ICSE Class 10 2013 Question Paper Economic Applications

ICSE Class 10 2013 Question Paper Economic Applications. Students can download the last year question papers using the link below. Free download of examination question papers with solutions. Last 10 year question papers should be practised to get better marks in examinations. 

ECONOMIC APPLICATIONS

(Two hours)

Attempt all questions from Part I and any four questions from Part II. The intended marks for questions or parts of questions are given in brackets [ ].

Part-I

Question 1

(a) State the Law of Supply. 

(b) Draw a demand curve whose elasticity is equal to one. 

(c) Define Labour and give one characteristic of labour. 

(d) Can a monopolist charge different prices for the same product? Justify your answer.

(e) Distinguish between limited legal tender and unlimited legal tender.

Question 2

(a) Mention two determinants of demand. 

(b) Discuss one function of an entrepreneur. 

(c) Briefly explain the nature of Sales Tax. 

(d) Give one point of distinction between the Central Bank and a Commercial Bank. 

(e) Discuss one factor which increases productivity of land in India.

Question 3

(a) Give one distinguishing feature of Monopoly with an example from the Indian Economy.

(b) What kind of tax structure does India have? Define it. 

(c) What is meant by Public Debt? 

(d) Explain circulating capital with an example. 

(e) Give one cause for a rightward shift in the supply curve. 

Question 4

(a) Give one difference between qualitative and quantitative credit control. 

(b) Name two instruments of Fiscal Policy. 

(c) What is the effect of inflation on the fixed income group? 

(d) Why does a supply curve slope upwards? 

(e) Define Monetary Policy. 

PART II 

Answer any four questions from this Part.

Question 5

(a) Does a demand curve always have a negative slope? Justify your answer with four reasons.

(b) Distinguish between increase and extension in supply with suitable diagrams. 

Question 6

(a) Write two similarities and two dissimilarities between Perfectly Competitive Market and Monopolistically Competitive Market.

(b) Discuss any four causes by which the ecosystem has been destroyed due to the changing pattern of land use.

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