Factors of Production — Economics STD 10 — Question

Mention three points of difference between public finance and private finance.

Give two characteristic features of land as a factor of production.

Prepare an imaginary individual supply schedule and draw an individual supply curve based on it.

Mention two reasons for setting up the central bank (or the Reserve Bank of India).

What is revenue expenditure? Give two examples.

If the demand for a commodity Y increases as the price of another commodity X rises, what is the relation between the two goods?###Substitute products A and B are produced by different firms. Give a reason why a change in the price of product A will bring about a change in quantity demanded for product B.

Distinguish between Real Capital and Debt Capital with the help of suitable examples.

Name the consumer courts at the district, state and national levels.

Distinguish between normal goods and inferior goods.

Land is one of the most important factors of production. In this context, mention two ways in which the efficiency of land can be enhanced?