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

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 ______.

State the law of demand.

Explain four circumstances under which the law of demand does not operate.

Identify the correct statement from the following alternatives:

The following table shows the amount of sugar bought by a household at different prices:

Does the behaviour of household contradict the law of demand? Give reasons in support of your answer.

The law of supply is based on the assumption of ______.

State whether the following statement is true or false. Give reasons.

The law of demand states a direct relationship between price and demand.

Explain any two similarities between a perfect market and a monopolistically competitive market.

Mention two assumptions of the law of supply.

State the law of supply.

Other things remaining unchanged, change in supply due to increase in price is called ______.

Law of supply states that ______.

State the similarities between monopolistic competition and monopoly. 

The producers prefer to supply more when prices are ______.

Explain the law of supply.

Price and Supply move in the same direction. Justify the statement.

State and explain the law of supply with the help of a diagram.

What is supply function?

What does RTI stand for?

What provision is provided under RTI Act to the citizens of the country?