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    Demand

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    negishreshth1985
    This document contains sample questions from chapters on the theory of demand and elasticity of demand from a class 11 economics textbook. It includes very short 1-mark questions testing definitions, short 3-4 mark questions requiring explanations and diagrams, and longer 6 mark questions. Some key topics covered are: - Defining demand, the law of demand, and types of goods (substitutes, complements, necessities) - Drawing and explaining demand curves and schedules - Factors affecting demand and changes in demand vs. quantity demanded - Market demand curves and reasons for downward sloping demand - Measuring price elasticity of demand using percentage and total expenditure methods - Factors influencing

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Demand

    Uploaded by

    negishreshth1985
    9 views2 pages
    This document contains sample questions from chapters on the theory of demand and elasticity of demand from a class 11 economics textbook. It includes very short 1-mark questions testing definitions, short 3-4 mark questions requiring explanations and diagrams, and longer 6 mark questions. Some key topics covered are: - Defining demand, the law of demand, and types of goods (substitutes, complements, necessities) - Drawing and explaining demand curves and schedules - Factors affecting demand and changes in demand vs. quantity demanded - Market demand curves and reasons for downward sloping demand - Measuring price elasticity of demand using percentage and total expenditure methods - Factors influencing

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    This document contains sample questions from chapters on the theory of demand and elasticity of demand from a class 11 economics textbook. It includes very short 1-mark questions testing definitions, short 3-4 mark questions requiring explanations and diagrams, and longer 6 mark questions. Some key topics covered are: - Defining demand, the law of demand, and types of goods (substitutes, complements, necessities) - Drawing and explaining demand curves and schedules - Factors affecting demand and changes in demand vs. quantity demanded - Market demand curves and reasons for downward sloping demand - Measuring price elasticity of demand using percentage and total expenditure methods - Factors influencing

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    9 views2 pages

    Demand

    Uploaded by

    negishreshth1985
    This document contains sample questions from chapters on the theory of demand and elasticity of demand from a class 11 economics textbook. It includes very short 1-mark questions testing definitions, short 3-4 mark questions requiring explanations and diagrams, and longer 6 mark questions. Some key topics covered are: - Defining demand, the law of demand, and types of goods (substitutes, complements, necessities) - Drawing and explaining demand curves and schedules - Factors affecting demand and changes in demand vs. quantity demanded - Market demand curves and reasons for downward sloping demand - Measuring price elasticity of demand using percentage and total expenditure methods - Factors influencing

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Class - XI

    Chapter – Theory of Demand

    Very short type of questions (1 mark each)

    1. Define demand
    2. State law of demand.
    3. Demand for good X decreases as price of good Y increases then the two goods are:
    A. Absolute necessities
    B. complementary good
    C. inferior goods
    D. Substitute goods
    4. If a good is absolute necessity, then its price elasticity of demand is:
    A. Zero B. Unitary C. Infinity D. Inelastic
    5. Draw a relatively inelastic demand.

    Short type of questions – (3 to 4 marks)

    1. State law of demand. Explain with a schedule and diagram.

    2. Consider two commodities Tea and Coffee. What could be the effect on demand for Tea if price of coffee falls.
    Explain with reason and suitable diagram.

    3. Government declares a compulsory festival bonus of Rs.10000/- to all workers working in the country. Explain
    the likely impact on the demand for refrigerators in the country?

    4. Distinguish between normal good and inferior good. Use examples.

    5. Distinguish between complementary good and substitute good with examples.

    6. Law of demand to holds good only under certain conditions. What are these?

    7. What does change in demand mean? Explain using diagram.

    8. What does change in quantity demanded mean? Explain using diagram.

    9. Define market demand curve. Explain with the help of a diagram.

    10. Why does demand curve slope down ward? Explain the reasons behind this.

    11. How is price elasticity of demand measured on a linear demand curve? Explain with the help of a diagram.
    Chapter – Elasticity of Demand

    Very short type of questions (1 mark each)

    1. Define price elasticity of demand.


    2. Define perfectly elastic demand.
    3. What is the shape of perfectly inelastic demand curve?
    4. What do you mean by proportionate method of price elasticity of demand?
    .
    Short type of questions - (3 to 4 marks)

    1. State and explain the percentage method of measuring Ep. Also give example.

    2. Explain the factors determining Ep.

    3. Show that if two demand curves intersect each other, the flatter demand curve is more elastic.

    4. Draw demand curves having Ep=1, Ep=0, Ep= ∞

    Application based questions (3 or 4 marks)

    1. Price of good rises from Rs4 to Rs5 / unit. As a result its demand falls from 200 units to 100 units. Calculate Ep.
    2. A 7% fall in the price of a good leads to 40% increase in demand of that good. Find out Ep.
    3. The market demand for a good at Rs 4 per unit is 100 units. The price rises and as a result its market demand
    falls to 75 units. Find out the new price if the price elasticity of demand of that good is (-) 1.
    4. The co-efficient of price elasticity of demand of a commodity is (-) 0.5. When its price is Rs 10 per unit, its
    quantity demanded are 40 units. If the price falls to Rs 5 per unit, how much will be the quantity demanded.
    5. The price elasticity of demand for good x is known to be twice that of good y. price of x falls by 6% while that of
    good x rises by 5%. What are the %age change in the quantities of x and y.
    6. A consumer buys 20 units of a good at Rs 10 per unit. When its price falls by 10%, its demand rises to 22. Find
    out price elasticity of demand.
    7. Price of a good falls from Rs 10 to Rs 8. As a result its demand rises from 80 units to 100 units. What can you say
    about price elasticity of demand by total expenditure method?
    8. A consumer spends Rs 80 on a commodity when its price is Re 1 per unit and spends Rs 96 when the price is Rs 2
    per unit. What is the price elasticity of demand for the commodity?.

    Long answer type questions (6 marks)

    1. State the factors affecting elasticity of demand.


    2. What are the various degrees of price elasticity of demand? Explain with the help of suitable curves.

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