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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Thanks
I think ,the answer of question xii is entrepreneur 🤔
Yes, Achikali you are right!!!
Entrepreneur is defined as someone who has the ability and desire to establish, administer and succeed in a startup venture along with the risk entitiled to it, to make profits.
I found this answer on https://www.topperbhai.com/2022/07/icse-class-10-economics-specimen-paper-2023.html , they have also uploaded full specimen paper 2023 solution on their site both icse and isc subjects.