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i) In economics, what does the capital earn as income?
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(d) Interest
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ii) Which of the following are examples of substitute goods?
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(d) Apple iPhones and Samsung Smart Phones
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iii) Assertion (A): Mr. Gupta earns a fixed income every month, but he tends-to get adversely affected during inflation.
Reason (R): The prices of goods, services and the cost of living, does
not rise in the same proportion as income, during inflation.
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(a) Both (A) and (R) are true and (R) is the correct explanation of (A).
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iv) Amit buys 1 kg of mangoes at ?120 per kg. Other things remaining constant, when the price of mangoes falls to 290 per kg, he buys 2 kg of mangoes. Amit's choice in the given situation shows which concept?
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(d) Expansion of Demand
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v) The rate of tax, which is uniform for all the taxpayers, is termed as:
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(a) Progressive
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vi) Which factor will be responsible for 'product diversification' through innovation?
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(b) Entrepreneur
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| vii) Statement 1: The primary function of money is to act as a 'store of value'.
Statement 2: Money helps in monetary expression of the market value of
the commodity.
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(d) Statement I is false and Statement 2 is true..
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| VIII) BIS stands for |
(b) Bureau of Indian Standards
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ix) Examine the relation between price and quantity supplied: Price : 10, 12, 14 ; Demand: 5, 7, 9
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(a) Positive
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x) Which market structure has the least number of sellers?
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(a) Oligopoly
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xi) Direct taxes are regressive in nature.
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(b) False
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xii) Savings → Mobilisation → Investment . The above image depicts stages of
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(a) Capital Formation
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xiii) Radhika cannot postpone her demand for woollen clothes during winter season but at the same time can postpone her demand for a car. This is because her demand for woollen clothes. is:,
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(b) Inelastic
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xiv) Study the relationship in the first pair of words and complete the second pair.
1. Revenue earned by the government through railway fares : Commercial revenue
2. Revenue earned through Special Assessment :
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(c) Administrative
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| xv) Efficiency of labour shows the productive capacity of a labourer, whereas division of labour shows ------- of labour. |
(a) Specialisation
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| xvi) identify the type of debt raised by the government for organising relief camps during natural disasters. |
(b) unproductive
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