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

Why is the demand curve under monopoly less elastic as compared to the demand curve under monopolistic competition?

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

Distinguish between Normal goods and Inferior goods. 

Give five points of difference between Commercial and Central Bank.

Explain any three features of a monopolistic market.

The demand for ______ goods will increase with the increase in the consumers income.

Give two examples of normal goods.

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

An increase in income leads to a rise in the demand for normal goods.

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

An increase in income leads to a rise in the demand for inferior goods.

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

The commodity for which quantity demanded decreases with an increase in income is called inferior commodity.

The following diagram represents the demand curve of a firm under ______.

Which of the following market types has a large number of firms that sell similar but slightly different products?

Give two reasons why monopolistic competition is the most realistic form of a market.

Under which market form firm is price taker?

With help of an example explain the term complementary goods.

With suitable examples differentiate between complementary goods and substitute goods.

Explain clearly two factors which determine demand.

If a buyer buys less of a commodity when his income falls, how will his demand curve change? Illustrate your answer with a diagram.

Explain any three causes of cost-push inflation.

Why are the consumers exploited by retailers?