(English Medium) ICSE Class 10 - CISCE Important Questions for Economic Applications

In which type of market price discrimination is practiced? Explain with an example.

The image above shows a departmental store of a market structure.

1. Identify the form of market as observed from the above image.
2. Discuss the features of this market form with respect to:
   1. Type of product
   2. Entry and exit of firms
   3. Selling cost

Explain three features of Perfect competitive market.

How is Perfect competitive market is different from a monopoly market?

Selling costs are absent in perfect competition market.

Firm A hires the services of Rohit Sharma to act as the Brand ambassador for its products X. Identify the nature of market for commodity X.

What is the shape of the demand curve faced by any monopoly firm? Support your answer with a diagram.

State two dissimilarities between Monopolistic competition and Perfect competition.

“While shopping for fruits in the local market you see many seller selling fruits”. In this context answer the following:

1. What is the type of market referred to?
2. State and draw the type of demand curve faced by the market above.
3. Differentiate between the market indicated above and monopoly on the basis of:
   1. No. of sellers
   2. Market price
   3. Entry and exit of firms in the market

Citing reasons, evaluate the performance of private sector over public sector enterprises in the following case:

Timely completion of projects undertaken.

Citing reasons, evaluate the performance of private sector over public sector enterprises in the following case:

Decision taking.

Citing reasons, evaluate the performance of private sector over public sector enterprises in the following case:

Managerial efficiency.

Citing reasons, evaluate the performance of private sector over public sector enterprises in the following case:

Attention towards consumer satisfaction.

Identify the type of taxation shown in the figure below.

Study the relationship in the first pair of words and complete the second pair:

Income tax : Direct tax

______ : Indirect tax

Differentiate between progressive taxation and proportional taxation.

Name two instruments of Fiscal Policy.

What type of tax is the Goods and Services Tax?

State two features of indirect tax.

Explain how an increase in sales tax can cause an increase in price.