Economics · Class 12 Commerce
Ch 3Demand Analysis — Class 12 Economics, concept-first.
In everyday language, 'demand' is often confused with 'desire' or 'need' — but Economics gives the word a much more precise, technical meaning. Demand for a commodity is the quantity of that commodity which a consumer is willing to buy and is able to pay for, at a given price, during a given period of time.
Key concepts
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Meaning, Determinants and the Demand Function
Demand is the quantity of a commodity a consumer is both willing and able to pay for, at a given price, during a given period of time — desire alone is not demand without purchasing power behind it.
Most relevant Q&A
- Which of the following is NOT a determinant of demand for a commodity? (a) Price of the commodity (b) Income of the consumer (c) Cost of pro…Free
- Define Demand.Free
- Write the general demand function.Preview
- Explain the determinants of demand for a commodity.Free
- Give an economic term: A desire which is backed by willingness to purchase and ability to pay.Preview
In previous exams
How often this chapter’s concepts have been examined — real appearance data, never estimated.
Chapter contents
The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.
Meaning of Demand and Determinants of Demand
In everyday language, 'demand' is often confused with 'desire' or 'need' — but Economics gives the word a much more precise, technical meaning.
The Demand Function
A demand function expresses, in a compact mathematical form, the relationship between the quantity demanded of a commodity and all the determinants that influence it.
The Law of Demand — Statement, Demand Schedule and Demand Curve
The Law of Demand, most closely associated with Alfred Marshall, is one of the most fundamental generalisations in the whole of Economics.
Assumptions of the Law of Demand
The inverse price-quantity relationship the Law of Demand describes holds good only so long as a set of other conditions are genuinely held constant.
Why Does the Demand Curve Slope Downward?
Several distinct economic reasons, working together, explain why the demand curve normally slopes downward from left to right — that is, why quantity demanded rises as price falls.
Types of Demand
Demand is not a single, uniform idea — the Maharashtra HSC Economics syllabus distinguishes several types of demand, based on different bases of classification.
Movement Along the Demand Curve vs Shift of the Demand Curve
A demand curve can change in two fundamentally different ways, and the Maharashtra HSC (MSBSHSE) Economics syllabus treats the distinction between them as one of the most important ideas in this chapt…
Exceptions to the Law of Demand
The Law of Demand describes the usual relationship between price and quantity demanded, but a small number of well-recognised cases run counter to it — situations where the demand curve slopes upward…
Sample & Board Papers
Sample papers and previous-year board questions for this subject.
+−Show 28 questionsHide questions28 questions
- Q1Complete the correlation. Direct demand : Food and Mobiles : ______ : Land and Labour.Preview
- Q2Give economic terms. Price being constant, demand falls due to unfavourable changes in other factors.Preview
- Q3Distinguish between: Joint/complementary demand and competitive demand.Preview
- Q4Explain the concepts of variation and changes in demand with the help of diagrams.Preview
- Q5Give an economic term: A desire which is backed by willingness to purchase and ability to pay.Preview
- Q6Give economic term: Swati purchased raincoat for her father in rainy season.Preview
- Q7Identify and explain the following concept: A poor person wants to buy a car.Preview
- Q8State and explain the ‘law of demand’ with its exceptions.Preview
- Q9Find the odd word out: Types of demand: (a) Direct demand (b) Indirect demand (c) Composite demand (d) Market demandPreview
- Q10Give economic term: More quantity is demanded due to changes in the factors determining demand other than price.Preview
- Q11Identify and explain the concept from the given illustration: Lalita satisfied her want of writing an essay by using pen and notebook.Preview
- Q12Identify and explain the following concept: Due to mandatory use of masks during corona epidemic the demand for mask-producing labour has in…Preview
- Q13Explain any four types of demand.Preview
- Q14Observe the given diagram and answer the following questions: The rightward shift in demand curve ______. Leftward shift in demand curve ___…Preview
- Q15Give an economic term: A desire which is backed by willingness to purchase and ability to pay.Preview
- Q16Find the odd word: Exceptions to the Law of Demand: (a) Giffen’s paradox (b) Prestige goods (c) Price illusion (d) Supply of labourPreview
- Q17Identify and explain the following concept: Amar demanded milk, sugar and tea powder jointly to satisfy his want of the tea.Preview
- Q18Identify and explain the following concept: Sunita madam satisfied her want to write on the blackboard by using chalk.Preview
- Q19State with reasons whether you ‘agree’ or ‘disagree’ with the following statement. Demand curve slopes downward from left to right. (a) Agre…Preview
- Q20Observe the given table and answer the questions: | Quantity demanded | | | | | | --- | --- | --- | --- | --- | | Price Per Kg in ₹ | Consum…Preview
- Q21Find the odd word: Determinants of demand: Income, Cost of production, Size of population, PricePreview
- Q22Examples of competitive demand are - Tea - Coffee Car - Petrol Sugar - Jaggery Pen - Ink (a) a, b, c (b) a, c (c) b, c (d) a, b, c, dPreview
- Q23Distinguish between expansion in demand and increase in demand.Preview
- Q24State and explain the ‘law of demand’ with its exceptions.Preview
- Q25Match the words from the following groups 'A' and 'B' correctly: Group A: a. Pen and ink b. Perfectly elastic supply c. Reward of entreprene…Preview
- Q26Distinguish between: Individual demand and Market demand.Preview
- Q27State with reasons whether you agree or disagree with the following statement: Many factors influence the demand for a commodity. (a) Agree…Preview
- Q28Explain the 'law of demand' with its assumptions.Preview