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Economics 2013-2014 (English Medium) ICSE Class 10 Question Paper Solution

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Economics
Marks: 80 CISCE
(English Medium)

Academic Year: 2013-2014
Date: मार्च 2014
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Attempt All Question From Question 1 to Question 4

Attempt Any Four From Question 5 to Question 10


[10]1 | State whether the following statements are true or false. Give reasons.
[2]1.1

Briefly explain two methods that increase land productivity.

Concept: undefined - undefined
Chapter: [0.01] Factors of Production
[2]1.2

What is meant by price elasticity of demand?

Concept: undefined - undefined
Chapter: [0.03] Elasticity of Demand
[2]1.3

Distinguish between sunk capital and floating capital

Concept: undefined - undefined
Chapter: [0.01] Factors of Production
[2]1.4

Give two reasons for consumer exploitation in India.

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Chapter: [0.14] Consumer Awareness
[2]1.5

Distinguish between an entrepreneur and an organiser.

Concept: undefined - undefined
Chapter: [0.01] Factors of Production
[10]2
[2]2.1

State two factors affecting the market demand for a commodity.

Concept: undefined - undefined
Chapter: [0.02] Elementary Theory of Demand
[2]2.2

Mention two factors that determine the supply of labour.

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Chapter: [0.01] Factors of Production
[2]2.3

What is meant by the term demand-pull inflation?

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Chapter:
[2]2.4

Progressive taxation is suitable for the Indian economy. Give reasons to support your answer.

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Chapter: [0.1] Public Revenue
[2]2.5

Distinguish between a tax and a fee.

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Chapter:
[10]3
[2]3.1

Public expenditure in India has increased over the years. Explain four principal reasons for its increase.

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Chapter: [0.11] Public Expenditure
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[2]3.2

Distinguish between limited legal tender and unlimited legal tender.

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Chapter: [0.06] Meaning and Functions of Money
[2]3.3

Define simple division of labour.

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Chapter: [0.01] Factors of Production
[2]3.4

Give the full form of COPRA.

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Chapter: [0.14] Consumer Awareness

How does COPRA benefit consumers?

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Chapter: [0.14] Consumer Awareness
[2]3.5

Discuss any two contingent functions of money.

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Chapter: [0.06] Meaning and Functions of Money
[10]4
[2]4.1

Explain "Banker to the Government" function of the Central Bank.

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Chapter: [0.08] Central Bank
[2]4.2

Name any two sources of external debt for India.

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Chapter:
[2]4.3

State two differences between the tax on income and tax on the commodity.

Concept: undefined - undefined
Chapter:
[2]4.4

Draw a supply curve.

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Chapter: [0.04] Theory of Supply
[2]4.5

Briefly explain any one exception to the law of demand.

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Chapter:
[10]5
[5]5.1

Define land.

Concept: undefined - undefined
Chapter: [0.01] Factors of Production

Explain four characteristics of land as a factor of production.

Concept: undefined - undefined
Chapter: [0.01] Factors of Production
[5]5.2

What is meant by the efficiency of labour?

Concept: undefined - undefined
Chapter: [0.01] Factors of Production

State four factors which determine the efficiency of labour.

Concept: undefined - undefined
Chapter: [0.01] Factors of Production
[5]6
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[5]6.1

What is meant by capital formation

Concept: undefined - undefined
Chapter: [0.01] Factors of Production

Explain three important stages of capital formation.

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Chapter: [0.01] Factors of Production
[5]6.2

Draw a demand curve with the help of a hypothetical individual demand schedule.

Concept: undefined - undefined
Chapter:
[10]7
[5]7.1

Define supply.

Concept: undefined - undefined
Chapter: [0.02] Elementary Theory of Demand

Explain three reasons for the rightward shift of the supply curve.

Concept: undefined - undefined
Chapter: [0.04] Theory of Supply
[5]7.2

(i) Define Public debt. 
(ii) What are Redeemable debts?
(iii) Mention two examples of unproductive debt.

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Chapter:

Explain four types of public debt.

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Chapter:
[10]8
[5]8.1

Define a commercial bank.

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Chapter:

How do commercial banks mobilise deposits from the public?

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Chapter:
[5]8.2

Discuss any three advantages of the division of labour.

Concept: undefined - undefined
Chapter: [0.01] Factors of Production
[5]9
[5]9.1

Define inflation.

Concept: undefined - undefined
Chapter: [0.13] Inflation

Explain four causes of inflation.

Concept: undefined - undefined
Chapter: [0.02] Elementary Theory of Demand
[5]9.2

What is meant by quantitative credit control?

Concept: undefined - undefined
Chapter: [0.08] Central Bank
[10]10
[5]10.1

Mention one way by which consumers are exploited in the market. 

Concept: undefined - undefined
Chapter: [0.14] Consumer Awareness
[5]10.2

With the help of a suitable diagram, explain the following degree of elasticity of supply.

Es = ∞

Concept: undefined - undefined
Chapter: [0.04] Theory of Supply

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