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ICSE Class X Prelims 2023 : Economics (Campion School, Mumbai)

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Indian Certificate of Secondary Education (ICSE), New Delhi

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Sid. X I' C~l\ lPION SCllOOL, MlJ~IBAI l~l .Ll ;\,! lNARY l~XAMINATION Su h : h:onomics r Answer 10 rhis paper must be . ,me : 2 lu,urs '.\-lurl": 110 Y ou wi ll NOT be II ' . wrme~ on th~ pupcr providcd ~cparatcly. Tl . , . . a O\\cd to write during the lir:.t 15 minutes. D:ltc : 13/0 1/2023 lls lune IS to be spent in readin th . n,c lime given nt the head of this paper is the/ . e lqlucstd1on papc_r: . . ,me a O \\ c for wntmg the an!>\.\ er . .m brackets I J The mtcndcd marks for questions or pans ofq UCSlions, are g1vcn A.flempt all 111u:stions /rum Part /. A total offour questions ore lo be auempted Jnm, J>cm II PART I (Attempt all questions from this Part) Question 1. Choose the correct option for each of the following. i) We find price discrimination in this market. a) Monopolistic competition c) Monopoly ( 16) b) Perfect competition d) Duopoly ii) In the process of giving loans, banks arc able to create money thro ugh secondary deposits mor, than the initial primary deposits. a) LRR b) SLR c) Credit Multiplier d} Open Market Operations iii) Demonetization in India took place on _ _ 2016. a) November 8 d) November 9 c) November I0 d) November 11 iv) It is a circulating capital a) Machine b)Factory building c) Raw material d) Automobile v) March_ is celebrated as World Consumer Rights Day. a) 13 b) 14 c) 15 d) 16 vi) The barter system failed due to the following reason .... a) No government approval b) Lack of common measure of value c) Currency notes were easily available d) Introduction of meta\ and paper cwren vii) Good money should easily be recognised. What does this statement signify? a) Durability b) Cognipbility c) Stability d) Homogeneity. rnntd ...2 pr I ', Jlf) I 11 ' ,( ", riJ ,,,, I ~t' t, I I 1! ft, ~ , ,; : ,.. ,,,,1,,.1 ,, J: ;',-;:, I I J,., l,r [, ,,J ,, ~I,,,,. .,:. I ,, I."(. '" 1/. , I,,.,,! II ,, ., /j,f .,, .. } 1,,,, ~ ,., ,, :.,!,,f ;0,1,t! . ~, ,,, 11 ~,:!. ,,:.,,-. .-,1 1rt.p ,tf!: !sC 11,!,; fti 1 '..,,11:,~1;,, ..' '/IJ ,,f 1!~ :,r.: '! ,., 1<1 .c m J,flt.e 1,f v,11,1,!crnu: my r ,,,1-. q I ,.JI ,n 11,c , ,,111; ,.f .,,f, .1, vr; :~ ,,,.!. v. a . r! ,c AtJ 1;,.,1 .. , l\lfrt d 1.1;., ~t ..JI cv,,.,,,,.,.., ,,, d ~-.4;,!,,;, c~. . . v,: ,.,, ;,~ ,,f y: ,....1.. ,...;c- , .. ,1 ,f '!; ~ 1 t,, J.11,1,cll l' , , ,i11 , y 'fl,!! <fo:;.:;:,rn l>J t,J C J-----1 <-) A1---- -1 0 8 0 c.; ', .,'..:. / , ,._, I': ,! dJ I,. ,;.t. .I.,, w . J crfv. I; di: .'i'.. .;,;,; !.-: .c l'tt! ..:'... 11 s...~!~t..,:,.... ;,~:, c... ...:.t f~ cfa:, ,<:ly c.la .11:. ....;.;;!/ c. ... r. c f'c l;;! i\C.I)' irdl: . 1 . ...;,;,I/ <.,,.r ,c X xiii) A change in the pric.c of a tc:xt1 lc product and a t.hanic m lhc i;ri:...c <,I ir,ld c,i:r:1:l:...:,etY.J'>ly i\ an example ,,r ....... 1) 7Mo croH cla\ticity b) Scg:!:i\e croi.s cla ,iic1t} d) Som: c,f the l100\'C c) PMitivc er~" cla\ticily xlv)Tax a) lllepl payment c) Nol a compulsory payment b) Meant fo r the v.clfarc of selected few d) ~ one of the abo, c xv) Under this right lhe 1ovcmmcnl c:quircs all material as,t.1, of an individual \\ho is dead and has no lepl heir to tho property or IIN&I. a) Forfcilure b) EICbac c) Deficit proca- xvi) Expenditure done on Civil ., , ~ b)Prin r ..., v1 C1UIIIII- _ expenditure. d) Commercia l _ Contd.J r :3: (Ii) (}u",riun 2. a) What i\ puhlic cxpcnt.liturc'! Gi,c cxar.iplt:'>. h) niffcri;ntiatc bct,, ccn Gro!>\ and ~Cl t.lchl. c:J Diffcrcnriarc between Dirt:ct ant.I lntliret.l ta>.c~. d) f lighlight any two objective, for introdu(.tic,n <:i f GST. Quc.\ tiun 3. aJ Differentiate bd,, cen Central and Co mmercial banks. b) \\'hat role docs the C1:n11al bank play as a fi~al ag1:nt? c} Explain the entire process o f Credit Creation. ll) Explain Legal Reserve Ratio. (8) Question 4. a) bplain any two factors that influence productivity ofland. b) What is Capital Formation? c) State the assumptions to the law of supp ly. d) Why docs the demand curve slope downwards? PART II (Attempt any 4 questions from this p;irt} / \ '9uestion 5. a) Differentiate between Extension and Increase in demand. b) Explain the various types of demands. (5 ) (5) ~on6. a) Explain the 5 types ofelasticity of demand with the help o f schedule and graph. (5) b) Discuss the various factors influencing supply. (5) ~oa7. a) Define the term Capital as a factor of production and explain its features. b) I low are consumers exploited in India? Support your answer with exnmples. l 5) (5) ~8. a) Discuss in detail the primary function of a Commercial bank. \,S) b) Explain any three quantitative and two qualitative methods o f the Central Ban\.. to contro\ rn ~~ ~n9. a) Explain the primary and secondary functions ofMoney. (5) b) Define inflalion and explain the different stages of inflation. Question IO. a) What is Perfect competition? E.xplain any four of its features. {5) b) Deline the term Monopoly in an economic sense and discuss the c.1uscs b.:hinJ the emergence of Monopoly. (5)

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