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

Assertion (A): Demand for a commodity with large number of substitutes with be less elastic.

Reason (R): With large number of substitutes, even a small rise in its price will induce the buyers to go for its substitutes.

The nature of a commodity determines its price elasticity of demand. Explain.

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

Explain briefly the factors on which elasticity of demand depends.

When will the demand curve be parallel to x-axis?

Comment upon the shape of the demand curve, if E_d = 0.

State 3 factors which affect price elasticity of demand.

Discuss any three/ four factors determining price elasticity of demand.

Following is the feature of perfect competition:

Following is not the feature of perfect competition:

'Homogeneous products' is a characteristic of ______.

Differentiated products is a characteristic of ______.

'A few big sellers' is a characteristic of ______.

Marginal revenue of a firm is constant throughout under:

A seller cannot influence the market price under:

In monopolistic competition, there are ______.

Indian Railways is an example of ______.

A monopolist is price maker:

Match the following and select the correct option: 

Indian Oil Corporation Limited is an example of a/an ______.