Refer to CBSE Class 12 Economics HOTs Consumers Equilibrium And Demand. We have provided exhaustive High Order Thinking Skills (HOTS) questions and answers for Class 12 Economics Part A Microeconomics Chapter 2 Theory of Consumer Behaviour. Designed for the 2025-26 exam session, these expert-curated analytical questions help students master important concepts and stay aligned with the latest CBSE, NCERT, and KVS curriculum.
Part A Microeconomics Chapter 2 Theory of Consumer Behaviour Class 12 Economics HOTS with Solutions
Practicing Class 12 Economics HOTS Questions is important for scoring high in Economics. Use the detailed answers provided below to improve your problem-solving speed and Class 12 exam readiness.
HOTS Questions and Answers for Class 12 Economics Part A Microeconomics Chapter 2 Theory of Consumer Behaviour
Question. How does availability of substitute good affect the elasticity of demand?
Answer. The demand of a good becomes elastic if its substitute good is available in the market.
Question. Demand of good ‘X’ falls due to increase in the income of the consumer what type of good ‘X’ is?
Answer. Good ‘X’ is an inferior good.
Question. What will be the impact on demand of the good due to increase in price of the substitute good?
Answer. The demand of the good will increase.
Question. A rise in price of a good results in a decrease in expenditure of it. Is its demand elastic or inelastic?
Answer. Elastic.
Answer. The set of bundles available to the consumer with his given income at prevailing market price is called the budget set.
Question. What is meant by market demand?
Answer. Market demand is the sum of total demand of all the consumers in the market at a particular time and at a given price.
Question. Define demand schedule.
Answer. Demand schedule is a tabular representation which represent different quantities of the commodity demanded at different prices.
Question. Give two examples of normal goods & inferior goods.
Answer. Normal goods – Rice, Wheat
Inferior goods – coarse grain, coarse cloth.
Answer. Consumer purchases up to the point where marginal utility is equal to the price (MU=P). So long as marginal utility is greater than price, he keeps on purchasing. As he makes purchases MU falls and at a particular quantity of the good MU becomes equal to price. Consumer purchases up to this point.
Answer. 1. Nature of Commodity : Necessaries like Salt, Kerosene oil etc. have inelastic demand and luxuries have elastic demand.
2. Availability of substitutes : Demand for goods which have close substitutes is relatively more elastic and goods without close substitutes have less elastic demand.
3. Different uses : Commodities that can be put to different use have elastic demand for instance electricity has different uses.
4. Habit of the consumer : Goods to which consumers become habitual will have inelastic demand.
Examples – Liquor and Cigarette.
| CBSE Class 12 Economics HOTs Introduction |
| CBSE Class 12 Economics HOTs Production and Costs |
| CBSE Class 12 Economics HOTs Producer Behaviour and Supply (Hindi) |
| CBSE Class 12 Economics HOTs Producer Behavoiur And Supply |
| CBSE Class 12 Economics HOTs The Theory of the Firm under Perfect Competition |
| CBSE Class 12 Economics HOTs Market Equilibrium |
| CBSE Class 12 Economics HOTs Non Competitive Markets |
| CBSE Class 12 Economics HOTs Economics Forms of Market and Price Determination |
| CBSE Class 12 Economics HOTs Money And Banking |
| CBSE Class 12 Economics HOTs Money and Banking (Hindi) |
| CBSE Class 12 Economics HOTs Determination of Income and Employment |
| CBSE Class 12 Economics HOTs Determination of Income and Employment (Hindi) |
| CBSE Class 12 Economics HOTs National Income And Related Aggregates |
| CBSE Class 12 Economics HOTs Government Budget the Economy |
| CBSE Class 12 Economics HOTs Government Budget the Economy (Hindi) |
| CBSE Class 12 Economics HOTs for Balance of Payment |
Important Practice Resources for Class 12 Economics
HOTS for Part A Microeconomics Chapter 2 Theory of Consumer Behaviour Economics Class 12
Students can now practice Higher Order Thinking Skills (HOTS) questions for Part A Microeconomics Chapter 2 Theory of Consumer Behaviour to prepare for their upcoming school exams. This study material follows the latest syllabus for Class 12 Economics released by CBSE. These solved questions will help you to understand about each topic and also answer difficult questions in your Economics test.
NCERT Based Analytical Questions for Part A Microeconomics Chapter 2 Theory of Consumer Behaviour
Our expert teachers have created these Economics HOTS by referring to the official NCERT book for Class 12. These solved exercises are great for students who want to become experts in all important topics of the chapter. After attempting these challenging questions should also check their work with our teacher prepared solutions. For a complete understanding, you can also refer to our NCERT solutions for Class 12 Economics available on our website.
Master Economics for Better Marks
Regular practice of Class 12 HOTS will give you a stronger understanding of all concepts and also help you get more marks in your exams. We have also provided a variety of MCQ questions within these sets to help you easily cover all parts of the chapter. After solving these you should try our online Economics MCQ Test to check your speed. All the study resources on studiestoday.com are free and updated for the current academic year.
You can download the teacher-verified PDF for CBSE Class 12 Economics HOTs Consumers Equilibrium And Demand from StudiesToday.com. These questions have been prepared for Class 12 Economics to help students learn high-level application and analytical skills required for the 2025-26 exams.
In the 2026 pattern, 50% of the marks are for competency-based questions. Our CBSE Class 12 Economics HOTs Consumers Equilibrium And Demand are to apply basic theory to real-world to help Class 12 students to solve case studies and assertion-reasoning questions in Economics.
Unlike direct questions that test memory, CBSE Class 12 Economics HOTs Consumers Equilibrium And Demand require out-of-the-box thinking as Class 12 Economics HOTS questions focus on understanding data and identifying logical errors.
After reading all conceots in Economics, practice CBSE Class 12 Economics HOTs Consumers Equilibrium And Demand by breaking down the problem into smaller logical steps.
Yes, we provide detailed, step-by-step solutions for CBSE Class 12 Economics HOTs Consumers Equilibrium And Demand. These solutions highlight the analytical reasoning and logical steps to help students prepare as per CBSE marking scheme.