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ICSE Class X Prelims 2023 : Economics (Jasudben M. L. School (JML), Mumbai)

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Indian Certificate of Secondary Education (ICSE), New Delhi

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ono tansd Gujaral Rysearch Suciuly s JASUDBEN M. L. SCHOOL 1bote0 AND BLOOMINGDALes PRE-PRIMARY Dr. Madhuri Shah Campus, Ramakrishna Mission Preliminary 17h Roads, Khar, Mumbai 400 052 Road, Corner of 16h and 2022-2023 Examination- December 2022 Std. X enioibee Subject:Economics onco Date:8.12.2022 Time:-2 hours Marks: 80 marks provided separately Answer to this paper must be written on the paper 15 minutes. first the You will not be allowed to write during the question paper. This time is to be spent in reading allowed for writing the answers. time the The time given at the head of this paper is four questions from section B Section A is compulsory. attempt any are given in brackets [] of the intended marks for questions or part questions SECTION A(40 marks section) (Each question carries 2 marks this from section) (Attempt al questions in this (This Paper has 5 printed sides) Gd aJe/16m ego Question 1 from the given options. Choose the correct answers to the questions write the correct answers only) (Do not copy the question, i. [16 Indirect taxes tend to be highly. a. certain b. inconvenient C. arbitray d. Inflationary of a commodity which a firm is provide and offer for sale at a particular price during a specified period. supply refers a. Industry's supply b. Individual supply C. Market supply d. None of the above to the quantity willing to . Which function of the central bank helps to remove the balance of payments deficit? a. credit control b. custodian of foreign c. note issue exchange reserve d. advisory function iv. Which of the following products exhibit an elastic demand curve a. seasonal fruits b. sports car C. medicine d. alcohol V. Which right ensures that consumers get support or settlement against unfair practices? a. right to Seek Redressal b. right to be informed C. right to be heard d. right to choose VI. is an example hed of commercial revenue of the a. fees b. postage government. C. penalty d. escheat vii. is a qualitative tool to control credit. a. b. C. d. vii. ix. bank rate open market operations margin requirement cash reserve ratio One of the reasons why consumers are cheated is a. due to artificial security b. due to ignorance C. due to rude behaviour d. due to high pricesS The supply of agricultural commodities largely depends upon a. goals of the firms b. number of Producers C. human factors d. natural Factors 2 X. Indirect demand is also known as a. derived demand b. composite demand C. elastic demand occodo d. competitive demand Xi. The problem of keeping wealth for the future can be solved by which ofthe following functions of money? a. measure of value b. standard of deferred payment C. store of value d. transfer of value 6bre deposits are chequable. xii. a. fixed deposits b. savings deposits, C. recurring deposits d. regular deposits) xii. salesman doesn't show you your preferred If you want to buy a mobile phone, the Which be better and insists you to buy that. brand but suggests another claiming to right is violated? a. Right to be heard oliof etn b. Right to choose C. bremed Right to information d. Right to dispute xiv. Direct taxes a. Income are calculated on the basis of of tax-payers. b. Wealth C. Profits d. Honesty XV. is desirable for the Which type of inflation is considered safe and (a) creeping (b) walking (c) hyper (d) trotting 3 growth of the economy xvi. ldentify the market form for sneakersa. monopoly b. monopolistic competition C. oligopoly d. perfect competition Question2 a. What is meant by productive public debt? b. Explain money as a measure of value'7 C. Differentiate between Land and labour. d. Differentiate between a secured loan and an overdraft. [2] [2] (2] (21 Question 3 a. What are giffen goods? Why is it an exception to the law of demand? b. Differentiate between creeping and running inflation. C. How is fixed deposit different from savings deposits? d. Explain any two forms of food adulteration, [2] (2) (2] [21 Question 4 a. Who prefers recurring deposits to fixed deposits ? Why? b. In the following examples, identify the type of demand ? . ii. (21 (21 Demand for automobile engineers when demand for cars goes up Demand for cars and petrol. demonetisation. C. Explain the term d. How is division of labour beneficial to consumers? 12 [2] Section B (Attempt any four questions from this section) Question 5 1. Explain the merits of direct tax? 2. Differentiate between capital expenditure and revenue expenditure 5 [5] Question6 a. Explain the factors that affect the price elasticity of demand ? 5) b. Define the term "entrepreneur." Explain the coordination and supervision functions [5] of an entrepreneur. 4 Question 7 15) a. Explain the characteristics of Land. b. Graphically explain unit elasticity of dermand and perfectly elastic demand. b) Question 8 a. Distinguish between Perfect competition and monopolistic Competition. 5] bank enjoys a . What is a central bank? Give three reasons why the central 5] monopoly on note issue? Question9 and decrease in demand. (5 Distinguish between contraction of demand increase in public expenditure. (5 b. Explain the economic causes that lead to a. Question 10 a. of labour in Explain the causes of low efficiency b. Explain the law of supply. India? [5] 15

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