Demand and Its Determinants
Economics ⇒ Markets and Price Determination
Demand and Its Determinants starts at 11 and continues till grade 12.
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See sample questions for grade 11
A consumer increases his demand for rice when his income falls. What type of good is rice for this consumer?
Define demand in economics.
Describe the effect of advertisement on demand.
Explain how future expectations of prices can affect current demand.
Explain the concept of 'ceteris paribus' in the context of the law of demand.
Explain the difference between individual demand and market demand.
Explain the difference between movement along the demand curve and shift of the demand curve.
Explain the effect of change in population on market demand.
Explain the term 'normal good' with an example.
If the price of a good falls by 10% and the quantity demanded rises by 20%, what is the price elasticity of demand?
If the price of a good falls from ₹50 to ₹40 and the quantity demanded increases from 200 units to 250 units, calculate the price elasticity of demand using the midpoint method.
If the price of a good increases and total expenditure on the good also increases, what can you say about the price elasticity of demand?
If the price of a good increases from ₹20 to ₹30 and the quantity demanded falls from 100 units to 80 units, calculate the price elasticity of demand using the percentage method.
If the price of petrol increases, what is likely to happen to the demand for cars? Explain.
State any two exceptions to the law of demand.
State any two factors that affect the elasticity of demand.
State any two factors that can cause a shift in the demand curve.
State the law of demand.
What is meant by 'derived demand'? Give an example.
