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

Identify the correct statement from the following alternatives:

The following table shows the amount of sugar bought by a household at different prices:

Does the behaviour of household contradict the law of demand? Give reasons in support of your answer.

The law of supply is based on the assumption of ______.

State whether the following statement is true or false. Give reasons.

The law of demand states a direct relationship between price and demand.

Explain any two similarities between a perfect market and a monopolistically competitive market.

Mention two assumptions of the law of supply.

State the law of supply.

Other things remaining unchanged, change in supply due to increase in price is called ______.

Law of supply states that ______.

State the similarities between monopolistic competition and monopoly. 

The producers prefer to supply more when prices are ______.

Explain the law of supply.

Price and Supply move in the same direction. Justify the statement.

State and explain the law of supply with the help of a diagram.

What is supply function?

What does RTI stand for?

What provision is provided under RTI Act to the citizens of the country?

Give two reasons for the operation of the law of demand.

What is meant by the income effect of a fall in the prices of a commodity?

What is meant by the income effect of a fall in the price of the commodity?