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ICSE Notes 2016 : Economic Applications

2 pages, 40 questions, 28 questions with responses, 30 total responses,    0    0
Gunjan Maheshwari
Nirmala Convent School, Jalpaiguri
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ECONOMIC APPLICATIONS- CLASS X BASED ON: DEMAND, SUPPLY & ELASTICITY 1. How the goods X and Y are related, if the rise in the price of the good Y results in: (i) Leftward shift in the demand curve of good X (ii) Rightward shift in the demand curve of good X 2. Elasticity of supply is found to be 2. Quantity supplied increases by 20 per cent in response to increase in price. Find the new price when the initial price happens to be Rs.20 per unit. 3. How is the price elasticity of demand affected by the proportion in the total expenditure? 4. Define market period. Graphically show the shape of supply curve in this period. 5. How does the change in the goal/motive from sales maximization to profit maximization affect the supply curve? 6. What is inferior good? How is it different from Giffen Good? 7. What causes the inverse relation between quantity demanded for a commodity and its price? BASED ON: MONEY & BANKING 1. Why is the Reserve Bank of India known as Lender of the Last Resort? 2. How does the reduction in CRR affect the loan able fund? 3. What are the components (measures) of money supply in India? 4. Creeping Inflation is regarded as essential for economic growth. Explain. 5. Explain the primary functions of money. 6. Point out the differences between the Central Bank of a country and commercial banks. BASED ON: THE STATE AND ECONOMIC DEVELOPMENT 1. Mention any two objectives of wage policy 2. How is indirect taxation regressive in nature? 3. Enumerate few fiscal measures undertaken by the government to combat inflation. 4. Growth of Monopoly Power and greater incidence of unemployment and poverty are two of the most important arguments against Privatization. Explain. 5. Explain the following reasons for the poor performance of public sector: (i) Lack of Functional Autonomy

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