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

An entrepreneur can use either capital or labour in the production process. Out of the options A, B, C and D given below, which two would the entrepreneur choose if he had to replace labour with capital? Justify your answer.

Why is capital called a 'produced means of Production?

Differentiate between an entrepreneur and labour on the basis of:

1. Nature of work
2. Nature of risk involved

What is the difference between a labourer and an entrepreneur?

Define production.

Identify the factors of production of the following case and differentiate between them.

Human factor of production with and without innovative capacity.

What do you mean by productivity of Land?

How would the following effect the productivity of Land?

1. Location
2. Investment on Land
3. Security of Tenancy

Which of these features of capital as a factor of production makes it different from other factors of production?

Which of the following will affect the productivity of land adversely?

Which of the following statements is NOT a necessary condition for the division of labour?

Interest is a payment for ______.

Sunshine is considerd land in Economics

What is meant by labour in economics?

Which of the following is considered as labour in economics?

State two characteristics of capital as a factor of production.

Which of the following will be treated as labour in economics? Give a reason for each.

1. Preparation of food by a housewife.
2. Singing for ones own pleasure.
3. Driving his master's car by a driver.
4. Playing cricket by Mahendra Singh Dhoni.

Capital is the result of past labour. Briefly explain.

Suggest two measures to improve productivity of land.

Identify what type of capital is it?