NCERT Solutions for Class 12 Micro Economics Demand

NCERT Solutions for Class 12 Micro Economics Demand

NCERT Solutions for Class 12 Micro Economics Demand is designed and prepared by the best teachers across India. All the important topics are covered in the exercises and each answer comes with a detailed explanation to help students understand concepts better. These NCERT solutions play a crucial role in your preparation for all exams conducted by the CBSE, including the JEE.

NCERT TEXTBOOK QUESTIONS SOLVED

1. What is meant by demand? [CBSE 2005C, AI 07]

Ans. Demand is a quantity of a commodity that a consumer wishes to purchase at a given level of price and during a specified period of time.

2. Define market demand. [CBSE 2008, 12, 13]

Ans. Market demand refers to the quantity of a commodity that all the consumers are willing and able to buy, at a particular price during a given period of time.

3. Due to rise in price of commodity x the demand of commodity y falls. What type of commodity are they?

Ans. Complementary goods.

4. Due to rise in price of the commodity x, the demand of commodity y also rises. What type of commodity they are?

Ans. Substitute goods.

5. How will an increase in the price of petrol affect the demand curve of a car?

Ans. The demand curve of a car will shift to the left.

6. A fall in the income of the consumer leads to a rise in the demand for a good. What is good X called?

Ans. Inferior good.

7. What is meant by the law of demand?

Ans. It states that price of the commodity and quantity demanded are inversely related to each other when other factors remain constant (ceteris Paribus)

8. When the demand for a good rises due to a fall in its own price, what is the change in demand called?

Ans. Expansion in demand.

9. Define 'change in demand'.[CBSE Sample Paper 2008]

Ans. If demand changes due to the change in factors other than price, it is known as change in demand.

10. What causes an upward movement along a demand curve of a commodity? [CBSE Sample Paper 2010]

Ans. Rise in price of goods and fall in quantity demanded i.e., Contraction in demand.

11. Give one reason for a shift in demand curve. [AT 2012]

Ans. Change in price of substitute goods.

12. What determines the quantity of a good that the buyers demand for?

Ans. The quantity of a good that the buyers demand for is determined by the price of the goods, income, the prices of related goods, tastes, expectations, and the number of buyers.

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