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

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.

Which of the following is a form of consumer exploitation?

The State Electricity Board sells electricity at cheaper rates for domestic use than for commercial use. Given statement shows an act of ______.

What is an overdraft facility?

Differentiate between demand deposits and fixed deposits. (Three points)

State whether demand will be Elastic or Inelastic. Give reasons for your answer.

The demand for salt by households.

State whether demand will be Elastic or Inelastic. Give reasons for your answer.

A consumer prefers to postpone the purchase of a car to avail more of year ending discount.

Explain any three features of a monopoly market.

How is fixed deposit different from saving deposit?

Ram an employee and Shyam an elderly citizen was travelling by train from Delhi to Chennai separately. However, the cost of their tickets is different. Give reasons for the railways charging different prices to different customers.

How does the availability of substitutes of a commodity affect its price elasticity of demand?