Economic Applications (English Medium) ICSE Class 10 CISCE Syllabus 2025-26

• Individual Demand Schedule
• Market Demand Schedule

• Individual Demand Curve
• Market Demand Curve

• Determinants of Individual Demand
• Determinants of Market Demand

• Increase in Demand-Upward (Rightward) Shift in Demand
• Decrease in Demand-Downward (Leftward) Shift in Demand

• Price Elasticity of Demand (E_p)
• Income Elasticity of Demand (E_y)
• Cross Elasticity of Demand (E_c)

• Market Period Supply, Short Period Supply and Long Period Supply
• Individual and Market Supply
• Joint Supply and Composite Supply

• Individual Supply Schedule
• Market Supply Schedule

• Individual Supply Curve
• Market Supply Curve

• Increase in supply: Downward or Rightward Shift in Supply
• Decrease in supply: Upward or Leftward Shift in Supply

• Meaning
• Measurement of Elasticity of Supply
• Types of Elasticity of Supply
• Factors Determining Elasticity of Supply

• Meaning
• Measurement of Elasticity of Supply
• Types of Elasticity of Supply
• Factors Determining Elasticity of Supply

• Perfectly Elastic Supply
• Perfectly Inelastic Supply
• Unitary Elastic Supply
• Relatively Elastic Supply
• Relatively Inelastic Supply

• Percentage or Proportionate Method

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

• Characteristics of Labour
• Division of Labour
• Merits of division of labour 
• Demerits of division of labour 

• Forms of capital
• Characteristics of Capital

• Characteristics of Entrepreneur

• Average Productivity of Land
• Marginal Productivity of Land

• Definitions of industrialisation
• Characteristics of industrialisation

• Definitions of Urbanisation
• Characteristics of Urbanisation

1. Changes in land use pattern
2. Industrialisation
3. Mining
4. Urbanisation
5. Shifting Cultivation
6. Dwelling Units

• Characteristics of Labour
• Division of Labour
• Merits of division of labour 
• Demerits of division of labour 

• Simple (Personal or Occupational) 
• Complex or Process
• Horizontal and Vertical 
• Territorial or GeographicaI

• Advantages to producers
• Advantages to workers
• Advantages to consumers
• Advantages to the society

• Forms of capital
• Characteristics of Capital

• Wealth and Capital
• Money and 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

• Characteristics of Entrepreneur

• Visionary
• Innovator
• Risk Taker
• Analytical
• Good Interpersonal Skills
• Good Communication Skills

• Perfect Competition 
• Monopoly 
• Monopolistic Competition 
• Oligopoly 
• Monopsony

• Perfect Competition Or Perfectly Competitive Market
• Imperfect Competition
  1. Monopoly Market or Monopoly
  2. Monopolistically Competitive Market or Monopolistic competition
  3. Monopsony Market

• 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

• 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)

• Objectives of monetary policy
• Tools (Schemes) of Monetary Policy

• Reasons for Privatization
• The issue of privatization of public enterprises

• 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

• Animal money
• Commodity money
• Metallic money
• Metallic coins
• Paper Money
• Bank Money or Credit Money
• Plastic Money 
• Electronic Money

• Full Bodied Money
• Flat Money
• Legal Tender Money 
• Bank Money
• Near Money

• Creeping Inflation
• Walking or Trotting Inflation
• Running Inflation
• Hyper Inflation
• Open Inflation
• Repressed Inflation
• Stagflation
• Sectoral or Sporadic Inflation
• Comprehemive Inflation

• Demand pull factors
• Cost push factors

• 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.

• 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).

• Background of Nationalisation

• 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

• Stabilisation of the General Price Level
• Stabilisation of the Money Market
• Promoting Economic Growth

• Management of the Reserve Bank of India
• Needs for Having the Reserve Bank of India