Chapter 3 - (A) Demand Analysis Economics Solutions for Class 12 Commerce Economics

Chapter 3 - (A) Demand Analysis

Economics Solutions for Class 12 Commerce Economics

Fill in the blanks with appropriate alternatives given in the brackets:

Match the following:

State whether the following statements are TRUE and FALSE

1. Demand curve slopes upward from left to right.

2. Desire means demand.

3. When demand increases, the demand curve shifts to the left.

4. Quantity demanded varies directly with price.

5. Law of demand is explained by Prof. Robbins.

6. Individual demand is a demand by single buyer.

Define or explain the following concepts:

1. Demand

2. Increase in demand

3. Derived demand

4. Direct demand

5. Market demand schedule

Give reasons or explain the following statements.

1. All desires are not demand.

2. Increase in demand indicates a rightward shift in the demand curve.

3. Demand curve slopes downward from left to right.

4. Demand for factors of production is derived demand.

Distinguish between:

1. Desire and demand

2. Increase in demand and decrease in demand

3. Individual demand and market demand

4. Inferior goods and superior goods

Write short notes:

1. Giffen's paradox

2. Types of demand

3. Concept of demand

Answer the following questions

What do you mean by demand? 

What are the assumptions of the Law of Demand?

Do you agree with the following statements? Give reasons

There are no exceptions to the law of demand.

Many factors influence the demand for a commodity.

Answer the following questions in brief

State and explain the law of demand.

Explain determinants of market demand.