CBSE Class 12 Economics – Case Study (Set 2)

By / December 20, 2025

CBSE Economics Case Study – Set 2

CBSE Class 12 Economics – Case Study (Set 2)

Case Study 1: Demand and Price
Due to a rise in petrol prices, consumers started using public transport more frequently.
Q1. Which law explains this behaviour?
Answer: (b) Price rise leads to fall in quantity demanded.
Q2. Change in quantity demanded is due to:
Answer: (c) It is caused by change in own price.
Q3. What happens to demand curve?
Answer: (c) Only movement along demand curve occurs.
Q4. Petrol is generally considered:
Answer: (c) Petrol is a necessity for transport.
Case Study 2: Elasticity
A small increase in price of salt does not reduce its demand significantly.
Q5. Demand for salt is:
Answer: (c) Necessities have inelastic demand.
Q6. Elasticity of demand is less than:
Answer: (b) Inelastic demand is less than 1.
Q7. Total expenditure will:
Answer: (a) Price rise increases total expenditure.
Q8. Salt is an example of:
Answer: (c)
Case Study 3: Supply
Due to good monsoon, agricultural production increased.
Q9. Supply will:
Answer: (b)
Q10. Which factor affects supply here?
Answer: (c)
Q11. Increase in supply causes:
Answer: (b)
Q12. Law related here is:
Answer: (b)
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