Elementary Theory of Demand — Economics STD 10 — Question

Briefly discuss any two quantitative measures adopted by the Reserve Bank of India to control credit.

Point out the main features of Consumer Protection Act 1986.

Define tax. Give three differences between direct taxes and Indirect taxes.

With reference to the Central Bank, explain the following:
(i) Monopoly of note issue
(ii) Lender of the last resort

(a) State the law of demand.
(b) Briefly explain any two reasons for its occurrence.###State and explain the law of demand with the help of a hypothetical schedule and graph.

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.

Briefly trace the growth of consumer movement in India?

In what way the public expenditure policy be directed towards promoting economic development and reducing inequalities of income and wealth?

Differentiate between direct and indirect taxes. Mention two merits and two demerits of direct taxes. ### Give any five points of differences between direct and indirect tax.

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.