ICSE 2017 Economics Question Paper for Class 10

About this paper

This is the ICSE Class 10 Economics paper from the 2017 board examination, with a worked answer printed after every question. Section A (40 marks) has four compulsory questions of five two-mark parts each, on topics such as cost-push inflation, the type of division of labour in an automobile industry, double coincidence of wants and the objective of COPRA. Section B (40 marks) asks students to attempt any four of six 10-mark questions on labour and capital formation, banks and entrepreneurs, shifts in demand and the central bank, supply and indirect taxes, consumer exploitation and public expenditure, and types of inflation and division of labour. A note in the copy says out-of-syllabus questions have been left out, and the answers include demand-curve diagrams.

Exam

ICSE Class 10

Subject

Economics

Year

2017

Maximum marks

80

Questions

10

Pages

7

Answers included

Yes

Paper pattern

• Section A

  40 marks

  Questions 1–4, each with five two-mark parts; all compulsory

• Section B

  40 marks

  Questions 5–10, 10 marks each (5 + 5); attempt any four

Topics covered

• Demand and shifts in the demand curve
• Law of supply and elasticity of supply
• Factors of production: land, labour, capital and entrepreneur
• Division of labour
• Money and its functions
• Commercial banks and the central bank
• Inflation
• Direct and indirect taxes
• Public expenditure and public debt
• Consumer awareness and COPRA

Questions from this paper

1. How does land differ from other factors of production with respect to its supply?
2. What is meant by double coincidence of wants? How does money overcome this problem?
3. Expand COPRA. What is its objective?
4. Define labour. Suggest three methods to improve the efficiency of Indian labour.
5. Explain the meaning of impact, shifting and incidence. To which tax are these terms relevant? Explain one merit and two demerits of this tax.
6. Public expenditure in India has increased over the years. Explain four principal reasons for its increase.