(Two hours) Answer to this paper must be written on the paper provided separately. You will not be allowed to write during the first 15 minutes. This time is to be spent in reading the question paper. The time given at the head of this paper is the time allowed for writing the answers. Attempt all questions from Section A and any four questions from Section B. The intended marks for questions or parts of questions are given in brackets [ ].
SECTION A (40 Marks) Attempt all questions from this Section Question 1 (a) (b) Land is heterogeneous in nature. Explain. What is meant by efficiency of labour? efficiency of labour in India. (c) Mention two important characteristics of Capital as a factor of production. (d) (e) State two qualities of a successful entrepreneur. Mention two factors which gave birth to the Consumer Movement.    Give one reason for low  
Question 2 (a) (b) (c) What are inferior goods? Give an example. Mention two reasons behind the leftward shift of a supply curve. What is meant by Price Elasticity of Demand? When will the Demand Curve be parallel to X-axis? (d) Draw: (i) (ii) (e) Unitary Elastic Supply curve Perfectly Inelastic supply curve     
Define Food Adulteration. Name two health problems caused due to adulterated food.
ICSE Specimen Question Paper
Question 3 (a) (b) (c) (d) (e) Mention two merits of direct tax. What is public expenditure? What is meant by productive and unproductive debt? State two differences between progressive and proportional taxation. Where should the consumer go to get justice? Mention two consumer rights. Question 4 (a) (b) (c) (d) (e) State two primary functions of money. What is meant by double co-incidence of wants? Mention two advantages of a bank account. Briefly explain Creeping and Hyper inflation. Which section of society gains due to inflation? Why?          
SECTION B (40 Marks) Attempt any four questions from...