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

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  1. In the realm of economic development, how does the role of entrepreneurs impact the overall growth and stability of a nation.
[8] Central Bank
Chapter: [8] Central Bank
Concept: undefined >> undefined

Define bank rate.

[8] Central Bank
Chapter: [8] Central Bank
Concept: undefined >> undefined

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Briefly explain two qualitative methods of credit control adopted by this institution.

[8] Central Bank
Chapter: [8] Central Bank
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Which of the following is a selective/qualitative method of credit control.

[8] Central Bank
Chapter: [8] Central Bank
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Discuss three differences between a perfectly competitive market and a monopoly.

[5] Meaning and Types of Markets
Chapter: [5] Meaning and Types of Markets
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Mention two harmful effects of food adulteration.

[11] Consumer Awareness
Chapter: [11] Consumer Awareness
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Briefly explain any two reasons for the occurrence of the law of demand.

[2] Elementary Theory of Demand
Chapter: [2] Elementary Theory of Demand
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The debt which yields income to the government is called as ______.

[10] Inflation
Chapter: [10] Inflation
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When State Bank of India is under financial crisis and borrows money from Central Bank at a certain rate against approved securities, it will be called as ______.

[8] Central Bank
Chapter: [8] Central Bank
Concept: undefined >> undefined

State and explain the law of demand with the help of a hypothetical schedule and graph.

[2] Elementary Theory of Demand
Chapter: [2] Elementary Theory of Demand
Concept: undefined >> undefined

Read the extract and answer the following question:

Food adulteration is a complex issue that requires a multi-pronged approach involving government intervention, industry cooperation, and consumer awareness. In Country X, addressing food adulteration is an ongoing challenge, but with a concerted effort from all stakeholders, there is hope far creating a safer and more trustworthy food supply chain in the future.
  1. In order to secure consumer rights what duties should the consumers fulfil?
  2. Mention any two harmful effects of food adulteration.
[11] Consumer Awareness
Chapter: [11] Consumer Awareness
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“Money helps to express the monetary value of goods and services in the market”.

On the basis of the given statement, Identify the function performed by money.

[6] Money
Chapter: [6] Money
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Statement 1: The Bank Rate policy of the central bank is a traditional method of credit control.

Statement 2: The method used by the central bank to influence the total volume in the banking system is a quantitative method of credit control.

[8] Central Bank
Chapter: [8] Central Bank
Concept: undefined >> undefined

"Does a shirt priced at Rs. 300 exemplify the store of value function of money? Select the appropriate option:

[6] Money
Chapter: [6] Money
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Ms. Sakshi, who teaches economics, discussed the "minimum percentage of total deposits that commercial banks must maintain with the Central Bank according to current regulations. Select the correct term that defines this concept from the following choices.

[8] Central Bank
Chapter: [8] Central Bank
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Examine any three adverse or evil effects of inflation on production.

[10] Inflation
Chapter: [10] Inflation
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The following table shows the demand schedule for 3 consumers in a market.

Price in (Rs) Consumer 1 Demand in (kgs) Consumer 2 Demand in (kgs) Consumer 3 Demand in (kgs) Market Demand
10 1 2 (i) ______ 6
8 2 (ii) ______ 4 9
6 3 4 5 12
5 4 5 6 (iii) ______

Based on the above hypothetical schedule answer the following questions.

  1. What is the demand of Consumer 3 priced at Rs 10 (i)
  2. What is the demand of Consumer 2 priced at Rs 8 (ii)
  3. Calculate the total market demand priced at Rs 4 (iii)
  4. From the above given table examine the relationship between price and demand.
  5. Mention any one exception to the law of demand.
[2] Elementary Theory of Demand
Chapter: [2] Elementary Theory of Demand
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State two dissimilarities between Monopolistic competition and Perfect competition.

[5] Meaning and Types of Markets
Chapter: [5] Meaning and Types of Markets
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Any statement about demand for a good is considered complete only when the following is/are mentioned in it:

[2] Elementary Theory of Demand
Chapter: [2] Elementary Theory of Demand
Concept: undefined >> undefined

If with the rise in price of good Y, demand for good X rises, the two goods are:

[2] Elementary Theory of Demand
Chapter: [2] Elementary Theory of Demand
Concept: undefined >> undefined
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