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

State whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.

Demand for diesel and petrol

State whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.

Demand for personal computers

Sate whether the price elasticity of demand is inelastic, relatively elastic, highly elastic or highly inelastic. Give reasons to support your answer.

Demand for precious stones and costly jewellery

______ is relevant to perfect competition.

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

In which market form, marginal revenue is equal to price?

Homogeneous products are sold under ______.

______ is essential for a market to be called as perfect competition.

A differentiated product has ______.

______ goods refer to those products which are identical in quality, shape, size, color, etc.

In which market form is the firm a price taker?

Firms under ______ are free to enter or leave the industry any time.

Explain the following feature of perfect competition:

Large number of buyers and sellers

Explain the following feature of perfect competition:

Homogeneous products

In which market form are goods sold at a uniform price?

How do the manufacturers and traders exploit the consumers?

What is meant by food adulteration?

Name any one measure formulated to prevent the problem of food adulteration in India.

What is food adulteration? Mention any one harmful effect of food adulteration.

Explain the term food basket.