ECONOMICS
(Two hours)
Attempt all questions from Section A and any four questions from Section B. The intended marks for questions or parts of questions are given in brackets [ ].
Section A
Question 1
(a) Land is heterogeneous in nature. Explain.
(b) What is meant by efficiency of labour? Give one reason for low efficiency of labour in India.
(c) Mention two important characteristics of Capital as a factor of production.
(d) State two qualities of a successful entrepreneur.
(e) Mention two factors which gave birth to the Consumer Movement.
Question 2
(a) What are inferior goods? Give an example.
(b) Mention two reasons behind the leftward shift of a supply curve.
(c) What is meant by Price Elasticity of Demand? When will the Demand Curve be parallel to X-axis?
(d) Draw:
(i) Unitary Elastic Supply curve
(ii) Perfectly Inelastic supply curve
(e) Define Food Adulteration. Name two health problems caused due to adulterated food.
Question 3
(a) Mention two merits of direct tax.
(b) What is public expenditure?
(c) What is meant by productive and unproductive debt?
(d) State two differences between progressive and proportional taxation.
(e) Where should the consumer go to get justice? Mention two consumer rights.
Question 4
(a) State two primary functions of money.
(b) What is meant by double co-incidence of wants?
(c) Mention two advantages of a bank account.
(d) Briefly explain Creeping and Hyper inflation.
(e) Which section of society gains due to inflation? Why?
SECTION B
Attempt any four questions from this Section
Question 5
(a) Explain five reasons for the low rate of capital formation in India.
(b) What is meant by division of labour? Explain two advantages and two disadvantages of division of labour.
Question 6
(a) Define demand. Explain any four factors affecting the demand for a commodity.
(b) Distinguish between contraction of supply and decrease in supply with the help of diagrams.
Please refer to attached file for ICSE Class 10 2013 Question Paper Economics