Economics Specimen Paper 2023 Sec-A Que-1 Solved for ICSE Class-10

Economics Specimen Paper 2023 Sec-A Que-1 Solved for ICSE Class-10. Step by step solutions as council prescribe guideline of model sample question paper. Student can achieve their goal in next upcoming exam of council. Visit official website CISCE for detail information about ICSE Board Class-10..

Solutions of ICSE Class 10 Economics Specimen Paper 2023 Sec-A Que-1

Board ICSE
Class  10th (x)
Subject Economics
Topic Specimen Paper Solved
Syllabus Revised Syllabus
Session 2022-23
Sec-A Que-1 MCQs

 

ICSE Economics Specimen Paper 2023 Sec-A 

(Attempt all questions from this Section.)

Question 1: Choose the correct answers to the questions from the given options.

(Do not copy the question, write the correct answers only.)

(i) Labour earns as a factor of production.

(a) interest

(b) wages

(c) rent

(d) interest

Answer: (b) wages

(ii) When the percentage change in quantity demanded is equal to percentage change in price then it is called as  ……… demand.

(a) Unit elastic

(b) Relatively elastic

(c) Relatively inelastic

(d) Unique elastic

Answer: (d) Unique elastic

(iii) The concentration of cotton textile industries in Maharashtra and Gujarat are due to ………. based division of labour.

(a) territorial
(b) process
(c) product
(d) technological

Answer: product

(iv) When the government borrows money to builds dams and canal for the development of the country then it is called as ………. debt.

(a) productive
(b) unproductive
(c) gross
(d) developmental

Answer: developmental

(v) When the rate of inflation is between 20 to 100 percent per annum then it is called as ……… inflation.

(a) running
(b) walking
(c) galloping
(d) mild

Answer:  (c) galloping

(vi) GST is an example of ………. tax.

(a) goods
(b)  services
(c) social
(d) indirect

Answer: (d) indirect

(vii) The sum total of all debts is called as …………. debt.

(a) net
(b) gross
(c) public
(d) private

Answer: (a) net

(viii) Cash deposited by customers in commercial banks are also known as ……………. 

(a) Saving deposit
(b) Derivative deposit
(c) Secondary deposit
(d) Total deposit

Answer: (a) Saving deposit

(ix) If ………… is used again and again, its value depreciates gradually.

(a) capital
(b) cotton
(c) raw material
(d) electricity

Answer:  (b) cotton

(x) ………… represents downward movement along the same supply curve.

(a) Increase in supply
(b) Decrease in supply
(c) Contraction of supply
(d) Extension of supply

Answer: (c) Contraction of supply

(xi) License fee is an example of …………

(a) Citizen’s revenue
(b) Administrative revenue
(c) Tax revenue
(d) Commercial revenue

Answer: (b) Administrative revenue

(xii) ……….. should have the quality of farsightedness.

(a) Labour
(b) Entrepreneur
(c) Landlord
(d) Capitalist

Answer: ……………..

(xiii) Act of buying and selling of government securities by the central bank from and to the public is known as:

(a) Bank rate
(b) Minimum reserve ratio
(c) CRR
(d) Open market operation

Answer: (d) Open market operation

(xiv) ……….. spoils the nature and quality of food items.

(a) Illiteracy
(b) Lack of information
(c) Food adulteration
(d) Artificial scarcity

Answer:  (c) Food adulteration

(xv) The study of the nature and principles of government’s revenue and its expenditure is known as:

(a) Public debt
(b) Public expenditure
(c) Financial administration
(d) Public finance

Answer: (d) Public finance

(xvi) Which function of money facilitates future payments?

(a) Standard of deferred payment
(b) Transfer of value
(c) Measure of value
(d) Unit of value

Answer: (a) Standard of deferred payment

–: End of Economics Specimen Paper 2023 Sec-A Que-1 Solved for ICSE Class-10  :—

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