ICSE Class 10 Question Paper 2020 for Economics

ECONOMICS
(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 Section A and any four questions from Section B.
The intended marks for questions or parts of questions are given in brackets [ ].

SECTION A (40 Marks)
Attempt all questions from this Section

Question 1

(a) Give any two points of differences between fixed and saving deposits. [2]

(b) Explain the meaning of Productivity of Land. [2]

(c) Mention the two sources of revenue for the government. [2]

(d) Explain any two duties of a consumer. [2]

(e) Define the term capital as a factor of production. [2]

Question 2

(a) What is meant by proportional tax? [2]

(b) Give any two points of differentiation between creeping inflation and [2]
running inflation.

(c) How does the price of a commodity affect the supply of a commodity? [2]

(d) Mention the first four stages of evolution of money. [2]

(e) Explain any one disadvantage of the barter system of exchange. [2]

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Question 3

(a) What is consumer awareness? [2]

(b) Define the term market. [2]

(c) Explain any one type of public debt. [2]

(d) What does public finance mean? [2]

(e) Give any two points of differentiation between perfect and monopolistic [2]
competition.

Question 4

(a) Explain the meaning of Composite Demand with the help of an example. [2]

(b) Define the term Money. [2]

(c) What is demonetisation? [2]

(d) Mention any two objectives of Goods & Services Tax (GST). [2]

(e) State two points of difference between revenue expenditure and capital [2]
expenditure.

SECTION B (40 Marks)

Attempt any four questions from this Section

Question 5

(a) (i) What is meant by Efficiency of labour? [5]

(ii) State any four reasons for low efficiency of labour in India.

(b) Explain any five ways by which consumers are exploited in India. [5]

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Question 6

(a) With reference to demand: [5]

(i) Explain the law of demand.

(ii) Draw a diagram representing law of demand.

(b) Explain any five factors affecting the demand for a commodity. [5]

Question 7

(a) Define land. Explain any four characteristics of land. [5]

(b) Briefly explain any five rights of a consumer. [5]

Question 8

(a) Explain briefly any five merits of Indirect taxes. [5]

(b) What are the reasons for growth of public expenditure in India? [5]

Question 9

(a) Explain any five characteristics of labour as a factor of production. [5]

(b) Mention five points of difference between a commercial and a central [5]
bank.

Question 10

(a) (i) What do you understand by relatively inelastic demand? [5]

(ii) Draw a well labelled diagram to show relatively inelastic demand.

(b) (i) What is the meaning of demand pull inflation? [5]

(ii) Explain any three causes of demand pull inflation.

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