I.Com Part 1 Principles of Economics Chapter 2 Consumer's Demand Theory Short Question Preparation


11th Class Principles of Economics
Chapter 2 Consumer's Demand Theory Preparation

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11th Class Principles of Economics Chapter Wise Preparation

Online Short Questions For Chapter 2 "ICOM Part 1 Economics English Medium Chapter 2 Short Questions Preparation "

Try The Short Questions For ICOM Part 1 Economics English Medium Chapter 2 Short Questions Preparation

  • Total Questions10

  • Available Sets3

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Principles of Economics ( English Medium) - ICOM Part 1 Economics English Medium Chapter 2 Short Questions Preparation

Question # 1

What are economic wants and non-economic wants ?

  • Ans 1: Economic wants:
    There are wants, which can be satisfied only by spending money. For example food, house, car, pen book etc.
    Non-economic wants:
    There are wants, which can be satisfied without any cost or struggle. For example air, friendship, sunlight etc.
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Prepare Complete Set Wise Questions For Chapter 2 "ICOM Part 1 Economics English Medium Chapter 2 Short Questions Preparation "

ICOM Part 1 Economics English Medium Chapter 2 Short Questions Preparation - Set 1

Question # 1

What are economic wants and non-economic wants ?

  • Ans 1: Economic wants:
    There are wants, which can be satisfied only by spending money. For example food, house, car, pen book etc.
    Non-economic wants:
    There are wants, which can be satisfied without any cost or struggle. For example air, friendship, sunlight etc.
Submit

ICOM Part 1 Economics English Medium Chapter 2 Short Questions Preparation - Set 2

Question # 1

Differentiate between private goods and public goods.

  • Ans 1: Private Goods:
    Private goods are those goods which when consumed by one person reduce the supply available to others. If it is consumed by a single person, it reduces for others for example land, wheat, cloth etc.
    Public Goods:
    Public goods are those goods whose benefit are indivisible that is, when these are provided to some people, others cannot be excluded from using it. For example highways, national defence, public parks etc.
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ICOM Part 1 Economics English Medium Chapter 2 Short Questions Preparation - Set 3

Question # 1

Write consumers equilibrium in the form of an equation.

  • Ans 1: MUA/PA = MUB/PB = MUC/PC = ............. = MUZ/PZ.
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11th Class Principles of Economics Chapter 2 Preparation

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