Public Revenue — Economics STD 10 — Question

Draw diagrams showing:
(a) A perfectly elastic demand curve
(b) Elasticity of demand less than one.

State whether the following statements are true or false. Give reasons.
(a) An increase in income leads to a rise in the demand for normal goods.
(b) An increase in income leads to a rise in the demand for inferior goods.

Draw a well labelled diagram showing the price elasticity of supply of a commodity starting from the origin.

Mention two functions of capital.###What is the significance of capital in promoting economic growth?

Classify the following capital goods.
(i) Machines
(ii) Cotton yarn
(iii) Oil mill
(iv) Bridge

How does division of labour help in production?

What do you mean by factors of production? What are the four basic factors of production?

Which form of capital, money capital or real capital has a greater impact on national output?

Identify the market forms of the following:
(i) The government of India is the sole buyer of fighter aircrafts.
(ii) Goods sold are homogeneous.
iii) Motor car market in India.
(iv) Market for toilet soaps in India.

Using suitable examples, classify capital into fixed capital and circulating capital.