Elasticity of Demand — Economics STD 10 — Question

What is land in Economics?

Indirect taxes are regressive in nature? Now can they be modern progressive.

Explain currency authority function of the Central Bank.###Give any two reasons for giving the monopoly right of not issue to the central bank.

State the impact of each of the following changes on the demand curve of a commodity:
(i) Increase in individual income
(ii) A rise in the price of the commodity
(iii) Increase in the supply of a substitute commodity
iv) Increase in the price of a complementary commodity

What is a central bank? Mention any two reasons for setting up the Reserve Bank of India.

With respect to efficiency of labour answer the questions that follow:
i) On what basis can efficiency of labour be measured?
(ii) State two factors that influence the efficiency of labour.
(iii) Explain two measures for improving efficiency of labour in India.

Distinguish between proportional and progressive taxation. ### Explain the term proportional taxation. ### What are proportional taxes?

There are three identical firms in a market. The following table shows the supply schedule of firm 1. Compute the market supply schedule.

Price (₹ Per unit):	0	1	2	3	4	5	6	7	8
Supply (units):	0	0	2	4	6	8	10	12	14

Explain cost push inflation.

Explain the effect of inflation on value of money.