9th Indian Economy

EQUILIBRIUM PRICE

I.CHOOSE THE CORRECT ANSWER: 1. Equilibrium price equalizes demand and supply. 2. Supply is constant in very short period. II.WRITE A SHORT NOTE: 1. Equilibrium price. There is only one price at which the preferences of seller and buyer meet together. At a particular price, the quantity demanded and a quantity supplied will become equal. At this price quantity bought and quantity sold will be equal. 2. Short periods During the short period, supply can be altered to some extent only. Supply cannot be fully altered to the demand changes. Raising demand increases the price lightly and a falling demand…

9th Indian Economy

TAMILNADU – MANUFACTURING INDUSTRIES

I.CHOOSE THE CORRECT ANSWER: 1. Tamilnadu newsprint paper limited (TNPL) is public sector industry in Tamilnadu. 2.The by-product Bagasse is used as a raw material for paper industry. 3.SPIC is the largest producer of fertilizers in India. 4.Cottage industry is one where in very little investment is involved. 5.Kancheepuram silk in its quality and is known for its traditional value all over the world. II.MATCH THE FOLLOWING: 1. Chennai  Detroit of southern asia 2. Sivakasi  Little Japan 3. Perambur  Integral coach factory 4 .Karur  Textile capital of Tamilnadu 5. Coimbatore  The Manchester of south India IV.ANSWER IN BRIEF: 1. How…

9th Indian Economy

DEMAND AND SUPPLY

I. CHOOSE THE CORRECT ANSWER: 1. There exists an indirect relationship between price and demand 2. Law of demand is only applicable to very low priced goods 3. One of the determinants of demand is taste and preference. II. WRITE SHORT NOTE ON : 1. Alfred marshal’s law of demand: The greater the amount to be sold the smaller must be the price at which it is offered. In other words, the amount demanded increases with a fall in price and diminishes with a rise in price. 2. Law of supply: As the price of the commodity rises, the quantity…