Economics Semester-1 ICSE Specimen Paper Solved Class-10. Step by step solutions of ICSE Class-10 specimen model sample paper. During solutions of semester-1 Economics specimen paper so that student can achieve their goal in next upcoming exam of council .
Economics Semester-1 ICSE Specimen Paper Solved Class-10
Board | ICSE |
Class | 10th (X) |
Subject | Economics |
Topic | Semester-1 ICSE Specimen Paper Solved |
Syllabus | on bifurcated syllabus (after reduction) |
session | 2021-22 |
Question Type | MCQ/ Objective (as prescribe by council) |
Total question |
Total- 50 |
Max mark | 40 |
Mode | Online |
Question 1 : The demand for goods which can be put to several uses is known as:
1. Competitive
2. Autonomous
3. Composite
4. Indirect
Solution : 3. Composite
Question 2: The productive capacity of a worker is called as
1. Efficiency of labour
2. Mobility of Labour
3. Supply of labour
4. Inefficiency of labour
Solution : 1. Efficiency of labour
Question 3 : Which of the following are considered as factors of production?
1. Land
2. Labour
3. Capital
4. All of them
Solution : 4. All of them
Question 4 : When production of goods is divided into several processes it is known as _________
division of labour.
1. Product based
2. Process based
3. Territorial based
4. Simple based
Solution : 2. Process based
Question 5 : Efficiency of labour is low in India due to
1. Congenial environment at work place
2. High wages
3. Migratory nature of labourers
4. None of the above
Solution : 3. Migratory nature of labourers
Question 6 : The demand for labour is _______
1. Direct
2. Derived
3. Free
4. Elastic
Solution : 2. Derived
Question 7: If the prices of factors of production increases, then the supply will:
1. Decrease
2. Increase
3. Zero
4. None of the above
Solution : 1. Decrease
Question 8: In economics demand and price have _______ relationship.
1.Zero
2.Positive
3.Direct
4.Inverse
Solution : 4.Inverse
Question 9: Capital earns ________ as factor income.
1. Wage
2. Rent
3. Profit
4. Interest
Solution : 4. Interest
Question 10: There are more possibilities of invention under ______ of labour.
1. Supply
2. Division
3. Mobility
4. None of the above
Solution : 2. Division
Question 11: Car and petrol are examples of _______ demand.
1. Complementary
2. Competitive
3. Substitute
4. Composite
Solution : 1. Complementary
Question 12: __________ possess general acceptability.
1. Cheque
2. Money
3. Bank draft
4. Bond
Solution : 2. Money
Question 13: Under monopoly market a firm/seller has_______
1. Partial control over price
2. Full control over price
3. No control over price
4. None of these
Solution : 2. Full control over price
Question 14: Homogenous products are sold under _________
1. Oligopoly market
2. Monopoly market
3. Perfect competition
4. Monopolistic competition
Solution : 3. Perfect competition
Question 15: These are five stages of evolution of money. Which of the following order is correct?
1. Bank, paper, metallic, commodity, animal.
2 Paper, metallic, Bank, commodity, animal.
3. Animal, commodity, metallic, paper, bank.
4. Animal, commodity, metallic, bank, paper.
Solution : 3. Animal, commodity, metallic, paper, bank.
Question 16: Simultaneous fulfilments of mutual wants by buyers and sellers are ______________
1. Common measure of value
2. Double coincidence of wants.
3. Divisibility of goods
4. Standard of deferred payment.
Solution : 2. Double coincidence of wants.
Question 17: There are a large number of buyers and sellers under a _____ market
1. Monopoly market
2. Perfect market
3. Oligopoly market
4. All of the above
Solution : 2. Perfect market
Question 18: Cotton and cotton seeds are examples of _______ supply
1. Jointly produced goods
2. Inferior goods
3. Composite goods
4. Inferior goods
Solution : 1. Jointly produced goods
Question 19: __________ earns income in the form of profit as a factor of production.
1. land
2. labour
3. capital
4. entrepreneur
Solution : 4. entrepreneur
Question 20: Capital as a factor of production is _____ in nature
1. Durable
2. Perishable
3. Immobile
4. Limited
Solution : 2. Perishable
Question 21: Electricity is an example of _________ demand
1. Complementary demand
2. Joint demand
3. Composite demand
4. Inferior demand
Solution : 3. Composite demand
Question 22: _________ payments are referred to those payments which are to be done in future
1. Deferred payments
2. Stable payments
3. Derived Payments
4. Indirect Payments
Solution : 1. Deferred payments
Question 23 : Oligopoly is a market situation in which there are only a ________ sellers in the industry
1. Few
2. Large
3. Futuristic
4. Maximum
Solution : 1. Few
Question 24: Land is a __________ factor of production.
1. Mobile
2. Immobile
3. Temporary
4. Active
Solution : 2. Immobile
Question 25 : Which of these following is not a characteristic of land?
1. Land is a direct demand
2. Land Varies in Fertility
3. Land is limited in supply
4. Land has many uses
Solution : 1. Land is a direct demand
Question 26: Under ________ system it is difficult to store value
1. Money exchange
2. Price exchange
3. Store exchange
4. Barter exchange
Solution : 4. Barter exchange
Question 27: Tea and Coffee are examples of _______.
1. Derived goods
2. Substitute goods
3. Inferior goods
4. All of the above
Solution : 2. Substitute goods
Question 28: If the cost of production is less then the supply will _______
1. Decrease
2. Increase
3. Be constant
4. Be Negative
Solution : 2. Increase
Question 29: Lack of divisibility is a problem of ________ system of exchange
1. Trade
2. Barter
3. Money
4. Capital
Solution : 2. Barter
Question 30 : Labourers have __________ bargaining power.
1. More
2. Less
3. Unlimited
4. Limited
Solution : 2. Less
Question 31: Indian farmer is an example of ____ type of labour
1. Process based
2. Monopoly based
3. Product based
4. Complex based
Solution : 4. Complex based
Question 32 : When income increases the demand for __________ types of good will increase
1. Inferior goods
2. Giffen goods
3. Normal goods
4. Coarse goods
Solution : 3. Normal goods
Question 33 : The producers prefer to supply more when the prices are __________
1. Low
2. High
3. Negative
4. Positive
Solution : 2. High
Question 34: Labour is __________ factor of production.
1. Passive
2. Active
3. Limited
4. Direct
Solution : 2. Active
Question 35: Land is fixed in two senses
1. Supply and Mobility
2. Demand and Immobility
3. Man made and Perishable
4. All of the above
Solution : 1. Supply and Mobility
Question 36: Detergent powder and detergent cake are examples of ____
1. Substitute goods
2. Complementary goods
3. Jointly demanded goods
4. Inferior goods
Solution : 1. Substitute goods
Question 37: When the government gives tax ___________ then the supply of goods will increase
1. Imposition
2. Restriction
3. Concession
4. Perfection
Solution : 3. Concession
Question 38: Demand for goods will increase during __________ period.
1. Inflation/Boom
2. Deflation
3. Depression
4. Stagnation
Solution : 2. Deflation
Question 39: __________ of labour is related to division of labour
1. Supply
2. Demand
3. Specialization
4. Universalization
Solution : 3. Specialization
Question 40: A shirt costing Rs.300 is _________ function of money
1. Measure of value
2. Store of value
3. Transfer of value
4. Cognizable value
Solution : 1. Measure of value
(End of Economics Semester-1 ICSE Specimen Paper)
Return to:- ICSE Class-10 Specimen Paper Semester-1 of 2021-22
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