List of top Economics Questions asked in Maharashtra Board Class XII Exam

Observe the following diagram of the non-linear demand curve and answer the questions given below. 

(1) If \( EB = EA \) (\( Ed = 1 \)) = ....…      (1)
(2) If \( EB > EA \) (\( Ed > 1 \)) = .......      (1)
(3) If \( EB < EA \) (\( Ed < 1 \)) = .......      (1)
(4) The 'x' axis represents ........ of commodity and 'y' axis represents ........ of commodity.        (1)
 

Regulated Market 

Regulated market is a wholesale market where buying and selling are regulated and controlled by the state government through the market committee. 
Regulated market aims at the elimination of unhealthy and unscrupulous practices regarding charges and providing facilities to producers and sellers in the market. The poor standards of primary and secondary markets in agricultural market are cash transactions, short weights, excessive market charges, unauthorized deduction, and the absence of machinery to settle disputes between sellers and buyers. These defects and malpractices can be recovered by the establishment of Regulated market. According to the Bombay Agricultural Product Market Act-1939, this market is controlled. In this market mainly the trade of cereals, fruits, tobacco, cotton, groundnut, coconut, betel nut, potatoes and turmeric, etc. are controlled. 
Questions:
(1) Which act regulates the market?      (1)
(2) What are the poor standards in primary and secondary markets?      (1)
(3) Give your opinion with reference to the above passage.      (1)
 

Calculate price index number from the following data: 

 \[ \begin{array}{|c|c|c|c|c|} \hline \text{Commodity} & A & B & C & D \\ \hline \text{Price in 2005 (₹)} & 6 & 16 & 24 & 4 \\ \hline \text{Price in 2010 (₹)} & 8 & 18 & 28 & 6 \\ \hline \end{array} \]