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

Mention an important difference between a Commercial Bank and the Central Bank.

Production of cotton textile products is an example of ______.

What do you mean by horizontal division of labour?

Give five points of difference between Commercial and Central Bank.

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

Any statement about demand for a good is considered complete only when the following is/are mentioned in it:

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

When at a price of ₹ 5 per unit of a commodity, A's demand is for 11 units, B's demand is for 14 units and C's demand is for units (assuming that there are only three consumers in the market), the market demand is ______.

Giffen goods are richman's goods

If prices of cars rise, many people may put off buying a new car. So the demand for petrol will fall.

If a good is inferior good, then purchases of that good will decrease when ______.

Pick the option which does not belong to the group:

State the law of demand.

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

Currency and ______ are two modern forms of money.

Who regulates money supply in India?

Money whose value as a commodity is equal to its face value is called:

Which of the following agency is responsible for issuing ₹ 1 currency note in India?

Which of the following institutions is authorised to issue currency in India? 

Which one of the following is not a modern form of money?