(English Medium)
Academic Year: 2024-2025
Date & Time: 28th February 2025, 11:00 am
Duration: 2h
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- Answers to this Paper must be written on the paper provided separately.
- You will not be allowed to write during the first 15 minutes.
- This time is to be spent in reading the question paper.
- The time given at the head of this Paper is the time allowed for writing the answers.
- Attempt all questions from Section A and any four questions from Section B.
- The intended marks for questions or parts of questions are given in brackets [ ].
In economics, what does the capital earn as income?
Wages
Rent
Profit
Interest
Chapter:
Which of the following are examples of substitute goods?
Coke and Coffee
Pencil and Eraser
Tea and Sugar
Apple iPhones and Samsung Smartphones
Chapter:
Assertion (A): Mr. Gupta earns a fixed income every month, but he tends to get adversely affected during inflation.
Reason (R): The prices of goods, services and the cost of living, does not rise in the same proportion as income, during inflation.
Both (A) and (R) are true and (R) is the correct explanation of (A).
Both (A) and (R) are true but (R) is not the correct explanation of (A).
Both (A) and (R) are false.
(A) is false and (R) is true.
Chapter:
Amit buys 1 kg of mangoes at 120 per kg. Other things remaining constant, when the price of mangoes falls to 90 per kg, he buys 2 kg of mangoes. Amit’s choice in the given situation shows which concept?
Demand schedule
Market demand
Contraction of demand
Expansion of demand
Chapter:
The rate of tax, which is uniform for all the taxpayers, is termed as ______.
Progressive
Proportional
Regressive
Direct
Chapter:
Which factor will be responsible for ‘product diversification’ through innovation?
Labour
Entrepreneur
Capital
Landowner
Chapter:
Statement 1: The primary function of money is to act as a ‘store of value’.
Statement 2: Money helps in monetary expression of the market value of the commodity.
Both Statement 1 and Statement 2 are true.
Both Statement 1 and Statement 2 are false.
Statement 1 is true and Statement 2 is false.
Statement 1 is false and Statement 2 is true.
Chapter:
BIS stands for ______.
Bureau of Indian States
Bureau of Indian Standards
Bureau of Indian System
Bureau of Indian Solutions
Chapter:
Study the table and examine the relation between price and quantity supplied:
| Price (₹) | Quantity supplied (kgs) |
| 10 | 5 |
| 12 | 7 |
| 14 | 9 |
Positive
Negative
Indirect
Proportional
Chapter:
Which market structure has the least number of sellers?
Oligopoly
Monopolistic competition
Monopsony
Perfect competition
Chapter:
Direct taxes are regressive in nature.
True
False
Chapter:
The above image depicts stages of ______.
Capital formation
Capital returns
Capital movement
Investment of savings
Chapter:
Radhika cannot postpone her demand for woollen clothes during winter season but at the same time can postpone her demand for a car. This is because her demand for woollen clothes is ______.
Elastic
Inelastic
Highly Elastic
Unit Elastic
Chapter:
Study the relationship in the first pair of words and complete the second pair.
- Revenue earned by the government through railway fares: Commercial revenue
- Revenue earned through Special Assessment: ______.
Direct tax
Indirect tax
Administrative
Commercial
Chapter:
Efficiency of labour shows the productive capacity of a labourer, whereas division of labour shows ______ of labour.
Specialisation
Utilisation
Quantity
Perishability
Chapter:
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Identify the type of debt raised by the government for organising relief camps during natural disasters.
Productive
Unproductive
Gross
Funded
Chapter:
There is a positive correlation between entrepreneurship and economic development.
Justify the statement with two suitable reasons.
Chapter:
What is an extension of supply?
Chapter: [4] Theory of Supply
Identify and explain the type of division of labour shown in the above images.
Chapter:
How was Standard of Deferred payment a problem for Barter System of Exchange?
Chapter:
The following image shows, ‘Tolls as a source of revenue for State as well as Central government.’ [4]
Identify and explain the type of revenue mentioned in the above statement. [1]
Chapter:
State one difference between Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR).
Chapter:
Explain the term revenue expenditure of the government.
Chapter:
‘Mobile phone and laptop are examples of composite demand.’ Justify the statement with a suitable reason.
Chapter:
Why is capital considered to be ‘result of past savings’?
Chapter:
What is the implication of ‘restricted entry of new firms’ in a monopoly market?
Chapter:
A shopkeeper adds brick powder to chilli powder and he colours different vegetables with harmful dyes to make them look bright and fresh. Identify the concept expressed in the above statement and mention the consumer right which has been violated.
Chapter:
Explain any three causes of cost-push inflation.
Chapter: [13] Inflation
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The following table represents increase in demand, answer the following questions:
| Price (₹) | Quantity demanded (kgs) |
| 10 | 5 |
| 10 | 7 |
Give a diagrammatic representation based on the above data.
Chapter:
Explain any two factors that affect the increase in demand.
Chapter:
State and explain any three reasons why consumers are exploited by retailers or producers.
Chapter:
RBI’s latest demonetisation measure was declared on 19th May 2023. As per RBI’s ‘clean note’ policy, it withdrew all ₹2,000 notes from circulation. In context of the above statement answer the following questions:
- What is demonetisation?
- State any three objectives of demonetisation.
Chapter:
Identify and define the market structure depicted in the above image.
Chapter:
Give three differences between Perfect Competition Market and Oligopoly market.
Chapter:
Give a diagrammatic representation of Relatively Elastic Supply.
Chapter:
What is meant by an overdraft facility given by a commercial bank?
Chapter:
Distinguish between demand deposits and fixed deposits.
Chapter: [7] Commercial Banks
Explain any five determinants affecting the demand for goods.
Chapter:
What factors contribute to the lower efficiency of labour in India as compared to the developed nations?
Chapter:
Read the extract and answer the following questions.
The Central Bank of a country is called ‘central’ because it is the apex institution of the entire banking system of the country. The Central Bank has a very important role in ‘stabilising’ the economy. All the other banks in the economy are subject to control from this bank. The Central Bank itself is subject of the overall control of the government.
‘RBI provides a convenient and economical device for settling interbank claims.’ Justify the statement with a valid reason.
Chapter:
Why is Central Bank called as a ‘Lender of last resort’?
Chapter:
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CISCE previous year question papers ICSE Class 10 Economics with solutions 2024 - 2025
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