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ICSE Board Exam 2006 : Economic Applications

5 pages, 39 questions, 20 questions with responses, 27 total responses,    0    0
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ECONOMIC APPLICATIONS - 2006 (Two Hours) Answers to this Paper must be written on the paper provided separately. You will not be allowed to write during the first 15 minutes. This time is to be spent in reading the question paper. The time given at the head of this Paper is the time allowed for writing the answers. Attempt all questions from Part I and any four questions from Part II. The intended marks for questions or parts of questions are given in brackets [ ]. PART- I (40 Marks) Attempt all questions from this Part. Question 1 (a)What are inferior goods? Give an example. [2] (b) Draw diagram showing: (i) A perfectly elastic demand curve. [1] (b) Draw diagram showing: (ii) Elasticity of demand less than one. [1] (c) Substitute products A and B are produced by different firms. Give a reason why a change in the price of product A will bring about a change in quantity demand for product B. [2] (d) Given below are four statements. Indicate for each whether it reflects an increase or decrease in: Demand; quantity demanded; supply; quantity supplied. (i) Air Deccan reduces its average plane fare by 30% in order to attract more passengers. [1/2] (d) (ii) The Government grants export subsidy to producers of oranges in Nagpur to increase the sale of oranges abroad. [1/2] (d) (iii) Wheat farmers decide to withhold wheat as the market price is low. [1/2] (d) (iv) OPEC decides to increase the international oil price. [1/2]

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Additional Info : Solved ICSE Board exam paper study guide - ICSE 2006 : ECONOMIC APPLICATIONS - I.C.S.E. Free Online Question Paper
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