Economic Applications (English Medium) ICSE Class 10 CISCE Syllabus 2024-25


CISCE ICSE Class 10 Economic Applications Syllabus - Free PDF Download

CISCE Syllabus 2024-25 ICSE Class 10 : The CISCE ICSE Class 10 Economic Applications Syllabus for the examination year 2024-25 has been released by the Council for the Indian School Certificate Examinations, CISCE. The board will hold the final examination at the end of the year following the annual assessment scheme, which has led to the release of the syllabus. The 2024-25 CISCE ICSE Class 10 Economic Applications Board Exam will entirely be based on the most recent syllabus. Therefore, students must thoroughly understand the new CISCE syllabus to prepare for their annual exam properly.

The detailed CISCE ICSE Class 10 Economic Applications Syllabus for 2024-25 is below.

Academic year:


CISCE ICSE Class 10 Economic Applications Syllabus for Chapter 1: Demand and Supply: Basic Concepts

1 Elementary Theory of Demand
  • Concept for Demand  
  • Types of Demand  
  • Demand Schedule  
    • Individual Demand Schedule
    • Market Demand Schedule
  • Demand Curve  
    • Individual Demand Curve
    • Market Demand Curve
  • Determinants of Demand Or Demand Function  
    • Determinants of Individual Demand
    • Determinants of Market Demand
  • Law of Demand  
    • Assumptions of Law of Demand  
    • Exceptions to the Law of Demand  
  • Movement Along and Shifts in the Demand Curve  
  • Shift in Demand Curve  
    • Increase in Demand-Upward (Rightward) Shift in Demand
    • Decrease in Demand-Downward (Leftward) Shift in Demand
2 Elasticity of Demand
3 Theory of Supply
  • Concept of Supply  
  • Difference Between Supply and Stock  
  • Types of Supply  
    • Market Period Supply, Short Period Supply and Long Period Supply
    • Individual and Market Supply
    • Joint Supply and Composite Supply
  • Determinants Or Factors Governing the Supply  
  • Supply Function  
  • Supply Schedule  
    • Individual Supply Schedule
    • Market Supply Schedule
  • Supply Curve  
    • Individual Supply Curve
    • Market Supply Curve
  • Law of Supply  
    • Assumptions of the Law of Supply  
    • Exceptions to the Law of Supply  
  • Why Does the Supply Curve Slopes Upward to the Right  
  • Movement Along the Supply Curve and Shift in Supply Curve  
  • Movement Along the Supply Curve: Variations (Extension Or Contraction) of Supply  
  • Shift in Supply Curves  
    • Increase in supply: Downward or Rightward Shift in Supply
    • Decrease in supply: Upward or Leftward Shift in Supply
  • Distinction Between Change in Quantity Supplied (Or Movement Along Supply Curve and Change in Supply Or Shift of the Supply Curve)  
  • Distinction Between Expansion in Supply and Increase in Supply  
  • Distinction Between Contraction in Supply and Decrease in Supply  
  • Elasticity of Supply  
    • Meaning
    • Measurement of Elasticity of Supply
    • Types of Elasticity of Supply
    • Factors Determining Elasticity of Supply
4 Elasticity of Supply
  • Elasticity of Supply  
    • Meaning
    • Measurement of Elasticity of Supply
    • Types of Elasticity of Supply
    • Factors Determining Elasticity of Supply
  • Degrees of Elasticity of Supply  
    • Perfectly Elastic Supply
    • Perfectly Inelastic Supply
    • Unitary Elastic Supply
    • Relatively Elastic Supply
    • Relatively Inelastic Supply
  • Measurement of Elasticity of Supply  
    • Percentage or Proportionate Method
  • Factors Affecting Elasticity of Supply  

CISCE ICSE Class 10 Economic Applications Syllabus for Chapter 2: Factors of Production: Basic Concepts

4 Factors of Production
  • Production is Transformation  
  • Meaning of Production Mechanism  
  • Factors of Production  
  • Factors of Production - Land  

    Land: meaning and characteristics, functions and its importance; factors affecting the productivity of land

  • Factors of Production - Labour  

    Labour: meaning and characteristics; division of labour: meaning, types, advantages and disadvantages; efficiency of
    labour; meaning, reasons for the low efficiency of Indian labour

