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

State the law of supply.

Give five points of difference between Commercial and Central Bank.

Define Indirect tax

Mention two important differences between Public Sector and Private Sector.

Mention an important difference between a Commercial Bank and the Central Bank.

Which of the following is a selective/qualitative method of credit control.

Draw a demand curve with the help of a hypothetical individual demand schedule.

Distinguish between derived demand and composite demand.

'Price is an indicator of quality'. The statement applies to ______.

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

In which exception to the law of demand does the consumer equate price and quality.

If commodity X and Y are substitutes, increase in price of X will affect demand of Y how?

Prepare a hypothetical market demand schedule and draw a market demand curve based on it.

“The inverse relationship between price and quantity demanded does not hold good in many cases.”

1. Justify the above as Yes or No.
2. If justified, explain in brief the Giffen Effect.

Identify the most efficient student:

State the law of demand.

Draw a perfectly inelastic supply curve.

Distinguish between contraction and decrease in supply.

Identify the elasticity of supply (e_s) of S₁, S₂ and S₃ supply curves:

Identify the elasticity of supply for the following with proper reasoning:

Primitive and advanced technology.