x Eco Pre Board Exam 24

CLARENCE PUBLIC SCHOOL
J.P.Nagar, Bengaluru – 78
FIRST PREPARATORY EXAMINATION 2024 – 25
SUBJECT: ECONOMICS MAXIMUM MARKS: 80
STD: X ICSE TIME: 2hrs
DATE: 05/12/2024
Total Number of Questions: 10 Total Number of Pages: 05
Maximum Marks: 80, Time allowed: Two hours

Answers to this Paper must be written on the paper provided separately.
You will not be allowed to write during the first 15 minutes.
This time is to be spent in reading the question paper.
The time given at the head of this Paper is the time allowed for writing the
answers.
Attempt all questions from SECTION - A (Compulsory).

A total of four questions are to be attempted from
SECTION - B The marks intended for questions are given in brackets []
SECTION – A (40MARKS)
Question-1
Choose the correct option and write the answer along with the option
(Do not copy the question, Write the correct answer with the option) (1x16=16)
1. This factor of production has unique characteristic, that is if it is used again and again its
value depreciates gradually. Identify the factor of production.
a) Capital b) cotton c) labour d) entrepreneur
2. Read the following statements - assertion (A) and reason (R) choose one of the correct
alternatives given below:
Assertion (A): subsidies were needed to encourage startups
Reason (R): any technology will help in increasing the supply of goods.
ALTERNATIVES:
a) Both Assertion (A) and Reason (R) are true, reason is the correct explanation of
assertion.
b) Both Assertion (A) and Reason (R) are true but reason is not the correct explanation of
assertion.
c) Assertion (A) is true but the Reason (R) is false
d) Assertion (A) is false but the Reason (R) is true
Page 1 of 5
3. The diagram below shows a…………. relationship between demand and price.
a) Positive b) negative c) direct d) inverse

4. The price elasticity of Motor car for a busy doctor is -----------.
a) Elastic b) inelastic c) unit elastic d) perfectly elastic.
5. Products which are identical is shape, size and quality are called as ------------.
a) Heterogenous. b) homogenous c) assorted d) diversified
6. This refers to the legal definition of money………….

a) Anything which generally acts as a 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.
7. Cost deposited by customers in commercial banks are known as…

a) Savings b) derivative c) secondary d) total deposits
8. Currency notes of -------------- and --------------- were banned on 8th November 2016.
a) Rs.50 & Rs.100 b) Rs.500 & Rs. 1000
c) Rs.500 &Rs.200 d) Rs. 500 & Rs. 100
9. Public finance does not deal with -------------.

a) public Revenue b) monetary policy
c) public expenditure d) public debt
10. the word public is used to signify--------------.
a) Business group. b) tax payers c) consumers d) government
11. pick out the factor which is not a demerit of indirect taxes.
a) unjust to poor b) a tool of economic policy
c) inflationary in nature d) high administrative cost.
12. which of these is a type of public debt in which the government pays regular interest but
does not refund the principal amount for the duration of the loas,
a) internal debt b) redeemable debt c) volutanary debt d) irredeemable debt
13. government expenditure on mid-day meal scheme running in government schools is a

type of ----------------- expenditure in government budget.
Page 2 of 5
a) capital expenditure b) revenue expenditure
c) developmental expenditure d) commercial expenditure
14. which one of the following is a part of capital expenditure?

a) salary paid to army officers. b) expenditure on construction of metro
c) pension paid to retired government employer d) none of these options
15. study the image given below and identify the economic concept depicted in the image.
a) Inflation b) consumer awareness

c) direct taxes d) consumer rights
16. ISI mark can be used on which of the following items?
a) Edible oil b) Iron box c) cereals d) gold earring
Question 2
i. Define simple division of labour with suitable example. [2]
ii. The image given below represents factor affecting demand. Analyze the two impacts of
these factors on the demand curve for normal goods.
iii. Mention two assumptions of the law of supply.
Page 3 of 5
iv. What is meant by oligopoly? Give an example.
Question -3
The household savings rate in India has hit a five-decade low in 2022-23, according to the
Reserve Bank of India. Deputy Governor Michael Patra explained that the decline is due to
increased spending after pandemic-related restrictions were lifted, as well as an increase in
liabilities, particularly in the form of home loans.
(Source:https://economictimes.indiatimes.com/news/economy/indicators/post-pandemic-
spends-dragged-household-savings-in-fy23-rate-climbing-up-now-rbi/articleshow/
104216266.cms?from=mdr )
i. Discuss the potential types of deposits that will increase savings habits in the country. [2]
ii. What is meant by Bank Rate? [2]
iii. Give two points of difference between public and private finance. [2]
iv. What is digressive tax? Give an example. [2]
Question -4
i. Give two reasons for an increase in public expenditure in recent times. [2]
ii. Define Public Debt? Give two sources of public debt. [2]
iii. State one favorable impact each of inflation on farmer and business person. [2]
iv. Give the expanded form of COPRA and RTI. [2]
SECTION – B
(Attempt any four questions from this section)
Question 5
i. Define the term entrepreneur. Discuss three ways by which an entrepreneur promotes
economic growth. [5]
ii. Differentiate between extension of demand and increase in demand [5]
Question 6
i. Read the extract and answer the following questions [5]
Rita’s business experienced substantial rise in the cost of raw materials used in the
manufacturing sector due to global supply disruptions and rising commodity prices. As a
result, her business was facing with higher production cost.
a) Identify the concept pointed here.
b) State four reasons behind it.
ii. Differentiate between primary and derivative deposits. [5]
Page 4 of 5
Question 7
i. Monopolistic competition is the perfect blending of monopoly and perfect
competition. With reference to this explain five features of monopolistic
competition. [5]
ii. Explain briefly the qualitative methods adopted by the Reserve bank of India to
control credit. [5]
Question 8
i. Define GST. State three benefits of GST. [5]
ii. Mention five differences between a direct and indirect taxes [5]
Question 9
i. What is meant by the term demand pull inflation? Discuss three causes of demand-pull
inflation. [5]
ii. Explain the following reference to the barter system of exchange: [5]
a) Lack of common measure of value.
b) Lack of deferred payment
Question 10
i. Explain five ways in which consumers are exploited [5]
ii. What is meant by consumer awareness? State three rights of a consumer. [5]
Page 5 of 5

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CLARENCE PUBLIC SCHOOL

Maximum Marks: 80, Time allowed: Two hours

Attempt all questions from SECTION - A (Compulsory).

a) Positive b) negative c) direct d) inverse

6. This refers to the legal definition of money………….

7. Cost deposited by customers in commercial banks are known as…

9. Public finance does not deal with -------------.

13. government expenditure on mid-day meal scheme running in government schools is a

14. which one of the following is a part of capital expenditure?

a) Inflation b) consumer awareness

iii. Mention two assumptions of the law of supply.

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