MCQ Chapter 3A Economics Class 12 Maharashtra Board Demand Analysis 1. What is an example of complementary or joint demand?Tea and coffeeCar and fuelElectricity for multiple usesSugar and jaggeryQuestion 1 of 202. What is composite demand?Demand for goods used in productionDemand for a commodity with multiple usesDemand for substitute goodsDemand for prestige goodsQuestion 2 of 203. What is competitive demand?Demand for complementary goodsDemand for goods that are substitutesDemand for goods with multiple usesDemand for producer goodsQuestion 3 of 204. Which factor largely determines the demand for a commodity?Size of populationPriceIncomeTastesQuestion 4 of 205. How does a rise in consumer income affect demand?It decreases demandIt increases demandIt has no effectIt only affects substitute goodsQuestion 5 of 206. What happens to demand for a cheaper substitute good when the price of a commodity rises?It decreasesIt remains constantIt increasesIt becomes compositeQuestion 6 of 207. How does a rise in the price of fuel affect the demand for cars?It increasesIt decreasesIt remains constantIt becomes competitiveQuestion 7 of 208. What happens to the demand for a necessity like medicine regardless of price?It decreasesIt remains the sameIt increasesIt becomes compositeQuestion 8 of 209. How does a larger population affect demand for a commodity?It decreases demandIt increases demandIt has no effectIt only affects substitute goodsQuestion 9 of 2010. If consumers expect prices to fall in the future, what happens to current demand?It increasesIt decreasesIt remains constantIt becomes competitiveQuestion 10 of 2011. How do advertisements influence demand?They reduce demandThey change consumer preferences and increase demandThey have no effectThey only affect prestige goodsQuestion 11 of 2012. How do tastes and habits influence demand?They have no effectThey decrease demandThey increase demand for preferred goodsThey only affect composite demandQuestion 12 of 2013. What happens to demand when a commodity goes out of fashion?It increasesIt decreasesIt remains constantIt becomes derivedQuestion 13 of 2014. How do high taxes affect the demand for goods or services?They increase demandThey decrease demandThey have no effectThey only affect necessitiesQuestion 14 of 2015. Who introduced the law of demand?BenhamAlfred MarshallRobert GiffenAdam SmithQuestion 15 of 2016. What does the law of demand state?Demand increases as price risesDemand decreases as price risesDemand is unrelated to priceDemand depends only on incomeQuestion 16 of 2017. How is the law of demand symbolically expressed?Dx = f(Y)Dx = f(Px)Dx = f(T)Dx = f(Pz)Question 17 of 2018. What is an assumption of the law of demand regarding income?Income should riseIncome should remain constantIncome should fallIncome is irrelevantQuestion 18 of 2019. What is assumed about the size of the population in the law of demand?It increasesIt remains unchangedIt decreasesIt is irrelevantQuestion 19 of 2020. What is assumed about the prices of substitute goods in the law of demand?They riseThey fallThey remain constantThey are irrelevantQuestion 20 of 20 Loading...
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