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

Distinguish between “movement along the demand curve” and shift of a demand curve.

What is meant by an increase in demand?

Define contraction of demand (or decrease in quantity demanded).

What causes an upward movement along a demand curve?

What causes a downward movement along a demand curve?

What does a rightward shift of demand curve indicate?

The following table shows a change in the demand. Read the table carefully and answer the question that follows:

What type of change is it, decrease in demand or contraction in demand? Give a reason.

With the help of a suitable diagram, explain expansion in demand.

Explain the following diagram.

Give two factors responsible for the shift of the demand curve to the right.

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

An increase in the demand for a commodity is due to a fall in its price.

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

A change in quantity demanded as a result of price change will imply a shift of the demand curve to the right.

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

Contraction of demand is the result of a decrease in the number of consumers.

______ represents downward movement along the same supply curve.

What is an extension of supply?

What is contraction of supply?

Why does the quantity supplied increases with a rise in price? Give two reasons.

What is meant by movement along the supply curve (or change in quantity supplied)?

What causes an upward movement along the supply curve of a commodity?

What is meant by a degressive tax system?