CBSE Class 12 Micro Economics Consumer Behaviour And Demand Utility Analysis Worksheet

  Consumer behavior and Demand Utility Analysis I. Answer in one sentence each ( 1 mark each) (a) When marginal utility is zero, Total utility will be (b) When MUx/Px > MUy/Py What will the Consumer do? (c) If a commodity is available at free of cost, how many unit will a…

CBSE Class 12 Micro Economics Theory of Demand Worksheet

MICRO ECONOMICS THEORY OF DEMAND I. Answer in one sentence each a. Define demand b. State law of demand. c. Demand for good X decreases as price of good Y increases then the two goods are: A. Absolute necessities    B. complementary goodC. inferior goods             D.…

CBSE Class 12 Micro Economics Price Elasticity of Demand Worksheet

MICRO ECONOMICSPRICE ELASTICITY OF DEMAND 1. A consumer buys 1000 units of a good at a price of ₹120 per unit. When the price falls he buys 1400 units. If price elasticity is (-) 2, what is the new price? 2. The quantity demanded of a commodity falls by 5 units when its price…

CBSE Class 12 Micro Economics Introduction Worksheet

MICRO ECONOMICS INTRODUCTION I. Answer in one sentence each 1. Define goods. 2. Distinguish between goods and services. 3. What do you understand by ‘individual’ in economics? 4. What does ‘allocation of resources’ mean? 5. Define ‘scarcity’ in economics. 6. Define positive…

CBSE Class 12 Micro Economics Indifference Curve Analysis Worksheet

INDEFFERENCE CURVE ANALYSIS I. Answer in one sentence or in one word a. An indifference curve shows: A. The amount of money that consumer has to spend on two goods. B. The different levels of utilities that consumer can get from the consumption of different units of two goods…

CBSE Class 12 Micro Economics Consumer Behaviour And Demand Indifference Analysis Worksheet Set A

Consumer behavior and Demand Indifference Analysis I. Answer in one sentence or in one word (1 mark each) 1. An indifference curve shows:(a) The amount of money that consumer has to spend on two goods.(b) The different levels of utilities that consumer can get from the…

CBSE Class 12 Micro Economics Consumer Behaviour And Demand Analysis Worksheet

Consumer behavior and Demand Demand Analysis I. Answer in one sentence each (1 mark each) a. Define demand b. State law of demand. c. Demand for good X decreases as price of good Y increases then the two goods are: (a) Absolute necessities(b) Complementary good(c) Inferior…

CBSE Class 11 Economics Worksheet Set L Solved

  VALUE POINTS 1. Mean deviation  2. The measure of dispersion can be defined as the extent to which a particular value varies from its average.3. 0.9 1 4. Q1 = 6 .75 Q3 = 18.1 QD = 18.1- 6.7/2 = 5.75 3 5. S D = √ 200 = 14.16. It is defined as income from the sale of output…

CBSE Class 11 Economics Worksheet Set K Solved

VALUE POINTS 1. Quartile deviation  2. The measure of dispersion can be expressed in terms of percentages in comparison with other values3. 0.8 4. Q1 = 13.5 Q3 = 36.2 QD = 36.2- 13.5/2 = 11.25 5. S D = √ 800 = 28..46. It is defined as total income from the sale of all units…

CBSE Class 11 Economics Worksheet Set J Solved

PART A 1. Define revenue  2. Draw a supply curve with price elasticity is zero.  3. Expansion of supply is due to: (choose the correct answer) (i) Improvement in technology of production(ii) Reduction in unit tax by the government(iii) Decrease in prices of input(iv) Increase…

CBSE Class 11 Economics Worksheet Set I Solved

SECTION A 1. A firm is at equilibrium when it produces a level of output at which: (i) Marginal Cost is equal to Marginal Revenue and Marginal cost is diminishing(ii) Marginal Cost is equal to Marginal Revenue and Marginal cost is increasing.(iii) Average Revenue is equal to…

CBSE Class 11 Economics Worksheet Set H Solved

SECTION A 1.When Average Product Curve coincides with Marginal Product Curve, Average Product Curve is: A. Constant and maximumB. Constant and minimumC. Increasing at a constant rateD. Increasing at a diminishing rate2.A firm increases its output 20 to 40 units. As a result…

CBSE Class 11 Economics Worksheet Set G Solved

SECTION A 1. When Marginal Product curve coincides with X axis, Total Product: A. Increases at a constant rateB. Increases at a diminishing rateC. Reaches maximum and constantD. Reaches minimum and constant2. A firm increases its output from 85 units to 90 units. As a result…

CBSE Class 11 Economics Worksheet Set F Solved

SECTION A 1. When Marginal Product is zero, Total Product must be: A. DiminishingB. ConstantC. IncreasingD. Becomes zero2. As a result of increase in output from 5 units to 10 units, Average Cost increases from Rs.10 to Rs. 12. What could be the marginal cost of producing 10th…

CBSE Class 11 Economics Worksheet Set E Solved

PART A 1. Price elasticity of supply is unitary. What could be the percentage change in quantity supplied if its price increases by 10 percent?2. Define elasticity of supply  3. A downward movement along the same supply curve is due to:(i) Increase in prices of inputs(ii)…