Consumer's Equilibrium and Demand (CBSE (Central Board of Secondary Education- Board Exam) Class-12 Economics): Questions 9 - 18 of 82

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Question number: 9

» Consumer's Equilibrium and Demand » Demand » Determinants of Demand

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Explain the inverse relationship between the price of a commodity and its demand.

Question number: 10

» Consumer's Equilibrium and Demand » Demand » Elasticity of Demand

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A rise in the price of a good results in an increase in expenditure on it. Is its demand elastic or inelastic?

Question number: 11

» Consumer's Equilibrium and Demand » Demand » Determinants of Demand

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Explain the effect of a rise in the prices of ‘related goods’ on the demand for a good X.

Question number: 12

» Consumer's Equilibrium and Demand » Consumer's Equilibrium

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For a consumer to be in equilibrium why must marginal rate of substitution be equal to the ratio of prices of the two goods?

Question number: 13

» Consumer's Equilibrium and Demand » Consumer's Equilibrium

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Explain the meaning of equilibrium level of income and output using savings and investment approach. Use a diagram.

Question number: 14

» Consumer's Equilibrium and Demand » Demand » Elasticity of Demand

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Explain the effects of change in income on demand for a good.

Question number: 15

» Consumer's Equilibrium and Demand » Demand » Determinants of Demand

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State any three factors that cause an ‘increase’ in demand of a commodity.

Question number: 16

» Consumer's Equilibrium and Demand » Consumer's Equilibrium

» Producer Behaviour and Supply » Producer's Equilibrium

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There is a simultaneous ‘decrease’ in demand and supply of a commodity. When will it result in:

(a) No change in equilibrium price.

(b) A fall in equilibrium price.

Use diagrams.

Question number: 17

» Consumer's Equilibrium and Demand » Consumer's Equilibrium

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Give the meaning of equilibrium price.

Question number: 18

» Consumer's Equilibrium and Demand » Demand » Elasticity of Demand

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What happens to total expenditure on a commodity when its price falls and its demand is price elastic?

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