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

Give two reasons for the operation of the law of demand.

What is meant by the income effect of a fall in the prices of a commodity?

What is meant by the income effect of a fall in the price of the commodity?

Define the term cementer awareness.

Mention any two duties of a consumer.

Explain briefly anyone determinant of an exceptional demand curve.

How does proportional tax differ from progressive tax?

Mention one way by which consumers are exploited in the market. 

Explain clearly three reasons as to why consumers are exploited.

Progressive taxation is suitable for the Indian economy. Give reasons to support your answer.

Public Distribution system is an _______ measure of government to protect the consumers.

Explain the term progressive tax.

Mention one exception to the law of demand. Give one point only.

State two circumstances under which the demand curve slopes upwards to the right.

Explain the following diagram with reference to the concept of Giffen goods.

The demand curve can slope upwards from left to right. Give one argument in support of this statement.

Why are prestige good an exception to the law of demand?

Law of supply does not apply to ______.

The supply of perishable goods like milk, vegetables, fish is ______.

Discuss any two exceptions to the law of supply.

State one exception to the law of supply.