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MCQ Chapter 3A Economics Class 12 Maharashtra Board

Demand Analysis

1. What is an exception to the law of demand involving inferior goods?

Question 1 of 20

2. Why do rich people buy more prestige goods when prices rise?

Question 2 of 20

3. What is speculation as an exception to the law of demand?

Question 3 of 20

4. What is price illusion in the context of demand?

Question 4 of 20

5. Why might consumers buy more of a commodity at a high price due to ignorance?

Question 5 of 20

6. What is an example of habitual goods as an exception to the law of demand?

Question 6 of 20

7. What is expansion of demand?

Question 7 of 20

8. What is contraction of demand?

Question 8 of 20

9. How does expansion of demand appear on a demand curve?

Question 9 of 20

10. How does contraction of demand appear on a demand curve?

Question 10 of 20

11. What causes an increase in demand?

Question 11 of 20

12. What causes a decrease in demand?

Question 12 of 20

13. How is an increase in demand represented on a graph?

Question 13 of 20

14. How is a decrease in demand represented on a graph?

Question 14 of 20

15. What is the relationship between demand for a good and the price of its substitute?

Question 15 of 20

16. What is the relationship between income and demand for inferior goods?

Question 16 of 20

17. When less units are demanded at a high price, what is it called?

Question 17 of 20

18. What is a situation where more quantity is demanded at a lower price called?

Question 18 of 20

19. What is a commodity that can be put to several uses called?

Question 19 of 20

20. What is a desire backed by willingness to purchase and ability to pay called?

Question 20 of 20


 

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