Consumer Awareness — Economics STD 10 — Question

With the help of a diagram explain the meaning of increase in supply and decrease in supply.

Explain three merits and two demerits of indirect taxes.

Name the institution which enjoys the monopoly of note issue. Explain the following functions of this institution:
(i) Bankers Bank
(ii) Banker to the Government

Analyse the given graphs and identify the type of elasticity of demand of:

The following table shows the demand schedule for 3 consumers in a market.

Price in(₹)	Consumer 1 Demand in (kgs)	Consumer 2 Demand in (kgs)	Consumer 3 Demand in (kgs)	Market Demand
10	1	2	(i) _______	6
8	2	(ii) _______	4	9
6	3	4	5	12
5	4	5	6	(iii)______

Based on the above hypothetical schedule answer the following questions
(a) What is the demand of Consumer 3 priced at ₹10(i)?
(b) What is the demand of Consumer 2 Priced at 18 (ii)?
(c) Calculate the total market demand priced at 24 (iii)?
(d) From the above given table examine the relationship between price and demand.
(e) Mention any one exception to the law of demand.

Distinguish between the following:
(i) Extension and Increase in demand
(ii) Normal goods and inferior goods.

Most of the functions of an entrepreneur are performed by paid professionals. With suitable examples explain the following functions performed by an entrepreneur.
(i) Risk Bearing
(ii) Uncertainty Bearing
(iii) Innovations
(iv) Decision Making

Define public debt. How is it different from private debt?

State the law of supply. Explain any three factors other than price which determine supply in the market.

Explain the following measures adopted by the central bank to control inflation.
(a) Bank rate
(b) Open market operations###Explain how bank rate and open market operations can be used by the central bank to control credit.