MK-Vidyapeeth

  Chapter: 11 MODULE 4: DISTRIBUTION OF GOODS AND SERVICES TEXTBOOK QUESTIONS (SOLVED) INTEXT QUESTIONS 11.1 Q.1. Suppose you are a seller of tomatoes in the market. Name the factors you will consider while fixing the price of tomatoes sold by you. Ans.  I will consider the following factors while fixing the price of tomatoes sold by me: (i) Cost of production.  (ii) Price fixed by other seller of similar commodity. (iii) Expected sales at different prices.  Q.2. What will be the effect on price of tomatoes fixed by you if the cost of transportation increases due to increase in the price of diesel? Ans. Price of tomatoes will increase. INTEXT QUESTIONS 11.2 Q.1. Suppose you are a seller of tomatoes and you have 100 kg. Of tomatoes for sale. The market price is ₹ 20 per kg. At this price, the demand for tomatoes is only 60 kg. How will it affect the price of tomatoes fixed by you? Ans. The price of tomatoes will decrease. Q.2. As in Question No. 1, if at price ₹ 20 pe...

Chapter: 10 MODULE 4: DISTRIBUTION OF GOODS AND SERVICES TEXTBOOK QUESTIONS (SOLVED) INTEXT QUESTIONS 10.1 Q.1. Define Supply. Ans. Supply may be defined as the quantity of a commodity offered for sale at given price per unit of time. Q.2. Name three elements included in the definition of supply. Ans.  Following are three elements included in the definition of supply: (i) Price of the commodity.  (ii) Quantity supplied. (iii) Time period.  Q.3. Distinguish between stock and supply. Ans. Stock is the total quantity of a commodity available with a firm at a particular point of time whereas supply is that part of stock of a commodity that the seller is ready to sell at given price during a given period of time. INTEXT QUESTIONS 10. INTEXT QUESTIONS 10.4 Q.1. Fill in the blanks with appropriate words: (i) Supply of a commodity ________ when its price increases. Ans. Increase. (ii) A firm having an objective of maximization of profit will supply ________ quantity of a commodit...

  Chapter: 9 MODULE 4: DISTRIBUTION OF GOODS AND SERVICES TEXTBOOK QUESTIONS (SOLVED) INTEXT QUESTIONS 9.1 Q.1. Define demand. Ans. Demand may be defined as the quantity of a commodity that a buyer is willing to buy at a given price per unit of time. Q.2. Name the three components included in the definition of demand.  Ans.  Three components included in the definition of demand are as follows: (i) Price of the commodity. (ii) Quantity of the commodity to be bought. (iii) The time period. INTEXT QUESTIONS 9.2 Q.1. State the law of demand. Ans. The law of demand states that other factors determining the demand remaining constant, price of a commodity and quantity demanded are inversely related. Q.2. What are the assumptions of law of demand?  Ans.  Following are the assumptions of law of demand: (i) Income of the buyer does not change. (ii) Price of related goods does not change.  (iii) Tastes, preferences and fashion do not change. Q.3. What will happen to y...