(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 8 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?