Elementary Theory of Demand — Economics STD 10 — Question

With the help of a suitable diagram, distinguish between extension in demand and increase in demand.

Explain five ways by which entrepreneurs can promote the economic development of a country.###Define the term 'Entrepreneur. Discuss three ways by which an entrepreneur promotes economic growth.###Explain the role of an entrepreneur in the economic development of the country.

How does inflation affect the following?
(a) Fixed income group
(b) Producers

What is meant by elasticity of supply? Using graphs explain any four types of elasticity of supply.

Define human capital. Discuss any four important causes of low efficiency of Indian labour.

An alert consumer is a safe consumer. Give reasons to support your answer.

State and explain the law of supply with the help of a diagram. Discuss any two exceptions to the law of supply.###What is meant by shift in supply? Explain three determinants of a leftward shift of the supply curve.

Define a commercial bank. How do commercial banks mobilise deposits from the public?

What is meant by 'market' in economics? Discuss the characteristics of a market. ###How can we define the term market in economics?

Which of the following statements are true and which are false? Give reasons.
(a) The commodity for which quantity demanded decreases with an increase in income is called inferior commodity.
(b) The law of demand states direct relationship between price and demand.
(c) An increase in the demand for a commodity is due to a fall in its price.
(d) A change in quantity demanded as a result of price change will imply a shift of the demand curve to the right.
(e) Contraction of demand is the result of decrease in the number of consumers.