(English Medium) ICSE Class 10 - CISCE Important Questions for Economics

Explain clearly two factors which determine demand.

What is meant by an increase in demand?

If a buyer buys less of a commodity when his income falls, how will his demand curve change? Illustrate your answer with a diagram.

Mention any two factors that cause a rightward shift of the demand curve.

Distinguish between Normal goods and Inferior goods. 

Briefly explain any two reasons for the occurrence of the law of demand.

If Coke and Fanta are close substitutes to each other, a rise in price of Coke will lead to ______ for Fanta.

State and explain the law of demand with the help of a hypothetical schedule and graph.

As a result of rise in consumer's income, the demand curve for coarse-grain (inferior good) will:

Identify the factor that affects market demand from the options below:

With the help of a graph explain the increase in demand concept.

Differentiate between extension and contraction of demand.

The following table shows the demand schedule for 3 consumers in a market.

Based on the above hypothetical schedule answer the following questions.

1. What is the demand of Consumer 3 priced at Rs 10 (i)
2. What is the demand of Consumer 2 priced at Rs 8 (ii)
3. Calculate the total market demand priced at Rs 4 (iii)
4. From the above given table examine the relationship between price and demand.
5. Mention any one exception to the law of demand.

State the law of demand.

Draw a diagram showing a perfectly elastic demand curve.

With the help of a graph explain the relatively inelastic demand for a commodity.

mention any two examples of composite demand.

The elasticity of demand for school bag will be ______.

Analyse the given graphs and identify the type of elasticity of demand of:

1. Picture 1
2. Picture 2

State whether demand will be Elastic or Inelastic. Give reasons for your answer.

The demand for salt by households.