SHREE SAMARTH CLASSES

An eye on Quality

Sub:-Economic
Topic:- Demand, Utility, Forms of Market)

TIME

MARKS 40

Q. 1A) Fill in the blanks with appropriate alternatives

1
2
3
4

4 Marks

When price rises, Demand_____. ( rise, decrease, contracts)

Demand elasticity of habitual goods is _____. ( more elastic, less elastic, zero elastic)
There is a lack of ______ in monopoly. ( competition, sellers)
Monopolist means a ______. (single seller, single buyer).

B) Match the following columns

Columns A
1 Legal monopoly
2 Joint demand
3 Tea or Coffee
4 Oligopoly

4 Marks
Columns B
a) Demand for complementary goods
b) supply
c) Trademark
d) Perfect competition
e) Few sellers

C) State whether the following statements are true or false.

4 Marks
1) Pure competition is same as perfect competition. 2) Demand is related to time.
3) All desire are not demand. 4) Demand for food grains is inelastic.
Q.2A) Explain / Define the following concept. (Any 2)
4 Marks
1) Perfectly Inelastic demand
2) Monopolistic competition
3) Total Utility
4) Price elasticity of demand
B) Give Reason or Explain. (Any 2)
1) Law of Demand is based on some assumptions.
2) Desire for any commodity is not demand.
3) In perfect competition there is a single price.
4) There is a price discrimination in monopoly.
Q.3A) Distinguish Between (any 4)
1) Perfect competition vs Monopoly
2) Natural Monopoly vs Legal monopoly
3) Elastic Demand vs Inelastic demand
4) Marginal Utility vs Total utility
5) Utility vs Usefulness
Q.4A) State the reasons whether you Agree or Disagree. (Any 1)
1) A seller is a price maker in monopoly.
2) There are no exceptions to the Law of Demand.

4 Marks

8 Marks

4 Marks

Q.5A) Answer the following questions (any 1)

8 Marks
1) What do you mean by Perfect Competition? Explain its features.
2) Explain price Equilibrium under Perfect Completion.
3) Explain the factors affecting the Demand.
4) Explain the relation between TU and MU.