  • Factors of Production: Capital  
    • Forms of capital
    • Characteristics of Capital
  • Factors of Production Entrepreneur  
    • Characteristics of Entrepreneur
  • Relative Importance of Different Factors of Production  
5 Land
  • Land  
  • Characteristics of Land  
  • Functions of Land  
  • Importance of Land  
  • Productivity of Land  
    • Average Productivity of Land
    • Marginal Productivity of Land
  • Factors Affecting Productivity of Land  
6 Destruction of Ecosystem
  • Meaning of Ecosystem  
  • Industrialisation  
    • Definitions of industrialisation
    • Characteristics of industrialisation
  • Urbanisation  
    • Definitions of Urbanisation
    • Characteristics of Urbanisation
  • Migration  
  • Dwelling Units  
  • Mining  
  • Construction of Dams  
  • Shifting Cultivation  
  • Causes of Destruction of Ecosystem  
    1. Changes in land use pattern
    2. Industrialisation
    3. Mining
    4. Urbanisation
    5. Shifting Cultivation
    6. Dwelling Units
7 Labour
  • Factors of Production: Labour  
    • Characteristics of Labour
    • Division of Labour
    • Merits of division of labour 
    • Demerits of division of labour 
  • Characteristics of Labour  
  • Labour: an Important Factor of Production  
  • Entrepreneur - Special Type of Labour  
  • Labour and Economic Activities  
  • Division (Specialisation) of Labour  
  • Types of Division of Labour  
    • Simple (Personal or Occupational) 
    • Complex or Process
    • Horizontal and Vertical 
    • Territorial or GeographicaI
  • Advantages of Division of Labour  
    • Advantages to producers
    • Advantages to workers
    • Advantages to consumers
    • Advantages to the society
  • Disadvantages of Division of Labour  
  • Necessary Conditions for the Division of Labour  
  • Efficiency of Labour  
  • Reasons for Low Efficiency of Labour in India  
  • Suggestions for Improving the Efficiency of Indian Workers  
8 Capital and Capital Formation
  • Factors of Production: Capital  
    • Forms of capital
    • Characteristics of Capital
  • Difference Between Capital and Other Related Concepts  
    • Wealth and Capital
    • Money and Capital 
  • Differences Between Land and Capital  
  • Differences Between Capital and Labour  
  • Characteristics of Capital  
  • Types of Capital  
    • Trade Capital and Social Capital
    • Fixed Capital and Working Capital
    • Sunk Capital and Floating Capital
    • Concrete Capital, Money Capital and Debt Capital
    • Internal Capital and External Capital
    • National Capital and International Capital
    • Consumption Capital and Production Capital
    • Private Capital and Public Capital
    • Remunerative Capital and Auxiliary Capital
  • Functions of Capital  
  • Capital Formation  
  • Is Land Capital?  
  • Factors Influencing Or Affecting Capital Formation  
  • Significance of Capital Formation  
  • Causes of Low Rate of Capital Formation  
  • Suggestions to Raise Rate of Capital Formation  
9 Entrepreneur
  • Factors of Production Entrepreneur  
    • Characteristics of Entrepreneur
  • Functions of an Entrepreneur  
  • Difference Between Entrepreneur and Organisation  
  • Distinction Between Labour and Entrepreneur  
  • Distinction Between Capitalist and Entrepreneur  
  • Qualities to Be a Successful Entrepreneur  
    • Visionary
    • Innovator
    • Risk Taker
    • Analytical
    • Good Interpersonal Skills
    • Good Communication Skills
  • Role of Entrepreneurs in Economic Development  

CISCE ICSE Class 10 Economic Applications Syllabus for Chapter 3: Alternative Market Structures: Basic Concepts

10 Nature and Structure of Markets
  • Alternative Market Structures  
  • Concept of Market  
  • Characteristics of Market  
  • Forms of Market Structure  
    • Perfect Competition 
    • Monopoly 
    • Monopolistic Competition 
    • Oligopoly 
    • Monopsony
  • Factors Determining Forms of Market  
  • Market Structures  
    • Perfect Competition Or Perfectly Competitive Market
    • Imperfect Competition
      1. Monopoly Market or Monopoly
      2. Monopolistically Competitive Market or Monopolistic competition
      3. Monopsony Market
  • Extent of Market  
  • Similarities Between Monopolistic Competition and Perfect Competition  
  • Similarities Between Monopolistic Competition and Monopoly  

CISCE ICSE Class 10 Economic Applications Syllabus for Chapter 4: The State and Economic Development

