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ICSE Class X Board Examination

ICSE Economics — Specimen Question Paper 2024

Specimen2024Subject code 641
Open source paper at static.collegedekho.com (opens in a new tab)
Board
ICSE Class X Board Examination
Class
Class 10
Subject
Economics
Year
2024
Total marks
Not verified
Duration
Not verified

Verification and rights

Checked against a named, citable source that is recorded with the record.

Imported specimen paper from CollegeDekho (mirror of CISCE PDF) on 2026-08-29.

Questions in this paper

Section A

  1. 1((ii))16] Choose the correct answers to the questions from the given options. (Do not copy the question, write the correct answers only.)
    Capital expenditure is _________ in nature.
  2. 1((iii))16] Choose the correct answers to the questions from the given options. (Do not copy the question, write the correct answers only.)
    As a result of rise in consumer’s income, the demand curve for coarse-grain
    (inferior good) will:
  3. 1((iv))16] Choose the correct answers to the questions from the given options. (Do not copy the question, write the correct answers only.)
    There was difficulty in future payments under barter system due to:
  4. 1((v))16] Choose the correct answers to the questions from the given options. (Do not copy the question, write the correct answers only.)
    Jute industry is an example of __________ division of labour.
  5. 1((ix))16] Choose the correct answers to the questions from the given options. (Do not copy the question, write the correct answers only.)
    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?
  6. 1((x))16] Choose the correct answers to the questions from the given options. (Do not copy the question, write the correct answers only.)
    This refers to the legal definition of money-
  7. 1((xii))16] Choose the correct answers to the questions from the given options. (Do not copy the question, write the correct answers only.)
    Which of the following is a determinant of market demand?
  8. 1((xiv))16] Choose the correct answers to the questions from the given options. (Do not copy the question, write the correct answers only.)
    During barter exchange the rate of exchange was arbitrarily fixed. This
    resulted from:
  9. 1((xv))16] Choose the correct answers to the questions from the given options. (Do not copy the question, write the correct answers only.)
    Indian farmers are an example of __________ type of labour.
  10. 1((xvi))16] Choose the correct answers to the questions from the given options. (Do not copy the question, write the correct answers only.)
    A shirt costing Rs.300 represents __________ function of money.
  11. 2((i))Give any two examples of commercial revenue.2 marks
  12. 2((iii))‘Specialization of labour helps the producers in their productive activities
    and is also beneficial to the workers’. Justify the statement with two suitable
    reasons.    2 marks
  13. 2((iv))Explain the meaning of overdraft facility.2 marks
  14. 3((ii))Why is capital subject to depreciation?2 marks
  15. 3((iii))How is fixed deposit different from saving deposit?2 marks
  16. 3((iv))Picture 1 Picture 2
    Analyse the visual elements in the above two pictures and identify the
    standardisation mark required for Picture 1 and Picture 2 respectively as per
    the consumer protection measure.    2 marks
  17. 4((i))How does net debt differ from gross debt?2 marks
  18. 4((ii))Explain the term elasticity of demand.2 marks
  19. 4((iii))Ram and Shyam were both travelling by train from Delhi to Chennai
    separately. However, the cost of their tickets is different. Why? Give a reason
    for the railways charging different prices to different customers.    2 marks
  20. 4((iv))Under what conditions does the supply of good exhibit unitary elasticity?
    (Attempt any four questions from this Section.)    2 marks

Section B

  1. 5((i))With the help of a graph explain the increase in demand concept.5 marks
  2. 5((ii))Explain any five demerits of direct tax?5 marks
  3. 6((i))(a) Define a market.
    (b) Explain any three features of a monopolistic market.    5 marks
  4. 6((ii))List any five important duties of a consumer?5 marks
  5. 7((i))(a) What is the meaning of inflation?
    (b) Explain any three evil effects of inflation on production.    5 marks
  6. 7((ii))Differentiate between commercial and central bank (five points).5 marks
  7. 8((i))Differentiate between extension and contraction of demand.5 marks
  8. 8((ii))(a) State the law of supply.
    (b) Explain any three factors affecting elasticity of supply.    5 marks
  9. 9((i))(a) What is the meaning of the Consumer Price Index (CPI)?
    (b) Mention any three objectives of GST.    5 marks
  10. 9((ii))(a) What is the meaning of consumer exploitation?
    (b) Explain any three rights of a consumer.    5 marks
  11. 10((i))Explain the determinants of individual demand?5 marks
  12. 10((ii))Read the extract and answer the following questions.
    Shruti and her friends have an idea to start selling makeup kits. They already
    have saved money for the merchandise, models and displays. Since they all
    own the company, they will work for free.
    (a) Name the factor of production which is not mentioned.
    (b) Explain any four features/characteristics of the above (a) factor of
    production.    5 marks