Demand Analysis
Very Short Question Answers
Q1. What is Price demand?
Q2. Prepare individual demand schedule.
Q3. Prepare market demand schedule.
Q4. What is demand function?
Q5. Explain Giffen's paradox.
Q6. Explain Veblen goods (prestigious goods).
Q7. What is income demand?
Q8. What is cross demand?
Q9. Explain substitute goods.
Q10. Explain complementary goods.
Q11. What is price elasticity of demand?
Q12. What are the types of price elasticity of demand?
Q13. Explain income elasticity of demand.
Q14. Explain cross elasticity of demand.
Q15. What is perfectly elastic demand ?
Q16. What is perfectly inelastic demand?
Q17. Explain unitary elastic demand.
Q18. Explain relatively elastic demand.
Q19. Explain relatively inelastic demand.
Q20. Define superior goods.
Q21. Define inferior goods.
Short Question Answers
Q1. What are the factors that determine the demand?
Q2. Explain the law of demand.
Q3. Explain the exceptions to the law of demand.
Q4. Illustrate the reasons for negative sloping demand curve.
Q5. Discuss the concept of income demand.
Q6. Explain the concept of cross demand.
Q7. What is elasticity of demand?
Q8. Define price elasticity of demand.
Q9. What are the basic determinants of price elasticity of demand?
Q10. Point out the importance of price elasticity of demand.
Q11. Describe the income and cross elasticities of demand.
Long Question Answers
Q1. What is a demand function? What are the factors that determine the demand for a good?
Q2. Explain the law of demand and examine its exceptions.
Q3. Explain the concepts of income and cross demands with suitable diagrams.
Q4. Define the concept of elasticity of demand. Also explain income and cross elasticities of demand.
Q5. What is price elasticity of demand? Illustrate the various types of price elasticities of demand.
Q6. Discuss the factors that determine price elasticity of demand.
Q7. Describe the importance of price elasticity of demand.