11 The State and Economic Development
  • The State and Economic Development  
  • Introduction of Public and Private Sector  
    • Definition of Public Sector
    • History of public Sector
    • The objectives of Public Sector
    • Socio-Economic Development
    • Indicators of Socio-Economic Development
    • Gross Domestic Product (GDP)
    • Life Expectancy
    • Literacy
    • Employment
    • Provision of House , Clean Drinking Water and Sanitation
    • Importance of Public sector
    1. Public Sector and Capital Formation
    2. Economic Development
    3. Balanced Regional Development
    4. Employment Generation
    5. Export Promotion and Foreign Exchange Earnings
    6. Protection to Sick Industries
    7. Import Substitution
    • Difference between Public sector and private sector
    • Definition of Private sector
    • Functions of Private Sector
  • Functions of the State in Promoting Economic Development  
  • Role of State in Economic Development  
12 Instruments of State Intervention
  • The Instruments of State Intervention  
  • Meaning of Fiscal Policy  
  • Objectives of Fiscal Policy  
  • Instruments of Fiscal Policy  
  • Types of Taxes  
    • Proportional Tax
    • Progressive Tax
    • Regressive Tax
    • Degressive Tax
    • Direct Taxes:
      1. Income tax
      2. Corporate tax
      3. Wealth tax
    • Indirect Taxes:
      1. Stamp duty 
      2. Entertainment tax
      3. Excise duty
    • Service Tax
    • Sales Tax or VAT
    • Goods and Services Tax (GST)
  • Monetary Policy  
    • Objectives of monetary policy
    • Tools (Schemes) of Monetary Policy
  • Distinction Between Monetary and Fiscal Policy  
13 Public Sector Enterprises
  • Public Sector Enterprises  
  • Role of Public Sector Enterprises  
  • Problems of Public Sector Enterprises/Reasons for Declining Popularity of Public Sector  
  • Suggestions to Improve the Efficiency of Public Sector Enterprises  
14 Privatization of Public Enterprises
  • Privatization of Public Enterprises  
    • Reasons for Privatization
    • The issue of privatization of public enterprises
  • Need for Privatisation  
  • Rationale of Privatisation in India  
  • Reasons in Favour of Privatisation  
  • Pre-requisites for Privatisation  
  • Limitations of the Privatisation  
  • Suggestive Framework for Privatisation  
  • Arguments for Privatisation Or Disinvestment  
  • Arguments Against Privatisation (Or Disinvestment)  
  • Privatisation in India  

CISCE ICSE Class 10 Economic Applications Syllabus for Chapter 5: Money and Banking: Basic Concepts

15 Money and Inflation
  • Money  
  • Concept for Barter System  
  • Inconveniences Or Difficulties of Barter System  
  • Functions of Money  
    • Primary or main functions 
    1. Medium of exchange or means of payment
    2. Measure of value
    • Secondary functions
    1. Standard of deferred payment
    2. Store of value or store of purchasing power
    3. Transfer of value or transfer of purchasing power
    • Contingent functions
  • Importance of Money  
  • Types of Money  
    • Animal money
    • Commodity money
    • Metallic money
    • Metallic coins
    • Paper Money
    • Bank Money or Credit Money
    • Plastic Money 
    • Electronic Money
  • Forms of Money  
    • Full Bodied Money
    • Flat Money
    • Legal Tender Money 
    • Bank Money
    • Near Money
  • Features of Money  
  • Introduction of Inflation  
  • Characteristics of Inflation  
  • Types of Inflation  
    • Creeping Inflation
    • Walking or Trotting Inflation
    • Running Inflation
    • Hyper Inflation
    • Open Inflation
    • Repressed Inflation
    • Stagflation
    • Sectoral or Sporadic Inflation
    • Comprehemive Inflation
  • Causes of Inflation  
    • Demand pull factors
    • Cost push factors
  • Effects of Inflation  
    • Positive and negative effects of inflation on production.
    • Positive and negative effects of inflation on distribution with reference to fixed income group and business income group only.
  • Anti-inflationary Measures  
16 Banking : Commercial Banks and Central Bank
  • Meaning of Commercial Banks  
  • Importance of Banks  
  • Commercial Banks: Functions  
    • Meaning of Commercial Bank
    • Functions of Commercial banks
    1. Accepting deposits (a brief understanding of the types of deposits);
    2. Advancing loans (a brief understanding of the types of loans, methods of advancing loans);
    3. Credit creation (a brief understanding of credit creation on the basis of Primary and derivative deposits).
  • Money Creation Or Credit Creation by the Commercial Banking System  
  • Nationalisation of Banks  
    • Background of Nationalisation
  • Meaning of Central Bank  
  • Differences Between a Central Bank and a Commercial Bank  
  • Need for a Central Bank  
  • Functions of a Central Bank  
    • Bank of Note-Issue
    • Banker, Agent and Advisor to the Government
    • Banker to the Banks (or Bank of Banks) and Supervisor
    • Custodian of Foreign Exchange Reserves
    • Controller of Credit
  • Monetary Policy of the Central Bank  
  • Various Aspects of Credit Control Measures  
  • Objectives of Credit Control  
    • Stabilisation of the General Price Level
    • Stabilisation of the Money Market
    • Promoting Economic Growth
  • Method of Credit Control - Qualitative  
  • Reserve Bank of India  
    • Management of the Reserve Bank of India
    • Needs for Having the Reserve Bank of India

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