ICSE 2019 Economics Question Paper for Class 10

About this paper

This is the ICSE Class 10 Economics paper from the 2019 board examination, with a worked answer printed after every question. The paper is for two hours of writing time after 15 minutes of reading time. Section A (40 marks) has four compulsory questions of five two-mark parts each, such as whether storing potatoes in cold storage counts as production, what RTI stands for, and how indirect taxes can be made progressive. Section B (40 marks) asks students to attempt any four of six 10-mark questions on the law of demand and inflation, public debt and the barter system, the central bank and land, entrepreneurs and cost-push inflation, taxes and capital formation, and elasticity diagrams with the Reserve Bank of India's credit controls.

Exam

ICSE Class 10

Subject

Economics

Year

2019

Maximum marks

80

Time allowed

2 hours + 15 min reading

Questions

10

Pages

6

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

• Law of demand and shifts in demand
• Supply and elasticity of supply
• Elasticity of demand
• Factors of production: land, capital and entrepreneur
• Division of labour
• Money and the barter system
• Commercial banks and the central bank
• Inflation
• Direct and indirect taxes
• Public debt and public expenditure
• Consumer protection and RTI

Questions from this paper

1. A businessman stocks potatoes in cold storage during winter and releases that stock during summer. Will this be considered as production? Give a reason for your answer.
2. Expand the term RTI. How does it help a citizen of India?
3. If a buyer buys less of a commodity when his income falls, how will his demand curve change? Illustrate your answer with a diagram.
4. Indirect taxes are regressive in nature. How can they be made progressive?
5. What is cost-push inflation? Briefly explain three causes of cost-push inflation.
6. Briefly discuss any two quantitative measures adopted by the Reserve Bank of India to control credit.