(English Medium) ICSE Class 10 - CISCE Question Bank Solutions for Economic Applications

Shyam, Sita, Renu, Ahmed and John are five consumers of apples. Their demand for apples is given below. Derive the market demand schedule for apples.

Complete the following individual demand schedule.

Explain briefly the factors which influence individual demand for a commodity. 

Define individual demand.

What is a demand schedule?

A relatively inelastic supply curve implies ______.

What is meant by perfectly elastic supply?

Which of the following used in the production of textile by a firm would be classfied as land in economics?

What is the difference between land and capital?

Why is labour an important factor of production?

Explain any two factors that affect the price elasticity of demand. Give suitable examples.

Use of high yielding variety of seeds of related to productivity of ______.

Which factor of production is not a hired factor?

The reward of an entrepreneur is in the nature of ______.

Which of the following types of capital gets exhausted after its use and gets embodied in the finished product?

Discuss any two features of a monopolistically competitive market.

Mention two differences between an entrepreneur and other factors of production.

What do you mean by 'innovative ability' of an entrepreneur?

Define Discriminating Monopoly.

Explain complex division of labour with the help of an example.