Economics 2012-2013 (English Medium) ICSE Class 10 Question Paper Solution

Discuss any five advantages of having a bank account.

What is the difference between the impact of taxation and incidence of taxation?

What is meant by cost-push inflation?

Explain any three causes of cost-push inflation.

The bus fare between two cities is reduced. How will this affect the demand curve for bus travel between the two cities?

Differentiate the following with examples:

Real capital and debt capital

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

What is meant by expenditure tax? Give an example.

How does money solve the problem of lack a common measure of value that existed under the barter system?

How does the nature of a good effect its elasticity of demand?

Explain briefly the five agency functions of a commercial bank.

Explain three causes of low efficiency of labour in India.

Mention any two forms of consumer exploitation.

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

Indirect taxes are regressive in nature. How can they be made progressive?

Distinguish between demand deposits and fixed deposits.

Indicate the degree of elasticity of a supply curve parallel to the X-axis.

Distinguish between creeping inflation and running inflation.

How does money act as a standard of deferred payment?

Briefly explain the importance of public expenditure in the industrial development of developing countries.

Distinguish between statutory liquidity ratio and cash reserve ratio.

What is meant by an increase in demand?

Discuss any four factors affecting price elasticity of demand.

Define land.

Explain the importance of land as a factor of production.

Define supply.

State the law of supply.

Define a consumer.

Give two examples of consumers.

Explain the importance of educating consumers of their rights.

Name the institution which enjoys the monopoly of note issue

Briefly explain two qualitative methods of credit control adopted by this institution.

Define labour.

Explain four important characteristics of labour as a factor of production.

What is meant by food adulteration?

Give an example of food adulteration.

Mention two harmful effects of food adulteration.

Name any one measure formulated to prevent the problem of food adulteration in India.

Explain two methods adopted by Commercial banks to advance loans to the general public.

Why is the income of an entrepreneur residual in nature? Discuss any three functions of an entrepreneur.

Distinguish between Voluntary debt and compulsory debt.

Distinguish between Regressive tax and degressive tax

Define a tax. Explain briefly two merits and two demerits of direct taxes.

Define inflation.

Discuss the effects of inflation on Fixed income groups

Discuss the effects of inflation on Producers.