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ICSE Class 10 Economics
Explore and master the fundamentals of ICSE Class 10 Economics
You've not yet enrolled in this course. Please enroll for free to listen to audio lessons, classroom podcasts and take practice test.Chapter 1
The Productive Mechanism
Production encompasses the process that creates goods and services to meet human wants, utilizing essential factors such as land, labor, capital, and entrepreneurship. Effective capital formation through saving and investment plays a critical role in enhancing a country's production capabilities. The impact of technology in production is profound, driving efficiency, reduced costs, and improved quality in goods and services.
Chapter 2
Theory of Demand and Supply
Demand and supply are foundational concepts in economics that describe how markets function. Demand refers to the quantity of a commodity that consumers are willing to purchase at various prices, while supply refers to how much sellers are willing to offer. The chapter explores the laws governing demand and supply, factors that influence them, and the concepts of elasticity in both demand and supply.
Chapter 3
Market
The chapter covers the concept of markets in economics, emphasizing their role in facilitating exchanges between buyers and sellers. It delves into different types of market structures, including perfect competition, monopoly, monopolistic competition, and oligopoly, each characterized by distinct features such as the number of sellers, product nature, and price control. Furthermore, the importance of markets in resource allocation, competition, and consumer connectivity is highlighted.
Chapter 4
Banking in India
Banking plays a crucial role in the financial system of India, providing essential services such as mobilizing savings and facilitating credit for economic activities. The chapter explores the meaning and functions of money, different types of banks including commercial and central banks, and methods of credit control, including notable historical events like demonetisation aimed at curbing black money and promoting digital transactions.
Chapter 5
Inflation
Inflation is a sustained increase in the general price level of goods and services, which diminishes the purchasing power of money. It can take various forms, such as creeping, walking, running, and hyperinflation, and can arise from factors like demand-pull or cost-push dynamics. The effects of inflation are wide-ranging, impacting consumers, producers, and the overall economy, and necessitating various control measures from monetary and fiscal policies to supply-side strategies.
Chapter 6
Consumer Awareness
Consumer awareness entails understanding one's rights and responsibilities as a buyer, alongside knowledge about available products and services. This awareness aids consumers in making informed choices, protecting them from fraud, and encouraging fair trade practices. Key components include consumer rights, responsibilities, protection laws, and methods to address unfair trade practices.