Download App

MICROECONOMICS CH : 5 THEORY OF DEMAND — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMICROECONOMICS CH : 5 THEORY OF DEMAND4 Marks
Question
Distinguish between individual demand and market demand.
✓

Answer

Self

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "4 Marks Question" from MICROECONOMICS CH : 5 THEORY OF DEMAND→MICROECONOMICS CH : 5 THEORY OF DEMAND — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

How does a consumer reach equilibrium position when he is buying only one commodity? Explain with the help of marginal utility schedule.
→
Price elasticity of demand of a good is (-) 1. At a price the consumer buys 60 units of the good. How many units will the consumer buy if the price falls by 10 per cent?
→
Read the following text carefully and answer the questions 1-2 on the basis of the same:
A firm produces and sells a certain amount of a good. The firm's profit is defined to be the difference between its total revenue (TR) and its total cost of production (TC). Profits are the difference between total revenue and total cost. Both total revenue and total cost increase as output increases. The gap between TR and TC is the firm's earnings net of costs. A firm wishes to maximise its profit. The firm would like to identify the quantity qo at which its profits are maximum. By definition, then, at any quantity other than qo, the firm's profits are less than at q. As long as the change in total revenue is greater than the change in total cost, profits will continue to increase.
-NCERT, 2022-23
1. Define producer's equilibrium. State the conditions of producer's equilibrium for a competitive firm.
2. Will a firm continue to produce even if it is incurring losses under perfect competition? Do you agree?
→
Find out the quartile deviation for the given individual observations $10, 20, 30, 40, 50, 60, 70$.
→
→
Fill in the blanks:
Units of Fixed Factor $($Land$)$ Units of Variable Factor $($Labour$)$ $TP_L$ $AP_L$ $MP_L$
$10$ $0$ $0$ $-$ $-$
$10$ $1$ $60$ $-$ $-$
$10$ $2$ $-$ $85$ $-$
$10$ $3$ $-$ $-$ $100$
$10$ $4$ $300$ $-$ $-$
$10$ $5$ $-$ $-$ $50$
$10$ $6$ $-$ $55$ $-$
→
Calculate weighted aggregative price index number from the following data using Paasche's method.
Commodity
Base Year
Current Year
Price (₹)
Quantity
Price (₹)
Quantity
A
10
30
12
50
B
8
15
10
25
C
6
20
6
30
D
4
10
6
20
→
Ten competitors in a beauty contest are ranked by two judges in the following order:
First Judge
3
5
8
4
7
10
2
1
6
9
Second Judge
6
4
9
8
1
2
3
10
5
7
Calculate the co-efficient of correlation.
→
What will be the effect of the following changes in total revenue on marginal revenue?
(i) Total revenue increases at a decreasing rate.
(ii) Total revenue increases at a constant rate.
→
Explain the relation between marginal cost and average cost.
Or
Explain the relationship between marginal cost and average cost with the help of a cost schedule.
→