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

Explain any two characteristics of capital.

Mention two ways by which efficiency of labour can be improved.

Define the term demand.

Define labour.

Explain three causes of low capital formation in India.

Discuss three ways by which an entrepreneur promotes economic growth.

Discuss any three advantages of the division of labour.

State any two differences between an entrepreneur and other factors of production.

Draw a perfectly inelastic supply curve.

What is meant by the efficiency of labour?

Explain three causes of low efficiency of labour in India.

Define capital.

Distinguish between an entrepreneur and an organiser.

Mention two factors that determine the supply of labour.

Explain three important stages of capital formation.

State Distinguish between the simple division of labour and complex division of labour?

Define or explain the following concept:

Cross Elasticity of Demand

The income earned by an entrepreneur is residual in nature. Explain.

Mention five qualities of a good entrepreneur.

Define the division of labour.