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

What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.

Name the factors of production.

“While shopping for fruits in the local market you see many seller selling fruits”. In this context answer the following:

1. What is the type of market referred to?
2. State and draw the type of demand curve faced by the market above.
3. Differentiate between the market indicated above and monopoly on the basis of:
   1. No. of sellers
   2. Market price
   3. Entry and exit of firms in the market

The essential feature of a tax. 

______ is an example of commercial revenues.

______ are those taxes which are paid by the same person on whom they have been imposed. 

The government imposes tax ______.

Which of the following is an advantage of direct taxes?

Under ______ the rate of tax increases with rise in tax payer's income. 

Taxes in which the rate of tax remains the same, though the tax bases changes are called ______.

Fiscal policy means public expenditure and tax policy of the government.

Instruments of fiscal policy is:

Instrument of monetary policy is:

Match the following and select the correct option:

Monetary policy means regulation of money supply by the monetary authority.

Observe the relationship of the first pair of words and complete the second pair: 

Tax paid by person on whose it is imposed : Direct tax.

A tax is paid by some person and the final burden is born by some other person : ______.

The state can promote economic development by ______.

A policy under which the government uses its expenditure and revenue to produce desirable effect and avoid undesirable effects on the national income, production and employment. This defines ______.

Identify the tax which is most likely to faster civic conciousness.

The following table indicates: