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ICSE SUGGESTIVE ECONOMIC APPLICATIONS 2016

4 pages, 59 questions, 48 questions with responses, 58 total responses,    0    0
Siddharth Chhetri
Sarwan Memorial School (SMS), Banarhat, Jalpaiguri
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ICSE SUGGESTIVE ECONOMIC APPLICATIONS. 2016.. ALL THE BEST FOR THE EXAM 28TH MARCH.. . SECTION A (40 MARKS) ATTEMPT ALL THE QUESTIONS QUESTION 1. a. Explain briefly [2] i. Labour is inseparable from labourers. ii. Labour has alternative uses. b. What is meant by progressive taxation. Give an example.[2] c. State which type of market is a price maker .Give reason for your answer.[2] d. Draw a supply curve which is parallel to the X axis . State its elasticity.[2] e. State whether the it indicates elastic or inelasatic demand.[2] i. Maize ii. Diamond. iii. Railways iv . Protactor and compass for a maths student QUESTION 2. a. i. State to control what , does the Central bank increases the CRR.[2] ii. Which bank has the function to act as a clearing house in India.[2] b. Define the term floating capital. Give an example.[2] c. Give two points of difference between fiscal policy and monetary policy.[2] d. Mention two determinants of labour efficiency.[2] e. What is meant by price discrimination. To which market is this relevant to.[2] QUESTION 3. a. A commodity was of Rs 8 initially ,and demand for it by Kavya was 10 units.If the price falls by Rs 2 . How many units will be demanded by Kavya if the price elasticity of that commodity is 2.[2] b. State two objectives of national wage policy.[2] c. Give one example of each[2] i. Monopsony ii. Real capital iii. Public sector undertakings iv. Substitute goods. d. Explain briefly how the concept of elasticity of demand is useful to[2] i. Businessman ii. Government. e. Briefly explain any two secondary functions of money.[2] QUESTION 4. a. State two ways in which a deflationary situation can be controlled by qualitative credit control.[2] b. State whether it indicates a movement in supply curve or shift in supply curve, if it is movement then state whether is it extension or contraction and if it is shift then state whether it is rightward or leftward.[2] i. If the government of India increases the tax on a commodity . ii. The price of raw materials decreases, but other factors remain the same. c. Define economic growth. In what way is it different from economic development.[2] d. Identify the market form in which the products sold are homogenous ,and for this market state the type of demand curve faced by each firm.[2] e. Identify -to which factor of production can you relate them.[2] i. It is perishable ii. Earns profit. iii. produced means of production iv. its production is costless. SECTION B(60 MARKS) ANY 4. QUESTION 5. a. With reference to efficiency of labour answer the question that follows-[7] i. Define the term efficiency of labour ii. State two factors that influence it iii. Explain three reasons for low efficiency of labour. b. i. How does migration affect the changing land use pattern . Briefly explain.[8] ii . Production means creation of utility.Briefly explain. iii . State three stages of capital formation. QUESTION 6. a. i. Define inferior goods. Give one example. What will be the income elasticity of demand for this commodity. ii . Draw a linear demand curve touching both the axes mark mark five points on the demand curve to show different values of elasticity. State the formula to be used for finding elasticity of demand by using the point method. [7] b. i. Define privatization. ii . Give three arguments against privatization and explain them briefly. iii . Give three suggestions to overcome the problems faced by public sectors.[8] QUESTION 7. a. i. State and explain two conditions when the law of supply is not valid. ii . What is meant by relatively elastic supply. Explain it with the help of a suitable diagram. iii . Mention two assumptions to the law of supply.[7] b. i. Differentiate between limited legal tender and unlimited legal tender by giving one point for each. ii . Explain demand pull and cost push inflation with the help of suitable diagrams(graphs).[8] QUESTION 8. a. Define marginal productivity of land. Explain three factors affecting productivity of land.[7] b. With reference to monopoly market answer the following questions-[8] i. Mention any four of its features. ii. Mention three sources of monopoly power iii. Give one example of monopoly market. QUESTION 9. a. Considering the objectives of fiscal policy briefly explain the following points[7] i. To allocate resources for social benefits ii. Stabilisation of price iii. To promote economic growth. b. What is meant by commercial bank. With reference to its function explain the function mentioned below [8] i. Acceptance of deposits ii. Advancing of loans iii. Credit creation. QUESTION 10. a. i. State and explain one most important function of entrepreneur as per your choice. ii . Explain three points for the role of entrepreneur in economic development. [7] b. Give reasons for these [8] i. Indirect tax is regressive in nature. ii. Central bank is the lender of last resort. iii. Demand for electricity is highly elastic. iv. Monopolistic competition market is very popular . Paper prepared by Siddarth. (dgenerationx) DX

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