- Explain the law of equi-marginal utility. What are its assumptions? [6+4=10]
- Explain the law of diminishing marginal utility? What are its limitations? [6+4=10]
- State the law of diminishing marginal utility. What are its limitations? [4+6=10]
- Explain total and marginal utility. [5+5=10]
- Discuss the law of substitution. Point out its limitations. [5+5=10]
- Explain the law of diminishing marginal utility? What are its limitations? [7+3=10]
- State and explain the law of equi-marginal utility. [2+8=10]
- Explain the law of substitution. What are its exceptions? [7+3=10]
Short Answer Questions
- Explain the concept of consumer’s surplus. [5]
- Mention the assumptions of law of diminishing marginal utility. [5]
- Explain about the consumer’s surplus. [5]
- Discuss the nature of marginal utility curve. [5]
- Discuss the limitations of law of diminishing marginal utility? [5]
- What are the exceptions of the law of diminishing Marginal Utility (MU)? [5]
- What are the assumptions of law of diminishing marginal utility? [5]
Very Short Answer Questions
- Define marginal utility. [2]
- What is consumer’s surplus.? [2]
- What is diminishing marginal law of utility? [2]
- Define law of assumption. [2]
- Define Total Utility (TU). [2]
Write short notes on:
- Law of diminishing marginal utility. [5]
Note: Students gives their answer their own way.