Economics Specimen 2024: Sec-A Que-1 Solved for ICSE

Economics Specimen 2024: Sec-A Que-1 Solved for ICSE Sample Paper. Solutions of Question 1st of Section A by expert teachers. These solutions of ICSE Specimen paper 2024 are fully applicable as latest prescribe guideline of CISCE for upcoming board exam .

Economics Specimen 2024: Sec-A Que-1 Solved for ICSE Sample Paper

Board ICSE
Class  10th (x)
Subject Economics
Topic  Specimen Paper Solved
Sec  A
Question  1st  (MCQs)
Session 2023-24
Max mark 80

ICSE Economics Specimen 2024 Sec A Que 1

Question 1 Choose the correct answers to the questions from the given options. (Do not copy the question, write the correct answers only.)

(i) The ___________has to decide the reward for each factor of production.

(a) Organiser
(b) Worker
(c) Consumer
(d) Entrepreneur 

(ii) Capital expenditure is _________ in nature.

(a) Recurring
(b) Non recurring 
(c) Positive
(d) Persuasive

(iii) As a result of rise in consumer’s income, the demand curve for coarse-grain (inferior good) will:

(a) move upward along the same demand curve
(b) move downward along the same demand curve
(c) the demand curve will shift to the right
(d) the demand curve will shift to the left

(iv) There was difficulty in future payments under barter system due to:

(a) Lack of divisibility
(b) Lack of common measure of value 
(c) Lack of storage system
(d) Lack of standard of deferred payments

(v) Jute industry is an example of __________ division of labour.

(a) Product based
(b) Geographical based 
(c) Marketing based
(d) Production based

(vi) From the  visual depiction, identify the specific factor of production showcased in the image.

Economics Specimen 2024 Sec A Solved for ICSE Sample Paper

(a) land 
(b) capital
(c) labour
(d) entrepreneur

(vii) __________ market has one seller and many buyers.

(a) Perfect
(b) Perfectly
(c) Monopoly 
(d) Monopsony

(viii) If you make investments in insurances or mutual funds, then it will be called a __ type of capital.

(a) Investment
(b) Financial 
(c) Physical
(d) Profitable

(ix) Ms. Sakshi, an economics teacher, was explaining the concept of ‘minimum percentage of the total deposits to be kept by any commercial bank with the Central Bank of the country, as per norms prevailing in the country’. From the following choose the correct alternative which specifies towards the concept explained by her?

(a) Cash reserve ratio 
(b) Repo rate
(c) Bank rate
(d) Statutory liquidity ratio

(x) This refers to the legal definition of money-

(a) Anything which generally acts as money
(b) Money are those things which are used as a medium of exchange 
(c) Anything declared by the government as money is called money.
(d) Money consists of those things which have a high degree of portability

(xi) Which factor out of the following serves as the primary source of  consumption?

(a) Land 
(b) Labour
(c) Capital
(d) Entrepreneur

(xii) Which of the following is a determinant of market demand?

(a) Taste and Preferences 
(b) Consumer Credit Facility
(c) Income of the consumer
(d) Government policy

(xiii) In perfect competition the sellers are selling  __ products.

(a) Identical 
(b) Different
(c) Unique
(d) Inexpensive

(xiv) During barter exchange the rate of exchange was  arbitrarily fixed. This resulted from:

(a) Lack of common measure of Value 
(b) Lack of divisibility
(c) Problem of storing wealth
(d) Problem of deferred payment

(xv) Indian farmers are an example of ___ type of labour.

(a) Process based
(b) Monopoly based
(c) Product based
(d) Complex based 

(xvi) A shirt costing Rs.300 represents ____ function of money.

(a) Measure of value 
(b) Store of value
(c) Transfer of value
(d) Cognizable value

— End of Economics Specimen 2024 Sec A Que 1 MCQs Solutions :-

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